Aurum Resources

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.


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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Cautionary Statements

This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the completion of the Offering and the timing thereof, and the anticipated use of proceeds of the Offering are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "should" or "would" or occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will complete the Offering on the terms disclosed, that the Company will receive all necessary regulatory approvals for the Offering, that the Company will use the proceeds of the Offering as currently anticipated; and assumptions relating to the state of the financial markets for the Company's securities. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company may not be able to raise funds under the Offering, as currently anticipated, that the Company may fail to receive any required regulatory approvals for the Offering, that the Company will not use the proceeds of the Offering as anticipated, market volatility, unanticipated costs, changes in applicable regulations, and changes in the Company's business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

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