Aurum Resources (ASX:AUE) announced a maiden JORC-compliant resource estimate of 1.59 million ounces of gold for its Boundiali gold project in Côte d’Ivoire, West Africa, on Monday (December 30).
Managing Director Dr. Caigen Wang said the resource estimate follows the completion a 63,927 metre diamond drilling program at Boundiali. The company acquired permits and set up joint venture partnerships 12 months ago.
“This aggressive exploration campaign has rapidly defined a significant gold resource of 50.9 million tonnes at 1.0 grams per tonne for 1.6 million ounces,” he added in the company’s press release.
According to Aurum, the resource estimate comprises deposits where drilling is ongoing: BST, BDT1, BDT2, BMT1 and BMT3. The company has also identified other prospects that are yet to be drilled.
Boundiali spans 1,037 square kilometres and its tenements are located directly east of the town of Boundiali.
On December 23, Aurum said preliminary metallurgical test work had confirmed overall gold recoveries exceeding 95 percent. The test work was completed on diamond core samples from two prospects on the Boundiali BD tenement.
“The results show that we can achieve high gold recoveries exceeding 95 percent, with a significant portion of the gold recoverable through the cheapest method — gravity separation,” Wang said regarding the test work.
According to the company, Boundiali is currently progressing as a potential hub-and-spoke operation, meaning that Aurum will continue to explore deposits and test new targets within the project area.
In 2025, Wang said Aurum is looking to launch a 100,000 metre drill program geared at resource expansion. Beyond that, it is targeting to release a prefeasibility study for Boundiali toward the end of this year.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: AurumResources is a client of the Investing News Network. This article is not paid-for content.
Credit: Source link
