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Tempest Minerals Ltd (TEM) is pleased to update the market on the Remorse Project. After significant weather related delays, safe access has been established and earthworks at the Remorse Target have commenced. This work includes critical site access and drill pad construction. It is expected that upon the completion of this work that drilling will commence shortly thereafter in late August 2024.
Key Points
- Access and pad construction in progress at Remorse Target
- Drilling to commence as soon as safely possible
Yalgoo Project
Remorse Target Drilling
TEM have previously announced its plans to conduct a circa 5,000m Reverse Circulation (RC) drilling program at the exciting Copper focussed Remorse Target 1 which is part of the Company’s flagship Yalgoo Project. Works have been significantly delayed due to unforeseen weather and flooding onsite 2 which have prevented safe access. Earthworks have now commenced including site access tracks and drill pad construction. Upon completion of this work, drilling is anticipated to start late August 2024.
Figure 01: Earthworks commencing at the Remorse Target
Next Steps
- Earthworks to be completed
- Drilling expected to commence late August 2024
The Board of the Company has authorised the release of this announcement to the market.
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This article includes content from Tempest Minerals 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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Tempest Minerals
Investor Insights
The continued positive outlook for gold and copper is creating a strong macro economic environment for Tempest Minerals supported by its highly prolific assets with potential for world-class deposits.
Overview
Tempest Minerals (ASX:TEM) is an exploration and development company based in Australia, with a diversified portfolio of mineral assets prospective for gold, copper, rare earths (REE), lithium and base metals. The company has five projects located in prolific territories in Western Australia: Yalgoo (gold, copper, zinc, silver, iron ore, tungsten, rare earths and more), Mt Magnet (gold, REE), Five Wheels (gold, base metals), Elephant (gold) and Rocky Hill (lithium). Its flagship Yalgoo property is a large land package comprising several targets, located in the prolific Yalgoo Region of Western Australia. Following extensive field exploration and a large geophysical survey, Tempest has defined two exceptional targets - Remorse (copper) and Sanity (gold) - which will be the focus of drill programs in the near term. A third drill target, Wrangler (gold), has also been identified in the Mt Magnet project.
Tempest Minerals is headquartered in Perth, Australia.
Tempest Minerals is led by an experienced board and management team with a history of exploration, operational and corporate success, key to executing the company’s mission to maximise shareholder value through focused, data and technology-driven asset exploration and development.
Company Highlights
- Tempest Minerals’ exploration and development projects are primarily located in Western Australia and highlight a multi-commodity strategy in regions with a strong mining history.
- The company’s main strategy is to promote a project pipeline coupled with hands-on exploration methods aimed at identifying high-growth assets.
- Tempest is embarking on a 5,000 metre drilling campaign at the Remorse target at its Yalgoo project that should generate positive news flow and provide near-term support for the stock.
- This year’s work will focus on delineating additional mineralised systems to define larger targets.
Key Projects
Yalgoo Property
Tempest’s largely unexplored and 100-percent-owned Yalgoo property covers more than 1,000 square kilometres and is highly prospective for gold and base metals with world-class potential. It is located four hours from Perth, close to major infrastructure and adjacent to world-class gold and copper mines, including Golden Grove, Minjar, Rothsay, Mt Mulgine and Deflector.
Tempest has identified two drill targets within Yalgoo, which will be the focus of near-term drilling and exploration work. The Remorse target is prospective for copper and features a 4-kilometre base metal anomaly, with extremely coherent surface geochemistry. The target will undergo a 5,000-metre drilling program in July. The Sanity target is highly prospective for gold, with rock chip samples returning 7 grams per ton (g/t) gold, 0.2 percent copper, and more than 60 percent iron.
Mt Magnet
The 100-percent owned Mt Magnet project spans more than 20 square kilometres located within a world-class mining district and is 5 kilometres from a processing facility. A prolific mining destination with at least 6 million ounces of gold produced to date, the project is surrounded by multiple large-scale gold mines currently in operations, including Dalgaranga and Kirkalocka. The project contains multiple drill targets, of which Wrangler will be a key focus of near-term work.
Elephant
The Elephant project is a 194 square kilometre property in the prolific Fraser Range region with large geological structures and multi-million-ounce targets. The project area itself has strong magnetic anomalies and an 8-kilometre gold in soil geochemical anomaly which could represent a large subsurface gold system.
Five Wheels
The 100-percent owned, 266-square-kilometre Five Wheels project is geologically similar to Rumble Resources’ zinc-lead-copper discoveries and sits within the boundaries of the Earaheedy Basin in Western Australia, a mineralised sedimentary basin. A major geophysics program is planned for the project, co-funded by the government.
