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Aurum Mining

  • BY: Andrew Hore |
  • POSTED: 14/02/2012 |

Aurum Mining says drilling at El Facho on the structure of its Zamora gold project.

In March 2011, Aurum entered into a joint venture with AIM-quoted Ormonde Mining over four of its permit areas in Spain. Aurum has to spend €500,000 over 18 months in return for 60% in the Zamora Province and a 54% interest in the Salamanca province permit areas. It will have spent €450,000 at the end of March.

One of the most recent holes drilled includes an interval of 3.4g/t gold over 12 metres, out of an overall interval of 30 metres at 1.6g/t gold.

Drilling should start soon at the Peralonso permit area in Salamanca Province. This will be a three hole drill programme.

At 3.5p a share, up 0.38p, Aurum is valued at £4.14m. There was £2m in the bank at the end of October 2011. 

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