Aurum Resources

Aurum Earns 51% Interest in Boundiali BM tenement

Aurum Resources Limited (ASX:AUE) is pleased to announce the Company has earned 51% project interest on the BM Joint Venture (JV) project, part of its Boundiali Gold Project in Côte d'Ivoire, West Africa, after completing more than 8,000m of diamond core drilling.


Highlights

  • Aurum subsidiary Plusor Global Pty Ltd drilled 8,408.35m diamond holes on the Plusor- Minex JV tenement, one of four exploration tenements comprising the Boundiali Gold Project in Côte d’Ivoire, fulfilling the Company’s commitment for earning 51% project interest in this JV tenement within first 12 months of JV commencement.
  • BM tenement has significant artisanal workings, some of them are still active.
  • Aurum’s scout drilling campaign of 31 diamond holes completed in late 2023, with a total of 4,876.9m drilled, delivered very encouraging results including1:
    • 16m @ 1.24 g/t Au from 117m incl. 6m @ 2.44 g/t Au from 127m for diamond drill hole MBDD010
    • 7.39m @ 1.94 g/t Au from 139.34m incl. 5.35m @ 2.53 g/t Au from 141.37m (MBDD017)
    • 16.3m @ 1.02 g/t Au from 86.7m incl. 8.0m @ 1.71 g/t Au from 95m (MBDD019)
    • 15.82m @ 0.94 g/t Au from 5.18m incl. 4.5m @ 1.77 g/t Au from 16.5m (MBDD008)
  • Aurum drilled 19 diamond holes for 3,531.45m from June 2024 to 17 August 2024 on BM tenement, with assay results pending and expected in early October.
  • Aurum is continuing diamond drilling on the BM tenement targeting an initial JORC resource by late CY2024.
  • Aurum has six self-owned diamond rigs at Boundiali Gold Project with up to 10,000m per month drilling capacity to fulfil 45,000m drilling for CY2024.
  • Initial Mineral Resource Estimate for Boundiali on track for late CY2024
  • Aurum is well-funded (~$20M) for continued aggressive exploration.

Aurum’s Managing Director Dr. Caigen Wang said: “We are pleased to announce that through our careful and geologically-driven planning and execution of diamond drilling programs, in the second phase of our Plusor-Minex JV, we have drilled 8,000m diamond holes to earn 51% project interest, thanks to our JV partner’s strong support and diligent work by our in-country exploration team.

While the scouting drilling results released early this year are very encouraging, we are more excited about pending assay results in early October for new holes drilled in recent months.

With ongoing diamond drilling continues through the rest of this year, we are expecting inaugural JORC resources to be defined on this JV project, together with initial JORC resources from the BD tenement where very impressive drilling results have been intercepted and report.”

Boundiali Minex (BM) Plusor JV interest earning process

As of 18th August 2024, the first anniversary of the Boundiali Minex (“BM”) JV, Plusor has earnt a 51% interest through carrying out diamond drilling programs of 8,000m to earn 80% interest in two stages.

The agreement terms are:

  • 4,000m of diamond holes to earn 30% interest - completed
  • A further 4,000m of diamond holes to earn accumulated 51% interest - completed
  • Earn an accumulated 80% interest from a total exploration expenditure of US$2.5M using a nominal diamond drilling cost of US$140/m in calculation for expenditure commitment.
  • 80-88% interest in future gold production company (Government gets 10% free carry from local partner):
    • 80% if local partner contributes 11% capex
    • 85% if local partner does not contribute capex – they go to 5% free carry
    • 88% if local partner sells us 3% of their interest they go to 2% free carry.


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.

AUE:AU
Aurum Resources

Aurum Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Aurum Resources (ASX:AUE)

Aurum Resources


Keep reading...Show less

Game-changing gold exploration at prolific Côte d’Ivoire, West Africa.

AUE hits 66m @ 1.07g/t gold from 33m @ Boundiali BD tenement

AUE hits 66m @ 1.07g/t gold from 33m @ Boundiali BD tenement

Aurum Resources (AUE:AU) has announced AUE hits 66m @ 1.07g/t gold from 33m @ Boundiali BD tenement

Download the PDF here.

Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Aurum Resources

Aurum Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×