Aurum Resources Expands Footprint In Gold Rich Region of Côte d’Ivoire

Aurum Resources Ltd (ASX: AUE) has the very experienced Dr Caigen Wang at the helm, who founded and led Tietto Minerals Ltd (ASX: TIE) for 13 years.

Wang built Tietto into a nearly $700 million capped company and one of Africa’s newest gold producers.

Production was forecast at over 200,000 gold ounces annually at the Abujar Gold Mine in Côte D’Ivoire.

At Aurum, Wang has now embraced a new opportunity to build a gold company and bring his in-country experience to the highly prospective Boundiali Gold Project once again.

At Boundiali, diamond drilling recently delivered intercepts of 73 metres at 2.15g/t gold from 172 metres and 36 metres at 2.53g/t Au from 104 metres.

More results are pending, and the company recently purchased a third diamond rig to add to its fleet, which will increase capacity to around 4,000 metres per month.

Aurum has now signed a binding term sheet to acquire 100% of the Boundiali South Tenement (BST tenement) adjacent to Boundiali from Predictive Discovery Côte d’Ivoire.

The acquisition delivers known gold mineralisation, with previous results including:

– 20 metres at 10.45g/t gold from 38 metres;

– 30 metres at 8.30g/t gold from 39 metres; and

– 28 metres at 4.04g/t gold from 3 metres.

The purchase of the tenement is subject to several conditions including required Government approvals.

Cash of $800,000 or a share component is payable.

The share component is less than or equal to A$0.20 at the time of the election.

Aurum is well-funded and has a strong cash balance of $3.9 million at the end of February 2024, with a further $3.3 million before costs expected following shareholder approval from the recent $7.0 million capital raising.

This allows Aurum to accelerate exploration at Boundiali with the goal of defining a maiden resource before the end of CY 2024.

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