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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.
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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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Aurum Resources offers a compelling value proposition through its highly prospective gold asset in Côte d'Ivoire, a fast-emerging gold region in West Africa. It's cost-effective exploration strategy of drill rig ownership, also sets it apart from its peers.
Overview
Aurum Resources (ASX:AUE) is a mineral exploration company primarily focused on gold through its flagship Boundiali gold project located in Côte d’Ivoire, West Africa.
Côte d'Ivoire's gold mining sector is experiencing significant growth and development, with several key projects contributing to the country's economic expansion. The overall gold mining sector in Côte d'Ivoire is supported by substantial investments in infrastructure and exploration.
Geopolitically, Côte d'Ivoire outperforms most developing countries in the world in political, legal, tax and operational risk metrics. Additionally, Côte d'Ivoire continues to make notable strides in its political stability and Absence of Violence and Terrorism Index.
Aurum is led by a board and management team with considerable experience and a track record of success in the mining industry and a history of creating shareholder value.
Company Highlights
- Aurum Resources is a precious metals company with exploration prospects in the same greenstone belt as the Syama (11.5 Moz), Sissingué (1.0 Moz), Tongon (5.0 Moz) and Kone Gold (4.5 Moz) deposits of West Africa.
- Upcoming catalysts include a maiden mineral resource estimate expected to be completed by the end of 2024. The company believes mineralization is open at depth and along strike and highlights the existence of numerous gold mineralization targets within the large land holding of Aurum’s Boundiali Gold Project.
- Aurum operates its own drill rigs, allowing the company to significantly reduce its exploration costs relative to peers.
- Management has a track record of creating value for shareholders from exploration through to project development, mine construction and gold production.
- Strong leverage to increasing gold prices that will benefit from a declining interest rate environment and rising global geopolitical risk factors.
- Well-funded for greater than 12 months and over 100,000 metres diamond drilling programs and metallurgical study
Key Project: Boundali Gold Project
The Boundiali gold project in Cote d’Ivoire is located within the Boundiali Greenstone Belt, which hosts Resolute’s Syama gold operation (11.5 Moz) and the Tabakoroni deposit (1 Moz) in Mali. Neighbouring assets also include Barrick’s Tongon mine (5 Moz) and Montage Gold’s Kone project (4.5 Moz).
The Boundiali project area covers the underexplored southern extension of the Boundiali belt, where a highly deformed synclinal greenstone horizon traverses finer-grained basin sediments, and to the west, Tarkwaian clastic rocks lie in contact with a granitic margin. The project benefits from year-round road access and excellent infrastructure.
The first stage of drilling at Boundiali occurred in the fourth quarter of 2023 and the first quarter of 2024 for both the BM and BD tenements (BM1 and BM2; BD1, BD2 and BD3 targets) and was designed to test below-gold-in-soil anomalies oriented along NE trending structures. Having completed its initial exploration program, Aurum is now ramping up and undertaking a scout and step-back diamond drilling campaign with plans to increase its drilling fleet to include six rigs targeting a drilling rate of ~10,000 metres per month. The company expects to drill more than 45,000 metres of diamond core at Boundali to support an inaugural mineral resource estimate that is anticipated by the end of 2024.Drilling costs are estimated at US$45 per metre, as Aurum owns all of its drilling rigs and employs its operators, representing a significant value proposition relative to peers who use commercial drilling companies that charge upwards of $200 per meter. The company believes there is potential for multi-million ounce gold resources to be defined with hundreds thousands meters of drilling over years within the Boundiali Gold Project’s land holding areas.
The Boundiali gold project comprises four contiguous granted licenses: PR0808 (80 percent interest), PR0893 (80 to 88 percent interest), PR414 (100 percent interest), and PR283 (70 percent interest). Historic exploration at PR0893 includes 93 AC drill holes and four RC holes. Airborne geophysical surveying, geological mapping and extensive soil sampling have also been performed at PR0893, while PR0808 has had 91 RC holes drilled for 6,229 metres along with geochemical analysis and modeling. Detailed geochemical sampling and drilling at PR414 revealed three strong gold anomalies and returned impressive high-grade results.
Following the renewal of its Boundali South (BST) exploration licence in September 2024, drilling at the Nyangboue deposit is ramping up. Previous exploration at BST has returned impressive results, including 20 m at 10.45 g/t gold from 38 meters, and 30 m at 8.30 g/t gold from 39 m.
