Aurum Resources has nailed early diamond hole results at its Tchaga gold deposit in Côte d'Ivoire, signalling strong potential for resource growth at depth for its emerging asset.
The first two diamond holes at Tchaga, within its smaller 870,000-ounce Napié gold project, have extended known gold mineralisation to 340 metres below surface - nearly tripling the area’s previous known depth of mineralisation.
A standout result from one hole, includes a 17m section running 9.38 grams per tonne (g/t) gold from 236m, with a high-grade core of 3m at 49.5g/t gold. A deeper portion returned 4m at 11.82g/t from 362m, and a final section ran 1.49g/t over 17m from a depth of 387m.
Additional runs include a lower grade 36m hit at 0.77g/t gold from 105m from the second hole, which was devoid of bonanza grade gold but showed a promising mineralisation thickness close to surface.
The results build on a robust foundation of prior drilling at Tchaga by Mako Gold, which yielded intercepts such as 13m at an impressive 20.82g/t from 32m, a chunky 32m running 7.10 g/t from just 13m and a 10m hit grading 18.98g/t gold from 7m.
The company says more than 93 per cent of the current resource at Tchaga lies within 150m of surface, highlighting the extensive potential of the deposit to push towards a standalone deposit at the secondary Napié project.
The Tchaga results are part of a 30,000m diamond drilling program at Napié, driven by two of Aurum’s self-owned rigs. The campaign aims to expand the current shallow resources at Napié with a resource upgrade slated for later this year.
Aurum says further assays are pending. It expects the results for 30 kilometres of drilling to flow throughout the next two months.
Aurum Resources managing director Dr Caigen Wang said: “This great result confirms extensions to high-grade shoots at Tchaga, where mineralisation remains open along strike and at depth. Aurum's use of its own drill rigs, with our fleet of 10 rigs, provides for cost-effective and accelerated exploration, underpinning our objective of significant resource growth at Napié and Boundiali in 2025 and beyond, ultimately contributing to a pre-feasibility study for Boundiali expected by year-end.”
Napié currently has an 870,000-ounce resource from two deposits. Some 545,000 ounces of gold sits within Tchaga, grading at 1.16g/t gold. The remaining 323,000 ounces are hosted at Aurum’s 1.29g/t Gogbala deposit, 6.5km south of Napié.
Aurum scooped up Napié earlier this year after the company acquired Mako Gold’s projects about 100km east of its flagship 2.4-million-ounce Boundiali project, which is also in Côte d'Ivoire.
The company has a combined 3.28 million ounces across its projects.
Located in the same greenstone belt as major operations such as Resolute Mining’s 11.5-million-ounce Syama mine, Montage Gold’s 5.5-million-ounce Koné project and Barrick’s 5-million-ounce Tongon mine, Aurum’s Boundiali is showing promising signs of consistency and scale.
The company’s remaining eight rigs are flat-strapped at Boundiali, targeting a massive 100km of drilling for 2025. Management says a second resource upgrade is expected at the flagship project by the end of the year, tacking onto an already impressive 50 per cent upgrade to 2.4-million-ounces of resources last month.
Powered by a solid $35 million plus in cash and unaudited Montage shares, Aurum is well-funded to execute its ambitious 130,000m drilling program in 2025.
The company’s 10-rig fleet ensures efficient, cost-effective exploration, building on a proven track record in West Africa’s gold-rich terrain. The early high-grade hits at Napié, coupled with ongoing success at Boundiali, signal exciting one-two punches of bulk added ounces in one of the world’s most prospective gold regions.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Andrew Todd
