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Many Peaks Minerals Limited (ASX:MPK) (Many Peaks or the Company) is pleased to announce entering a binding Share Sale Agreement (Agreement) with Turaco Gold Limited (Turaco) to acquire its 89% interest in CDI Holdings (Guernsey) Ltd (CDI Holdings). CDI Holdings is an 89% subsidiary of Turaco, held with Predictive Discovery Limited (Predictive), holding an 11% free carry ownership in a joint venture with Turaco. The Agreement will trigger Turaco’s drag-along right in its joint venture with Predictive, whereby Many Peaks will also acquire Predictive’s remaining 11% interest and consolidate 100% ownership of the joint venture entity CDI Holdings.
HIGHLIGHTS
- Agreement to acquire 100% interest in Turaco Gold Ltd and Predictive Discovery Ltd joint venture holding the right to acquire an 85% interest in four mineral permits in Cote d’Ivoire
- Permits cover expansive 1,275km2 land package including recent gold discoveries with over US$4m previous exploration expenditure
- Acquisition includes the Ferke Gold Project, hosting the recent Ouarigue South discovery with open mineralisation ready for follow-up, and the Odienne Project immediately along strike from new gold discoveries
- Drilling to commence as soon as practicable in the coming quarter
Ferke Gold Project, 300km2
- 16km mineralised trend in soils with limited exploration follow-up.
- Previous diamond drilling confirms new discovery at the Ouarigue South prospect; results include:
- 35.95m @ 3.88 g/t gold within 77.6m @ 2.33 g/t gold from 45.9m and; 4.7m @ 6.14 g/t gold from 134m – FNDC001
- 91.1m @ 2.02 g/t gold from surface – FNDC008
- 47m @ 3.72 g/t gold from surface – FNDC012
- 15m @ 2.06 g/t gold from surface and 116.5m @ 0.98 g/t gold from 34.5m, including 30.09m @ 1.86 g/t gold – FNDC005
- 18m @ 3.38 g/t gold from 107m and; 13.65m @ 2.13 g/t gold from 194m – FNDC018
- 9.75m @ 7.46 g/t gold within 54.17m @ 1.88 g/t gold from 59.58m – FNDC019
Odienne Project, 758km2
- Project covers significant extent of high-strain corridor associated with the Archean domain
- margin and is comparable in stratigraphy to Guinea’s Siguiri basin
- On trend with Predictive’s 5.4Moz Au Bankan Project and Centamin’s 2.16Moz ABC project and contiguous to a new discovery by Awalé Resources/Newmont joint venture
- Recent first pass, wide-spaced air core drilling highlights a continuous zone of mineralisation returning >1g/t gold over 1,200m strike extent, with results including:
- 12m @ 1.18g/t gold from 4m
- 12m @ 1.06g/t gold from 16m
- 8m @ 1.30g/t gold from 28m
CDI Holdings is the holding company for two wholly-owned Ivorian entities, including the Ivorian subsidiary party to a joint venture with Gold Ivoire Minerals SARL (GIV Joint Venture) in Cote d’Ivoire in which it has earned a 65% interest and retains an exclusive right to earn-in to an 85% interest by sole funding any project within four mineral licences in Cote d’Ivoire to feasibility study.
The consideration for the purchase of 100% of CDI Holdings will be an aggregate 5,617,978 fully paid ordinary shares in Many Peaks subject to a 12 month escrow, to be issued under the Company’s capacity under ASX listing rule 7.1. Upon completion, Many Peaks will also assume a royalty deed for a 1% net smelter return royalty payable to Resolute (Treasury) Pty Ltd (Resolute)—further information on terms and conditions precedent outlined below.
Many Peaks’ Executive Chairman, Travis Schwertfeger, commented: “The Ferke and Odienne Projects in Cote d’Ivoire deliver Many Peaks a strong foundation of exploration success in Cote d’Ivoire with the potential to build significant high- grade ounces in the near term. Both projects are already covered with systematic geochemical coverage and high-resolution geophysics, which have led to demonstrated gold mineralisation confirmed in drilling. Leveraging over US$4m of previous expenditure in recent years has generated multiple targets ready for follow-up, including extension targets, providing Many Peaks with a transformational acquisition with near-term resource potential viable.
