Thanks, everyone, for coming to listen to Turaco this afternoon. So, as a team in West Africa, in Côte d'Ivoire, we've probably been one of the most active teams over the last seven years in Côte d'Ivoire. We've had prior success there with a prior company, and it was through that sort of activity and the credentials, I guess, we built up with the government that we were able to get our hands on this Afema Gold Project. Only about 18 months ago, we settled on the acquisition. It's a project that's long been on the radar screens of lots, but has been stuck in a very complicated, I guess, ownership structure, which we were able to unlock with the support of the government. We promised we'd move quickly, which we've done.
Within six months, we put out a maiden resource of 2.5 million ounces, and we updated that a few months ago, added over 1 million ounces of gold, taking it to 3.6 million ounces today. In fact, as we speak, our guys are working on a further update right now, so we'll see that grow before the year's out. I think you'll continue to see further growth during the course of the next year. It really puts it on the map as one of the most significant undeveloped gold projects in West Africa. We're capped at around about AUD 500 million now, very well funded. We just recently completed a raise in about AUD 60 million.
We've got about AUD 80 million of funding at the moment, and the next raising we do will be actually for the development of an operation here. We've got a number of analysts now that follow the company or with reasonably accurate models, I think, on the resource that we have today. We're undertaking a PFS right now, but really our focus is to continue to grow this resource. But they will have share price targets, obviously significantly higher than where we sit at today. Just looking over the last 18 months, our share price has performed well in obviously a very strong gold market, but that's been driven by obviously very regular drill results. We've got five rigs on site now. We're doing about 10,000 meters of drilling per month, and that will continue really for the foreseeable future.
And so, we're drilling not just on one deposit here. We've actually got four deposits in our resource. We're about to bring a fifth deposit in the next resource update. So, it really is a gold camp. And you'd say the regular drill results that we put out there, which has then been driven by regular updates to this resource, which, as I said, another one coming very soon. We've also done a huge amount of met test work on these deposits, which I'll run you through as well. Just touching on Côte d'Ivoire quickly, I mean, everyone's pretty familiar with it, but we sort of see it as the premier jurisdiction in West Africa. So, we're very comfortable operating there, and it's really driving the growth in West African gold production, which is largely coming out of Côte d'Ivoire, and you're seeing a lot more mines being developed there.
Importantly, the time for approvals, you're looking at sort of six months for an environmental approval following an ESIA rather than many years, and that's obviously a key advantage of West Africa. We're in our Afema project. We did have a lot of other projects in the north, which we've offloaded a lot of those now to companies like Many Peaks, who are having some success there. But our Afema project in red here is down in the south, so I don't think you could find a better located project in West Africa. No security issues whatsoever here. We're only a two-hour drive out of Abidjan, the capital of Côte d'Ivoire. Our deposits sit not far off a brand new sealed highway. Our main deposit, Woulo Woulo, is only two km off that highway, and our farthest deposit, Jonction, is about 10 km off that highway.
So, very good access. We also have access to the national grid in Côte d'Ivoire for power. So, one of the hydro power schemes in Côte d'Ivoire that feeds into that grid is the Ayamé scheme, which actually adjoins our project area. So, it's 25 km to tap into that to where we're looking at building a processing plant, and then we'll have power at about AUD 0.13 per kW hour. So, ideally situated from an infrastructure point of view and security point of view. But it's really the geology that's the reason that we're there and why this project's always been on the radar screen of so many. It basically covers the extension of one of the main belts in Ghana, the Sefwi Greenstone Belt. You can see that extending across the border into the southeast corner of Côte d'Ivoire.
Our project area that we've now grown over the last 12 months to 1,600 sq km of continuous tenure covers, I would say, 80%-90% of that Sefwi belt as it sits in Côte d'Ivoire. Currently, our focus has been within the red outline there, which is the central 200 sq km of that 1,600 sq km, which is actually a granted mining permit, which is quite unique for a company at our stage. There had been a lot of historical work done on this for an oxide operation and a feasibility study done in 2013. We've obviously got the benefit of that, and that's how we've been able to move the project forward quickly, and that's how the mining permit was granted, which tells you there's absolutely no impediments to developing a mining operation here.
And then we have in orange three brand new exploration permits which were granted to us about 12 months ago. So, they've got 12 years of tenure in Côte d'Ivoire, and then a couple of applications beyond that. All of our focus has been along the eastern margin of that Sefwi belt, which is called the Bibiani-Shirano Shear in Ghana, and we call it the Afema Shear here in Côte d'Ivoire. We've got 35 km of strike on that. 25 km of that sits within the mining permit, and that's where our resources currently sit. But we're also now stepping out off that shear to test targets within the Sefwi belt, where we've got very big soil anomalies over the top of or around the margins of intrusions, and it's immediately delivering exploration success to us.
