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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