Our team has a depth of West African operating experience tied to multiple discovery and development projects over the past 15 years, and our technical team looks forward to operating in Cote d'Ivoire again. Over recent years, it has emerged as a premier jurisdiction within West Africa to operate in, with several recent exploration and development successes.
Figure 1: Project Locations
Ferke Gold Project
The Ferké Gold Project (Ferke) is located in northern Cote d’Ivoire, covering 300km2 in a granted exploration permit licence. Ferke is situated on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones (refer to Figure 1). Initial exploration undertaken at the Ferke Gold Project by Predictive Discovery Ltd in 2016 and 2017 (previously referred to as Ferkessedougou North) comprised several phases of geochemical stream and soil sampling across the permit area, which has defined a more than 16km long gold-in-soils anomaly on the ‘Leraba Gold Trend’ (refer to Figure 2 and Predictive’s ASX announcement dated 2 February 2017).
Click here for the full ASX Release
This article includes content from Many Peaks Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Many Peaks Minerals
Investor Insight
Significant acquisitions of projects in some of the most prolific gold districts of Côte d’Ivoire, West Africa, position Many Peaks for significant discoveries, giving the stock a compelling investment case.
Overview
Many Peaks (ASX:MPK) is an Australia-based mineral exploration company with gold assets in Côte d’Ivoire, West Africa, and exposure to key energy transition assets in Newfoundland, Canada. With drill-ready targets across its projects, Many Peaks aims to realise growth and value creation through exploration discovery and near-term mineral resource definition.
In West Africa, the company is focused on four recent acquisitions in Côte d’Ivoire totaling 1,919 square kilometres, including the more advanced-stage Odienné and Ferké gold projects with recent gold discoveries and more than US$4 million in previous exploration expenditures.
The company acquired a portfolio of three projects from Turaco Gold Ltd in May 2024, consolidating interests held in the projects by Turaco and Predictive Discovery Ltd. The Company’s establishment into one of the fastest growing gold regions in the world was quickly followed with a binding agreement securing an exclusive option to acquire a 100 percent interest in the Baga gold project, which comprises two permits totaling 644 square kilometres in eastern Côte d’Ivoire.
Many Peaks’ Canadian asset targets the lithium potential in Newfoundland, where an emerging lithium district is strategically positioned with access to both European and North American markets.
A management team with a range of experience throughout the natural resources industry leads the company towards achieving its goals of strengthening shareholder value through exploration.
Company Highlights
- Many Peaks is a mineral exploration company focused on advancing its gold projects in Côte d’Ivoire, West Africa: Odienné, Ferké, Baga and Oumé.
- Land holding in West Africa comprises 1,919 sq km within the Birimian Gold Terrain, providing the company a strategic near-term gold resource potential
- Also holds a 100 percent interest in the Aska lithium project in Newfoundland, Canada.
- An expert management team with extensive experience throughout the natural resources industry leads the team toward fully exploring its assets.
Key Projects
Côte d’Ivoire (West Africa)
Many Peaks’ assets in Côte d’Ivoire comprise four projects – Odienné, Ferké, Baga and Oumé.
Odienné Gold Project
Located in northwest Côte d’Ivoire, Odienné comprises two granted exploration permits covering a total area of 758 square kilometres. It is situated on the flexure of a regional scale structure zone hosting mineralisation to the northwest in neighbouring Guinea and immediately south along the margin of the Archean-aged Man craton.
Odienné Project location in the context of Siguiri Basin geology compilation and gold project locations regionally
Auger drilling in early 2023 defined coherent gold in saprolite anomalism, which prompted a maiden air core drilling campaign in late 2023.
Many Peaks has followed up 2023 success with aggressive exploration, expanding the project’s auger drilling coverage within weeks of acquisition. Systematic coverage of auger has succesfully defined three prioritised targets extending across more than 16 kilometres of a 30-kilometre gold anomaly.
The company is now well positioned for follow-up air core and diamond drilling campaigns to further define confirmed gold mineralisation on the project over the coming 2024-25 field season.
Ferké Gold Project
Located in northern Côte d’Ivoire, the Ferké gold project covers 300 square kilometres within a single granted exploration licence. Ferké is situated on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones.
