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BWA Group PLC on Wednesday reported ‘strong evidence’ of gold at its Aracari project in northern Cameroon following a reconnaissance programme. Aracari is about 65 kilometres north of Ngaoundere, capital of the Adamawa region. It is made up of three permits - Bandjoukri Ouest, Bandjoukri Centre, and Tchollire Nord - measuring 1,268 square kilometres in what BWA considers ‘an emerging gold district’. London-based BWA focuses on early-stage mining. Back in September, it bought a 70% stake in Aracari Resources Ltd, owner of the Aracari permits, through an option and earn-in deal with Aurum Discovery Holdings Ltd and Global Acquisitions SARL. This deal included a ninety-day period for BWA to carry out due diligence, including ground truthing, for a committed spend of about €25,000. BWA now intends to move into Stage 1 of the earn-out, which gives it the option to earn 10% beneficial interest, with committed expenses of €100,000. Stage 2 involves spending a further €400,000 to earn 51% and take control of Aracari. Stage 3 sees BWA spending an additional €1.0 million to raise its interest to 70%. BWA is optimistic about the project, claiming ‘widespread visible gold’ was found via ground truthing and field surveys. Samples made up of 16 rock and stream sediments indicated more than 0.1 grammes of gold per tonne of feedstock, BWA said. ‘A total of 50 samples reported gold values greater than the anomalous threshold of 15 [parts per billion] across the entire Aracari gold project,’ the company added. BWA drew attention to ‘high-grade samples of 9.19g/t, 1.89g/t and 0.92g/t’ found in the AOI-1 prospect, which it sees as a ‘priority area of interest’. AO1-1, part of Bandjoukri Ouest, shares a border with land held by London-listed Oriole Resources PLC. Oriole’s mineral resource estimate for the MB01-S prospect is 870,000 ounces of gold graded at 1.09 g/t. BWA currently has a MRE for Dehane 2, its flagship project on Cameroon’s west coast, of 4.2 million tonnes graded at 4.8% total heavy minerals. The final MRE for Aracari is yet to be specified. Other results from Aracari included samples with gold grades of 12.50 g/t, 9.19 g/t, and 1.89 g/t Au from 6 of 13 areas along a 62-kilometre strike length of the Tchollire-Banyo Shear Zone. BWA Chair Jonathon Wearing commented: ‘The field reconnaissance significantly increased our geological, geochemical and structural confidence in the licence block with the aim of delivering early significant results and defining targets for further, more advanced exploration. We remain committed to executing an exploration strategy aimed at fully testing and defining these assets.’ The company is planning to map the area in more detail, with grid-based soil sampling and trenching slated for the dry season, which in Cameroon runs until April. BWA is also planning magnetic surveys of the area. Aquis Exchange-listed BWA shares were flat at 0.45 pence on Monday afternoon in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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