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Aruma Resources Intersects High-Grade Gold at Salmon Gums Project

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) reported high-grade gold intersections plus multiple broad zones of gold mineralisation from the company’s Salmon Gums gold project in the Goldfields region of Western Australia.

Aruma Resources recently completed a first phase of reverse circulation (RC) drilling at the Salmon Gums project consisting of a total of 33 holes.

“The program has successfully validated the company’s exploration model for the project to potentially host a large gold system, and delivered highly encouraging high-grade results plus very broad zones of gold mineralisation,” Aruma Resources said in its ASX announcement.

Results included:

SCRC33
1 metre at 13.35 grams per tonne gold at 108m (EOH), within a broader section of 4m at 4.26g/t gold from 105m; and

SGRC26
94m at 0.11g/t gold from 6m to 100m (EOH).

Aruma has completed a second phase of drilling at the Salmon Gums project of 39 RC holes, assays from which are expected to be released when available.

 

 

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Web: www.arumaresources.com

 

Aruma Resources Pitches New Gold Camp

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THE CONFERENCE CALLER: Gold explorer Aruma Resources (ASX: AAJ) is living proof the market doesn’t always respond appropriately to the release of a promising set of drill results. By Mark Fraser

On the day the company’s managing director Peter Schwann spoke at the RIU Explorers Conference in Western Australia, Aruma had just published the initial assay results from 37 of a 40 hole 4,518 metre maiden RC drilling program at its Saltwater gold project in WA’s Pilbara.

On face value this all should have generated some investor interest for the company.

For a start 14 out of 37 holes hit anomalous gold (over 0.2 grams per tonne), while the results extended over a 4 kilometre strike length (which was open in all directions), indicating the presence of a possible new gold camp.

Furthermore, according to Schwann, a supergene gold blanket in excess of 200m in width was identified.

In addition, the results confirmed the Saltwater anomaly, returned assays of up to 1.26 grams per tonne and validated the outcropping Saltwater ring structure, which in turn highlighted a target area of 65 square kilometres.

The market, however, did not seem bullish, with Aruma’s share price dropping from 0.094 to 0.074 cents – a fall of 21.28 per cent.

“Now the question I have to ask is: why do we want to do greenfields exploration?” a seemingly perplexed Schwann asked RIU delegates.

“We put out good results this morning and bang – down we go.

“But the rewards are great. They’re there, De Grey and Chalice prove it.

“So that’s the rant – the rant is over.”

Aruma’s close-spaced drilling targeted old workings at the historic Saltwater mining area within the recently identified and prospective Mt McGrath Formation, host of the Mt Olympus gold mine.

Meanwhile the wider-spaced holes aimed at the extension of the contact and structure under cover some 3km to the east.
Aruma told the ASX that the supergene blanket was located almost 4km from the Saltwater cluster and highlighted the potential for a significant system – with the intersection of 4m at 0.47g/t in hole SRC 32.

Saltwater has eight granted exploration licences covering 736 square km. It sits around 100km south west of Newman and enjoys a strike extent of more than 65km of the highly significant Nanjilgardy Fault, the same regional structure reported as the primary source of gold mineralisation at Northern Star Resources’ (ASX: NST) Paulsens gold mine and Mt Olympus.

Despite the confused reaction from the market regarding the Saltwater drill results, Schwann still made his case for Aruma being an investment destination just before he stood down from the RIU podium.

The company, he said, offered organic growth via project generation for large gold discoveries in Australia.

It also wholly-owns large prospective project areas near major gold deposits in underexplored areas in both WA (Saltwater, Melrose and Scotia South) and New South Wales (Capital) that combined cover 1,572sqkm.

In addition the junior is debt-free and has $3 million in cash and receivables.

Just as important, though, is the fact Aruma does not plan to idly sit around.

“We’re going to be drilling, drilling, drilling,” Schwann said.

“And the good thing about our money is that we spend our money one and a half times.