Management Team
Brian Moller – Non-executive Chairman
Brian Moller specialises in capital markets, mergers and acquisitions, and corporate restructuring and has acted in numerous transactions and capital raisings in both the industrial and resources and energy sectors. He has been a partner at the legal firm HopgoodGanim for 30 years and leads the corporate advisory and governance practice. Moller acts for many publicly listed companies in Australia and regularly advises boards of directors on corporate governance and related issues. He is currently chair or a non-executive director of a number of ASX listed companies and was critical in the progression of the high-profile LSE-listed SolGold PLC into becoming one of the largest copper-gold developments in the world.
Don Smith – Managing Director
Don Smith is a geologist and entrepreneur with over 20 years in the mining industry. He has worked in operational, development, exploration and consulting roles for junior through multinational firms intensively internationally on numerous commodities, including base and precious metals and energy minerals.
Smith’s corporate experience includes project acquisition, financing and development, and company management. He has been the founding director of a number of private and public resource companies, including the successful listings on the ASX of Platypus Resources and Alderan Resources. Smith has a Bachelor of Science from Newcastle University and a Master of Business Administration from the Australian Institute of Business.
Andrew Haythorpe – Non-executive Director
Andrew Haythorpe has 30 years’ experience in geology and funds management and has been the director and chairman of a number of TSX and ASX listed companies. Since 1999, Haythorpe has been involved in over AU$300 million of mergers and acquisitions and capital raisings in mining and technology companies listed on the TSX and ASX.
He is currently the managing director at Allup Silica, Goldoz and Stunalara Metals, where he is also a founder. He has previously been a fund manager and analyst at Bankers Trust, an analyst at Suncorp (now a Top 20 ASX-listed company with some AU$96 billion in assets), and a director at Hartley Poynton. More recently, he was the managing director of Crescent Gold, leading that company from a junior explorer to a mid-tier producer within four years; and the managing director of Michelago Resources, which became one of the top-performing ASX-listed companies on its transition to gold production in China.
Owen Burchell – Non-executive Director
Owen Burchell is a mining engineer with 20 years of technical, operational and corporate experience, including management positions at Rio Tinto, BHP and Barrick Gold, as well as numerous mining start-ups, closures and operational turnaround projects.
Burchell holds several post-graduate business qualifications from the West Australian School of Mines and is the holder of a First Class Mine Managers Certificate of Competency. He is also a member of the Australasian Institute of Mining and Metallurgy and a graduate of the Australian Institute of Company Directors.
Burchell currently consults on numerous projects in the resource sector.
Dynasty Gold: Gold-focused Exploration with High-grade Gold Assets in Canada and the US
Dynasty Gold (TSXV:DYG) offers a compelling investment value proposition with its 100-percent-owned Thundercloud and Golden Repeat gold assets in Canada and the US. The company is advancing its key asset, the high-grade Thundercloud gold project, located in Northwest Ontario, Canada, a highly prospective property with significant exploration upside. The property was acquired from Teck Resources in 2021, with $10 million in previous exploration expenditure and an NI 43-101 resource estimate completed in December 2021.
The Thundercloud gold project is located in the Archean Manitou-Stormy Lakes Greenstone Belt in Ontario, Canada. Thundercloud spans 2,250 hectares and is part of the Wabigoon Subprovince, known for hosting several significant gold deposits. The project has been de-risked by the amount of drilling by Teck Resources in the 2000s. Dynasty has benefited from Teck’s datasets and is able to expedite its exploration and advance it to the current resource within two years from its maiden drill program on the property.
Historical drilling and exploration at Thundercloud have identified several zones of gold mineralization, with high-grade intercepts suggesting the presence of an extensive gold system
Company Highlights
- Dynasty Gold has two highly prospective, high-grade gold projects in North America - Thundercloud and Golden Repeat.
- The flagship Thundercloud project, acquired from Teck Resources in 2021 and with more than $10 million in previous exploration expenditures, is the current focus of Dynasty’s exploration and drilling program.
- Drilling and exploration work done by Dynasty to date has effectively increased the resource at Thundercloud from 187,000 ounces inferred to 232,000 ounces measured and indicated at a high grade of 8.04 g/t gold at 3.03 g/t cut-off, a possible open-pit operation. At 0.5 g/t cut-off, the project hosts 439,000 oz at 2.14 g/t. To date, more than 90 percent of the drill holes are less than 250 meters and 90 percent of the property has seen little drilling.
- Thundercloud is a brownfield project with extensive historical data, making it a lower-risk investment compared to other greenfield exploration projects.
