22nd May 2014 12:21
LONDON (Alliance News) - Aurum Mining PLC Thursday said the first phase of a drilling programme at the Morille tungsten-tin project in north west Spain has now been completed, showing scheelite mineralisation in numerous holes.
The AIM-listed gold and other minerals exploration company said the operations are being carried out by Plymouth Minerals Ltd, which exercised its option to acquire 80% of the project from Aurum in October, leaving the company with a 20% stake.
The company said Plymouth has drilled a total of 3,982 metres in 61 drill holes and has found scheelite mineralisation, an important ore component of tungsten, in multiple holes.
Aurum said that Plymouth has also verified several historical drill holes from the project, and assay results from both twelve of the new holes and the historical drilling includes a five-metre space at 0.24% tungsten trioxide from 28 metres down and a 1.45 metre space at 0.95% tungsten trioxide from 19.35 metres in depth.
The company said that samples from the remaining 49 drill holes have been despatched in batches for analysis, and all results are expected in four to five weeks
Aurum Mining shares were trading flat at 1.50 pence on Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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