“These are the R and D returns that we have got back since I took over in 2011 ($9,570,754, or a 43.8% return, creating a tax benefit of $4,189,894), so you can see we’ve got about $4 million – about the same as a float.”

 

 

Aruma Resources Prepares for Saltwater Drilling

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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).

 

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Web: www.arumaresources.com

 

 

Black Cat Syndicate Acquires Aruama Resources’ Projects

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THE BOURSE WHISPERER: Black Cat Syndicate (ASX: BC8) has entered into a binding agreement with Aruma Resources (ASX: AAJ) to acquire that company’s Trojan, Slate Dam and Clinker Hill gold projects in Western Australia.

The acquisition is subject to meeting certain conditions, such as the projects in question will be acquired by and held by Black Cat (Bulong) Pty Ltd, a wholly owned subsidiary of Black Cat.

The acquisition will complete upon approval or in principle approval of the Minister for the transfer of the tenements.

The deal comprises three key areas:

The Trojan project contains 115,000 ounces of Resource and is located approximately 15 kilometres by road east of Black Cat’s Fingals gold project, which is the likely location of the company’s planned processing facility.

The Slate Dam project is located some 10km to the east of the Bulong gold project and is an advanced exploration project over prospective areas of the underexplored Lake Yindarlgooda.

The Clinker Hill is also nice and close to the Fingals gold project and is an early stage exploration project containing structures that link the million-ounce Mt Monger mining centre with the Bulong gold project.

Once the acquisition is completed, Black Cat’s landholding will increase from 499 square kilometres to 756sqkm.

Trojan has a Resource of 2.1 million tonnes at 1.7 grams per tonne gold for 115,000 ounces and will increase Black Cat’s total Resources by 16 per cent to 10.8 million tonnes at 2.4g/t gold for 826,000 ounces.

Black Cat has paid a non-refundable deposit of $50,000 upon signing, with a balance of $450,000 payable at completion, which is expected to occur in early October 2020.

“This acquisition accelerates Black Cat’s move towards a target of more than one million ounces of Resources,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The Trojan deposit has strong synergies to our Fingals gold project, presents a near-term mining opportunity with 115,000 ounces in Resource on a granted mining lease and will become part of our larger Fingals gold project.

“The acquisition increases our total Resources to 826,000 ounces.

“We will rank the acquired exploration and mining opportunities concurrently with our 60,000 metres drilling campaign and mining studies across the Bulong and Fingals gold projects.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Aruma Resources Identifies Anomalous Gold at Melrose

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) achieved further anomalous gold results at the company’s Melrose gold project in the Pilbara region of Western Australia.

Aruma Resources’ Melrose project sits on the southern edge of the Pilbara Craton, adjacent to Northern Star Resources’ (ASX: NST) Paulsens gold mine and Belvedere deposit.

The latest anomalous gold results come from two new Exploration Licence Applications (ELA47/4414 and ELA08/3244) mad by Aruma, which cover a total of 19 square kilometres at the Melrose project, hat have delivered historical gold samples up to 1.74 grams per tonne in quartz veins as well as rock chips assays.

Exploration Licence Application ELA08/3244 hosts gold mineralisation within quartz veins that were reported in Northern Star Resources’ 2012 Annual Exploration Report on the Ashburton project.

“The significance of the quartz veins in the new lease area is that they are expected to be associated with adjacent lode style gold mineralisation,” Aruma Resources said in its ASX announcement.

“Aruma will be utilising these veins to identify any associated lodes systems.”

 

 

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Aruma Resources Gearing Up to Resume Slate Dam Drilling

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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.”

 

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Website: www.arumaresources.com

 

Unlocking Slate Dam Gold Potential

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THE INSIDE STORY: Aruma Resources (ASX: AAJ) has made considerable progress in rapid time as it targets large scale sediment- hosted gold deposits throughout its Eastern Goldfields project area in Western Australia.