And then we have another shear in the Kumasi Basin in grey there, the Asankrangwa Shear, another very prospective or productive belt in Ghana. We've got 25 km of that, and we're just starting to drill that and having success there as well. So, we've got a number of angles to grow this into a very large resource. So, the current resource of 3.6 million ounces sits across four deposits. I would say that each one of these deposits sits within a 10-km radius. In fact, Woulo Woulo in the south here, which is really the base load and will be the bulk of our tons feeding a future operation, which is 1.6 million ounces of gold there that we've drilled now and growing.
That sits in the south, and then the furthest deposit from that Jonction is only about 10 km to the north along the Afema shear that you could see there, and that's our highest grade deposit. That's about 2.1 grams per ton for about 600,000 ounces of gold. All of these deposits are from surface, open-pittable. In fact, generally within the top 200 meters of the resources sit and completely open, as I'll show you. And then sitting between Jonction and the Woulo Woulo deposit, we've got the Anuiri and the Asupiri deposits, both around one and a half grams per ton for sort of 500,000-800,000 ounces of gold each.
But we've got other deposits which we've been drilling on recently: Toilesso to the north of Jonction, which looks like another lookalike Jonction type of high-grade chute that we're drilling out. Begnopan , which sits along strike from the Asupiri structure, where we recently put some results out there, and that will come into our next resource update. We've drilled two km of additional mineralization there that are not in our resource at the moment. We've done metallurgical test work across all of those deposits. So, Woulo Woulo, very simple deposit. In fact, I'd say it's as easy as it gets. 90-plus% recovery is in the oxide, transitional and fresh, very low cyanide consumption of less than half a kilo per tonne, and that's at a grind size of 75 micron, possibly coarser.
The deposits along the Afema shear do require a finer grind, and what we've been able to demonstrate is we do a sulfide flotation, float off about 3%-4% of the mass that we're putting through, and we just take that 3%-4%, so a very small amount of tonnes, do a fine grind on that, an ultra-fine grind, and that liberates any locked gold in sulfides, and we're able to achieve 90% recoveries to doré from those deposits there. So, just zooming in, you can see here the mining permits. All of these deposits sit within the granted mining permit there. The Afema shear is not just one shear.
We have actually multiple shears across about two to three km shear zone width there, and then the Woulo Woulo deposit you'd see sitting in the mining permit coming off a north-south splay coming off that shear there. So, the Jonction deposit into the north there, as I said, that sits along the contact of a Tarkwaian unit, and as you move south there, that Tarkwaian unit, which is outlined in sort of brown there, that small sliver there, there's no drilling for about five km on that key controlling structure with very good soil geochemistry, and then we come into the Anuiri deposit sitting along the same structure there.
And then sitting parallel to that on another structure is the Asupiri structure, where we drilled the 800,000 ounces there, but sitting along strike from that, we've recently been drilling at Adiop an at Begnopan that sits on that same Asupiri structure and been defining a lot more mineralization there. So, just looking at each of these deposits, Woulo Woulo, as I said, this will be the base load moving forward in a future development here, 1.6 million ounces. It's only at a gram, but a very, very simple deposit. We've drilled it across three km of strike that you can see there. Generally drilled it down to about 200 meters, a bit deeper in the northern end, and there's some very high-grade results, like 80 meters at two grams there at depth, which we're following up now with some deeper holes there. Very simple deposit.
If you have a look at it in section here, it's pinches and swells over that three km from 20 meters true width up to over 100 meters true width. Averages about 30 to 40 meters of true width of mineralization. So, this is one zone of mineralization and very good continuity of grade from section to section and very good continuity across the strike as well. Those intercepts that you could see there, very typical 50 to 100 meters at one to one and a half grams per ton, and none of those intercepts are carried by one or two meters of high grade, very consistent on the individual one meter sample. So, a very simple deposit to model as a resource, very simple metallurgically, as I said, and also will be very simple to mine this with no issues around dilution, given it's one zone of mineralization.
We'd expect to optimize probably a million ounces into a sort of sub-AUD 2,000 gold shell here at a strip ratio of less than three to one. And then looking at growing that resource, we've got parallel structures, and we're very confident in finding more Woulo Woulo type deposits on these parallel structures. We just started drilling at one just to the southwest there, Hermann. We're not getting the same widths, but some very good grades, as you can see there, six at six, 15 at two, et cetera. And we've drilled about 400 meters of strike there, but we've augered about one km of strike on that structure there.
