Boundiali Preliminary Metallurgical Test Work Delivers Gold Recoveries up to 99%

Highlights

• Excellent Gold Recovery: Bottle roll tests on 50 samples from BDT1 confirm gold mineralization is free milling, with cyanide leach recoveries consistently exceeding 93% for samples grading 0.25 g/t gold or higher
• Oxidized Ore Excels: Oxide samples exhibit exceptional gold recoveries, averaging 97.5% and reaching a maximum of 99%
• Consistent with Expectations: The metallurgical response aligns with typical free-milling ores found in similar deposits
• Further Testing Planned: Additional metallurgical work will be conducted to establish and optimise processing flowsheets
• Well-Funded: Aurum received firm commitments for a $17M Share Placement in June with Shareholders to vote on Tranche 2 on 6 August 2024

Aurum’s Managing Director Dr. Caigen Wang said: “Preliminary gold recoveries meet our expectations and confirm gold at BDT1 is highly amenable to standard cyanide leaching. While further work is needed, these are very encouraging results.

We are well funded following a recent Share Placement and Share Purchase Plan and rapidly expanding our drilling program at Boundiali. We will have six Aurum-owned diamond rigs running from the end of August as we target delivery of an initial JORC resource for Boundiali by the end of 2024.”

Metallurgical Test Work Summary

Preliminary test work involved 50 coarse reject samples from various depths, lithologies, and oxidation states at BDT1. Samples were prepared and analysed by Intertek laboratories in Ghana.

These samples were selected from a representative range of gold grades (likely to be encountered in an open pit), lithologies and oxidation states. Samples were selected from diamond core holes drilled by Aurum at BDT1 this year and cover a subset of that prospect over a volume bounded by 300m (east to west) and 550m (south to north) and down to 328m below surface (average depth of 106m below surface).

Preparation and analysis of the samples was undertaken by Intertek laboratories in Ghana. Samples were pulverized to 85% passing 75-micron (85% of the particles are smaller than 75 microns) and then subjected to a bottle roll cyanide leach for 24 hours using the cyanide (CL1000/AA) technique with an analysis on the leach liquor to measure the leach gold grade. The residue was then filtered and analysed by 50g fire assay (FA50T/AA) to show the remaining gold (tail grade). The sum of the leach grade and the tail grade represents the calculated head grade of the original sample (total gold). The calculated gold recovery is estimated by dividing the leach grade by the total gold grade.

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