Aruma Resources’ 100 per cent-owned Slate Dam project is located 40 kilometres from the home of WA gold mining, Kalgoorlie.

The company recently expanded the Slate Dam project area and consolidated ground holding via the 100 per cent acquisition of the Trojan gold project (ML25/104) from Westgold Resources (ASX: WGX).

To the north, Aruma has the Beowulf gold project, which it pegged in 2017, covering 490 square kilometres of gold prospective greenstone sediments.

The company’s present focus is Slate Dam, which it believes has comparisons to the world class Invincible gold deposit, being mined by global gold major Gold Fields at its nearby St Ives operation.

Determined to increase the proven gold mineralisation footprint at Slate Dam, Aruma has had drill rigs constantly spinning on the project since late last year, completing 63 RC holes for 6,774 metres in two phases of drilling which have produced a raft of encouraging results.

A Phase 2 drilling program was undertaken early this year at Slate Dam consisting 23 holes of reverse circulation (RC) drilling for a total of 2,778 metres to follow up results achieved from the first phase of drilling that defined what are interpreted as two major, tabular 20m thick shoots dipping 30 degrees to the west.

The Phase 2 drilling program did what it was asked in expanding the footprint of the gold mineralised system at the Slate Dam Project.

The drilling also confirmed the sediment hosted gold mineralised shoots that had been delineated by the Phase 1 drilling.

Assays showed the drilling to have encountered multiple intersections of anomalous gold mineralisation, with 12 of the 23 holes drilled intersecting gold mineralisation.

Aruma’s second phase program expanded the Slate Dam gold mineralised system to a total distance of at least four kilometres (from the north-west to the south east) – via the delineation a new gold shoot, christened S2.

“We took a great deal of encouragement from that second Phase of drilling at Slate Dam,” Aruma Resources managing director Peter Schwann told The Resources Roadhouse.

“While we continue to pursue further higher-grade mineralisation and the source of what we believe to be a significant new gold system at Slate Dam, our first two drill programs completed in the space of just six months, have taken the project from concept to validation and increased its potential to host significant sediment-hosted gold deposits.

“Importantly, the drilling continued to intersect gold mineralisation over a large portion of our initial target area, providing confidence to immediately commence a next round of drilling to look for extensions and repetitions, plus higher-grade zones.”

Aruma wasted little time getting back out on the ground and on 1 June kicked of its third phase of drilling at Slate Dam.

During this round, Aruma targeted the completion of approximately 3,000m of RC drilling across a total of 25 holes up to depths of 150m.

Recent Phase 3 drilling targeted priority areas to the north and south of the currently drill defined shoots at Slate Dam designed to extend the current gold mineralised system while hoping to identify repetitions of the mineralised system to the east and to the west of the drill defined area.

At the time of writing, Aruma had received assay results from the first eight holes (holes SDRC64 to 71) of this program, which continued strengthen the company’s exploration model for the project to host sediment-hosted gold deposits.

The Phase 3 drilling intersected widespread shallow gold mineralisation with seven out of the eight holes assayed intersecting anomalous gold mineralisation.

Of importance was that the drilling discovered a new gold trend to the east of the current drill defined area at Slate Dam, with a highlight intersection of 6m at 2.43g/t gold from 15m returned from within a broader zone of 15m at 1.1g/t gold (in hole SDRC68).

“The first assay results in the Phase 3 drilling returned multiple broad zones of gold mineralisation plus further strong grades,” Schwann said.

“The significant gold intersection in hole SDRC68 is of substantial importance as it duplicates the similar intersection of 7 metres at 2.1 grams per tonne gold in the nearby drill hole SDRC20 reported in our first phase of drilling.

“This is an important result, as it confirmed the presence of gold mineralisation and increasing grades to the east at the project, which was a key objective of this phase of drilling.

