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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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Aurum Resources
Investor Insights
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. Its cost-effective exploration strategy of drill rig ownership also distinguishes it 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.
Boundiali Gold Project – BD Target 1 Artisanal Working
Aurum has entered into a Bid Implementation Agreement with Mako Gold for Aurum to acquire 100 percent of the issued shares in Mako. This proposed merger will allow both Aurum and Mako security holders to benefit from the combination of Aurum’s strong balance sheet and exceptional drilling efficiencies with AU$23 million in cash at the end of December 2024 to support work programs targeted at further resource definition across Aurum and Mako’s assets in northern Côte d'Ivoire. Aurum is currently in its final phase of compulsory acquisition of remaining Mako shares after it received over 90% acceptance of MKG shares in late January 2025.
The merger is backed by a highly experienced board and management team with extensive gold experience from grassroots discovery, through to resource drill-out, feasibility studies, project finance, and production.
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.
- Aurum has announced a maiden independent JORC Mineral Resource Estimate (MRE) of 1.59 Moz gold for its 1,037sq. km 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 more than 12 months and over 100,000 metres of diamond drilling programs and metallurgical study
- Aurum’s acquisition of 100 percent of Mako Gold’s issued shares (ASX:MKG) is in its final stage of compulsory acquisition of the remaining MKG shares after Aurum received over 90 percent acceptance in late January 2025.
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 from late October 2023 to end of November 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, define new gold prospects and define maiden JORC resources. With over 63,000m diamond holes drilled during this period, Maiden JORC gold resources estimate was delivered in late December 2024.
Drilling costs are estimated at US$45 per metre, as Aurum owns all of its eight 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 percent and earning to 88 percent interest), PR414 (100 percent interest), and PR283 (earning to 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 planned for H1 2025 and H2 2025. 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.
In May 2024, Aurum entered a strategic partnership agreement to earn up to a 70 percent interest in exploration tenement PR283, to be renamed Boundiali North (BN). Aurum, through subsidiary Plusor Global Pty Ltd, has partnered with Ivorian company Geb & Nut Resources Sarl and related party (GNRR) to explore and develop the Boundiali North (BN) tenement which covers 208.87sq km immediately north of Aurum’s BD tenement. Further to this agreement,
Aurum announced it has earned 80 percent project interest after completing more than 20,000 m of diamond core drilling.
Boundiali Project JORC Mineral Resource Estimate
Aurum has announced a maiden independent JORC mineral resource estimate of 1.59 Moz gold for its 1,037 sq. km. The Boundiali Gold Project comprises the BST, BDT1 & BDT2, BMT1 and BMT3 deposits. Drilling is ongoing on these deposits, and Aurum has identified other prospects at Boundiali which have yet to be drilled. Since October 2023, the company has completed an extensive 63,927-metre diamond drilling program. This aggressive exploration campaign has rapidly defined a significant gold resource of 50.9 Mt @ 1.0 g/t gold for 1.6 million ounces.
A 100,000 m of drilling is planned and being carried out at Boundiali using eight self-owned diamond rigs to drive resource growth with two JORC resources updates in 2025.
In 2025, Aurum plans to launch a mining exploitation licence application and complete a PFS and environment study for the Boundiali Gold Project.
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.
Castle Minerals: Advancing Strategic Gold Exploration Assets in Ghana’s Upper West Region
Castle Minerals (ASX:CDT) is dedicated to advancing its Kpali and Kandia gold projects in Ghana’s Upper West region, a significantly under-explored yet highly prospective geological setting within the West African gold belt. The company is committed to identifying, exploring, and developing economically viable gold deposits by leveraging the region’s rich mineral endowment and proven mining history.
Castle’s portfolio is anchored by its flagship Kpali and Kandia gold projects, both demonstrating significant potential for resource expansion and economic development. Castle aims to delineate and grow its resource base, positioning itself as a key player in Ghana’s emerging gold sector. The company’s dedication to sustainable exploration practices and strong community partnerships further strengthens its ability to operate effectively and responsibly in the region.