- Dynasty’s second asset, the Golden Repeat gold project, is located within the Midas Gold Camp in Elko County, Nevada. The project is drill-ready with permits in place.
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Dynasty Gold
Investor Insight
With a portfolio of brownfield, high-grade gold assets with millions of dollars in exploration expenditures, Dynasty Gold stands apart from its peers and offers a compelling investment value proposition.
Overview
Dynasty Gold (TSX-V:DYG) is a Canadian mineral exploration and development company with two 100-percent-owned gold assets in Canada and the US: Thundercloud and Golden Repeat.
Dynasty Gold is currently focused on advancing its key asset, the high-grade Thundercloud gold project, located in Northwest Ontario, Canada, a highly prospective property with significant exploration upside. The property was acquired from Teck Resources in 2021, with $10 million in previous exploration expenditure and an NI 43-101 resource estimate completed in December 2021.
Its second exploration project, Golden Repeat, is located within the Midas Gold Camp in Elko County, Nevada. The project is drill-ready with permits in place.
Established in 2000 and headquartered in Vancouver, British Columbia, Dynasty Gold is led by a highly experienced management and technical team setting the company on a strategic path to success. Larry Kornze, the company’s VP of exploration, is credited for the discovery of Barrick's 40 million ounce gold deposit at the Betze Mine, on the Carlin Trend in Nevada. More than 50 percent of the company is owned by insiders and long-term shareholders, including Rob McEwen, Dynasty’s largest shareholder.
Company Highlights
- Dynasty Gold has two highly prospective, high-grade gold projects in North America - Thundercloud and Golden Repeat.
- The flagship Thundercloud project, acquired from Teck Resources in 2021 and with more than $10 million in previous exploration expenditures, is the current focus of Dynasty’s exploration and drilling program.
- Drilling and exploration work done by Dynasty to date has effectively increased the resource at Thundercloud from 187,000 ounces inferred to 232,000 ounces measured and indicated at a high grade of 8.04 g/t gold at 3.03 g/t cut-off, a possible open-pit operation. At 0.5 g/t cut-off, the project hosts 439,000 oz at 2.14 g/t. To date, more than 90 percent of the drill holes are less than 250 meters and 90 percent of the property has seen little drilling.
- Thundercloud is a brownfield project with extensive historical data, making it a lower-risk investment compared to other greenfield exploration projects.
- Dynasty’s second asset, the Golden Repeat gold project, is located within the Midas Gold Camp in Elko County, Nevada. The project is drill-ready with permits in place.
Key Projects
Thundercloud Project
The Thundercloud gold project is Dynasty Gold’s flagship asset, located in the Archean Manitou-Stormy Lakes Greenstone Belt in Ontario, Canada. The property spans 2,250 hectares and is part of the Wabigoon Subprovince, which is known for hosting several significant gold deposits. The project has been de-risked by the amount of drilling by Teck Resources in the 2000s. Dynasty has benefited from Teck’s datasets and is able to expedite its exploration and advance it to the current resource within two years from its maiden drill program on the property.
The project has seen various phases of exploration, including drilling, geophysics, and surface sampling, all of which highlight the presence of a high-grade gold deposit. Thundercloud comprises two main zones – Pelham and West Contact.
The project area is characterized by a mix of metavolcanic and metasedimentary rocks, which are favourable hosts for gold mineralization. The presence of extensive deformation, faulting and hydrothermal alteration within these rocks suggests a high potential for gold deposition. The gold mineralization at Thundercloud is primarily associated with shear zones and quartz-carbonate veins, typical of orogenic gold deposits. These types of deposits are known for their size and high-grade gold potential.
Thundercloud’s high-grade mineralization sets it apart from neighbouring gold projects with relatively lower grade gold intercepts, including NexGold’s Goliath and Goldlund gold projects with a resource of 1.5 Moz of gold at 1.5 g/t, and 2.3 Moz gold at 1.5 g/t, respectively. NexGold’s similar market valuation, highlights the market’s underappreciation of Dynasty Gold’s advanced-stage, higher-grade asset.
Historical drilling and exploration at Thundercloud have identified several zones of gold mineralization, with high-grade intercepts suggesting the presence of an extensive gold system. During the 2022 and 2023 drilling seasons the company successfully increased its non-compliant internal resource estimate to approximately 250,000 oz gold (this is an internally generated new model, which is not NI 43-101 compliant). The company aims to have an updated NI 43-101 Resource Estimate by the end of the year.
