THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) informed the Day One crowd at the Diggers & Dealers forum in Kalgoorlie of its plans to advance the potential of the company’s 100 per cent-owned Slate Dam gold project in the Eastern Goldfields of Western Australia.
Aruma Resources has to date completed 8,554 metres of reverse circulation (RC) drilling in three phases at the Slate Dam project with each phase focused on a large scale, high-tenor, seven square kilometre gold anomaly in the northern part of the project.
Aruma’s exploration is aimed at discovering new sediment-hosted gold deposits like Goldfields Limited’s nearby, world class three-million-ounce Invincible gold deposit.
The company explained the Phase 3 drilling program was suspended due to inclement weather conditions at the project and rig availability.
The balance of the program will be completed this month and consist of approximately 20 RC holes for a total of 2,500 metres.
The pause in drilling has provided the opportunity to analyse available drill data generated to date and to further refine drill targets to complete the phase 3 drilling.
The remaining component of the phase 3 program will focus on drill targets designed to add strike and dip to the current significant gold intersections.
“Aruma has a clearly defined exploration strategy at Slate Dam,” Aruma Resources managing director Peter Schwann said in the company’s announcement to the Australian Securities Exchange.
“We are currently exploring for three or more zones of Invincible-style mineralisation with dimensions of approximately 10 metres in width and 1,000 metres in length, potentially mineable to a depth of 120 metres as an open cut in the range of three grams per tonne for one million ounces of gold, plus underground potential.
“If our drilling continues to validate this exploration model, the company will be in a position to deliver significant value to shareholders, and the resumption of drilling this month is the next step in the process.
“In addition, we are excited to advance our project-wide targeting program.
“The ability to have multiple high priority targets to be drilled progressively at Slate Dam and Beowulf will assist the company derive the maximum value for shareholders from its project portfolio.”