ASX-listed Aurum Resources has completed 100% acquisition of the Boundiali South Tenement (BST) from Turaco Gold after a protocol agreement for operating in classified forest was approved by Côte d’Ivoire’s Ministry of Forest and Water, and Ministry of Mines, Petroleum and Energy.
Highlights
- Aurum and Turaco setle a Binding Term Sheet for Sale and Purchase of BST by issuing 3,492,535 Aurum shares valued at A$1.2 million ($0.343/share) using a 20-day VWAP prior to 1 April 2025.
- A protocol agreement for exploration operations in classified forest has been approved by Côte d’Ivoire’s Ministry of Forest and Water and Ministry of Mines, Petroleum and Energy.
- Aurum submitted a mining exploitation licence application over the entire BST with Côte d’Ivoire’s Ministry of Mines, Petroleum and Energy.
- Aurum is planning to commence diamond drilling this month at BST.
- BST hosts a JORC resource of 360,000oz gold as part of Boundiali’s 1.59Moz MRE
Aurum’s Managing Director Dr. Caigen Wang said: “Aurum is pleased to announce the achievement of two milestones at its Boundiali South (BST) tenement, part of the larger 1.6 moz Boundiali Gold Project, thanks to the strong support of the Côte d’Ivoire Government. The company extends its sincere thanks for the efficient approval of the protocol agreement, which allows the immediate recommencement of exploration activities within the designated classified forest area at Boundiali South. This agreement is a critical step, allowing Aurum to go ahead with diamond drilling on this highly prospective tenement to expand the existing gold resource and advance overall project development plans. Further showing the project's progress, Aurum confirms that the Ministry of Mines, Petroleum and Energy, Côte d’Ivoire, has accepted its application for a mining exploitation licence covering the entirety of the BST tenement. With this key application accepted, the Company is now positioned to accelerate both its exploration drill-out programs and vital development activities, such as environmental studies, aimed at confirming the potential for the gold resources at BST to support a future open-pit mining operation.”