Ferké Gold Project outline with drill collar locations, including the location of the Ouarigue discovery within the >16km Leraba Gold Trend
Initial exploration work conducted at Ferké defined a more than 16-kilometre-long gold-in-soils anomaly on the Leraba Gold Trend. Previous exploration included systematic surface geochemistry, trenching and reconnaissance reverse circulation (RC) drilling across the broader Ferké area. Early success in reconnaissance RC drilling included initial intercepts into the Ouarigue target area, including results of 25 metres @ 3.06 grams per ton (g/t) gold from 64 metres in hole FNRC016.
The success in RC drilling was followed up with trenching and an initial 18 diamond drill holes, which confirmed a significant outcropping mineralised body associated with a granite intrusion, including intercepts from surface of 91.1 metres @ 2.02 g/t gold in hole FNDC008 and 47 metres @ 3.72 g/t gold from surface in hole FNDC012.
Baga Gold Project
Baga and Oumé project locations on generalised regional scale geology interpretation
The Baga gold project is a 644 sq km landholding comprising two granted permits in Côte d’Ivoire. The project is located 150 km east of the city of Bouaké and covers an underexplored region of structural complexity located just 21 km east of a recent greenfields gold discovery by Endeavour Mining, which over the past three years rapidly defined the 4.5 Moz Assafou gold resource estimate within their Tanda-Iguela permit areas.
Within weeks of securing the option to acquire a 100 percent interest in Baga, Many Peaks has completed the first surface geochemical campaign covering the project area.
The permits are situated where the southern extent of the Duango-Fitini shear zone in Côte d’Ivoire’s north forms a flexure or structural splay into the Oumé-Fetekro parallel shears within Birimian metasediments and metavolcanics. At this change of orientation in structures within the Birimian terrane the Baga project area also covers the intersection, or truncation of the Bui Belt structural trend which hosts Tarkwaiian sediments and conglomerate units extending east and northeast into central Ghana. Baga Gold represents a highly prospective area to advance exploration activity by Many Peaks.
Oumé Gold Project
The Oumé project is an early-stage exploration asset located in south-central Côte D’Ivoire. It comprises a single exploration permit (the Beriaboukro licence) and is situated on the Oumé-Fetekro belt, historically one of Côte d’Ivoire’s most productive greenstone belts. The area is host to Allied Gold’s 2.5 million-ounce (Moz) Bonikro, the 1.9 Moz Agbaou gold deposit and Endeavour’s 3 Moz Lafigué gold project.
Newfoundland (Canada)
Aska Lithium
Many Peaks’ 100-percent-owned Aska project is approximately 45 kilometres east of Cape Ray, Newfoundland. The project covers 193 square kilometres in proven lithium terrane and is situated in a growing lithium district known to host lithium-caesium-tantalum type pegmatites.
Management Team
Travis Schwertfeger - Executive Chairman
Travis Schwertfeger is a geologist with over 25 years of global industry experience primarily in gold and copper projects across Africa, Australia, Africa and the Americas. Schwertfeger has previously held several technical roles in exploration and production, including over seven years operating in West Africa with Newmont Mining and other ASX-listed explorers. He has prior experience as a director of ASX-listed mineral resource companies through previous roles, including a former role with Exore Resources (acquired by Perseus in September 2020 for ~A$80m).
Ben Phillips - Non-executive Director
Ben Phillips has more than 15 years of experience in commercial negotiations and has worked in several industries, including oil and gas, resource, technology and defence. He provides advice on a wide range of operational aspects, from R&D and exploration to production, commercialization and sales. Phillips is the executive chairman of Norfolk Metals (ASX:NFL), was previously a non-executive director at Bronson Group (ASX:BGR) and, subsequently, Mandrake Resources (ASX:MAN). He is currently a corporate executive at Ironside, focused on sourcing, structuring, funding, and management requirements for public and private small-cap companies.