The Kpali gold project, a key focus of Castle Minerals, is located 30 km west of Sawla in Ghana’s Upper West region. It includes the Kpali and Bundi prospects within the 170 sq km Degbiwu prospecting license (PL 10/26), surrounded by the 1,033 sq km Gbiniyiri retention license (RL 8/27). The licenses’ western boundaries follow the Black Volta River, bordering Burkina Faso.
Company Highlights
- 100 percent ownership of a 2,686 sq km strategic landholding in Ghana’s highly prospective Upper West region.
- Flagship Kpali and Kandia gold projects with high-grade gold mineralization and significant resource expansion potential.
- Strong management team with a proven track record in West African gold discoveries and project development.
- Proximity to the multi-million-ounce Black Volta gold project, enhancing economic potential and development synergies.
- Robust exploration pipeline with systematic drilling programs aimed at resource expansion and near-term development.
- Commitment to sustainable and responsible exploration practices, with strong community and government engagement.
- Positioned to capitalize on the growing global demand for gold through disciplined exploration and strategic partnerships.
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Castle Minerals
Investor Insight
Castle Minerals is a compelling investment opportunity, underlined by its 100 percent ownership of two high-potential gold projects, a seasoned management team with a track record of success, and a strategic location near multi-million-ounce gold deposits.
Overview
Castle Minerals (ASX:CDT) is an Australia-based exploration company dedicated to advancing high-value gold projects in Ghana, West Africa. The company holds a 100 percent interest in a highly strategic 2,686 sq. km land package within Ghana’s Upper West region, a significantly under-explored yet highly prospective geological setting within the West African gold belt.
Castle Minerals’ core mission is to identify, explore and develop economically viable gold deposits, leveraging the region’s rich mineralization and proven mining history. The company's management team brings extensive experience and a strong track record of successful discoveries, ensuring that exploration efforts are guided by industry-leading expertise and strategic execution.
Castle’s portfolio is centered around its flagship Kpali and Kandia gold projects, both of which exhibit strong potential for resource expansion and economic development. These projects are situated within prolific gold-bearing structures and have demonstrated high-grade mineralization through extensive exploration efforts. With a focus on systematic exploration, the company aims to delineate and expand resources while positioning itself as a leading player in Ghana’s growing gold industry. Castle’s commitment to sustainable exploration practices and strong community engagement further enhances its ability to operate effectively in the region.
Investment Highlights
- 100 percent ownership of a 2,686 sq km strategic landholding in Ghana’s highly prospective Upper West region.
- Flagship Kpali and Kandia gold projects with high-grade gold mineralization and significant resource expansion potential.
- Strong management team with a proven track record in West African gold discoveries and project development.
- Proximity to the multi-million-ounce Black Volta gold project, enhancing economic potential and development synergies.
- Robust exploration pipeline with systematic drilling programs aimed at resource expansion and near-term development.
- Commitment to sustainable and responsible exploration practices, with strong community and government engagement.
- Positioned to capitalize on the growing global demand for gold through disciplined exploration and strategic partnerships.
Key Projects
Kpali Gold Project
The Kpali gold project, a cornerstone of Castle Minerals' exploration efforts, is strategically located approximately 30 kilometers west of the regional town of Sawla in Ghana's Upper West region. Encompassing the Kpali and Bundi prospects, along with several satellite discoveries, the project area lies within the 170 sq km Degbiwu prospecting license (PL 10/26), which is encircled by the 1,033 sq km Gbiniyiri retention license (RL 8/27). Notably, the western boundaries of these licenses are delineated by the Black Volta River, marking the border with Burkina Faso.
Geologically, Kpali is situated at the convergence of two significant greenstone belts — the Bole-Bolgatanga and Wa-Lawra/Boromo belts — and three regional-scale structures. This unique positioning is associated with several major Birimian-hosted gold deposits in the region, enhancing the project's potential for substantial gold mineralization.