“We will now seek to extend these two near surface gold zones along strike and look for more repetitions to the east in the remaining holes in the Phase 3 program.”

Aruma’s drilling to date at Slate Dam has focused on a major, high tenor gold anomaly measuring 200ppb gold and covering an area of seven square kilometres, in the north of the project – and it will continue to prove up the gold system at this target.

In parallel, the company is about to embark on a detailed project-wide targeting program over the entire 255 square kilometre Slate Dam project area, and the Beowulf project, to define the next batch of priority drill targets.

“This is hugely exciting for the company, Schwann enthused.

“To date we have drilled one priority target at Slate Dam, which has resulted in the discovery of a significant sediment-hosted gold system.

“Now we are now expanding our focus to take in the in the entire 750 square kilometres of tenements at Slate Dam and Beowulf, with the aim of delivering multiple, new high priority drill targets.”

This work is already underway with a comprehensive data base for all the projects currently being constructed, utilising the extensive amount of available data on the projects.

Then the company will then apply magnetic surveys and aerial electromagnetic (EM) programs to generate and rank priority targets for the next phases of drilling.

Current timelines have the company ready to drill to first of the newly ranked targets in the final quarter of calendar 2018.

As part of this project-wide approach, Aruma may also pursue the opportunity to expand the known resources at Triton, which currently stand at 2.8 million tonnes at 1.61g/t gold for 144,800 ounces of gold (at a 0.7g/t cut‐off).

Schwann brings a keen sense of purpose and intent to the work ahead of the company.

“We have two outstanding greenstone belt projects – Slate Dam and Beowulf – in a highly sort after mineral district in the Eastern Goldfields, where the likes of AngloGold Ashanti, Northern Star and Silver Lake all have operations,” he explains.

“Our initial targeted drilling has delivered immediate success and we will continue advance that as a core priority, and that along with the opportunity to discover and develop district scale gold deposits makes the outlook for Aruma very exciting.

“If you look at Gold Fields Invincible Deposit, it was taken from discovery holes being drilled in 2012 to now being a world class gold deposit, which hosts more than three million ounces of gold.

“We believe the potential discovery upside for us is enormous, and we have a clear focus and plan in place to unlock this.”

 

Aruma Resources Limited (ASX: AAJ)
…The Short Story

HEAD OFFICE
Level 1
6 Thelma St
West Perth WA 6005

Ph: +61 3 9321 0177

Email: info@arumaresources.com
Web: www.arumaresources.com

DIRECTORS
Paul Boyatzis, Peter Schwann, Mark Elliott

 

Aruma Resources Encounters Widespread Gold Mineralisation

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) has received the first batch of assay results from recent drilling at the company’s 100 per cent-owned Slate Dam gold project in the Eastern Goldfields of Western Australia.

Aruma Resources completed a Phase 3 drilling program at the Slate Dam project, from which it has received assays for the first eight holes (holes SDRC64 to 71) of a planned 25 hole reverse circulation (RC) drill program, with planned drilling depths of up to 150 metres.

The company declared the first assays from the Phase 3 program to have delivered further results consistent with its sediment-hosted gold model for Slate Dam while confirming the increasing grades to the east at the project.

Highlight results returned to date in the Phase 3 drilling include:

SDRC68
6 metres at 2.43 grams per tonne gold from 15m, within a broader zone of 15m at 1.1g/t gold from 6m.

Aruma explained the current phase of drilling was designed to further expand the Slate Dam gold mineralised system beyond its current mineralised footprint which extends over a total distance of at least four kilometres, and to test for repetitions of mineralisation to the east and west of the current drill defined area.

“Slate Dam continues to develop,” Aruma Resources managing director Peter Schwann said in the company’s announcement to the Australian Securities Exchange.

“The broad intersection of strong gold mineralisation to the east of the previously drill defined area is highly encouraging and was a key aim of this phase of drilling.

“The first assay results in the Phase 3 drilling have returned multiple broad zones of gold mineralisation plus further strong grades.