Management Team
Troy Flannery – Non-Executive Chairman
Troy Flannery has more than 25 years’ experience in the mining industry, including nine years in corporate and 17 years in senior mining engineering and project development roles. He has a degree in mining engineering, masters in finance, and first class mine managers certificate of competency. Flannery has performed non-executive director roles with numerous ASX listed companies and was the CEO of Abra Mining until October 2021. He has worked at numerous mining companies, mining consultancy and contractors, including BHP, Newcrest, Xstrata, St Barbara Mines and AMC Consultants.
Dr. Caigen Wang – Managing Director
Dr. Caigen Wang founded Tietto Minerals (ASX:TIE), where he led the company as managing director for 13 years through private exploration, ASX listing, gold resource definition, project study and mine building to become one of Africa’s newest gold producers at its Abujar gold mine in Côte d’Ivoire. He holds a bachelor, masters and PhD in mining engineering. He is a fellow of AusIMM and a chartered professional engineer of Institution of Engineer, Australia. Wang has 13 years of mining academic experience in China University of Mining and Technology, Western Australia School of Mine and University of Alberta, and over 20 years of practical experience in mining engineering and mineral exploration in Australia, China and Africa. Other professional experience includes senior technical and management roles in mining houses, including St. Barbara, Sons of Gwalia, BHP Billiton, China Goldmines PLC and others.
Mark Strizek – Executive Director
Mark Strizek has nearly 30 years’ experience in the resource industry, having worked as a geologist on various gold, base metal and technology metal projects. He brings invaluable geological, technical and development expertise to Aurum, most recently as an executive director at Tietto Minerals’, which progressed from an IPO to gold production at the Abujar gold project in West Africa. Strizek has worked as an executive with management and board responsibilities in exploration, feasibility, finance and development-ready assets across Australia, West Africa, Asia and Europe.
Top Stories This Week: Gold Dips Below US$2,500, US$970 Million Silver Deal Turns Heads
The gold price experienced ups and downs this week, sinking to nearly US$2,470 per ounce on Wednesday (September 4) before rebounding back above US$2,500 the next day.
The precious metal closed below the US$2,500 level on Friday (September 6) following August employment data from the US Bureau of Labor Statistics. The report shows nonfarm payroll employment rose by 142,000 last month, with the unemployment rate staying steady at 4.2 percent. The healthcare and construction sectors led job gains.
August's 142,000 number for jobs missed analysts' expectations of 160,000, solidifying thoughts that the US Federal Reserve will cut interest rates at its next meeting, scheduled to run from September 17 to 18.
However, market watchers are still divided on how big of a reduction the central bank will make — CME Group's (NASDAQ:CME) FedWatch tool currently shows a 75 percent likelihood of a 25 basis point cut.
Speaking ahead of this week's jobs release, Gareth Soloway of VerifiedInvesting.com said that while a cut will almost certainly be good news for gold, a large decrease could signal concerns about the economy from the Fed.
"What (does the Fed) know about the economy that's going wrong — that the rest of Wall Street is ignoring, that investors are ignoring? Now number one, that's probably pretty good for gold, because it's a safety asset," he said.
"For a stock market that had fallen sharply about three, four weeks ago and is now rebounding to almost all-time highs — that's a big concern for me, and I think we have to just be aware that you have to read between the lines. It's good the Fed might cut, but if the Fed has to cut too much it's because something has drastically gone wrong in the economy."
Bullet briefing — US$970 million silver deal, Goldman copper forecast
First Majestic to acquire Gatos Silver
First Majestic Silver (TSX:FR,NYSE:AG) said on Thursday (September 5) that it plans to acquire Gatos Silver (TSX:GATO,NYSE:GATO), expanding its presence in Mexico.
If approved, the US$970 million deal will see First Majestic gain ownership of Gatos Silver's 70 percent stake in the Los Gatos joint venture, which operates the Cerro Los Gatos silver mine in the country. The combined entity is anticipated to produce 30 million to 32 million silver equivalent ounces annually.
First Majestic's Keith Neumeyer is known for his bullish views on silver, which he believes will reach triple digits. Although the white metal made it past the important US$30 per ounce level earlier this year, it's currently around US$28.50.
Goldman Sachs cuts copper forecast
According to Bloomberg, Goldman Sachs (NYSE:GS) made a significant cut to its 2025 copper price forecast, reducing its call to US$10,100 per metric ton, down from US$15,000 previously.
