18th Jun 2014 07:34
LONDON (Alliance News) - Gold and tungsten explorer Aurum Mining PLC said the operator of the Morille tungsten-tin project in North West Spain has identified clear targets for follow-up drilling, after results from initial drilling at the site highlighted the prospectivity of a large project area.
Aurum Mining has a 20% carried interest in the Morille project following its farmout deal with operator Plymouth Minerals Ltd.
The first phase drilling programme at Morille involved 61 Reverse Circulation holes, totalling 3,982 metres. All the assay results have now been received.
"Plymouth is highly encouraged by numerous significant near-surface scheelite intercepts and the programme has identified multiple follow-up targets for future exploration and resource definition drilling," according to extracts of a report by Plymouth published by Aurum.
"Shallow high-grade scheelite mineralisation has been proven in situ both outside of, and as extensions to, the historic operating mines on the Morille project area. Results validate that historic mining at Morille was constrained by landholders and not mineralisation/mine depletion," the extracts added.
Aurum Mining shares were up 3.5% at 1.7328 pence early Wednesday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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