Bonanza gold hits keep rolling for Aurum in West Africa

Aurum Resources managing director Dr Caigen Wang said: “We expect these holes to contribute to the BST1 Indicated Resource (currently 6.9Mt @ 0.9 g/t Au for 190koz) in the next MRE update for Boundiali, expected early in the December quarter.”

A prefeasibility study delivered in June for Boundiali outlined a maiden probable ore reserve of 42.1 million tonnes at 0.9 g/t gold for 1.21 million ounces. The project also received its environmental approvals in May, clearing a significant hurdle on its path to development.

A key part of Aurum’s strategy centres upon its ownership of 16 diamond drill rigs, which the company says allows it to explore faster and more cost-effectively than its peers.

With a hefty bank balance, its own fleet of drill rigs probing virtually any rock likely to contain gold - which it invariably does - and a deluge of results like the ones that have just landed, Aurum seems to be on fire. The company now appears to be locked into a clear trajectory towards a critical resource update followed by a definitive feasibility study later this year, which could set the stage for a final development decision at its burgeoning West African gold play.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au