Aurum Mining PLC
07 March 2006
For immediate release 7 March 2006
AURUM MINING PLC
('Aurum' or 'the Company')
Independent analysis confirms quality of Andash orebody
Aurum Mining plc (AIM: AUR), the company formed to acquire gold and other
mineral extraction projects in the Former Soviet Union (FSU), is pleased to
announce further details of analysis work being carried out by the leading UK
independent mining consultant Wardell Armstrong International (WAI) on samples
taken from the Company's Andash project in the Kyrgyz Republic.
At the time of the Company's full year results, released on 29 September 2005,
it was highlighted that WAI had confirmed a JORC resources estimate for one of
the Andash orebodies of 1.15 million ozs of gold and gold equivalent. At the
time it was also highlighted that further drilling work would be carried out to
enhance the resources estimate and to facilitate the completion of a Feasibility
Study for the project.
As part of this work WAI was last year sent a 2100 kg bulk sample from Holes
TX-1 to TX-4, where a programme of scoping tests was undertaken on Hole TX-3 to
confirm the initial testwork findings. Results show that the head grades of the
samples tested was consistent with the initial sample at 0.51% Cu and 1.3 g/t
Au.
The scoping test work programme demonstrated improved recoveries of copper and
gold. The Sulphide Composite demonstrated that gold recovery to a combined
gravity and flotation concentrate was predicted to be 70% during continuous
processing, and copper recoveries of up to 80% were achievable to a saleable
flotation concentrate after one stage of cleaning. A further 25% of gold can be
recovered by cyaniding the flotation tailings, giving a total gold recovery of
95%.
Work is continuing to refine the process to improve economics through increasing
flotation recoveries and reducing reagent consumption with a view to
establishing a flow sheet to meet the requirements of the Feasibility Study.
Mark Jones, Chief Executive of Aurum Mining, commented: 'I am delighted by these
latest study results, which highlight the quality of the resource at Andash. We
now have confidence that the metallurgy at Andash will allow us to extract gold
and copper economically. Our next step is to put together an extraction process
flow sheet that will form the basis of our future plant design. This, along with
other work currently ongoing under the guidance of WAI, will form the basis of
the Feasibility Study for our mining licence application to the Kyrgyz
authorities.'
For further information:
Aurum Mining plc Tel: 020 7478 9050
Mark Jones, Chief Executive
Arbuthnot Securities Tel: 020 7012 2000
Graham Swindells
Buchanan Communications Tel: 020 7466 5000
Mark Court
Notes to editors
Aurum Mining joined the AIM market of the London Stock Exchange in May 2004 with
the strategy of seeking, evaluating and acquiring gold and other mineral
extraction projects in the Former Soviet Union (FSU). In January 2005 the
Company completed its first acquisition, giving the Company an exploration
licence over the Andash gold and copper project in the Kyrgyz Republic. In its
State Register, the State Commission of Resources of the Kyrgyz Republic has
included 21.7 million tonnes of C1 and C2 reserves from the project, amounting
to gold and gold equivalent of more than 1.5 million ozs.
This information is provided by RNS
The company news service from the London Stock Exchange