Côte d'Ivoire has long been recognised as a gold-rich territory, with its Birimian greenstone belt stretching across much of the country, packed with gold-bearing rocks that have already produced some of West Africa’s most lucrative discoveries. Yet, despite its potential, much of the belt remains unexplored.
The country is home to several high-profile gold mines, including Barrick’s Tongon (5.0Moz), Perseus’ Sissingué (1Moz) and Resolute’s Syama (11.5Moz).
These gold mines are within the same geological structures as Aurum Resources Ltd (ASX:AUE)’s projects.
Location of Aurum’s Boundiali and Napié gold projects in Côte d'Ivoire.
Aurum’s proximity to major mines gives the company a clear advantage as it continues to explore its 100%-owned Boundiali and Napié projects, where gold mineralisation remains open at both deposits.
Boundiali and Napié already hold a combined gold resource of 2.5 million ounces (Moz) and the company is driving forward with ambitious plans to expand its Birimian footprint.
Aurum’s strategy focuses on aggressive exploration and rapidly expanding its resource base, with clear plans to develop its projects efficiently and capitalise on the significant growth potential in the region’s gold sector.
Backed by an accelerated drilling program and strategic funding, the company is driving rapid resource growth while advancing its projects through key development milestones, including further exploration and feasibility studies, to pave the way towards production.
Boundiali Gold Project: A promising gold corridor with strong potential
Aurum’s strategy is built on rapidly expanding its resources. To achieve this, the company has adopted a hands-on, cost-efficient approach to exploration, including owning and operating its own fleet of diamond drill rigs. This approach reduces exploration costs by up to 65% and allows the company to accelerate drilling and resource development while maintaining lower capital expenditure.
Drilling exploration dollars further
At the core of Aurum’s exploration efforts lies the Boundiali Gold Project — a 1.6Moz resource situated within a gold corridor that has already produced millions of ounces of gold from nearby operations. Boundiali's location places it in good company, nestled within the same greenstone belt as Barrick’s Tongon mine and Montage Gold’s 4.5Moz Koné project.
Since commencing drilling at Boundiali in late 2023, Aurum has generated impressive results from its BST (Boundiali South) and BDT deposits, with some high-grade intersections including:
- 83 metres @ 4.87 g/t gold (Au) from 106 metres, including 6.29 metres @ 34.94 g/t Au and 8 metres @ 14.81g/t Au (DSDD0148);
- 12 metres @ 22.02 g/t Au from 145 metres, including 7 metres @ 27.50 g/t Au (DSDD0136);
- 73 metres @ 2.15 g/t Au from 172 metres, including 4 metres @ 18.63 g/t Au (DSDD0012); and
- 59 metres @ 1.42 g/t Au from 68 metres, including 13 metres @ 3.92 g/t Au (DSDD0010).
The resource continues to expand, with Aurum planning to update its resource estimate twice in 2025, the first update expected in mid-year. In total, the company plans to drill 100,000 metres at Boundiali this year, aiming to both grow the resource and advance the project toward feasibility studies.
One of the key features of Boundiali’s development is its metallurgy. The ore is free-milling, meaning it can be processed simply and efficiently with recovery rates as high as 95%. This enables Aurum to reduce its processing costs while ensuring high margins once the project is in production.
Napié: Exploration continues to deliver
Less than 400 kilometres east of Boundiali lies the Napié Gold Project, where Aurum has already established a JORC-compliant resource of 0.87Moz at an average grade of 1.20 g/t Au. Like Boundiali, Napié’s mineralisation remains open along strike and at depth, giving the company substantial room to grow its resource base.
Aurum has committed to an aggressive drilling campaign at Napié in 2025, with 30,000 metres of drilling planned to expand the resource further. Early test work at Napié has been promising, with gold recoveries averaging more than 94%, reinforcing the project’s potential for high recovery rates.
As with Boundiali, the infrastructure surrounding Napié is ideal, with access to hydroelectric power, roads and water, which will help keep future development costs low.
While Napié currently represents a smaller portion of Aurum’s overall resource base, it holds significant potential — and with only 13% of the Napié Shear explored so far, there is ample room for expansion. As drilling progresses, the company is set to release an updated resource estimate for Napié by the end of 2025.
Strategic funding boosts growth trajectory
To accelerate its exploration and development activities, Aurum has secured a major funding boost through a A$35.6 million private placement, which closed in mid-July. This funding will provide the company with the necessary capital to fast-track drilling activities and advance feasibility studies for both Boundiali and Napié.
The placement was backed by respected institutional investors, including the Lundin Family and Montage Gold, who now hold significant stakes in the company, further strengthening Aurum’s financial position and growth prospects.
As of March 31, 2025, Aurum’s cash balance stood at about A$12.4 million, with a market capitalization of A$113.7 million and an enterprise value of A$101 million. The placement further bolsters the company's financial resources, ensuring it can execute its ambitious drilling and development programs. The additional capital will also enable the company to expand its fleet of diamond drill rigs, accelerating resource growth and advancing its projects.
With a fully funded exploration program and strong institutional backing, Aurum is well-positioned to drive both Boundiali and Napié toward feasibility studies — critical steps in advancing the projects to production.
Côte d'Ivoire: A growing hub for gold production
Côte d'Ivoire’s gold sector is on the rise, solidifying the country’s position as one of West Africa’s largest producers of gold. The Birimian Greenstone belt, which accounts for a large portion of Côte d'Ivoire’s gold resources, continues to yield world-class discoveries.
The government’s pro-business mining code and infrastructure investments, including an extensive road network and a reliable power grid, create a favourable environment for exploration companies like Aurum.
Aurum’s projects benefit not only from the geological advantages of Côte d'Ivoire’s gold belt but also from the country’s stable political environment and supportive regulatory framework. The country is home to numerous large-scale gold operations, and its efficient permitting processes and low capital intensity make it an attractive jurisdiction for mine development — advantages that support Aurum’s growth prospects in Côte d'Ivoire’s growing gold sector.
Aurum’s path forward: Rapid growth and resource expansion
With aggressive drilling campaigns, strategic funding and a clear roadmap to expand its resource base, Aurum is looking to transform its gold projects into significant assets in West Africa’s gold sector.
The combination of low-cost exploration, high-grade drilling results and strong institutional backing gives Aurum a competitive edge as it works toward becoming a major gold player in Côte d'Ivoire.