Aurum Hits 11.46m at 6.67 g/t Gold at Boundiali BM Target 1

Aurum Resources Limited (ASX:AUE) (Aurum) is pleased to report wide high-grade gold intercepts from second round exploration diamond drilling at BM Target 1 on the BM Tenement, part of its 1037km² Boundiali Gold Project in Côte d'Ivoire, West Africa.

Highlights

• Exploration diamond drilling (five holes for 914.5m) from second diamond program at BM Target 1 on the Boundiali BM tenement returns shallow, wide high-grade gold hits¹ including:
  • 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 (MBDD045)
  • 10m @ 2.84 g/t Au from 120m incl. 8m @ 3.40 g/t Au (MBDD043)
  • 6.31m @ 2.73 g/t Au from 164.69m incl. 4.31m @ 3.40 g/t Au (MBDD039)
• Gold mineralisation remains open along strike and down dip at BM Target 1
• Aurum recently secured 51% project interest² in the BM tenement and is working towards 80% project interest through a US$2.5M cumulative exploration spend commitment
• Diamond drilling continues at both Boundiali BD and BM tenements; assay results pending
• Aurum has six self-owned diamond rigs at Boundiali Gold Project with up to ~10,000m per month drilling capacity and is on target to complete 45,000m in CY2024
• Inaugural Mineral Resource Estimate for Boundiali Gold Project targeted for late CY2024
• Aurum is well-funded (~$20M) for continued aggressive exploration.

Aurum’s Managing Director Dr. Caigen Wang said: “We're delighted to report shallow, wide high-grade gold from our second round of drilling at BM Target 1 including 11.46m @ 6.67 g/t Au from 162.54m in MBD049, which is the best result to date on the BM tenement. Prior to this round of drilling, our geologists spent time reviewing previous drilling and mapping the prospects, which include some large artisanal pits, and we have been rewarded with these results.

With six rigs on site, we expect to achieve ~10,000m drilling per month, systematically exploring the full potential of the Boundiali gold project. 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.”

BM Target 1 - Latest Drill Results

Aurum reports results for five DD holes for 914.5m drilled at BM Target 1 on the BM Tenement, part of the second phase of drilling on the BM Tenement through which Aurum earned 51% project interest³ in the BM Tenement (ASX Announcement 9 September 2024). Best results for these holes⁴ include:

• 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)
• 10m @ 2.84 g/t Au from 120m incl. 8m @ 3.40 g/t Au (MBDD043)
• 6.31m @ 2.73 g/t Au from 164.69m incl. 4.31m @ 3.40 g/t Au (MBDD039).

These new results are in addition to diamond holes previously drilled by Aurum at BM Target 1 and reported on 22 January 2024 and 1 March 2024 which included the following significant results:

• 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).

Aurum’s geologists used information from previous drilling and mapped the prospects, which include some large artisanal pits, to design the second round of drilling at BM Target 1. True widths for these shallow wide high-grade gold intercepts at BM Target 1 are estimated at about 70% - 80% of reported downhole lengths.

Details of drill collar location and assay results for the new drilling on BM Target 1 are in Table 1 and Table 2 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 Aurum planning further work to follow up these initial results.

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. Exploration drilling on the early-stage BM tenement will continue to test for potential new discoveries.

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