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.
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