Aurum Resources Announces High Gold Recovery Rates at Boundiali Gold Project
AUE (AUE) Share Update December 2024 Sunday 22nd
Aurum Resources Achieves Over 95% Gold Recovery at Boundiali Project
Aurum Resources Limited (ASX: AUE) has announced promising results from metallurgical testwork at its Boundiali Gold Project in Côte d'Ivoire, revealing gold recoveries in excess of 95%.
Instant Summary:
- Gold recoveries of 95-99% achieved through gravity and leaching methods.
- Significant reduction in cyanide and lime consumption by 32% and 40%, respectively.
- Aurum plans to drill 100,000m in 2025 with six self-owned diamond rigs.
- Inaugural Mineral Resource Estimate expected by end of 2024.
- Aurum's takeover of Mako Gold declared unconditional.
Metallurgical Testwork Results
Aurum Resources Limited has released results from its ongoing metallurgical testwork at the Boundiali Gold Project, demonstrating high gold recovery rates. The testwork, conducted on diamond core samples from various material types, shows that gold can be recovered at rates between 95% and 99% using a combination of gravity separation and leaching methods.
These results are particularly significant as they indicate a reduction in reagent consumption, with lime and cyanide usage decreasing by 32% and 40%, respectively, compared to whole ore cyanidation leaching. This reduction not only lowers operational costs but also lessens the environmental impact of the mining process.
Project Advancements
The Boundiali Gold Project is progressing rapidly, with Aurum planning to drill 100,000 meters in 2025 using its six self-owned diamond rigs. The company is on track to deliver an inaugural Mineral Resource Estimate for the project by the end of 2024, which will provide a clearer picture of the project's potential.
Corporate Developments
In addition to the promising testwork results, Aurum has successfully declared its takeover of Mako Gold unconditional, having surpassed the 70% ownership threshold. This strategic acquisition strengthens Aurum's position in the region and enhances its exploration capabilities.
The high gold recovery rates and reduced reagent consumption are likely to positively impact Aurum's stock price, as they suggest improved project economics and environmental sustainability. The anticipated Mineral Resource Estimate will further solidify the project's value, attracting investor interest.
Investor Reaction:
Analysts are expected to react positively to the announcement, given the high recovery rates and cost-saving measures. The strategic acquisition of Mako Gold is also viewed favorably, as it enhances Aurum's exploration portfolio.
Conclusion:
Investors should keep a close eye on Aurum's upcoming Mineral Resource Estimate and continued exploration activities at Boundiali. The company's strategic initiatives and promising testwork results position it well for future growth.