Recent exploration activities have yielded promising results. In February 2025, an eight-hole reverse circulation (RC) drilling program intersected shallow, high-grade mineralization in all holes. Notable intercepts include 12 meters at 8.29 grams per ton (g/t) gold from 25 meters, including 6 meters at 11.60 g/t gold from 31 meters, with a peak 1-meter intercept of 20.43 g/t gold at 36 meters. These findings have significantly upgraded the status of the Kpali gold prospect, suggesting the presence of multiple sub-parallel lodes with high-grade gold mineralization.
The broader district encompassing Kpali contains several other high-conviction prospects, reinforcing its potential as an emerging new exploration frontier. Castle Minerals plans to undertake further drilling programs, including step-out drilling, to delineate the extent of mineralization and assess the project's viability for future development.
In summary, the Kpali Gold Project's strategic location, favorable geology, and recent high-grade drilling results position it as a significant asset within Castle Minerals' portfolio, with the potential to evolve into a major gold production site in Ghana.
Kandia Gold Project
The Kandia gold project is situated in Ghana's Upper West Region. Discovered in 2010 during reconnaissance field mapping, the project encompasses a 16-kilometer-long corridor along a significant granite-sediment contact within Birimian greenstone terrain. This geological setting is known for hosting substantial gold mineralization, with the Kandia prospect itself identified through previously unknown artisanal workings spread over approximately 600 meters of strike.
Initial exploration efforts included extensive soil sampling, airborne geophysical surveys and RC drilling, totaling 264 holes over 19,541 meters. These activities led to the identification of two primary mineralized zones: the "4,000 Zone" and the "8,000 Zone."
Strategically, the Kandia project benefits from its proximity to major gold deposits. The 5.1-million-ounce Namdini gold project lies to the northeast on the same Bole-Bolgatanga greenstone belt, while the 2.8-million-ounce Black Volta gold project's Julie deposit is immediately along strike from the Kandia mineralized trend. This favorable location enhances Kandia's economic attractiveness and potential for development synergies.
Future exploration plans for Kandia involve extensional drilling at the "4,000 Zone" and targeted drilling in other areas with historically wide-spaced shallow drilling, such as the "8,000 Zone," where artisanal mining activities are also present. The primary objective is to delineate multiple near-surface, open-pitable deposits along the 16-kilometer prospective contact, advancing the project toward potential development.
Management Team
Stephen Stone - Executive Chairman
Stephen Stone has more than 30 years of experience in mining and exploration. As the former managing director of Azumah Resources, he led the discovery of a 2.5 Moz gold resource and 1.2 Moz ore reserve at the Wa gold project His expertise in West African gold exploration and project development is instrumental in guiding Castle’s strategic direction.
Matthew Horgan - Non-executive Director
Matthew Horgan brings a strong background in engineering, business development, and investor relations. His experience in strategic corporate growth and resource sector financing supports Castle’s development initiatives.
James Guy - Non-executive Director
James Guy is a geologist with extensive expertise in mining and exploration, specializing in gold and base metals projects across Africa and Australia. He has held senior executive positions with several ASX listed junior resources companies and with banking group, NR Rothschild & Sons. He is currently principal of James Guy & Associates
David Renner - Non-executive Director
David Renner has a strong track record in operations and corporate strategy for resource development. He is a key contributor to advancing the Kambale graphite project.
Hector Nyinaku, Non-executive Director
Hecto Nyinaku focuses on administration, finance and logistics within the mining industry. His strong networks in Ghana’s resource sector provide valuable operational support.
George Asomoah Boadu - Manager of Geology
George Asomoah Boadu has extensive field experience in Ghana’s gold and graphite exploration projects. His expertise is integral to defining Castle’s resource base and implementing effective exploration strategies.
Rua Gold
Investor Insight
Rua Gold offers a compelling investment opportunity driven by its highly promising gold assets in New Zealand’s historic gold-producing regions, and supported by the government’s renewed focus on fast tracking economic growth.
