Aurum Resources hits more high-grade gold at Boundiali ahead of expanded drilling program

Aurum Resources (ASX: AUE) continues to accumulate significant discoveries at its Boundiali gold project in Côte d’Ivoire, with drilling intersecting a further wide, high-grade zone in its ongoing BD Target 1 program.

The company is about to expand its drilling fleet to six as it ramps up its exploration work in the lead-up to releasing its maiden mineral resource estimate (MRE) for Boundiali later this year.

The company expects to drill more than 45,000 metres of diamond core at Boundiali this year as it works towards the MRE release.

Multiple intercepts

“This new result adds to the multiple 50-plus gold gram metre intervals we have hit over a 300m strike and an average depth of 200m,” managing director Dr Caigen Wang said.

“Gold mineralisation remains open and we continue to systematically step out along strike and step back to test the limits of what is an incredibly target-rich 13km by 3km gold corridor at BD, which remains under-drilled.”

“We will soon have six AUE-owned diamond drill rigs working at Boundiali as we increase our drilling rate to around 10,000m per month.”

“We are leveraging the work completed by previous explorers at Boundiali and, thanks to our supportive shareholders, we are well funded to continue our aggressive drilling program that will deliver consistent news flow.”

“We aim to deliver inaugural JORC resources for Boundiali by late 2024.”

Strong financial position

Aurum finds itself in a strong financial position to implement its plans for accelerated exploration at Boundiali.

Earlier this month, the company received firm commitments from new and existing institutional investors for a $17 million two-tranche placement.

Similar support is expected for an accompanying share purchase plan seeking to raise up to $3m.

Aurum will use these funds to continue the aggressive gold exploration drilling at Boundiali, with scout and step-back diamond drilling at the BD tenement ongoing.