ASX-listed Aurum Resources (ASX:AUE) has intersected bonanza-grade gold at its Boundiali project in Cote d’Ivoire, returning 0.72 metres at 367.05 grams per tonne gold from 485.94 metres at the BMT3 deposit. The hit sat within a wider 1.76 metre intercept at 150.87 g/t, part of assays from 36 diamond holes drilled across the BMT1, BMT2 and BMT3 deposits as part of a 130,000 metre program.
A resource already north of three million ounces
Boundiali already hosts a 3.22 million ounce resource and, following a pre-feasibility study earlier this year, a maiden 1.21 million ounce probable ore reserve. The new BMT3 results extend mineralisation beyond the current resource boundary, alongside other intercepts including 15.5 metres at 3.88 g/t. Aurum is targeting an updated resource estimate by the end of the September quarter, with a definitive feasibility study to follow as it works toward a final investment decision and first gold in the first half of 2028.
Timing with a strong gold price backdrop
The news lands as bullion trades near record territory, with spot gold above US$4,300 an ounce, a run the World Gold Council has linked to central bank buying and softer US labour data. That backdrop has helped fund a wave of drilling activity across the sector, with several ASX gold explorers releasing fresh drilling results around this year’s Diggers and Dealers conference in Kalgoorlie. Higher-grade ounces like those at BMT3 carry outsized value in this environment.
What it means for investors
Boundiali is a reminder that West African developers are attracting renewed attention as domestic WA explorers such as those extending high-grade footprints around Kalgoorlie chase similar resource growth closer to home. Aurum ended the June quarter with roughly $54.6 million in cash, giving it runway to keep drilling ahead of the resource update. The company remains pre-development, with first production not due until 2028, so near-term value will likely hinge on how much of this high-grade mineralisation converts into the upcoming resource and reserve figures.
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