Overview
Rua Gold (TSXV:RUA,OTC:NZAUF,WKN:A4010V,OTCQB:NZAUF) is a gold exploration company focused on two prolific, historic gold-producing regions in New Zealand: Hauraki Goldfield and Reefton Goldfield. Both these regions boast of previous high-grade gold production, with more than 15 million ounces (Moz) produced in the Hauraki district and over 2 Moz in the Reefton Goldfield. New Zealand is a tier 1 mining jurisdiction with highly prospective geology, and a skilled workforce. The new government of New Zealand has committed to promoting economic growth through mining- and business-friendly policies, such as the Fast Track Approval Bill, which proposes quicker approval timelines for a range of projects, including mining.
New Zealand has a rich history of gold production from orogenic deposits (+9 Moz), epithermal sources (+15 Moz), and alluvial deposits (+22 Moz). The country has low sovereign risk with no corruption, making it an attractive destination for mining investment.
The company has launched a fully funded exploration program at its properties. This includes a 2,500-meter diamond drill program focused on the Pactolus prospect at Reefton Goldfield.
Rua Gold solidified its position as the dominant Reefton Goldfield explorer with the acquisition of Reefton Resources, a 100 percent owned subsidiary of Siren Gold (ASX:SNG). The completion of the transaction expands Rua Gold's tenement package to cover over 95 percent of the Reefton Goldfield.
New Zealand’s critical minerals list includes both gold and antimony, enhancing the significance of Rua Gold’s ongoing exploration campaign which revealed promising antimony potential. Rua Gold sits on the majority of New Zealand’s known antimony inventory, a strategic advantage that positions the Reefton Project to contribute substantial economic value while strengthening New Zealand’s critical mineral supply.
Rua Gold benefits from a team of professionals boasting extensive expertise in geology and mining. The company’s board of directors is led by Oliver Lennox-King (Fronteer, Roxgold), who has a successful track record developing projects and companies.
Company Highlights
- Rua Gold is a gold exploration company with two highly prospective land packages in New Zealand’s historic gold districts – Hauraki Goldfield and Reefton Goldfield.
- New Zealand is a tier 1 mining jurisdiction boasting highly promising geological formations and a significant history of gold production, with orogenic deposits (+9 Moz), epithermal sources (+15 Moz), and alluvial deposits (+22 Moz).
- The company’s two key assets include the Reefton Goldfield on New Zealand’s South Island and Glamorgan on New Zealand’s North Island.
- The new government is focused on stimulating economic growth, as evidenced by the recent Fast Track Approval Bill, which proposes fast-track approvals for a range of projects, including mining.
- Rua Gold has high-quality orogenic and epithermal gold prospects, boasting historical production grades ranging from 16 to 50 g/t gold.
- Rua Gold is fully permitted and fully financed with significant near-term catalysts. The company has launched an exploration program at its two properties. Drilling is ongoing at the company’s properties in the Reefton district.
- The company completed the acquisition of Siren Gold’s Reefton assets with tenements adjacent to Rua Gold’s suite of properties in New Zealand’s prolific Reefton Goldfield.
- A seasoned board and management team is at the helm of Rua Gold, with extensive regional knowledge and a proven track record of successful discoveries. With full financing and permits in place, the company is well-positioned to capitalize on growth prospects.
Key Projects
Reefton Goldfield
Rua Gold holds six project areas at the Reefton Goldfield – Northern, Capleston, Murray Creek, Ajax, Crushington and Southern. The Reefton district has a rich history of gold production with over 2 Moz of gold recovered at 24.5 g/t. Among the noteworthy findings from recent years of exploration is the greenfield discovery of the Pactolus quartz vein. Assays have unveiled significant high-grade gold concentrations in this vein.
Rua Gold’s systematic exploration has highlighted the potential for the rejuvenation of this district in renewed opportunities around the historic high-grade gold deposits. Rua Gold completed an extensive assessment of the historical mines situated within the company's tenements in the Reefton Goldfield, yielding five targets in the Murray Creek area.
Ongoing drill campaign at the Murray Creek prospects revealed all three drill holes intercepted visible gold within down-dip extensions of the historical Victoria lode, confirming vertical continuity over 100 meters, with the system remaining open at depth. Gold results in four of the six drill holes at Capleston, with the northernmost intercept showing an average of 4.8g/t gold over 3.3 m. Rua Gold implemented the Devico Navi-drilling technology which enhanced drilling accuracy and cost efficiency during the resource definition phase.