Marcus Harden - Independent Non-executive Director
Marcus Harden is a geologist with extensive gold and base metals exploration and management experience throughout Australia, Africa, Asia and the Americas. Harden's more recent roles include chief geologist of AuTECO Minerals, head of regional exploration for Bellevue Gold, chief geologist of Alicanto Minerals Ltd, and other senior exploration roles with Gryphon Minerals and First Quantum Minerals. He has played key roles in the discovery and definition of several gold deposits globally with ASX-listed junior companies. Among previous projects with contributions to discovery, three are currently operating mines and one is in development. He is also a member of The Australian Institute of Geoscientists.
Aaron Bertolatti - Company Secretary
Aaron Bertolatti is a chartered accountant and company secretary with more than 10 years of experience in the mining industry and accounting profession. Bertolatti has significant experience in the administration of ASX-listed companies, corporate governance and corporate finance.
More Wide, High-Grade Intercepts at Kamperman
HIGHLIGHTS
- Assay results received for the final 11 holes (1,254 metres) of a 31-hole (3,834 metre) reverse circulation (RC) drill program at the Kamperman Deposit, part of Astral’s 100%-owned Feysville Gold Project near Kalgoorlie. Best results include:
- 33 metres at 3.75g/t Au from 58 metres including 3 metres at 14.8g/t Au from 75 metres in hole FRC387;
- 10 metres at 1.63g/t Au from 131 metres and 22 metres at 5.21g/t Au from 149 metres including 2 metres at 30.9g/t Au from 164 metres and 2 metres at 12.2g/t Au from 168 metres in hole FRC389;
- 22 metres at 4.44g/t Au from 105 metres including 2 metres at 25.9g/t Au from 121 metres in hole FRC388;
- 6 metres at 12.8g/t Au from 76 metres including 1 metre at 63.4g/t Au from 77 metres in hole FRC385;
- 12 metres at 1.19g/t Au from 18 metres and 24 metres at 1.29g/t Au from 80 metres in hole FRC381;
- 13 metres at 1.14g/t Au from 24 metres in hole FRC384; and
- 20 metres at 0.79g/t Au from 30 metres in hole FRC382.
- RC holes FRC387, FRC388 and FRC389 represent a very successful in-fill test of the deposit, with the three holes averaging 112 gram-metres1.
- RC hole FRC385 targeted high-grade gold mineralisation associated with a zone of silicification intersected in three previous holes. FRC385 targeted a potential high-grade zone oriented in a north-west – south-west orientation and successfully intersected 6 metres at 12.8g/t Au including a 1 metre interval of 63.4g/t Au, confirming geological interpretations.
- Results of the 31-hole RC program were not included in the maiden Kamperman Mineral Resource Estimate (MRE) announced on 1 November 2024 of 2Mt at 1.3g/t Au for 83.8koz of contained gold6. The results demonstrate the opportunity for continued MRE growth at Kamperman.
- The RC rig relocated to the Mandilla Gold Project to complete the in-fill program at the Iris Deposit. The RC drill rig is currently completing the final hole of this program and then will commence a 16-hole drill program at Eos testing the extent of fresh rock gold mineralisation adjacent to the Eos palaeochannel deposit.
- Also at Mandilla, a diamond drill (DD) rig has commenced a four-hole/1,600 metre drill program ahead of an update to the Theia MRE, which is expected to be reported in the March Quarter, 2025.
- The first hole of this DD program has already been completed with a significant number of visible gold occurrences observed during the logging process. (Refer to Cautionary Note below).
Figure 1 – Map illustrating the location of the Mandilla and Feysville Gold Projects.
Astral Resources’ Managing Director Marc Ducler said: “Following the recent release of the maiden Kamperman MRE, it is highly encouraging to now be reporting further high-grade in-fill results and a successful drill test of a previously identified high-grade zone. These results highlight the potential for MRE upside at Kamperman.
“The in-fill drill line (FRC387, FRC388 and FRC389) testing the high-grade southern zone at Kamperman returned excellent results including 33 metres at 3.75g/t Au, 22 metres at 4.44g/t Au and 22 metres at 5.21g/t Au. These three in-fill holes averaged a gold accumulation of 112 gram-metres through this high-grade southern zone. This is clearly a very successful in-fill test and bodes well for the potential to upgrade the MRE in this area.
“A potential high-grade gold zone was also tested with hole FRC385, returning a spectacular intercept of 6 metres at 12.8g/t Au from 76 metres including 1 metre at 63.4g/t Au from 77 metres.
