Aurum Resources has launched a 30,000-metre diamond drilling campaign at its 0.87-million-ounce Napié project, centred about 110 kilometres southeast of the company’s flagship Boundiali project in Côte d'Ivoire.
The two-rig program aims to expand the current Napié resource, drill other thinly tested targets and deliver an updated mineral resource estimate for the project by the end of the year.
Management says it plans to add two more rigs to the program, which it hopes to complete by the end of the year.
Previous drilling intercepts at Napié offer plenty of encouragement for success, delivering long runs and high grades at shallow depths. These include 13 metres at 20.82 grams per tonne (g/t) gold from 32m, 32m assaying 7.10g/t gold from 13m, and 9m going 22.73g/t gold from 36m.
Two other intercepts gave up 10m running 18.98g/t gold from 7m and 41m assaying 4.51g/t gold from 17m.
Company research reveals that only 4.4km or 13 per cent of the 30km-long Napié shear has been systematically drilled to define gold resources.
Remarkably, 93 per cent of the current 0.87-million-ounce Napié gold resource lurks within 150m from surface. This leaves Aurum with vast potential to explore along the more than 25km of largely untested remaining strike, coupled with further possible treasures at depths below the limits of previous drilling.
The existing mineral resource consists of the combined 545,000-ounce Tchaga resource in the central area of the prospective ground within the company’s 30km-long tenement and the 323,000-ounce Gogbala resource, about 6.5km south of Tchaga.
Other previous results from within the prospective ground, from north to south, come from limited drilling at Komboro, 4km south of the northern tenement boundary, which delivered 9m assaying 3.26g/t gold and 1m at just under one ounce per tonne gold on the margins of an artisanal open pit.
At Tchaga North, 5.5km north of the Tchaga resource, limited drilling has come up with 8m at 8.53g/t gold, 1m at a stunning 215g/t gold, 4m at 101.31g/t and 7m going 5.39g/t gold.
At Gogbala South, about 3.5km north of the tenement’s southern boundary, 400m-spaced drill fences have come up with hits of 6m assaying 6g/t gold and 9m at 1.39g/t gold.
Aurum is also planning an assault on encouraging but untested prospects, including artisanal workings, which gave up rock chip results of 170g/t gold and 6.27g/t gold, and at Tchaga North where limited drilling produced the big hits of 1m at 215g/t and 4m at 101.31g/t gold.
The program will also include other areas where rock chip samples returned 79.50g/t gold, 76.10g/t, 60.66g/t, 44.73g/t and 24.34g/t gold.
Aurum Resources managing director Dr Caigen Wang said: “We are working on a multi-pronged approach, drilling to grow the 0.87-million-ounce Napié MRE and drilling to define new gold resources from the portfolio of encouraging prospects that have never been followed up. The new data will be used to update the Napié gold resource later this year. Our programs are designed to deliver growth in the combined 2.5-million-ounce gold resource base across Boundiali and Napié.”
Aurum acquired the Napié project in Côte d'Ivoire through the acquisition of Mako Gold. The deal was finalised in February after Aurum inked a bid implementation agreement with Mako to acquire all of Mako’s issued shares and options.
The Napié project is on the same greenstone belt as Mako Gold's flagship Abujar asset.
Wang said Aurum saw strong similarities between Napié and the Abujar project and that management hoped it could replicate Tietto’s previous success with Abujar at its new Napié project.
When the Aurum executive team was running Tietto Minerals, it quickly expanded Abujar’s resources to 3.8 million ounces of gold and shunted the project into production.
The project was acquired in May last year by Zhaojin Mining for more than $768 million, through its subsidiary Zhaojin Capital (Hong Kong) Limited.
At Aurum’s Boundiali project, the company is continuing to put the remainder of it planned 100,000m of drilling into the ground this year, using eight of its 10 company-owned diamond rigs.
The company is well on the way towards delivering two mineral resource estimates before the end of the year, which will significantly extend the existing combined 1.59 million ounces of gold in its BST, BD, and BM project areas.
Each of the areas also contain multiple targets where further scout and exploration drilling will continue.
The company is also ploughing through its environmental and social impact study and site selections for a gold processing plant and tailings storage facility.
Aurum is working towards completion of an open pit pre-feasibility evaluation for Boundiali before the end of the year, which will anchor the project’s preliminary economics and technical feasibility.
The company remains well-funded for its various programs, courtesy of its $35.6 million private placement in May.
Its continued exploration seems assured of success, given Aurum’s vast tracts of ground at Boundiali that keep delivering an unrelenting flood of long intercepts and big gold hits.
And the new Napié project looks like becoming a strong second arrow in Aurum’s quiver, with its 30km strike of prospective ground, evidenced by artisanal mining, a host of solid gold grades in sampling and drilling, long intercepts and structural and mineralisation continuity.
Aurum could be well worth watching as the first Napié core emerges from the ground.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Doug Bright
