ASX All Ords gold stock Aurum Resources Ltd (ASX: AUE) has been racing ahead of the All Ordinaries Index (ASX: XAO) this past year.
In early morning trade on Thursday, the Aurum Resources share price is up 3.5%, trading for 74 cents a share.
For some context, the All Ords is up 0.8% at this same time.
Taking a step back, the ASX All Ords gold stock has surged 146.7% over the past 12 months, compared to a 9.8% one-year gain posted by the benchmark index.
The African-focused miner has been benefiting from the surging gold price alongside its own exploration successes.
Here's what's happening today.
Image source: Getty Images
ASX All Ords gold stock lifts off on drill results
Investors are bidding up Aurum shares following the release of a promising exploration update.
The ASX All Ords gold stock reported hitting multiple broad, shallow, high-grade gold intercepts. This stems from Aurum's ongoing 30,000 metre diamond drilling program at its Napie Gold Project, located in Cote d'Ivoire.
Management said the latest results, which focus on the Tchaga and Gogbala deposits, provide the final data ahead of the upcoming Napie Mineral Resource Estimate (MRE) update.
Top results from the Gogbala deposit include 19.0 metres at 5.16 grams of gold per tonne from 146.0 metres, including 14.0 metres at 6.76 g/t Au.
Top results from the Tchaga deposit were reported to be 18.9 metres at 2.59 g/t Au from 176.1 metres, including 5.9 metres at 7.33 g/t Au.
Looking ahead, the ASX All Ords gold stock plans 130,000 metres of diamond drilling in calendar year 2026, with 100,000 metres planned at its 3.3-million-ounce Boundiali project and 30,000 metres at the 870,000-ounce Napie project.
As at 31 December, Aurum Resources held $42.2 million in cash.
What did management say?
Commenting on the results helping boost the ASX All Ords gold stock today, Aurum managing director Caigen Wang said: "This latest round of step-back diamond drilling at Napie continues to deliver broad, shallow, open-pitable intercepts, confirming the system's potential for substantial resource growth."
Wang added:
Our objective is to build a substantial multi-asset gold business in Cote d'Ivoire. While our near-term focus is the development of our Boundiali Project, the scale and grade continuity we are seeing at Napie – following our acquisition of Mako – suggests that it too has the potential to grow into a second major production pillar.
Is it too late to buy this soaring ASX All Ords gold stock?
After already rocketing 147% over 12 months, is the ASX All Ords stock still a good buy today?
Very much so, according to the team at Canaccord Genuity.
The broker has a speculative buy rating on Aurum Resources, with a price target of $1.50 per share. That represents a potential upside of more than 102% from current levels.
