Aurum Resources secures renewal for advanced Nyangboue gold deposit

Aurum Resources Limited (ASX:AUE) has successfully renewed its Boundiali South (BST) exploration licence, paving the way for accelerated exploration drilling at the high-grade Nyangboue gold deposit in Côte d'Ivoire, West Africa. The renewal, approved by Côte d'Ivoire's Ministre des Mines, Petrole et Energie, covers a substantial area of 167.36km² and is expected to facilitate the commencement of exploration drilling at the Nyangboue prospect.

Executive Commentary on Licence Renewal and Exploration Plans

Aurum's Managing Director Dr. Caigen Wang expressed satisfaction with the licence renewal, highlighting the significance of the advanced BST exploration licence, particularly in hosting the high-grade Nyangboue deposit. Dr. Wang emphasized the company's anticipation of the Ministerial sign-off for exploration drilling at Nyangboue, which is expected to unlock the potential for depth extensions of the high-grade gold shoots. He also extended gratitude to the Côte d'Ivoire government for their support in exploring and developing gold resources in the promising gold tenement. With a fleet of six rigs on site and approximately $20 million in cash reserves, Aurum is well-positioned to accelerate its aggressive exploration program and aims to achieve inaugural JORC resources by late 2024.

Renewed Licence to Drive Aggressive Exploration and Resource Estimation

The renewal of the BST exploration licence marks a significant milestone for Aurum Resources, enabling the company to advance its exploration activities at the high-grade Nyangboue gold deposit. With approvals progressing for exploration drilling at Nyangboue, Aurum anticipates commencing operations shortly after receiving the necessary permits. The company's strategic focus on accelerating drilling activities, with a target of over 45,000m for CY2024, reflects its commitment to delivering an inaugural Mineral Resource Estimate by the end of the year. Additionally, the progress on the new centralised exploration camp is expected to enhance operational efficiency and reduce costs, further supporting Aurum's aggressive exploration efforts. With a strong financial position and a clear strategic direction, Aurum remains confident in the potential of the Boundiali Gold Project and is dedicated to creating value for its shareholders.