Perth, Australia – 2 July 2024 | Aurumin Ltd (ASX:AUN) ("Aurumin" or the "Company") is excited to announce additional positive results from its April RC drilling program at the Central Sandstone Project. The final 1m interval sample results have been returned, further confirming the potential of this significant gold project, located 520km north-east of Perth.
Key Highlights:
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Positive Drilling Results: The April drilling campaign successfully tested seven new open pit targets, with four returning positive results. Extensional drilling at Plum Pudding yielded an impressive bonanza result.
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Soil Sampling Success: Positive soil sampling results have been obtained from tenement E57/1140, generating several new targets.
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Upcoming Drilling Plans: The Company plans extensive RC and Air Core drilling across multiple targets, including the Birrigrin and Dandaraga Projects.
Results Highlights:
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Mt Klempt South: Notable intersections include 2m @ 11.02g/t Au from 16m (SN_XP_RC_24_0006) and 2m @ 3.69g/t Au from 44m (SN_XP_RC_24_0007).
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Two Mile Hill West: Significant results include 1m @ 3.87g/t Au from 71m (SN_XP_RC_24_0018) and 3m @ 2.19g/t Au from 77m.
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Old Town Trend: Key intersections include 2m @ 3.44g/t Au from 37m (SN_XP_RC_24_0010) and 1m @ 1.97g/t Au from 42m (SN_XP_RC_24_0013).
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Plum Pudding: Extensional drilling yielded an exceptional 18m @ 25.80g/t Au from 30m, including 2m @ 215.20g/t Au from 43m (SN_XP_RC_24_0036).
Upcoming Drilling Campaign:
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RC Drilling: Approximately 35 holes totaling 3,000m across six areas are planned, targeting the Plum Pudding extension and other mining lease targets.
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Air Core Drilling: Approximately 75 holes totaling 5,000m across three areas will cover regional projects and prospects, including the high-grade Birrigrin Project and the prospective Dandaraga Prospect.
Aurumin's Managing Director, Brad Valiukas, commented:
“We have had great results from the April drilling campaign. Testing new targets, we achieved significant results at four out of the seven targets, and the final split (1m) results further support this. Additionally, we received a bonanza result with extensional drilling at Plum Pudding, with a top assay of 344g/t and an unexpected void, likely old workings.
“We remain focussed on generating the critical mass required for future production at our Sandstone Operations, targeting additional open pit material to support an operational restart. This next round of drilling will look to expand the existing Resource at Plum Pudding, flesh-out some of the confirmed new targets on the mining leases and step further afield to the Birrigrin Project and Dandaraga prospect to target some potential higher-grade sweeteners.
“We are spoilt for choice with prospective drilling targets and we look forward to this quarter’s drilling and continuing to advance the project, with drilling expected to commence August.”
About Aurumin Limited:
Aurumin Limited is an ASX-listed mineral exploration Company focused on the Sandstone region in Western Australia.
The Sandstone Gold Operations were cornerstone by the acquisition of the Central Sandstone Gold Project by the Company in early 2022.
The Central Sandstone Gold Project comprises an 881,300 ounce gold mineral resource, significant project infrastructure and an expanding tenement footprint where the Company aims to support a gold mining operation in the future.
The Company's Johnson Range Project has a Mineral Resource of 64,700 ounces at a grade of 2.51g/t Au, located midway between Southern Cross and Sandstone.
The Birrigrin Project area was added in late 2022 and is 70km north of the Central Sandstone Gold Project. The Project has 39 mapped shafts dating to the early 1900s with recorded production grades up to 196g/t Au.
In addition to the Sandstone Gold Operations, the Company has a significant landholding at its Southern Cross Operations.
Mt Dimer regionally has a substantial tenure footprint with gold and iron ore potential. The Company is currently working towards completion of the sale of iron ore rights to MinRes for a combination of upfront and milestone cash payments and a $1/t royalty.
The Mt Dimer Mining Tenements have been divested to Beacon Minerals Limited. Historically the Mt Dimer Mining Tenements produced over 125,000 ounces of gold from open pit and underground production of approximately 600,000 tonnes @ 6.4g/t. Aurumin retains a 2% net smelter return royalty on gold production above 12,000 ounces and on all other minerals.
The Mt Palmer Project historically produced via open pit and underground methods, generating approximately 158,000 ounces of gold at an average grade of 15.9g/t. Aurumin has divested 51% of Mt Palmer to Kula Gold Limited, who can earn up to 80% by spending a$1M over 3 years.
The Company is actively exploring its tenements and pursuing further acquisitions that complement its existing focus and create additional Shareholder value.
For more information, please visit Aurumin.
About us:
Aurumin Limited is an ASX-listed mineral exploration company focused on two project areas in Western Australia. The Sanstone Gold Operations were cornerstoned by the acquisition of the Central Sandstone Project by the Company in early 2022. In addition to the Sandstone Gold Operations, the Company has a significant landholding at its Southern Cross Operations, including two historical high-grade gold production centres, Mt Dimer and Mt Palmer. The Company is actively exploring its tenements and pursuing further acquisitions that complement its existing focus and create additional Shareholder value.
Contact details:
Jane Morgan
Investor and Media Relations
+61 258 619 317
jm@janemorganmanagement.com.au