“Previous drilling in the vicinity has seen this characteristically silicified zone intersected in three holes with assay results of 3.7 metres at 12.2g/t Au, 5 metres at 3.11g/t Au and 10 metres at 5.04g/t Au including 1 metre at 28.5g/t Au inFRC350.
“This further successful test of an interpreted high-grade shoot adds confidence as to the continuity of this zone and our ability to interpret controls and presents as further upside to the current Kamperman MRE.
“The RC rig is now progressing with the in-fill and extensional programs at Iris and Eos respectively and, once complete, will be returned to Kamperman to complete a 15-hole (2,110 metre) in-fill program.
“Diamond drilling of four in-fill holes at Theia is progressing well. The first hole of this program has already been completed with, pleasingly, a significant number of occurrences of visible gold observed during the logging process.
Plans are underway to secure a second diamond drill rig. This has the potential to increase the rate of progress of both the current four-hole in-fill program at Theia and the geotechnical program required to inform the open pit parameters for the Hestia and Eos open pits in the Mandilla PFS.”
Click here for the full ASX Release
This article includes content from Astral Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Ferke Gold Project, Cote d’Ivoire
HIGHLIGHTS
- Over 10,000m of drilling planned for December quarter to follow-up previous drilling successes at the Odienné and Ferké gold projects, Côte d’Ivoire
- Ferké project auger drilling has commenced, with a 5,000m campaign covering +9km segment of gold anomalism, targeting extensions to high-grade gold mineralisation confirmed in previous drilling
- Odienné project air core drilling planned to commence over coming weeks to assess priority targets generated in previous quarter’s auger results
- Both projects fully funded for follow-up diamond and RC drilling as part of staged exploration campaigns planned to continue through the 2024/25 field season
Auger drilling has already commenced at the Ferké gold project, with three drill rigs mobilised to cover 9km of reconnaissance drilling along the highly prospective structural corridor hosting the Ouarigue South prospect. This program is designed to delineate extensional targets to open gold mineralisation confirmed in previous drilling that returned:
- 47m @ 3.72g/t gold from surface
- 77.6m @ 2.33 g/t gold from 45.9m
- 91.1m @ 2.02 g/t gold from surface
- 45.3m @ 3.16g/t gold from 45.9m
Concurrently, field work has commenced at the Odienné project, ahead of a planned 5,000m air core campaign that will assess priority targets delineated from the previous quarter’s auger drill results (refer to ASX release dated 20 August 2024). The drilling will be focussed on target delineation within more than 16km of anomalous gold trends located in the same high-strain corridor that hosts Predictive Discovery’s 5.4Moz Au Bankan deposit, as well as the recent discovery by Awalé Resources/Newmont joint venture, which is located on a contiguous land holding.
Many Peaks’ Executive Chairman, Travis Schwertfeger commented:
“Following the end of the West African wet season, we are pleased to have commenced Many Peaks’ 2024/2025 exploration program at our high-grade Cote d’Ivoire projects. Plans for the coming months include our maiden drilling at Ferké, where three auger rigs will drill 5,000m to identify extensional targets of historic holes that include 45.3m @ 3.16g/t and 39.7m @ 3.54g/t gold. We will also drill 5,000m of air core holes at Odienné, following up on extensive gold anomalism identified from drilling we conducted here in the previous season. We look forward to updating investors on our findings as we systematically assess the potential of these highly prospective projects.”
Ferké Gold Project
The Ferké Gold Project (Ferké) comprises 300km2 in a single granted exploration permit in northern Côte d’Ivoire currently undergoing a renewal process and remaining permitted for exploration activity. Ferké is situated on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones (Figures 1 & 3). The project area has seen substantial previous exploration activity confirming gold mineralisation but with limited follow-up work. Previous work includes high resolution geophysics, soil sampling, trenching, and RC and Diamond drilling (refer to ASX release dated 26 March 2024).
Planned Work
Many Peaks’ initial field programme at Ferké is a 5,000m auger drilling campaign focused on extending the auger coverage at Ferké along an additional 9km of strike extent in the >16km long corridor of soil anomalism referred to as the Leraba trend. The auger campaign is estimated to be completed in 3 to 4 weeks’ time with 400m to 600m spaced lines of sampling and planned 25m spacing between samples. Results are anticipated to refine targeting for follow-up drilling within the extensive gold anomalism which measures over 2km in width in most places (Figure 1).
