New Mineralised Zone
Aurum Mining PLC
07 December 2006
For Immediate Release 7 December 2006
AURUM MINING PLC
('Aurum' or 'the Company')
New mineralised zone discovered at Andash: possible faulted extension to Zone 1
Aurum Mining plc (AIM: AUR), the company formed to acquire gold and other
mineral extraction projects in the Former Soviet Union (FSU), is delighted to
announce details of the discovery of a new exploration zone within the Andash
licence area. The new zone, called Nakhodka, shares the geological and
mineralogical features of Andash Zone 1, where 1.5 million ozs of gold and gold
equivalent have already been identified. The company is presently finalising the
bankable feasibility study for zone 1 and expects to deliver this shortly.
During a recent geological mapping campaign in the northern region of the Andash
licence area, a body of eruptive diorite breccia was delineated for a distance
of approximately 3.5km, with a visible width of approximately 1.5km. Within this
breccia, a new mineralised zone was identified, with a strike length of
approximately 1000m.
The zone is represented by strongly altered breccia with intensive sulphide
mineralisation (pyrite/chalcopyrite) and visible gold. Structurally it is a flat
North-dipping thrust zone with distinct geological and mineralogical features
similar to Zone 1. It is believed that the mineralisation represents the upper
part of the Zone 1 orebody, faulted by a flat thrust moving it North around 2km.
This new area and Zone 1 are structurally similar and have the same host rocks
and similar chemical elements both in type and grade.
Initially, 14 grab and chip samples were taken from the surface. Nine samples
returned elevated gold and copper values up to 124 g/t of gold and 1.05% copper.
Sample Location Type of sampling Length, m Grade
X Y Au, g/t Cu, %
A-06-801 33814 11572 grab 0.39 0.39
A-06-802 33782 11510 grab 31.6 0.84
A-06-807 33522 11432 chip 2.0 <0.05 0.001
A-06-808 33610 11436 grab 9.83 0.56
A-06-809 33604 11461 grab 0.52 0.02
A-06-810 33780 11534 grab 30.5 1.0
A-06-811 33941 11570 chip 1.0 <0.05 0.004
A-06-818 33680 11532 grab 124.0 0.24
A-06-819 33776 11550 grab 0.38 0.32
A-06-830 33136 11658 chip 1.5 <0.05 0.33
A-06-831 33156 11660 grab <0.05 0.004
A-06-832 33186 11646 grab 0.95 1.05
A-06-833 33318 11323 grab <0.05 0.002
A-06-840 33934 11612 chip 0.5 <0.05 0.001
Attempts to get to bedrock by trenching were partially successful due to very
thick overburden, at times more than 4m thick. Of five trenches, only two
trenches successfully hit bed rock, with a total length of 122.6m. The trenching
results below showed strong mineralisation running 9.9m at 7.89g/t gold, and 9m
at 5.04 g/t of gold.
## ## sample Interval of Length, m Grade
sampling, m Au, g/t Cu, % Ag, g/t
Trench #17-06
A-06-971 10.1-12.8 2.7 8.36 0.365 6.4
A-06-974 12.8-14.0 1.2 14.4 0.333 14.4
A-06-975 14.0-15.0 1.0 11.4 0.65 12.6
A-06-976 15.0-16.0 1.0 10.1 0.51 10.1
A-06-977 16.0-17.1 1.1 8.81 0.77 6.8
A-06-978 17.1-18.0 0.9 6.98 0.263 5.0
A-06-979 18.0-20.0 2.0 2.09 0.095 2.2
A-06-980 20.0-22.0 2.0 0.272 0.024 <1.0
A-06-981 22.0-24.0 2.0 0.063 0.003 <1.0
A-06-982 24.0-26.0 2.0 <0.050 0.002 <1.0
A-06-983 26.0-28.0 2.0 <0.050 0.001 <1.0
A-06-984 28.0-29.6 1.6 <0.050 0.002 <1.0
Total: 10.1-20.0 9.9 7.89 0.37 7.18
Trench #21-06
A-06-1021 0.0-1.0 1.0 2.04 0.261 2.0
A-06-1022 1.0-2.0 1.0 27.9 0.77 33.2
A-06-1023 2.0-3.0 1.0 0.231 0.055 2.0
A-06-1024 3.0-6.0 3.0 0.238 0.053 <1.0
A-06-1025 6.0-7.3 1.3 0.066 0.014 <1.0
A-06-1026 7.3-8.3 1.0 1.11 0.192 1.8
A-06-1027 8.3-9.0 0.7 19.0 0.418 8.5
A-06-1028 9.0-10.0 1.0 <0.050 0.004 <1.0
A-06-1029 10.0-12.0 2.0 <0.050 0.004 <1.0
A-06-1030 12.0-14.2 2.2 <0.050 0.001 <1.0
Total: 0.0-9.0 9.0 5.04 0.19 5.47
Commenting on the new find, Mark Jones, Aurum's Chief Executive, said: 'As a new
exploration zone, Nakhodka provides us with yet another great opportunity to
expand our resource base at Andash. We will begin a drilling programme in the
new season next year with a view to getting a clearer estimation of this
resource, which, in common with our Tokhtonysay exploration area, has the
attraction of proximity to the proposed Andash Zone 1 mine.
'With this new zone, our Tokhtonysay prospect and our other five zones, we have
an impressive number and size of targets within the Andash licence area. These
will augment our most advanced project, Andash Zone 1 which recently received a
Mining Licence. Andash Zone 1 contains gold and gold equivalent of more than
1.5m ozs. We look forward to initial production in 2008, when positive cashflows
will assist us to exploit the potential of the new opportunities at Andash.'
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 / Rebecca Skye Dietrich
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. Mining
consultant Wardell Armstrong International has confirmed a JORC resource
estimate of 1.49 million ozs of gold and gold equivalent in Andash Zone 1 in
Measured and Indicated categories. A Mining Licence for the Andash area was
awarded by the Kyrgyz authorities in November 2006. The feasibility study for
Zone 1 is scheduled for completion by the end of this year, allowing production
to begin in 2008. The Andash project also includes the Zone 2 and Zone 3 along
with Tokhtonysay, Nakhodka and three other additional exploration areas.
This information is provided by RNS
The company news service from the London Stock Exchange