“The significant gold intersection in hole SDRC68 is of substantial importance as it duplicates the similar intersection of 7 metres at 2.1 grams per tonne gold in the nearby drill hole SDRC20 reported in our first phase of drilling.

“This is an important result for the project and we will seek to extend these two near surface gold zones along strike and look for more repetitions to the east in the remaining holes in the Phase 3 program.”

Aruma is svheduled to resume the Phase 3 drilling program with the remainder of the program to focus on extensional drilling designed to expand the Slate Dam gold system and infill drilling of target areas along strike of drill holes SDRC20 and SSRC68, which both host broad zones of gold mineralisation.

The company also advised that Section 18 Heritage clearance surveys in respect of all the leases within the Slate Dam project and Goddards Dam project have now been completed and will be submitted for Ministerial Approval.

 

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Aruma Resources Hit Gold in First Phase Three Hole

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) has encountered sulphide mineralisation in the first hole of a Phase 3 drilling program currently underway at the company’s 100 per cent- owned Slate Dam gold project in the Eastern Goldfields of Western Australia.

Aruma Resources is undertaking a reverse circulation (RC) drilling program across a total of 25 holes with planned drilling depths of up to 150m.

The drilling has been designed to further expand the Slate Dam gold mineralised system, and to test for repetitions of mineralisation to the east and west of the current drill defined area.

Aruma informed the market that it completed 1,894m of drilling in 16 holes in the current program to date, which has delivered highly encouraging initial observations with sulphide-carbonate alteration, in the form of pyrite-ankerite, intersected over a 26m zone in the first hole (SDRC64) – and pyrite also identified in a further seven of the sixteen completed holes to date.

“The successful intersection of sulphide-carbonate in the first hole of our current drilling program at Slate Dam is most encouraging and is consistent with our model for the project to host a significant sediment-hosted gold system,” Aruma Resources managing director Peter Schwann said in the company’s announcement to the Australian Securities Exchange.

“The presence of strong pyrite in hole SDRC6 provides a strong indicator of gold mineralisation, and, subject to assay results, will provide further continuity of gold mineralisation through the system and also expand the mineralised system at Slate Dam – which was a key aim of this phase of drilling.”

 

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Website: www.arumaresources.com

 

Aruma Resources Kicks of Third Slate Dam Drilling Phase

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) has commenced a third phase of drilling at the company’s 100 per cent-owned Slate Dam gold project in the Eastern Goldfields of Western Australia.

Aruma Resources plans to complete approximately 3,000 metres of reverse circulation (RC) drilling across a total of 25 holes in this phase of drilling, with planned drilling depths of up to 150m.

Drilling is expected to be completed in mid-June with results to be released as they become available.

Aruma outlined the program saying it is intended to target priority areas to the north and south of the currently drill defined shoots at Slate Dam.

It is also designed to extend the Slate Dam gold mineralised system and will seek to identify repetitions of the mineralised system to the east and to the west of the current drill defined area.

Specifically, the program will include:

Eight holes to target gold extensions to the north of current drill defined area;
Six holes to target gold extensions to the south of the new S2 gold shoot discovered in Phase 2 drilling;
Nine holes to seek repetitions of Slate Dam mineralised system to the east of the current drill defined area; and
Two holes to seek repetitions of Slate Dam mineralised system to the west of the current drill defined area.

“We are highly encouraged by the results of our two drilling programs to date at the Slate Dam gold project,” Aruma managing director Peter Schwann said in the company’s announcement to the Australian Securities Exchange.

“Drilling has successfully taken the project from concept to validation and has continually expanded the gold mineralised system at Slate Dam.

“The next phase of drilling will commence immediately…with the aim of extending the significant current mineralised system and also seeking to discover new gold mineralised shales to the east and west of the initial drill defined area.”

 

Email: info@arumaresources.com

Website: www.arumaresources.com