Aurum Resources Ltd (ASX:AUE) has increased the JORC Mineral Resource Estimate (MRE) for its Boundiali Gold Project in Côte d'Ivoire by 50%, now standing at 2.41 million ounces (Moz) of gold (Au). This 820,000-ounce boost brings the company’s total group resources, including the Napié Project, to 3.28Moz.
With further drilling and a pre-feasibility study (PFS) under way, Aurum is advancing Boundiali towards a key development phase. The updated resource estimate includes deposits across six areas — BST1, BDT1, BDT2, BDT3, BMT1, and BMT3 — with continued drilling aimed at further resource expansion.
Notably, the updated MRE reflects a 362% increase in the Indicated Resource component, which rose to 600,000 ounces from 130,000 ounces in December 2024. The new estimate also highlights high-grade Inferred resources, including 400,000 ounces at 2.0 g/t Au in BMT3 and 220,000 ounces at 1.7 g/t Au in BMT1.
This significant growth underscores the project's potential, with exploration continuing to extend mineralisation along strike and at depth, supported by additional drilling scheduled for the second half of 2025.
Resource estimate breakdown and exploration potential
The Boundiali project now boasts total resources of 2.41Moz at an average grade of 1.0 g/t Au, with the Indicated resources comprising 600,000 ounces from 18.5 million tonnes (Mt) at 1.0 g/t Au. The Inferred component is significantly larger, totalling 1.81Moz from 54.2Mt at 1.0 g/t Au.
Boundiali Gold Project Mineral Resource Timeline (Global and Indicated ounces annotated).
Aurum's ongoing drilling program has already identified several high-grade zones within the Inferred portion, reinforcing the potential for further upgrades.
The company is also actively progressing with a 100,000-metre drilling campaign for 2025. It plans to release a second MRE update later in the year, which could further expand the Boundiali resource.
The results from the current drilling program continue to demonstrate the project's upside potential, particularly with mineralisation remaining open along strike and at depth.
Strategic development and financial strength
In addition to the positive resource update, Aurum has launched a PFS for Boundiali, slated for completion by the end of 2025. This study will assess the project's technical and economic viability, with the aim of advancing towards development.
With $46.9 million in cash and the value of its Montage shares, the company is well-funded for continued exploration and the advancement of Boundiali towards a potential mine development.
“This substantial growth is a direct result of our focused and aggressive drilling campaign and highlights the immense potential of the project,” Aurum managing director Dr. Caigen Wang said. “We are particularly encouraged by the higher-grade Inferred component within the BDT3, BMT1 and BMT3 deposits, which collectively offer the potential for around 720,000 ounces at 1.9 g/t AU and further underscore the quality of this resource.”
Project overview and infrastructure
The Boundiali Gold Project is located in northern Côte d'Ivoire, a region with established mining activity and a supportive infrastructure network. The project is easily accessible via well-maintained roads, and is close to Korhogo, the region's largest city. The area benefits from year-round accessibility, making it an ideal location for large-scale exploration and future development.
Location of Aurum’s Boundiali Gold Project in Côte d'Ivoire.
Aurum's exploration team has been focused on drilling within the key deposits of Boundiali, with more than 114,000 metres of drilling completed since the company took over management in late 2023. The project is situated in a geologically favourable area, with the nearby Syama, Sissingué, and Koné gold mines, as well as Barrick’s Tongon mine, underscoring the region’s mining potential.
The updated MRE, combined with the ongoing drilling and the forthcoming PFS, marks a pivotal point in Aurum’s journey towards building a significant gold resource in West Africa.