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Highlights
- - Aurum Resources (AUE) progresses towards acquiring Mako Gold (MKG).
- - Maiden Boundiali Gold Project resource of 1.6 million ounces established.
- - Ongoing drilling targets resource growth and pre-feasibility study by year-end.
Aurum Resources (ASX:AUE) is making significant strides in its acquisition of Mako Gold (ASX:MKG), having secured 85.79% ownership of the company. The acquisition bolsters Aurum’s position within Côte d'Ivoire's highly prospective Birimian greenstone belts, where both companies operate.
Aurum has extended the deadline for Mako shareholders to accept the acquisition offer until January 31, 2025, which is unconditional and free from defeating conditions.
Maiden Resource at Boundiali Gold Project
The Boundiali Gold Project has delivered a maiden mineral resource estimate of 1.6 million ounces of gold, marking a major milestone for Aurum. Located within the Birimian greenstone belt, this project is strategically positioned near other significant gold operations, including Resolute’s Syama mine, Perseus’ Sissingue mine, and Barrick’s Tongon mine. The region also includes Mako Gold’s flagship Napié Gold Project and Korhogo exploration project.
Drilling at Boundiali is ongoing, with gold mineralisation remaining open along strike and at depth. Aurum plans an extensive 100,000-metre drilling program in 2025 using six self-owned rigs to drive resource growth and test additional prospects.
Resource Growth and Pre-Feasibility Goals
Aurum’s managing director, Dr. Caigen Wang, highlighted the rapid progress achieved since the permits were acquired in 2023. The 63,927 metres of diamond drilling completed within a year laid the foundation for defining a significant resource of 50.9 million tonnes at 1.0 g/t gold. The upcoming year is expected to bring further resource expansion as exploration continues.
Preliminary metallurgical testing shows promising gold recoveries exceeding 95%, supporting potential processing through conventional gravity and CIL methods. Aurum aims to establish a hub-and-spoke operation at Boundiali, integrating multiple deposits into a central processing facility.
Strong Infrastructure and Funding
The Boundiali project benefits from excellent infrastructure, including tarred roads and 225kV power lines. While upgrades to local roads are planned to support mining activities, the current network is adequate for exploration needs. With approximately $23 million in cash reserves, Aurum is well-funded to continue its aggressive exploration strategy.
As the company pushes forward, the Boundiali project is positioned to become a significant contributor to West Africa's gold industry. Further drilling and a pre-feasibility study, expected by the end of 2025, will shape the project’s future development.
