Business
New Gold & Copper Opportunity
New Gold & Copper Opportunity.
About this update from Shearwater Group Plc
[{"type":"text","content":"\n Aurum Mining PLC\n16 November 2006\n\n\nFor immediate release 16 November 2006\n\n\n\n AURUM MINING PLC\n ('Aurum' or 'the Company')\n\n Extensive new Gold and Copper opportunity discovered\n within the Andash exploration area\n\n\n\nAurum Mining plc, the company formed to acquire gold and other mineral\nextraction projects in the Former Soviet Union, is pleased to announce an update\non the exploration programme at its Andash gold and copper project in the Kyrgyz\nRepublic.\n\n\n\nDuring the summer a comprehensive programme of geophysical exploration,\nincluding dipole-dipole IP and a magnetic survey, was undertaken at the\nCompany's Tokhtonysay exploration target, which lies within the Andash\nexploration licence area. This programme was initiated as a result of\nexploration work completed last year where trenching across an outcrop\nintersected 33m of mineralisation at 1.4g/t gold and 1.6% copper.\n\n\n\nTokhtonysay, originally discovered during the Soviet era, contains seven\noutcropping mineralised zones. Four of them (T1 - T4), on the western limb, are\nsituated within the Andash exploration licence area while the other three, on\nthe eastern limb, are within the adjacent Korgontash licence area, which is held\nby Lero Gold Corporation (TSX: LER.V), a subsidiary of Oriel Resources plc (AIM:\nORI) and the subject of an encouraging announcement by Lero Gold on October 12\nthis year.\n\n\n\nResults from the geophysical survey have determined the presence of a previously\nunknown IP anomaly with dimensions of 600m x 300m. Its characteristics are\ntypical for porphyry systems and are similar, though extending over a larger\narea, to Andash Zone 1, which has a JORC Measured and Indicated resource of more\nthan 17m tonnes, containing 624,000 ozs of gold and 72,000 tonnes of copper.\n\n\n\nFurthermore, the central part of this body is characterised by a very strong\nmagnetic anomaly exceeding 1500 nTl. Taking into account that Zone 1 contains\nsignificant amounts of magnetite in the orebody, this is a further indicator\nthat Tokhtonysay may have similar mineralisation to current resources in Andash\nZone 1.\n\n\n\n1200m of trenching was completed to investigate the extent and grade of surface\nmineralisation, along with 524m of bulldozer cuts and ten 5m deep pits. The work\nwas confined to area T2, the largest of the four miner...