Copper reached an all-time high of close to US$11,500 in May of this year, but it's since fallen substantially, currently at the US$8,915 level. Goldman states that its outlook has been dampened by weaker-than-expected demand from China, the top consumer of the red metal, as well as risks to the Asian nation's economic outlook.
Goldman also reduced its aluminum price outlook, and remains bearish on nickel and iron ore. But on a brighter note, the investment bank is maintaining its gold price target of US$2,700 for early 2025. It describes the yellow metal as "the commodity where we have the highest confidence in near-term upside."
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Dynasty Gold: Gold-focused Exploration with High-grade Gold Assets in Canada and the US
Dynasty Gold (TSXV:DYG) offers a compelling investment value proposition with its 100-percent-owned Thundercloud and Golden Repeat gold assets in Canada and the US. The company is advancing its key asset, the high-grade Thundercloud gold project, located in Northwest Ontario, Canada, a highly prospective property with significant exploration upside. The property was acquired from Teck Resources in 2021, with $10 million in previous exploration expenditure and an NI 43-101 resource estimate completed in December 2021.
The Thundercloud gold project is located in the Archean Manitou-Stormy Lakes Greenstone Belt in Ontario, Canada. Thundercloud spans 2,250 hectares and is part of the Wabigoon Subprovince, known for hosting several significant gold deposits. The project has been de-risked by the amount of drilling by Teck Resources in the 2000s. Dynasty has benefited from Teck’s datasets and is able to expedite its exploration and advance it to the current resource within two years from its maiden drill program on the property.
Historical drilling and exploration at Thundercloud have identified several zones of gold mineralization, with high-grade intercepts suggesting the presence of an extensive gold system
Company Highlights
- Dynasty Gold has two highly prospective, high-grade gold projects in North America - Thundercloud and Golden Repeat.
- The flagship Thundercloud project, acquired from Teck Resources in 2021 and with more than $10 million in previous exploration expenditures, is the current focus of Dynasty’s exploration and drilling program.
- Drilling and exploration work done by Dynasty to date has effectively increased the resource at Thundercloud from 187,000 ounces inferred to 232,000 ounces measured and indicated at a high grade of 8.04 g/t gold at 3.03 g/t cut-off, a possible open-pit operation. At 0.5 g/t cut-off, the project hosts 439,000 oz at 2.14 g/t. To date, more than 90 percent of the drill holes are less than 250 meters and 90 percent of the property has seen little drilling.
- Thundercloud is a brownfield project with extensive historical data, making it a lower-risk investment compared to other greenfield exploration projects.
- Dynasty’s second asset, the Golden Repeat gold project, is located within the Midas Gold Camp in Elko County, Nevada. The project is drill-ready with permits in place.
This Dynasty Gold profile is part of a paid investor education campaign.*
Click here to connect with Dynasty Gold (TSXV:DYG) to receive an Investor Presentation
Nightflower Exploration Target Upgrade Following Antimony Price Increase
Drill intersection grades up 3.05m @ 9.0% Sb
Tartana Minerals Limited (ASX: TAT) (the Company), is pleased to advise that it has upgraded its Nightflower Exploration Target after reviewing its earlier estimation in light of the recent increases in the Antimony price. Nightflower is a high grade silver – lead deposit with, previously overlooked, significant Antimony credits.
Highlights:
- Nightflower project is a high grade silver deposit with historically impressive intersections from past drilling including 9 m @ 506g/t Silver (>16 oz/t), 12.6% Lead, and 1.46% Zinc.1
- An Exploration Target range reported on 6 June 2022 has now been substantially upgraded to 2.75 Mt @ 364 g/t Ag Eq for 32 Moz Ag Eq to 5.36 Mt @ 270 g/t Ag Eq for 47 Moz Ag Eq. The Exploration Target is conceptual in nature only and there is no guarantee that further exploration will define a resource.
- Antimony has contributed to the Exploration Target, however, recent significant increases in the Antimony price due to China's export restrictions have improved the project’s economics.
- Historical drilling results indicate Antimony grades up 3.05m @ 9.0% Sb, 24.0% Pb, 10.5% Zn, 14.9 oz/t Ag, and 0.38% Cu (Hole NF72DD11), although the Exploration Target is based on a 1% Sb grade.
- Drilling is now being planned to test the target and upgrade previously identified mineralisation to JORC 2012 reporting standards.
