Aurum Resources (ASX:AUE) Hits 36 g/t gold at Boundiali
11 November 2024
Price Sensitive Announcement $
Highlights:
– Exploration on diamond drilling (26 holes for 5,049.5m) from the expanded diamond program targeting multiple prospects on the Boundiali BM tenement returns shallow, wide and high grade gold hits1 including:
o 1m @ 35.86 g/t Au from 82m & 4.25m @ 3.75 g/t Au from 120m (MBDD070)
o 17m @ 1.60 g/t Au from 230m inc. 10.05m @ 2.02 g/t Au (MBDD057)
o 13m @ 2.07 g/t Au from 139m inc. 4m @ 3.29 g/t Au (MBDD054)
o 6m @ 3.57 g/t Au from 118m inc. 2m @ 10.14 g/t Au (MBDD065)
– Gold mineralisation on remains open along strike and down dip at BM Targets 1 (up to 2.5kmstrike), 2 & 3
– Diamond drilling continues at both Boundiali tenements with assays pending for ~60 holes (13,000m), next batch expected end of November
– Aurum has six self-owned diamond rigs at Boundiali Gold Project with up to ~10,000m drilling capacity per month and will complete more than 45,000m in CY2024
– Results from metallurgical test work overseen by MACA Interquip Mintrex (MIM) and ALS (Perth) expected by year end
– Inaugural Mineral Resource Estimate for Boundiali Gold Project targeted for late CY2024
– Aurum’s takeover of Mako Gold (ASX: MXG)2 progressing well – the merged company will achieve greater scale and market presence, creating a stronger platform for future growth and success in the industry
– Aurum is well-funded (~$19M cash at bank at 30 Sept) for continued aggressive exploration.
Overview:
Aurum Resources Limited has reported further high-grade gold intercepts from exploration on diamond drilling at multiple prospects on the BM Tenement, part of its 1037km2 Boundiali Gold Project in Côte d’Ivoire, West Africa.
Next Steps:
Aurum will continue its high-tempo gold exploration drilling at the Boundiali Gold Project. Considering the recent high-grade intercepts reported in this release at BM Target 1, Aurum is planning follow-up drilling of around 1,500m a month to further define the extent of mineralisation on this target. Exploration drilling on the early-stage BM tenement will continue to test for potential new discoveries.
Scout and step-back diamond drilling at the BD tenement will aim to continue to delineate known gold zones and identify new targets.
With six diamond drill rigs in operation, Aurum maintains its target drilling rate of ~10,000m per month across the Boundiali Gold Project, and aiming to drill 45,000m of diamond core at Boundiali this year.
This drilling, along with faster turnaround of assay results, will support Aurum’s goal of delivering an inaugural Mineral Resource Estimate for the Boundiali Gold Project by the end of CY2024.
Aurum is well-funded to execute these exploration plans with ~$19M cash at bank and remains confident in the potential of the Boundiali Gold Project to deliver significant value for shareholders
Company Notes:
Aurum’s Managing Director Dr. Caigen Wang said: “Our exploration drilling at BM continues to grow the known extent of gold mineralisation, which is now up to 2.5km at BM Target 1. Our expanded drilling program at BM is hi ng multiple intercepts downhole including shallow high-grade hits such as 1m @ 35.86 g/t Au from 82m and 4.25m @ 3.75 g/t Au from 120m in MBDD070.
Our six rigs are systematically ramping up production and with our new camp coming online, we expect to see increased operational efficiencies to demonstrate the full potential of the Boundiali gold project. We’re well-funded with $19 million cash at bank, allowing us to accelerate drilling and build on these encouraging results. We’re targe ng an inaugural JORC resource for Boundiali by late 2024.”
Full ASX announcement: https://wcsecure.weblink.com.au/pdf/AUE/02879004.pdf
