Aurum Resources announced the renewal of its Boundiali South exploration licence, encompassing the high-grade Nyangboue gold deposit in Côte d'Ivoire, West Africa.
The BST tenement, part of Aurum's comprehensive Boundiali Gold Project, has shown positive results, including 20m at 10.45g/t gold from 38m.
The renewal by Côte d'Ivoire's Ministre des Mines, Petrole et Energie enables Aurum to continue its aggressive exploration plans, supported by a well-funded budget of approximately $20 million.
Aurum's Managing Director, Caigen Wang, expressed his satisfaction, stating, "We are pleased to announce that the renewal of the advanced BST exploration licence has been approved by Côte d’Ivoire’s Ministre des Mines, Petrole et Energie. With six rigs on site, we'll be drilling ~10,000m per month."
The company is awaiting final ministerial approval for exploration drilling at the Nyangboue deposit, partially situated within a classified forest.
Upon approval, Aurum expects to commence drilling shortly, with an increased goal of drilling over 45,000m this year.
Aurum's new centralised exploration camp is projected to be operational by late October, enhancing efficiency and reducing costs as the company aims for an initial Mineral Resource Estimate for Boundiali by year-end.
The camp will support up to 70 personnel, ensuring seamless operations and logistical coordination.
Aurum Resources is a mineral exploration and development company. The company holds gold and base metal-focused projects from early-stage reconnaissance to mature area exploration projects located in Western Australia.
At the time of reporting, Aurum Resources' share price was $0.33.