Aruma Resources Prepares for Saltwater Drilling

THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) is preparing its first drilling program at the company’s 100 per cent-owned Saltwater gold project in the Pilbara region of Western Australia.

With all eight leases now granted at the Saltwater project, Aruma plans to undertake a reverse circulation (RC) drilling program of up to 5,000 metres.

Aruma completed an initial phase of field work at Saltwater consisting mapping and sampling programs at the priority Saltwater Ring Structure target, a large 60 square kilometre magnetic/conductivity anomaly.

Through these programs, Aruma defined targets for the first phase of drilling at Saltwater, for which it has submitted a program of works (PoW) to the Department of Mines, Industry Regulation and Safety (DMIRS).

“Following the successful sale of our Kalgoorlie leases for $500,000, announced earlier this month, we have continued to advance our Pilbara, Norseman and New South Wales projects,” Aruma Resources managing director Peter Schwann said in the company’s announcement to the Australian Securities Exchange.

“Aruma is well funded with some $4 million in cash and receivables, including $160,000 due in the next round of R&D tax credits.

“This together with a new Exploration Manager will allow us to aggressively explore and evaluate our strategically located gold project portfolio, resulting with drilling to define potential resource targets.”

Elsewhere across its portfolio, Aruma has completed Mineral Mapping and Aster Conductivity studies at the Melrose project, also in the Pilbara region, where preliminary results have confirmed the presence of the interpreted alteration within the project area, consistent with the company’s exploration model.

The Melrose project consists of eight ELAs covering a total area of 216sqkm, adjacent to Northern Star Resources’ Paulsens gold mine.

At the Capital gold project in the Lachlan Fold Belt of NSW, Aruma conducted initial community engagement meetings with members of the local communities near the project area (E5955, E5956 and E5987 in the Goulburn-Canberra districts and EL 5987 within the Queanbeyan-Palerang Shire).