ASX Announcement 26 July 2017

ASX Code: ARM

Aurora Minerals Group of Companies

Diversified Minerals Exploration via direct and indirect interests

Predictive Discovery Limited (ASX: PDI) - 39.6%

  • Gold Exploration / Development in Burkina Faso

  • Graphite, Lithium- Gold, Silver and Base Metals

  • Molybdenum and Tungsten Exploration in South Korea

  • Manganese, Base metals and gold

Peninsula Mines Limited (ASX: PSM) - 29.3%

Aurora Western Australian Exploration - 100%

Contact Details

Principal & Registered Office

Suite 2, Level 2

20 Kings Park Road West Perth WA 6006

Martin Pyle - Managing Director Tel: +61 8 6143 1840

Karen Oswald - Media and Investor Relations Tel: +61 423 602 353

Ken Banks - Investor Relations Tel: +61 402 079 999

Website

www.auroraminerals.com

Peninsula Mines: Osu Gold-Silver Project Drilling Access Granted

Peninsula Mines Limited, a company in which Aurora Minerals Limited holds a 29.3% shareholding, today announced that drilling access has been granted to the Osu Gold-Silver Project in South Korea.

A copy of the announcement is attached.

For further information please contact:

Media

Martin Pyle Karen Oswald

Managing Director Marko Communications Telephone: +61 8 6143 1840 Mob: +61 423 602 353

ASX:PSM

26 July 2017

DRILLING ACCESS GRANTED TO OSU GOLD-SILVER PROJECT
  • Regulatory approval received for drilling access to two separate drill sites:
    • Pal Gong East - to test below high-grade channel sample results incl. 1.25m @ 7.73 g/t AuD1
    • Pal Gong West - to follow up previous drilling including 0.4m @ 8.4 g/t Au, 6,121 g/t Ag
  • Drilling to be prioritised alongside drill testing of other polymetallic sulphide-porphyry targets on the Ubeong ProjectD3 planned for Q3/4 2017

Peninsula Mines Limited ("Peninsula" or the "Company") is pleased to announce that it has received approval from the Korean Forest Service to access two separate drilling sites which will enable the company to test high-grade gold and silver targets at the Company's wholly-owned Osu Gold Project in South Korea (see inset Figure 1).

The first drilling site is located immediately to the west of the Pal Gong East Lode (see Figures 1 and 2), where rock-saw channel sampling by Peninsula was completed obliquely across a 30m wide zone of sulphidic sub-epithermal vein structures in and around the historical underground workings. Several high-grade, polymetallic results were produced across the veined zones, released 12 December 2016 (see Figure 1)D1, including:

5.7m @ 3.14 g/t Au, incl. 1.25m @ 7.73 g/t Au (PG038 - 042);

0.15m @ 11.3 g/t Au, 327 g/t Ag, 0.56% Cu (PGO57B); and

0.20m @ 18.3 g/t Au, 224 g/t Ag, 2.63% Pb (PGO47)

The proposed drilling from this site will include 1 to 2 diamond drill holes testing the down-plunge extensions of these high-grade zones within and below the area of previous historical stoping on the Pal Gong East structure (see Figures 1 and 2).

The second drilling site is located to the east of the Pal Gong West lode where previous limited drilling in 1975 by the Korean Mineral Promotion Corporation, now the Korea Resource Corporation (KORES), intersected very high grade silver with gold in diamond drill hole 75-2: 0.3m @ 5.1 g/t Au, 2,252 g/t Ag from 86.3m and 0.4m @ 8.4 g/t Au, 6,121 g/t Ag from 110.8m (see JORC Tables 1 and 2 for data).

The proposed drilling from this site will include 1 to 3 diamond drill holes testing the immediate vicinity, along strike and down dip, of the previous drilling intersections below the area of historical stoping on the Pal Gong West structure (see Figures 1 and 2).

Drilling may also be extended from the first drilling site (Pal Gong East) to test a prominent magnetic anomaly immediately below the workings that may represent a mineralised porphyry intrusionD2 (see Figure 3).

Application is being made to KORES for direct funding assistance for the proposed drilling programme of up to 5 diamond drillholes and, depending on the outcome of the application, drilling will be prioritised alongside other drilling programmes planned for Q3/Q4 2017 including the testing of sulphide-porphyry targets on the Ubeong Zinc-Silver and Copper-Gold ProjectD3.

Managing Director of Peninsula Mr Jon Dugdale, said "We are very pleased to have gained access to drill the Osu high-grade gold-silver targets, which, along-side the polymetallic sulphide-porphyry targets on our Ubeong Project, will provide the Company with multiple drilling targets to test during this next exciting stage of the South Korean exploration programme."

Osu

Pal Gong West

Previous KORES Drill hole: 75-2: 0.3m @ 5.1 g/t Au, 2,252 g/t Ag and 0.4m @ 8.4 g/t Au, 6,121 g/t Ag

Peninsula Channel SamplingD1

Pal Gong

0.2m @ 18.3 g/t Au, 227 g/t Ag 0.15m @ 11.3 g/t Au, 327 g/t Ag 5.7m @ 3.14 g/t Au inc. 1.25m @ 7.73 g/t Au Figure 1: Osu Gold Project, Pal Gong East & West Lodes (red traces), channel-samplingD1 and KORES DH 75-2 results 3,943,000mN 360,000mE Pal Gong West Pal Gong 3,942,500mN 361,000mE Figure 2: Osu Gold Project, Pal Gong East & West Lodes with workings, proposed drilling locations 360,000mE 362,000mE 364,000mE 3,945,000mN 3,943,000mN 3,941,000mN 3,939,000mN Figure 3: Osu Gold Project, Figure 3: KIGAM 2008 Imsil Aeromagnetic image reduced to the pole with Palgong East and West, and Baegun historical mine workings with proposed drilling locations

Aurora Minerals Limited published this content on 26 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 July 2017 02:25:02 UTC.

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