Aurum Quarterly Report for the Period Ending 30 June 2024

Aurum Resources Limited (Aurum or the Company) (ASX: AUE) provides the following summary and Appendix 5B for the Quarter ended 30 June 2024.

HIGHLIGHTS

• Aurum’s planned 45,000m diamond drilling program for CY2024 continued during the quarter, with results reported from BD Targets 1 and 2. Results from BDT1 included:
  • 59m @ 1.42 g/t Au from 68m inc. 13m @ 3.92 g/t Au (DSDD0010)
  • 23m @ 1.36 g/t Au from 293m inc. 5m @ 3.32 g/t Au &
  • 43m @ 0.96 g/t Au from 321m inc. 7m @ 1.73 g/t Au (DSDD0049)
  • 9m @ 2.32 g/t Au from 109m inc. 1m @ 16.82 g/t Au &
  • 90m @ 1.16 g/t Au from 143m inc. 51m @ 1.04 g/t Au and 35m @ 1.47 g/t Au (DSDD0050)
  • 12.22m @ 14.56 g/t Au from 275m inc. 1m @ 163.42 g/t Au (DSDD0051)
  • 69m @ 1.05 g/t Au from 195m inc. 12m @ 2.28 g/t Au (DSDD0060A)
  • 10m @ 1.97 g/t Au from 131m inc. 2m @ 7.37 g/t Au (DSDD0057)
• Diamond drilling has now hit multiple +50 gold gram metre1 intercepts over 300m strike at BDT1
• Results from BDT2 included:
  • 74m @ 1.00 g/t Au from 167m inc. 1m @ 24.73 g/t Au & 6m @ 3.31 g/t Au from 99m & 8m @ 1.51 g/t Au from 71m (DSDD0044)
  • 33m @ 0.84 g/t Au from 146m inc. 1m @ 9.95 g/t Au (DSDD0046)
  • 1m @ 10.01 g/t Au from 71m (DSDD0024)
• Aurum-owned fleet expanding to six diamond drill rigs with drilling capacity at ~10,000m per month in August 2024
• Aurum is targeting an initial Mineral Resource Estimate for Boundiali in late CY2024
• Boundiali preliminary metallurgical test work delivers gold recoveries up to 99% from oxide ore and more than 93% for samples grading 0.25g/t Au or higher2
• Aurum plans additional metallurgical to establish and optimise processing flowsheets
• Côte d’Ivoire’s Minister for the Ministry of Mine, Petroleum and Energy approved Aurum’s 80% ownership of the BD exploration permit.

CORPORATE

• Aurum received firm commitments for a $17M Share Placement in two tranches, with first tranche completed; additional Share Purchase Plan raised $744,1003 with flexibility to place shortfall subject to approval from shareholders’ meeting to be held on 6 August 2024
• Aurum announced a strategic partnership agreement to earn up to a 70% interest in exploration tenement PR283, to be renamed Boundiali North (BN)
• Aurum appointed Mark Strizek as Executive Director to guide exploration and development of the Company’s Boundiali Gold Project in Côte d’Ivoire, West Africa
• Aurum appointed Yao N’Kanza (Fred) as Country Manager to expedite project and business development initiatives in Côte d’Ivoire, while progressing field exploration at Boundiali.
• Aurum successfully completed 3,500m diamond drilling at a gold project site owned by Turaco Gold Limited (“Turaco”) and to the satisfaction of Turaco for the purchase by Plusor Global Pty Ltd for a 35% shareholding in DS Resources Joint Venture Company Sarl which owns 100% interest in the BD exploration permit (TCG, ASX, 7/11/2023).
• Aurum had cash available $10.8 million in bank at the end of June 2024 with $9.46 million to be received from Tranche 2 of the $17M capital raise subject to approval from shareholders’ meeting to be held on 6 August 2024.

Click here for the full ASX Release

This article includes content from Aurum Resources, 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.