And then out to the east there, under some transported cover, so not very good soil geochemistry, but you could see parallel structures in the magnetics and some IP. Been doing some reconnaissance drilling there and recently just got four meters at 80 grams just from a hole on its own on one of these structures, and then there's another structure further to the east again. So, this is supplemented with these other high-grade deposits. So, Jonction along the Afema Shear, so two grams plus is an open-pittable deposit there. So, it's a very small deposit at surface, about 200 meters of strike, very analogous to part of the Shirano system which sits along the same structure in Ghana, which has a number of these high-grade chutes that make up that five, six million ounces there.
We think we'll find many more of these shoots here along that contact of the Tarkwaian to the north and the south there, and that's what we're testing for. But you can see some of the very good results. I mean, this is genuinely open. I think the deepest hole there is still 15 meters at five grams per ton. And then sitting to the south, five km along the same really unit or same geology, very similar geology as the Anuiri deposit, another 500,000 ounces at 1.6 grams per ton. I think the first hole we drilled into this was 67 meters at eight grams per ton, and that was not a down deep hole. That was true with some super high grade in this Anuiri deposit there, and we've got results like 15 meters at nine grams that haven't been followed up here.
This is genuinely open too. We've actually got shallow drilling along strike. You can see there in purple these further high-grade shoots as we step along south there, just shallow drilling in the oxide that we have to follow up with deeper drilling into the fresh mineralization and continue to add to these 500,000 ounces. Then sitting right next door on the parallel shear to Anuiri is the Asupiri deposit. We've actually got mineralization here now drilled over five km of strike, but our 800,000 ounces really sits in this southern two km of it across the western and eastern structure.
The western structure hasn't been drilled at all along strike, and it's completely open, and we've been getting some good results there as we step along strike like 16 meters at two and a half grams in the top 100 meters, 20 meters at just under two grams, et cetera. Then the eastern structure, we've got another sort of three or four km of shallow oxide drilling for us just to continue to drill at depth. You can see this concept of these high-grade plunging chutes. Looking along strike from that deposit is our next deposit, not in our resource, which will come in, which is Begnopan. We've drilled two km of more of the same, 10, 20 meters at a couple of grams from surface there.
We've done metallurgy on this deposit now, exactly the same, 90% recovery is using the same flow sheet as Jonction and Anuiri and Asupiri there. So, that will come into our next resource update, and then along strike from the Jonction deposit, along this contact of this Tarkwaian unit that you could see in grey there, along the western contact, we have another deposit called Toilesso, which looks like Jonction again, where we've put out results like 26 meters at just under two and 20 at 3.7, et cetera there. Just needs more drilling, but I think that'll be another one of these high-grade chutes, and then looking further afield off the shear, as we move into the Sefwi belt, we've got these huge anomalies. I mean, this is 1,000 square km that you're looking at. These anomalies are several km long at plus 100-200 ppb gold.
The amount of plus 100 ppb soil samples here is phenomenal across this. It's a massive gold system, and Baffia is just one example. We're looking inboard into the Sefwi belt here. It's a granite-hosted target here where we have a big anomaly that we just did some reconnaissance drilling there, and you can see some results like 20 meters at a couple of grams just from first-pass drilling. We'll be back on this drilling in the next few weeks. Then to the south, we have this other structure in the sediments, the Asankrangwa Shear, where we've done wide-space reconnaissance drilling in oxide, 200-meter space drilling, and been getting sort of 20 meters at a couple of grams there, which once again, after the wet season, we'll be back here looking at drilling some additional resources out here come November.
We are one of the most significant undeveloped gold projects now in West Africa at plus 3 million ounces. In fact, I think we'll be plus 4 million ounces in the short term, and we'll continue to grow it beyond that. We've got a good grade. Projects come from sort of a fairly low base, so we still think we're pretty well valued at about AUD 170 an ounce, and we're in a good part of the West Africa in Côte d'Ivoire. Importantly, we've well funded now. We don't need to raise any more money until we come to develop a mining operation here. We have a PFS underway.
While our focus is really on exploration and growing this resource, we are doing a PFS that will be completed in April, and then we'll move immediately into a DFS and look to be developing a mining operation here in 2027. We have an ESIA underway already and look to have that completed in June of next year, but drilling results on these new targets, new discoveries as we come into the dry season will be the focus for Turaco, so thanks very much.
Thank you very much. So much going on. We can feel the enthusiasm, but I'm afraid time is up.
Excellent. Thank you very much.