There are 87 drill holes for a total of approximately 16,793 meters of drilling within the Thundercloud database used to support the internal mineral resource estimation. Drill holes have intercepted mineralization at depths of up to 350 m below surface. Gold mineralisation has been defined along a strike length of 430 m and 150 m down-dip.
Pelham Zone
The Pelham Zone is the most advanced exploration target within the Thundercloud project. It is 47 m south-east of Dryden in Northwest Ontario. It has been the focus of much of the drilling and exploration efforts due to its substantial high-grade gold potential. During the 2022 exploration season, the discovery hole DP22-03 returned 8.42 g/t over 73.5 m including 6.5 m of 72.2 g/t. The zone is characterized by a series of east-west trending shear zones containing quartz-carbonate veins with visible gold. These shear zones are hosted within mafic metavolcanic rocks, which have undergone significant hydrothermal alteration.
West Contact Zone
The West Contact Zone is located to the southeast of the Pelham Zone. Limited drilling in the West Contact Zone has encountered gold mineralization associated with quartz veins and brecciated zones, with grades comparable to those found in the Pelham Zone. Further exploration is planned to expand on these initial findings. A rock chip sampling program was completed in the West Contact zone, an area immediately to the south of where Teck’s trenching data returned 8.02 g/t gold over 39 meters. The assay results from the program extended the mineralization by 30 meters. Total surface mineralization is 69 meters averaging 5.85 g/t gold. Follow-up drilling will start in September and October of this year.
2024 Summer and Fall Exploration Program
Dynasty completed approximately 2,200 meters of drilling in August 2024 to further delineate the resource. Drilling will continue in September. Assay results are pending.
Golden Repeat Project
The company owns 100 percent interest in the Golden Repeat gold property situated in the Midas region of Nevada. In summer 2011, Dynasty conducted a three-hole test drill program to follow up the Romarco drill program that was conducted in the 1990s. Assay results returned up to 3.4 g/t over 1.7 m gold and 44 g/t silver. Very little drilling has been done on Golden Repeat.
Management Team
Ivy Chong – President, CEO and Director
Ivy Chong has held senior executive positions in the mining and oil and gas industries since 1996. She was credited for closing several option and joint venture agreements with Teck, AngloGold Ashanti, Azimut, Avocet Mining, and many others. Chong has assisted multiple companies with their IPOs and raised capital for resource companies in Asia, Europe and North America. Prior to entering the resource industry, she worked for the Hong Kong Stock Exchange and Deloitte and Touche, LLP.
Roman Shklanka – Director
Roman Shklanka is an explorationist with over 45 years of international experience in the mining industry. His past positions include, chairman of Canico Resources, which was acquired by CVRD (Vale) in 2005; chairman of Sutton Resources, acquired by Barrick Gold Corporation; and vice-president of exploration for Placer Dome. He was responsible for the acquisition and exploration of numerous major mines, among them the Australian Granny Smith gold mine, Osbourne copper mine and the Kidston gold mine. He has received a number of achievement awards and was inducted into the Canadian Mining Hall of Fame in 2009.
Larry Kornze – VP Exploration and Director
Larry Kornze brings more than 30 years of international gold exploration experience. Kornze was credited with the discovery of Barrick's 40 million ounce gold deposit at the Betze Mine on the Carlin Trend in Nevada, in the late 80s. He was part of Barrick's team responsible for the discovery of the Miekle, Deepstar, Screamer and Rodeo deposits in Nevada. Kornze has held positions with Newmont and Getty Mining in North America, prior to joining Barrick Gold.
Richard Redfern – Director
Richard Redfern is a certified professional geologist and “qualified person” under NI 43-101 and a consultant with 35 years of exploration and mining industry experience worldwide. He held positions as senior exploration geologist with Barrick Gold in Mexico, VP Exploration for Goldstake Explorations in South Dakota and Australia, and has worked for Homestake Mining in the western United States. Redfern has extensive exploration experience in gold and porphyry-type prospects in the southwestern US, Mexico and British Columbia. He was instrumental in the recent discovery of the Moly Dome molybdenum-rhenium-gold-silver porphyry deposit in northern Nevada.
Nightflower Exploration Target Upgrade Following Antimony Price Increase
Highlights:
- Nightflower project is a high grade silver deposit with historically impressive intersections from past drilling including 9 m @ 506g/t Silver (>16 oz/t), 12.6% Lead, and 1.46% Zinc.1
- An Exploration Target range reported on 6 June 2022 has now been substantially upgraded to 2.75 Mt @ 364 g/t Ag Eq for 32 Moz Ag Eq to 5.36 Mt @ 270 g/t Ag Eq for 47 Moz Ag Eq. The Exploration Target is conceptual in nature only and there is no guarantee that further exploration will define a resource.