In mid-August China, the world’s largest producer of Antimony – producing 83,000t in 2023 (USGS) - accounting for 48% of the world’s supply, will be restricting Antimony exports from 21 September 2024. Consequently, the Antimony price has significantly increased and is currently trading at US$24,500/tonne (Argus Metals, Antimony ingot min 99.65% fob China).
The revised Exploration Target is summarised in Figure 1, incorporating the original tonnages from the 6 June 2022 announcement with revisions to the grade range, detailed later in this report.
Figure 1. Revised Exploration Target. Note: The Exploration Target is conceptual in nature only and there is no guarantee that further exploration will define a resource.
The estimated Antimony content range within the Exploration Target is summarized in Figure 2 below.
Figure 2. Revised Exploration Target with an estimated contained Antimony range. Note: The Exploration Target is conceptual in nature only and there is no guarantee that further exploration will define a resource.
Tartana Minerals Managing Director, Stephen Bartrop, commented:
“Significant increases in our Exploration Target, Antimony prices, and consequently the economics of the project underpins the importance of the Nightflower project. With production at the Tartana mine site reaching steady state, this opportunity is only more significant. Further this represents only one target (The Digger Lode mineralisation) and excludes the prospectivity of the adjacent Terrace lode and a possible further discovery.”
Nightflower Silver Project History
The Nightflower project is located 40 km north of Chillagoe in Far North Queensland. It covers a substantial part of the northern Featherbed Volcanic Group and the underlying and surrounding Hodgkinson Formation.
It was discovered as a high grade silver deposit in 1923 and was visited by the Queensland Premier in October 1923. On the Premier’s return to Brisbane he reported that the ore at Nightflower was very rich and a truck-load treated at Chillagoe gave about 30% of lead and 40 ounces of silver to the ton (Source: Qld Govt Mining Journal Vol XXIV, Oct 1923).
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This article includes content from Tartana Minerals 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.
Yvonne Blaszczyk: Gold, Silver — Last Call to Invest Before Prices Go Higher
Speaking to the Investing News Network, Yvonne Blaszczyk, president and CEO of BMG Group, shared her latest thoughts on the gold and silver markets, including her price forecasts for the months and years ahead.
She emphasized that a global perspective is key for understanding these metals as geopolitical turmoil unfolds.
"I think the incredible rise — meteoric rise — of gold in recent months is the best indicator in terms of what is happening around us," said Blaszczyk, emphasizing that the BRICS nations are a key driver of gold in particular.
"In some ways we are surrounded — our western system is pretty much surrounded by the new emerging reality," she explained, adding that most people miss the big picture by focusing on small-scale issues.
Blaszczyk also spoke about the importance of using gold and silver to protect wealth, commenting, "I think this is kind of a last call for everyone to invest in gold before it goes up even further and further — and the same thing goes for silver."
Watch the interview above for more of her thoughts on gold and silver, as well as the BRICS.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Grande Portage Resources: Advancing the High-grade Herbert Gold Project in Alaska
Grande Portage Resources (TSXV:GPG;OTCQB:GPTRF);OTCQB:GPTRF) is a publicly held junior resource company exclusively focused on exploring and developing gold assets in southeast Alaska. The company is advancing its 100 percent owned Herbert Gold project, situated approximately 25 km north of Juneau, Alaska, within the historic Juneau Gold Belt, which has produced over 7 million ounces of gold.
The Herbert Gold project has an updated mineral resource estimate of 1.44 million ounces at 9.47 g/pt gold indicated resource, and 515,700 ounces at 8.85 g/pt gold inferred resource.
The Herbert Gold project is an exploration stage, high-grade, mesothermal quartz vein system in the historic Juneau Gold Belt of southeast Alaska. Herbert consists of 91 unpatented lode claims located 25 km north of Juneau and to the south of Coeur Alaska's profitable Kensington gold mine. The property covers six parallel vein structures exposed at surface.
Grande Portage released an updated MRE on the project (2024) for 1.44 Moz (4.7 Mt at 9.5 g/t gold) and 0.5 Moz (1.8 Mt at 8.9 g/t gold) in the indicated and Inferred categories, respectively. The Herbert property remains open at depth and along strike. Overall, six or more promising gold-producing vein-fault structures that contain ribbon structures and quartz-sulfides are located on the property. Herbert Gold is one of Alaska's most promising districts and has remained remarkably underexplored.
Company Highlights
- Grande Portage Resources is a junior resource company advancing its high-grade Herbert Gold project, located in a prolific gold belt in Alaska.
