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ARUMA RESOURCES LIMITED

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Drilling Resumes at Slate Dam Gold Project

ASX Announcement 28 August 2018


HIGHLIGHTS 

  • Drilling in Phase 3 program has resumed at Slate Dam Gold Project and is designed to confirm and extend the two defined lodes 
  • Drilling has defined two lode positions including a new steep higher grade gold zone; o steep >2g/t Au zone (from drill hole SDRC68) and o Shallow dipping 20m thick >1g/t Au zone from Phase 1 drilling 
  • Phase 3 is expected to be completed this month

Aruma Resources Limited (ASX: AAJ) (Aruma, the Company) is pleased to announce the resumption of drilling at the Company’s 100%-owned Slate Dam Gold Project in the Eastern Goldfields of Western Australia.

Aruma’s Phase 3 drilling program at Slate Dam was suspended recently due to inclement weather conditions at the project and rig unavailability. The Company now advises that this phase of drilling has resumed, and is anticipated to consist of approximately 20 reverse circulation (RC) holes for a total of 2,400 metres.

The pause in the phase 3 drilling program provided Aruma the opportunity to analyse drill results received to date to further refine drill targets to complete the phase 3 drilling. The phase 3 program is expected to be completed next month and results will be released when available.v

The remaining component of the Phase 3 program is designed to extend the current strike length of the target area at Slate Dam and test for extensions of the gold mineralised zone at depth (see Figures 1 and 2 for location of drilling targets).

To date, Aruma has completed 8,554 metres of reverse circulation (RC) in three phases of drilling at the Slate Dam Project, focused on a large scale, high-tenor >200ppb, seven square kilometre gold (Au) anomaly in the northern part of the Project. The area explored in detail is only some 3% of the total area available, and the complete area will be appraised in the coming months with the completion of a new project data base.

The Company’s exploration is aimed at discovering new sediment-hosted gold deposits similar to Goldfields Limited’s (JSE: GFI) nearby, world class 3Moz Invincible Gold Deposit. Refer to ASX announcements of 6 July, 29 May, 21 February and 1 February 2018 for further information on exploration and drilling results to date.

The Section 18 request for Ministerial Approval for exploration permission has been submitted to the DPLH for approval over the complete Slate Dam Project area and is expected to be received in October.

Click here to view the full announcement

Exploration Update – Drilling to resume this Month

ASX Announcement 6 August 2018


HIGHLIGHTS 

  • Drilling at the Slate Dam Gold Project has focused on a high-tenor, >200ppb gold anomaly in the north of the Project which has highlighted the potential of a significant new gold system 
  • Drilling has defined two lode positions at Slate Dam including a new steep high grade gold zone; 
    • steep >2g/t Au zone from SDRC68 and 
    • Shallow dipping 20m thick >1g/t Au zone from Phase 1 drilling
  • Drilling to resume this month and is planned to confirm the extent of both 
  • Detailed project-wide targeting program at Slate Dam and Beowulf to commence – ranking high priority targets for drilling to unlock the Projects’ full potential 
  • Company assessing options to realise value for the Trojan Gold Project which hosts a JORC 2012 Resource of 2.8Mt @ 1.61g/t gold (144,800oz Au)

Aruma Resources Limited (ASX: AAJ) (Aruma, the Company) is pleased to announce the following update on its exploration programs at the Company’s 100%-owned Slate Dam Gold Project in the Eastern Goldfields of Western Australia, and its plans to advance the Project’s significant potential.

Aruma has completed 8,554 metres of reverse circulation (RC) drilling in three phases at the Slate Dam Project (see Figure 1 Project location map). Each phase focused on a large scale, high-tenor >200ppb, seven square kilometre gold (Au) anomaly in the northern part of the Project. The Company’s exploration is aimed at discovering new sediment-hosted gold deposits similar to Goldfields Limited’s (JSE: GFI) nearby, world class 3Moz Invincible Gold Deposit.

Aruma’s drilling to date has successfully; 

  • Highlighted a potentially significant new gold system, and intersected multiples zones of thick gold mineralisation plus high-grade gold mineralisation; 
  • Delineated multiple 15-20 metre thick gold shoot which host mineralised sediments and/or structures grading >1g/t Au, with multiple 7 metre thick >2g/t Au potential ore zones; 
  • Confirmed the presence of stratigraphic gold mineralisation extending over a total known distance of at least 4 kilometres from the north-west to the south-east; and 
  • Identified that the gold grade appears to increase to the east of the current drill-defined area - in line with the Company’s interpreted exploration model for repetitions of the known gold mineralised system to exist to the east and west of the current drill-defined area.

