(Ecofin Agency) - Aurum Resources entered the Ivorian gold sector in December 2023. At the time, the Australian company secured a gold exploration permit in Boundali. By the end of this year, the firm, led by Caigen Wang, should have an initial resource estimate.

Aurum Resources unveiled on March 19 that it has fully acquired the Boundiali Sud gold exploration permit from Turaco Gold. Aurum Resources expands its presence in Côte d'Ivoire through the deal. Indeed, the Australian firm already operates the adjacent Boundiali gold project. 

We've executed a binding term sheet to acquire 100% interest in the Boundiali South tenement in Côte d'Ivoire, expanding our Boundiali #Gold Project.
Drilling ongoing, with a goal of delineation of defining an initial resource by the end of CY 2024.https://t.co/hItWLTUtd3 $AUE pic.twitter.com/ZMVxAyJnOv

— Aurum Resources (@AurumResources) March 18, 2024

Drilling at the Boundiali Sud project confirmed the presence of gold at shallow depths, with grades ranging from 1.29 g/t gold to 13.57 g/t gold. 

Caigen Wang, CEO of Aurum Resources, said the new acquisition improves chances of finding significant resources in the coming months and years. By the end of 2024, the Australian junior aims to have an initial mineral resource estimate for Boundiali.

Aurum entered the Ivorian gold sector in recent years, attracted by the country’s rising gold output and a favorable business climate. Ranked as the most attractive mining jurisdiction in West Africa by the Fraser Institute in 2022, Côte d'Ivoire already hosts major global gold producers such as Barrick Gold and Endeavour Mining.

Emiliano Tossou