Aurum Resources Unveils Promising Gold Intercepts at Boundiali Project
AURUM RESOURCES LIMITED (AUE) Share Update September 2024 Tuesday 17th
Aurum Resources Reports High-Grade Gold Intercepts at Boundiali Project
Aurum Resources Limited (ASX: AUE) has announced impressive results from their second round of exploration diamond drilling at BM Target 1 on the Boundiali Gold Project in Côte d'Ivoire, West Africa.
Instant Summary:
- 11.46m @ 6.67 g/t Au from 162.54m including 1.46m @ 45.04 g/t Au (MBDD049)
- 45m @ 0.93 g/t Au from 78m including 8m @ 1.18 g/t Au from 78m & 25m @ 1.15 g/t Au from 98m (MBDD045)
- 10m @ 2.84 g/t Au from 120m including 8m @ 3.40 g/t Au (MBDD043)
- 6.31m @ 2.73 g/t Au from 164.69m including 4.31m @ 3.40 g/t Au (MBDD039)
- Gold mineralization remains open along strike and down dip at BM Target 1
- Aurum recently secured 51% project interest in the BM tenement and is working towards 80% interest
- Diamond drilling continues at both Boundiali BD and BM tenements; assay results pending
- Aurum is well-funded with ~$20M for continued aggressive exploration
Exploration Success at BM Target 1
Aurum Resources Limited has reported significant high-grade gold intercepts from their second round of exploration diamond drilling at BM Target 1 on the Boundiali BM tenement. The Boundiali Gold Project spans 1037km2 in Côte d'Ivoire, West Africa.
The latest drilling campaign included five holes totaling 914.5 meters, which returned shallow, wide high-grade gold hits. The standout results include:
- 11.46m @ 6.67 g/t Au from 162.54m including 1.46m @ 45.04 g/t Au (MBDD049)
- 45m @ 0.93 g/t Au from 78m including 8m @ 1.18 g/t Au from 78m & 25m @ 1.15 g/t Au from 98m (MBDD045)
- 10m @ 2.84 g/t Au from 120m including 8m @ 3.40 g/t Au (MBDD043)
- 6.31m @ 2.73 g/t Au from 164.69m including 4.31m @ 3.40 g/t Au (MBDD039)
Continued Exploration and Future Plans
The gold mineralization at BM Target 1 remains open along strike and down dip, indicating potential for further discoveries. Aurum has recently secured a 51% project interest in the BM tenement and aims to increase this to 80% through a US$2.5 million cumulative exploration spend commitment.
With six self-owned diamond rigs on site, Aurum has a drilling capacity of up to ~10,000 meters per month and is on target to complete 45,000 meters in 2024. The company is well-funded with approximately $20 million in cash, enabling continued aggressive exploration efforts.
Inaugural Mineral Resource Estimate
Aurum is targeting an inaugural Mineral Resource Estimate for the Boundiali Gold Project by late 2024. The ongoing drilling and faster assay results will support this goal, potentially delivering significant value for shareholders.
The high-grade gold intercepts reported by Aurum Resources are likely to positively impact the company's stock price. These results highlight the potential of the Boundiali Gold Project, which could attract investor interest and boost market confidence. The company's well-funded position and aggressive exploration plans further strengthen its prospects.
Investor Reaction:
Analysts are expected to react positively to Aurum's announcement, given the significant high-grade gold intercepts and the potential for further discoveries. The company's strategic approach and financial stability are likely to be viewed favorably by investors.
Conclusion:
Investors should keep an eye on Aurum Resources as the company continues its exploration efforts at the Boundiali Gold Project. The promising results and well-funded position make Aurum a compelling prospect for those looking to invest in the gold mining sector.