Aureus Mining Inc. (TSX: T.AUE, Stock Forum) said the first results from a 62-hole drilling program at the Weaju gold target are very positive.
Weaju, located within the Bea Mountain Mining licence in Liberia, is situated approximately 30 kilometres north-east of Aureus's flagship New Liberty gold project.
According to the Aureus Mining press release, highlights of the results include over 9.0 metres grading 6.6 grams per tonne gold, over 19.0 metres grading 2.5 grams per tonne gold and over 7.5 metres grading 10.0 grams per tonne gold.
Current and historical drilling has outlined the potential for approximately one kilometre of gold mineralization, which is open in all directions.
Assay results for the remaining 15 holes of the 9,000-metre program are expected in April.
These results cover the area between the Ridge and Main zones and the deeper extensions of the North zone and the Creek zone?
Aureus Mining is a gold exploration and development company with a focus on Liberia and Cameroon.
On Tuesday, Aureus Mining was trading at $0.58 a share. The company had a market cap of $128.4 million, based on 221.4 million shares outstanding. The 52-week high and low was $1.25 and $0.55 respectively.