Aurum Resources (ASX: AUE) Lifts Boundiali Gold Resource to 3.84 Moz

Aurum Resources has increased the Mineral Resource at its Boundiali Gold Project in Côte d’Ivoire by 19% to 3.84 million ounces, while substantially lifting the proportion classified at the higher-confidence Indicated level.

The updated estimate comprises 125.1 million tonnes at 1.0 grams per tonne gold. Indicated Resources rose 37% to 2.33 million ounces, comprising 71.5 million tonnes at 1.0 grams per tonne, while Inferred Resources were broadly unchanged at 1.50 million ounces.

The increase in Indicated ounces is particularly relevant to the project’s development case. Aurum directed infill drilling at the BST1, BMT1 and BMT3 deposits to convert Inferred material into Indicated Resources, which can subsequently support Ore Reserve estimation. About 620,000 ounces were converted through that program.

Aurum expects the additional Indicated material to support growth in Boundiali’s Ore Reserve when it is updated as part of the Definitive Feasibility Study, targeted for late calendar 2026. That outcome remains subject to the study and reserve conversion process.

Reserve update is the next test

Boundiali’s existing Probable Ore Reserve remains unchanged at 42.1 million tonnes grading 0.9 grams per tonne for 1.21 million ounces. It was calculated using the Mineral Resource dated 30 April 2026 and has not yet incorporated the latest drilling and resource model.

The new estimate also includes a maiden Inferred Resource at BMT2 of 4.4 million tonnes at 0.9 grams per tonne for 130,000 ounces. BMT2 becomes the seventh Boundiali deposit with a defined resource.

BDT2 is now the project’s largest deposit by contained metal, with 1.02 million ounces. BST1 contains 820,000 ounces and BMT3 contains 810,000 ounces. Aurum also reported a higher-grade component across Boundiali of 2.0 million ounces at 1.7 grams per tonne using a 1.0 grams per tonne cut-off.

The Mineral Resource was independently reported by SLR and uses cut-off grades ranging from 0.42 to 0.45 grams per tonne above 300 metres, and 1.5 grams per tonne below that depth. The figures are reported on a 100% equity basis and are not adjusted for Aurum’s ownership proportions across the relevant tenements.

Development timetable remains conditional

Aurum is continuing its expanded 150,000-metre drilling program, with mineralisation remaining open along strike and at depth across the deposits. Including the 1.16-million-ounce Napié project, the company’s group Mineral Resource now stands at 5.0 million ounces.

Environmental approval for Boundiali was granted in May 2026, while the pre-feasibility study and maiden reserve were delivered in June. Aurum is targeting a final investment decision after completing the definitive study, with first gold targeted in the first half of 2028.

Mining exploitation permits remain outstanding and are material third-party contingencies to extraction. Aurum reported more than A$95 million of unaudited cash at 30 September 2026, providing funding for ongoing drilling and study work as it advances those approvals.