Refer ASX announcements of 6 July, 29 May, 21 February and 1 February 2018 for further information on exploration and drilling results.

Drilling to resume 

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 (see Figure 2 and 3 for location of drill targets).

Click here to view the full announcement

QUARTERLY ACTIVITIES REPORT

ASX Announcement 31 July 2018


FOR THE QUARTER ENDED 30 JUNE 2018 

HIGHLIGHTS 

  • Slate Dam Phase 2 drill program completed 
  • Slate Dam Phase 3 drill program 50% complete 
  • Intersections suggest two mineralisation trends

Aruma Resources Limited has several advanced Gold projects in the Kalgoorlie Region which cover over 800km2 of which 780km2 are wholly operated by Aruma.

KALGOORLIE PROJECTS 

The Company advanced the Slate Dam project during the quarter, by drilling two RC programs totaling 4,558m and defining several shoots at Slate Dam, as well as purchasing the Transville lease, E25/526, and a small prospecting licence, P25/2333 (Figure 2). This has increased the coverage over the prospective gold trends at Slate Dam to 80% or 266km2 of 100% owned leases. The area around Slate Dam and Beowulf has become of interest to several major producers and exploration companies with lease acquisition and drilling around both projects.

Beowulf is now 100% granted and covers 490km2 of rocks similar to that which cover the west limb of Saracen Mining Limited's Carosue Project. It has proven gold endowment from the gold mining carried out on several leases purchased last year and located towards the center of the project.

SLATE DAM GOLD PROJECT 

The Slate Dam Project comprises exploration licenses E25/526, E25/534, E25/553, E25/556, E25/558 and ELA25/571 together with mining lease M25/104 and prospecting licence P25/2333 covering some 266km2 of Black Flag Group felsic sediments strategically located only 50km east of Kalgoorlie.

Click here to view the full announcement

DRILLING INTERSECTS WIDESPREAD GOLD MINERALISATION AT SLATE DAM GOLD PROJECT

ASX Announcement 6 July 2018

Repetitions of gold mineralised trend to the east confirmed by drilling


HIGHLIGHTS 

  • New gold trend of 6m at 2.43g/t from 15m in hole SDRC68 discovered to the east of current drill defined area 
  • Located parallel to intersection of 7m at 2.1g/t Au from 11m in hole SDRC20 in Phase 1 drilling 
  • 15 holes for 1,660m completed to date in Phase 3 drilling
  • 7 out of the 8 holes assayed to date have intersected anomalous gold mineralisation 
  • Drilling of 25 hole – 3,000m Phase 3 program to resume this month

Aruma Resources Limited (ASX: AAJ) is pleased to announce the first batch of assay results from its Phase 3 drilling program at the Company’s 100%-owned Slate Dam Gold Project in the Eastern Goldfields of Western Australia.

Assays have been received for the first eight holes (holes SDRC64 to 71) of a planned 25 hole – 3,000 metre reverse circulation (RC) drill program, with planned drilling depths of up to 150 metres.

The first assays from the Phase 3 program have continued to deliver results consistent with the Company’s sediment-hosted gold model for Slate Dam and confirm the increasing grades to the east at the Project.

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 (from the north-west to the south east), and to test for repetitions of mineralisation to the east and west of the current drill defined area.

Highlight results returned to date in the Phase 3 drilling include (see Figure 1 and Table 1);

  • 6m @ 2.43g/t Au from 15m; within a broader zone of 
  • 15m @ 1.1g/t Au from 6m in hole SDRC68.

Aruma has completed 1,660 metres of drilling (plus 114 repeat assays) in 15 holes in the current program to date. Drilling was initially planned to be completed in June but the program was interrupted due to unforeseen rig unavailability and wet conditions onsite.

Aruma managing director Peter Schwann said;

“Slate Dam continues to develop. 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 2.1g/t 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.”

Observations from Phase 3 drilling results to date

The drilling completed has intersected widespread shallow gold mineralisation, with seven out of the eight holes assayed to date having intersected anomalous gold (>0.1g/t Au).

