Aurum Resources has boosted its total gold resources to 4.2 million ounces across two Côte d’Ivoire projects, supported by ongoing drilling and a strategic placement led by Perseus Mining. The company’s strong cash position and board strengthening set the stage for upcoming feasibility milestones.
- Boundiali gold resource grows 26% to 3.03Moz with 49% rise in indicated ounces
- Napié resource increases 34% to 1.16Moz including maiden indicated category
- 130,000m combined drilling program underway to expand resources further
- Strategic $28.8 million placement led by Perseus Mining secures 9.9% stake
- Richard Simpson appointed Non-Executive Chairman to strengthen board expertise
Boundiali Gold Resource Surges Past 3 Million Ounces
Aurum Resources (ASX:AUE) has advanced its flagship Boundiali Gold Project in Côte d’Ivoire with a 26% increase in total Mineral Resources to 3.03 million ounces of gold. Indicated Resources surged 49% to 1.37 million ounces, underpinning the project’s growing status as a large-scale West African gold asset. This milestone comes just 26 months after Aurum first reported resources at Boundiali, highlighting rapid progress driven by an aggressive drilling campaign.
The company’s 100,000-metre drilling program is ongoing, targeting resource infill and extensions along strike and at depth. High-grade intercepts from recent drilling at the BDT3 and BST1 deposits include standout results such as 12 metres at 7.52 g/t gold from 394 metres and 9 metres at 8.15 g/t gold from 207 metres, demonstrating both depth and strike growth potential. Aurum’s metallurgical testwork continues to confirm excellent gold recovery rates of 95-99% at coarse grind sizes, supporting the economics of the project’s upcoming Pre-Feasibility Study (PFS) expected in May 2026.
This resource growth and drilling momentum are consistent with recent assay results from the nearby BDT2 deposit, which have reinforced Aurum’s strategy to expand its 4.2Moz group resource base in Côte d’Ivoire through systematic exploration and development efforts Significant thick gold intersections. The company’s ability to rapidly build resources at Boundiali is a key pillar of its growth thesis.
Napié Mineral Resource Expands 34% with Maiden Indicated Category
The Napié Gold Project, Aurum’s other major Côte d’Ivoire asset, recorded a 34% increase in total Mineral Resources to 1.16 million ounces. This includes a maiden Indicated Resource of 0.35 million ounces at 1.2 g/t gold, reflecting improved confidence in the deposit following recent drilling. The project remains significantly underexplored, with only 13% of the 30-kilometre Napié Shear systematically drilled, leaving substantial upside potential along strike and at depth.
Aurum has planned a 30,000-metre diamond drilling program at Napié for 2026 to continue resource expansion. Preliminary metallurgical testwork at the Tchaga deposit indicates strong gold recoveries of around 94.5%, bolstering the project’s economic prospects. The Napié resource update complements Aurum’s Boundiali growth, consolidating a combined group resource of 4.2 million ounces across both projects, positioning the company as a significant gold explorer in West Africa Napié Mineral Resource Estimate grows.
Strategic Placement Raises $28.8 Million with Perseus Mining Support
Backing Aurum’s ambitious exploration and development plans, the company completed a $28.8 million strategic placement at $0.60 per share, led by Perseus Mining Limited (ASX/TSX: PRU). Perseus, one of Africa’s largest gold producers with operations in Côte d’Ivoire and Ghana, acquired a 9.9% stake, marking a significant vote of confidence. The placement proceeds will fund ongoing drilling programs and feasibility studies, including the Boundiali PFS scheduled for May 2026.
Perseus’ proximity and operational experience in the region, particularly with its Sissingué and Bagoé mines near Boundiali, may offer Aurum potential synergies in infrastructure and project execution. The capital raise also included participation from professional and sophisticated investors, with the company ending the quarter with a robust cash balance of A$61.5 million.
Board Strengthened with Appointment of Richard Simpson
Aurum has bolstered its leadership with the appointment of Richard Simpson as Non-Executive Chairman. Simpson brings over 40 years of experience in mergers and acquisitions, capital markets, and corporate advisory, including senior roles at Australian investment banks and directorships at Euroz Hartleys Limited (ASX:EZL). His expertise is expected to enhance Aurum’s corporate governance and financing capabilities as it advances its Côte d’Ivoire gold projects.
Troy Flannery transitioned to a Non-Executive Director role, maintaining continuity while allowing Simpson to lead the board through this growth phase. The company also plans to seek shareholder approval for the issue of shares to Managing Director Dr Caigen Wang, aligning executive incentives with project milestones.
Development Pathway and Exploration Outlook
Aurum’s Boundiali Gold Project is on track for a Pre-Feasibility Study expected in May 2026, with a Definitive Feasibility Study anticipated later in the year. The company’s ownership of 16 diamond drill rigs; 14 currently operating in Côte d’Ivoire and two in transit; enables rapid and cost-effective exploration, a competitive advantage in the region.
The extensive drilling programs at Boundiali and Napié, totaling 130,000 metres in 2026, aim to convert inferred resources to indicated categories and expand the overall resource base. Gold mineralisation remains open along strike and at depth at multiple deposits, indicating potential for further resource growth beyond current estimates.
With a strong cash position, strategic backing from Perseus, and an experienced board, Aurum is well placed to advance its West African gold projects through critical development milestones in the coming months. The market will be watching closely for the upcoming PFS results and further drilling updates that could reshape the company’s valuation and project economics Boundiali depth extension confirmed as well as the broader resource growth narrative.
Bottom Line?
Aurum’s rapid resource growth and strategic backing position it well for key feasibility milestones, but the path to production remains dependent on ongoing drilling success and study outcomes.
Questions in the middle?
- Will Aurum’s extensive drilling convert more inferred ounces to higher-confidence indicated resources in 2026?
- How will Perseus Mining’s involvement influence Aurum’s project development and potential infrastructure sharing?
- What impact will the upcoming Boundiali Pre-Feasibility Study have on Aurum’s valuation and financing options?