Figure 1 | Ferké Project proposed auger drilling locations with locations of previously drilling auger, RC and diamond core drilling on regional scale geology.
The planned auger drilling at Ferké is focused on expanding the footprint of gold mineralisation confirmed in previous drilling success. An initial 18 diamond holes drilled into a limited segment of the extensive gold corridor confirmed gold mineralisation at Ferké that remains open in all directions. Results from previous drilling include 45.3m @ 3.16g/t gold from 45.9m drill depth in hole FNDC001 and 39.7m @ 3.54g/t gold from 51.4m in drill hole FNCD008 (refer to ASX announcement dated 26 March 2024).
The current programme is designed to define extensional targets within in the predominantly undrilled north-south trending segment of gold in soil anomalism of the Leraba trend. This may justify expansion of planned follow-up RC and diamond drilling work over the coming field season, and complement drill ready targets already defined on open mineralisation at the Ouarigue South prospect.
Click here for the full ASX Release
This article includes content from Many Peaks Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Aurum Hits 36 g/t Gold at Boundiali BM Target 1, Extending Strike to 2.5km
Highlights
- Exploration 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:
- 1m @ 35.86 g/t Au from 82m & 4.25m @ 3.75 g/t Au from 120m (MBDD070)
- 17m @ 1.60 g/t Au from 230m inc. 10.05m @ 2.02 g/t Au (MBDD057)
- 13m @ 2.07 g/t Au from 139m inc. 4m @ 3.29 g/t Au (MBDD054)
- 6m @ 3.57 g/t Au from 118m inc. 2m @ 10.14 g/t Au (MBDD065)
- Gold mineralisation remains open along strike and down dip at BM Targets 1 (up to 2.5km strike), 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.
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 hitting 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 targeting an inaugural JORC resource for Boundiali by late 2024.”
BM Target 1 - Latest Drill Results
Aurum reports results for 26 holes for 5,049.5m of diamond core drilled at BM Target 1 (19 holes for 3,445m), BM Target 2 (two holes for 314.5m) and BM Target 3 (five holes for 1,290m) on the BM Tenement, part of an expanded drill program on the BM Tenement where Aurum is working toward and 80% project interest3. Best results for these holes4 include:
BM Target 1
- 1m @ 35.86 g/t Au from 82m (Figure 1) & 4.25m @ 3.75 g/t Au from 120m (MBDD070)
- 17m @ 1.60 g/t Au from 230m inc. 10.05m @ 2.02 g/t Au (MBDD057)
BM Target 3
- 13m @ 2.07 g/t Au from 139m inc. 4m @ 3.29 g/t Au (MBDD054)
- 6m @ 3.57 g/t Au from 118m inc. 2m @ 10.14 g/t Au (MBDD065).
Figure 1 Visible gold at 82m in MBDD070
These new results are in addition to diamond holes previously drilled by Aurum at BM Target 1 and reported on 22 January 2024, 1 March 2024 and 18 September 2024, which included:
- 11.46m @ 6.67 g/t Au from 162.54m incl. 1.46m @ 45.04 g/t Au (MBDD049)
- 45m @ 0.93 g/t Au from 78m incl. 8m @ 1.18 g/t Au from 78m & 25m @ 1.15 g/t Au from 98m (MBDD0045)
- 16m @ 1.24 g/t Au from 117m incl. 6m @ 2.44 g/t Au (MBDD0010)
- 7.39m @ 1.94 g/t Au from 139.34m incl. 5.35m @ 2.53 g/t Au (MBDD017)
- 16.3m @ 1.02 g/t Au from 86.7m incl. 8m @ 1.71 g/t Au (MBDD019)
- 16.64m @ 1.45 g/t Au from 56.26m incl. 10.40m @ 2.11 g/t Au (MBDD007)
- 5m @ 4.73 g/t Au from 53.5m incl. 1.10m @ 20.35 g/t Au (MBDD004).
Click here for the full ASX Release
This article includes content from Aurum Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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