- Antimony has contributed to the Exploration Target, however, recent significant increases in the Antimony price due to China's export restrictions have improved the project’s economics.
- Historical drilling results indicate Antimony grades up 3.05m @ 9.0% Sb, 24.0% Pb, 10.5% Zn, 14.9 oz/t Ag, and 0.38% Cu (Hole NF72DD11), although the Exploration Target is based on a 1% Sb grade.
- Drilling is now being planned to test the target and upgrade previously identified mineralisation to JORC 2012 reporting standards.
In mid-August China, the world’s largest producer of Antimony – producing 83,000t in 2023 (USGS) - accounting for 48% of the world’s supply, will be restricting Antimony exports from 21 September 2024. Consequently, the Antimony price has significantly increased and is currently trading at US$24,500/tonne (Argus Metals, Antimony ingot min 99.65% fob China).
The revised Exploration Target is summarised in Figure 1, incorporating the original tonnages from the 6 June 2022 announcement with revisions to the grade range, detailed later in this report.
Figure 1. Revised Exploration Target. Note: The Exploration Target is conceptual in nature only and there is no guarantee that further exploration will define a resource.
The estimated Antimony content range within the Exploration Target is summarized in Figure 2 below.
Figure 2. Revised Exploration Target with an estimated contained Antimony range. Note: The Exploration Target is conceptual in nature only and there is no guarantee that further exploration will define a resource.
Tartana Minerals Managing Director, Stephen Bartrop, commented:
“Significant increases in our Exploration Target, Antimony prices, and consequently the economics of the project underpins the importance of the Nightflower project. With production at the Tartana mine site reaching steady state, this opportunity is only more significant. Further this represents only one target (The Digger Lode mineralisation) and excludes the prospectivity of the adjacent Terrace lode and a possible further discovery.”
Nightflower Silver Project History
The Nightflower project is located 40 km north of Chillagoe in Far North Queensland. It covers a substantial part of the northern Featherbed Volcanic Group and the underlying and surrounding Hodgkinson Formation.
It was discovered as a high grade silver deposit in 1923 and was visited by the Queensland Premier in October 1923. On the Premier’s return to Brisbane he reported that the ore at Nightflower was very rich and a truck-load treated at Chillagoe gave about 30% of lead and 40 ounces of silver to the ton (Source: Qld Govt Mining Journal Vol XXIV, Oct 1923).
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This article includes content from Tartana Minerals 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.
Grande Portage Resources: Advancing the High-grade Herbert Gold Project in Alaska
Grande Portage Resources (TSXV:GPG;OTCQB:GPTRF);OTCQB:GPTRF) is a publicly held junior resource company exclusively focused on exploring and developing gold assets in southeast Alaska. The company is advancing its 100 percent owned Herbert Gold project, situated approximately 25 km north of Juneau, Alaska, within the historic Juneau Gold Belt, which has produced over 7 million ounces of gold.
The Herbert Gold project has an updated mineral resource estimate of 1.44 million ounces at 9.47 g/pt gold indicated resource, and 515,700 ounces at 8.85 g/pt gold inferred resource.
Herbert Gold ProjectThe Herbert Gold project is an exploration stage, high-grade, mesothermal quartz vein system in the historic Juneau Gold Belt of southeast Alaska. Herbert consists of 91 unpatented lode claims located 25 km north of Juneau and to the south of Coeur Alaska's profitable Kensington gold mine. The property covers six parallel vein structures exposed at surface.
Grande Portage released an updated MRE on the project (2024) for 1.44 Moz (4.7 Mt at 9.5 g/t gold) and 0.5 Moz (1.8 Mt at 8.9 g/t gold) in the indicated and Inferred categories, respectively. The Herbert property remains open at depth and along strike. Overall, six or more promising gold-producing vein-fault structures that contain ribbon structures and quartz-sulfides are located on the property. Herbert Gold is one of Alaska's most promising districts and has remained remarkably underexplored.
Company Highlights
- Grande Portage Resources is a junior resource company advancing its high-grade Herbert Gold project, located in a prolific gold belt in Alaska.
- Strong management team led by Ian Klassen who has 20 years’ experience in business management, public relations and government affairs.
- The company’s flagship Herbert Gold project, located near Juneau, Alaska, boasts a resource of 1.44 million ounces at 9.47 g/pt gold, and inferred resource of 515,700 ounces at 8.85 g/pt gold.
This Grande Portage Resources profile is part of a paid investor education campaign.*
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Aurum Hits 40m at 1.03 g/t Gold at Boundiali BD Target 1
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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