Business
Andash Resource Update
Andash Resource Update.
About this update from Shearwater Group Plc
[{"type":"text","content":"\n Aurum Mining PLC\n05 September 2006\n\n\nFor immediate release 5 September 2006\n\n\n\n AURUM MINING PLC\n\n ('Aurum' or 'the Company')\n\n\n\n Andash resource exceeds expectations: JORC estimate upgraded to Measured and\n Indicated with improved metal grades\n\n\n\n\n\nAurum Mining plc (AIM: AUR), the company formed to acquire gold and other\nmineral extraction projects in the Former Soviet Union (FSU), is pleased to\nannounce an updated resource estimate for its Andash gold and copper project in\nthe Kyrgyz Republic. This latest estimate, following the completion of the\nin-fill drilling programme, uses JORC standards and was compiled by the\nindependent consultant Wardell Armstrong International (WAI). The estimate\ntransfers almost the entire resource into Measured and Indicated categories, and\nprovides the resource classification required for the detailed feasibility study\ncurrently under completion.\n\n\n\nThe latest estimate gives a Measured and Indicated resource of 17.1 million\ntonnes, leaving only a further 200,000 tonnes in the Inferred category. Total\nmetal content has increased, giving improved grades when calculating the\nresource using a cut-off of 1.25g/t of gold and gold equivalent. The resource\nnow has 624,000 oz of gold (19.42t) and 72,000 tonnes of copper.\n\n\n\nThe JORC Resource:\n\n\n Andash Resources @ 1.25g/t Aueq Cut-Off (September 2006)\nCategory Type Tonnage (kt) Au (g/t) Cu (%) Au (kg) Cu (kt)\nMeasured Oxide 835 0.89 0.51 741 4.2\nMeasured Sulphide 2,980 1.21 0.47 3,599 14.1\n Total Measured 3,815 1.14 0.48 4,340 18.3\nIndicated Oxide 855 0.85 0.42 726 3.6\nIndicated Sulphide 12,400 1.16 0.40 14,353 50.0\n Total Indicated 13,255 1.14 0.40 15,080 53.6\n Total Measured + Indicated 17,070 1.14 0.42 19,420 71.9\nInferred Sulphide 200 0.95 0.27 190 0.5\n\n\n\n\n\nThis resource estimate is based on original Soviet drilling and sample data and\non the results of Aurum's recent in-fill drilling programme, the latter\nrepresenting around 42 per cent of the data used in the calculations. WAI is\nawaiting the results of some further check assays of the copper content of the\nAndash resource, though the homogenous nature of the Andash orebody suggests\nthat it is unlikely to differ significantly from the above estimates.\n\n\n\nThis latest resource estimate will form a central part of the detailed\nfeas...