Glamorgan Project
The Glamorgan project comprises over 4,600 hectares in the Hauraki district on New Zealand’s North Island. Hauraki boasts of a substantial presence of high-grade gold and silver mining, with approximately 50 epithermal deposits mined since the 1860s. These deposits have yielded over 15 Moz of gold and 60 Moz of silver. Glamorgan has a 3.8 km zone displaying indications of gold mineralization, backed by soil and rock samples, suggesting the presence of an epithermal gold mineralized system at the property.
Glamorgan is located 2.8 kms north of Oceana Gold’s recent significant discovery at Wharekirauponga. The company has applied for a minimum impact access agreement with the New Zealand Department of Conservation. Once granted, the company will commence an exploration program that includes soil sampling, magnetic and resistivity geophysical surveys, and geological mapping.
Rua Gold completed the first phase of surface exploration on its Glamorgan epithermal gold prospect which identified two significant soil anomalies over 4 kms in length. Significant gold grades (8 to 43 ppm gold) were recorded in rock float and in situ rock samples from detailed geological mapping. Controlled source audio-frequency magnetotellurics (CSAMT) ground geophysics has commenced as a precursor to the company’s targeted diamond drilling.
Management Team
Oliver Lennox-King – Non-executive Chairman
Oliver Lennox-King boasts a distinguished and extensive career within the mineral resource sector, encompassing a broad experience in financing, research and marketing. Since 1992, he has occupied senior executive and board roles in various junior exploration and mining enterprises. Most recently, Lennox-King was the chairman of Roxgold from 2012 until July 2021 when it was sold for $1.2 billion to Fortuna. In addition to Roxgold, he also served as chairman of other notable firms, including Pangea Goldfields, Aurora Uranium and Fronteer Gold.
Robert Eckford – CEO and Director
Robert Eckford is a certified professional accountant with significant expertise in mergers and acquisitions, accounting, finance and commercial management within the mining sector. Most recently he was co-founder and head of finance for Aris Mining, and prior to that, has worked with international mining companies, including Barrick Gold, Yamana Gold and Leagold Mining.
Simon Henderson – COO and Director
Simon Henderson is an exploration specialist and has over 40 years of experience, most of which is in New Zealand. He was part of the discovery team for several significant gold finds in New Zealand, such as Wharekirauponga. He maintains robust connections with key local stakeholders and the country's permitting authorities.
Zeenat Lokhandwala – CFO and Corporate Secretary
Zeenat Lokhandwala brings over a decade of expertise in mergers and acquisitions, finance, accounting and taxation. She is the former CFO of Great Bear Royalties and director of finance at Great Bear Resources.
Brian Rodan - Director
Brian Rodan has more than 43 years of experience who is currently serving as Fellow of the Australian Institute of Mining and Metallurgy. Rodan is the founding director of Dacian Gold (ASX:DCN)
Mario Vetro - Director
Mario Vetro has extensive experience structuring and providing guidance to resource companies. He is the co-founder of K92 Mining and the proprietor of Commodity Partners.
Paul Criddle - Director
Paul Criddle has extensive experience constructing and overseeing gold mines in Australia and West Africa. He was formerly a chief operating officer for West Africa at Fortuna and also served as the COO for Azimuth and Perseus. He was previously the managing director at Matador Mining.
Tyron Breytenbach – Director
Tyron Breytenbach is a geologist with operational and capital markets experience. He is currently the CEO of Lithium Africa Resources. Previously, he was senior vice-president of Capital Markets at Aris Mining and served as managing director at Cormark Securities. Before transitioning to capital markets, Breytenbach spent a decade in the mining sector as a geologist, focusing on orogenic and epithermal gold deposits and specializing in resource estimation. He earned his BSc (Honours) degree from Rand Afrikaans University in South Africa and is a designated professional geologist in Ontario.Aurum Resources Investor Kit
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