Gold has reached dizzying new heights, with prices soaring to an all-time high of $2,141.90 per troy ounce in early March. This milestone comes amid a global economic landscape marked by uncertainty, driving investors to seek refuge in the tangible and inflation-resistant asset.
While major gold-producing nations like China, Australia, and South Africa have long dominated the market, a Canadian mining company, Pasofino Gold, is setting its sights on an unlikely contender: Liberia. The West African nation, which Pasofino Gold considers ‘the last untapped gold exploration frontier,’ has received over $18 billion in Foreign Direct Investment, signaling its commitment to economic growth and development.
At the heart of Pasofino Gold’s ambitions lies the Dugbe project, situated in the Birimian region – one of the most prospective gold-bearing terrains worldwide. After completing a feasibility study in 2022, the company has now commenced an exploration program in a specific target area known as Bukon Jedeh.
Despite the region’s rich mineral endowment and a long history of gold production, Pasofino Gold believes that the potential of Bukon Jedeh has yet to be fully realized. Initial drilling in 2012 and 2013 revealed high-grade intervals, but no further follow-up was conducted at the time. In August 2022, rock samples collected by the company showed promising results of up to 31 grams per ton of gold.
As gold prices continue to soar and attract global attention, companies like Pasofino Gold could be well-positioned in the market. And if the company’s assessment of Liberia’s prospects proves accurate, the entire country could stand to profit from an expanded presence in the lucrative gold industry.
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