Exploration continues apace at Aureus

The AIM and Toronto listed miner Aureus Mining burnt through around a quarter of its cash pile in the three months from April 1st as exploration continues apace.

The Liberia-focused miner's cash and cash equivalents of $19.4m at the end of June were down from $25.8m at the end of March, and $31.0m at the end of 2011.

With legacy mining claims settled in July at Weaju and the camp prepared, an extensive 8,500 metre drilling programme is planned to commence in the final quarter of this year.

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"Since the beginning of the year we have drilled 18,000m between targets around New Liberty, Leopard Rock, Ndablama and Gondoja," said David Reading, President and Chief Executive Officer of Aureus Mining. "We should be able to release the remaining results to the market over the coming months and will plan the next phases of drilling for the start of the next field season in October," Reading said.

JH