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Finance Investment, Oil Mining Resources

Aurumin Limited (ASX:AUN) – PRE-DEVELOPMENT ACTIVITY COMMENCED AT HIGH-GRADE MT DIMER GOLD PROJECT

Aurumin Limited (ASX: AUN) 2 mins read

Aurumin Limited (ASX: AUN) (“Aurumin” or the “Company”) is pleased to announce activity to work towards development of its 100% owned Mt Dimer Project has commenced. Mt Dimer is a historical high-grade production centre, having produced over 125,000 ounces of gold, including open pit and underground production of 600,000 tonnes @ 6.4 g/t Au. 

Highlights

  • The Mt Dimer deposits are located on granted mining leases, with road access, airstrip and nearby camp facilities. Two phases of development are proposed for Mt Dimer and pre-development activities have commenced for a Phase 1 operation. Phase 1 operations are intended to be on a toll-treat or ore sale basis. 
  • Phase 1 – Proposed mining of shallow open pits at the high-grade Lightning and Golden Slipper deposits. 
    • Lightning deposit - high-grade, unmined deposit where recent drilling intersected 10m @ 20.22g/t Au (including a 1m sample with a grade of 153.5g/t Au) 
    • Golden Slipper deposit – proposed development to the south of a small open pit that mined in the 1990s to a depth of 63m where 67,000t @ 3.4g/t Au for 7,325oz was extracted 
  • Phase 2 – Proposed expansion of mining beyond Phase 1 activity, including potential cutbacks on Lightning and Golden Slipper deposits, and the potential development of the LO3, T12, Karli West, Frodo and Anomaly 2 deposits. 

Aurumin's Managing Director, Brad Valiukas, commented: 

“The gold price remains very healthy and we have the Mt Dimer Project, with the small, but high-grade, Lightning and Golden Slipper deposits. We have a significant amount of capital in the ground, and it’s appropriate for us to realise a return on that investment and generate value for shareholders. 

“Lightning and Golden Slipper are on existing mining leases, at a previously operated site, and there is a large amount of infrastructure in place and available, with access to haulage roads, airstrip, and camp facilities. In addition, there is a large amount of work already completed at the Project including metallurgical testwork and flora and fauna surveys. There are multiple gold processing plants in the broader region actively engaged in toll treatment activity, including at Coolgardie and Marvel Loch. 

“Over the next couple of months, we will work to lock in toll treatment capacity or an ore purchase agreement, mining costs and engage with DMIRS to finalise permitting requirements. This will allow us to finalise cut-off grades for resource reporting and design purposes and update the market as appropriate, including specific timelines. 

“We have the capacity to progress these Phase 1 pre-development activities internally and in parallel with exploration elsewhere, including at the Sandstone Gold Project."


About us:

Aurumin Limited is an ASX-listed mineral exploration Company focused on two project areas in Western Australia. 


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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