- Strong management team led by Ian Klassen who has 20 years’ experience in business management, public relations and government affairs.
- The company’s flagship Herbert Gold project, located near Juneau, Alaska, boasts a resource of 1.44 million ounces at 9.47 g/pt gold, and inferred resource of 515,700 ounces at 8.85 g/pt gold.
This Grande Portage Resources profile is part of a paid investor education campaign.*
Click here to connect with Grande Portage Resources (TSXV:GPG) to receive an Investor Presentation
Aurum Hits 40m at 1.03 g/t Gold at Boundiali BD Target 1
Aurum Resources Limited (ASX:AUE) (Aurum or the Company) is pleased to report further wide gold intercepts from step-back diamond drilling at BD Target 1 as part of ongoing diamond drilling at its Boundiali Gold Project in Côte d'Ivoire, West Africa.
Highlights
- Step-back diamond drilling (14 holes for 4,485m) at BD Target 1 on the Boundiali BD tenement returns shallow, wide gold hits1 including:
- 40m @ 1.03 g/t Au from 136m inc. 5m @ 1.70 g/t Au (DSDD0076)
- 11m @ 2.15 g/t Au from 169m inc. 4m @ 4.14 g/t Au &
- 10m @ 2.02 g/t Au from 322m inc. 2m @ 9.18 g/t Au (DSDD0062)
- Gold mineralisation remains open at BD Target 1; along strike and down dip with mineralisation intersected down to 385m below surface
- Induced Polarisation (IP) survey (2.8km by 4.5km) completed at BD Target 1 to optimise drill targeting
- Actively drilling at BD Target 2 and Boundiali BM tenement; assay results expected soon
- Aurum is now utilising a second assay lab to improve assay turnaround time
- Two more diamond rigs (capable of drilling 900m downhole) have arrived, increasing Aurum’s fleet to six; drilling rate to reach ~10,000m per month (targeting 45,000m for CY2024)
- Initial Mineral Resource Estimate for Boundiali targeted for late CY2024
- Aurum is well-funded (~$20M) for continued aggressive exploration.
Aurum’s Managing Director Dr. Caigen Wang said: “We're delighted with another shallow, wide gold intercept at BD Target 1. Gold mineralisation remains open along strike and at depth, with intersects as deep as 385m below surface. Every hole we drill helps us understand the controls on the high-grade gold shoots we find within these wider intercepts.
The new IP survey and structural data are guiding our drill targeting. With two new NOCK1300 diamond drill rigs operational, we're eager to test BD Target 1 down to approximately 900m.
With six rigs on site, we expect to achieve ~10,000m drilling per month, systematically exploring the full potential of the 13km by 3km target zone at BD and our other tenements within the Boundiali gold project. We're also improving our operations with new vehicles, a centralised camp, and we are using a second laboratory to enhance efficiency and assay turnaround times.
We're well-funded with ~$20 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.”
BD Target 1 - Latest Drill Results
Assay results reported in this release include 14 holes (4,485m) drilled at BD Target 1, which remains open with further drilling planned. More significant assay results for these holes2 include:
- 40m @ 1.03 g/t Au from 136m inc. 5m @ 1.70 g/t Au (DSDD0076)
- 11m @ 2.15 g/t Au from 169m inc. 4m @ 4.14 g/t Au &
- 10m @ 2.02 g/t Au from 322m inc. 2m @ 9.18 g/t Au (DSDD0062)
These new results are in addition to diamond holes drilled by Aurum at BD Target 1 and reported previously on 1 March 2024, 12 March 2024, 10 May 2024, 28 May 2024 and 17 June 2024, which include multiple +50 gold gram meter intervals over a 300m strike and down to an average depth of 200m (Table 1).
Table 1: Significant Intersections BD Target 1 over 300m strike
These shallow wide high-grade gold intercepts are predominately from the hanging wall lodes at BD target 1 and true widths are estimated at about 70% - 80% of reported downhole lengths.
Details of drill collar location and assay results for the new drilling on BD Target 1 are in Table 2 and Table 3 respectively. Plans showing Boundiali Gold Project location including assay results are presented in (Figure 1 to Figure 3). A cross section showing the latest drill results is presented in Figure 4.
Gold mineralisation remains open along strike and at depth on all prospects, with drilling ongoing and further work being planned. Aurum has prioritized a number of IP defined targets to define additional high priority targets for drill testing within the 2.8km by 4.5km IP surveyed area but sitting outside of currently drilled gold prospects.
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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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