Significant sulphide-carbonate-mica alteration in the form of pyrite-ankerite-sericite, which is a key indicator of the presence of gold mineralisation, has been intersected in multiple holes in this first batch of assay results.

In drill hole SDRC68, pyrite-ankerite-sericite was intersected over a broad zone, which assayed at 2.43g/t Au over a six metre interval from 15 metres down hole. The intersection is quite visible in having pyrite carbonate mica quartz and is bleached, which completely fits the Slate Dam exploration model.

This result is significant as SDRC68 is situated in close proximity (140 metres to the east) to hole SDRC20 which returned an intersection of 7 metres @ 2.1g/t Au from 11 metres (within a broader zone of 16 metres @ 1.34g/t Au) in Aruma’s Phase 1 drilling program (as shown in Figure 1). The Company will now undertake drilling along strike of these two holes as well as targeting further repetitions of these mineralised strata to the east in the remaining holes of the Phase 3 drill program (shown in Figure 1 by the yellow arrows).

Figure 1 The locations of the Phase 3 drilling in June, showing 

  • Significant holes from Phase 2 in yellow diamonds, and
  • Completed Phase 3 holes as square targets 
  • SDRC 20 and 68 in yellow boxes with extension target holes as triangles
  • Both zones open at both ends

Next Steps

The Phase 3 drilling program is scheduled to resume this month, and further results will be released when available. The remainder of the program will focus on the extensional drilling designed to expand the Slate Dam gold system (as outlined in ASX announcement, 1June 2018) and infill drilling of the target areas along strike of drill holes SDRC20 and SSRC68, which both host significant broad zones of gold mineralisation – see yellow boxed areas in Figure 1.

The Company also advises 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.

Click here to view the full announcement

SULPHIDES INTERSECTED IN FIRST HOLE OF PHASE 3 DRILLING AT SLATE DAM GOLD PROJECT

ASX Announcement 12 June 2018 


HIGHLIGHTS 

  • Aruma has intersected strong zones of sulphide-carbonate alteration over a 26m zone in the first hole (SDRC64) of its Phase 3 drilling at Slate Dam 
  • The sulphide-carbonate alteration – present as pyrite-ankerite – is a strong indicator gold mineralisation and demonstrates the sediment hosted mineralising system at Slate Dam 
  • Pyrite also identified in a further 7 holes in the current program 
  • SDRC64 is situated in the northern drill-defined shoot at Slate Dam adjacent to a high grade 16.6g/t Au rock chip sample 
  • Aruma’s Phase 3 drilling comprises 25 RC holes for 3,000m and is designed to expand the Slate Dam gold mineralised system and test for repetitions of mineralisation to the east and west 
  • Program expected to be completed this month and results to be released when available – first assays sent for laboratory analysis

Aruma Resources Limited (ASX: AAJ) is pleased to announce that it has intersected sulphide mineralisation in the first hole of its Phase 3 drilling program currently underway at the Company’s 100%- owned Slate Dam Gold Project in the Eastern Goldfields of Western Australia.

The Company is undertaking a reverse circulation (RC) drilling program of approximately 3,000 metres across a total of 25 holes (with planned drilling depths of up to 150 metres). Drilling is 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 advises that it has completed 1,894 metres of drilling in 16 holes in the current program to date. Drilling has delivered highly encouraging initial observations with significant sulphidecarbonate alteration, in the form of pyrite-ankerite, intersected over 26 metre zone in the first hole (SDRC64) - and pyrite has also been identified in a further seven of the sixteen completed holes to date.

SDRC64 is situated in the northern drill-defined shoot discovered in Aruma’s Phase 1 drilling program, adjacent to a very high grade rock chip sample of 16.6g/t gold returned from the Company’s geochemical rock chip sampling program completed in December 2017 (ASX announcement, 15 February 2018).

Sulphides with carbonates represent a key indicator of the presence of gold mineralisation style alteration. The sulphide-carbonate alteration encountered in hole SDRC64 is significant as it was present in previous holes which intersected the mineralised system at Slate Dam, which is situated within the major high tenor (>200ppb gold) gold anomaly defined over an area of 7km2.

The current phase of drilling is expected to be completed in June, and the first batch assays have already been sent for laboratory analysis. The results will be released as they become available.

Click here to view the full announcement 



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