- Junior explorer Aruma Resources (AAJ) unveils “exceptional” gold hits from a maiden drilling program at its Salmon Gums project in WA’s Eastern Goldfields region
- The latest round of drill results included multiple bonanza-grade intersections from one hole including five metres at 50.2 grams per tonne gold from 42 metres
- Managing Director Peter Schwann says the discovery points to Salmon Gums’ potential to host multiple high-grade gold quartz vein and lode-style orebodies
- Aruma says it will plan its next phase of drilling at Salmon Gums once all assays from the maiden program have been received and interpreted
- Shares in Aruma Resources are up 15.29 per cent to 9.8 cents each at 11:19 am AEDT
Aruma Resources (AAJ) shares have spiked after the company unveiled “exceptional” gold hits from a maiden reverse circulation (RC) drilling program at its Salmon Gums project in WA’s Eastern Goldfields region.
The multiple bonanza-grade drill results from one hole included five metres at 50.2 grams per tonne gold from 42m containing a 3m interval weighing in at 83 g/t and a one-metre zone at 224 g/t.
Aruma said the wide-spaced RC holes across an interpreted strike length of 20 kilometres at Salmon Gums encountered quartz vein gold and lode-style gold mineralisation consistent with the its sediment-hosted gold exploration model.
“These bonanza and high-grade gold intersections clearly demonstrate the Salmon Gums project’s potential to host multiple high-grade gold quartz vein and lode-style orebodies
similar to the high-grade Norseman and Scotia deposits, situated directly along strike in the
same stratigraphy,” Managing Director Peter Schwann said.
“That we have been able to define this discovery in our very first phase of what was a wide-spaced drilling program at Salmon Gums is a testament to the company’s sediment-hosted gold model and the prospectivity of the project area, and it highlights the further upside potential to be derived from our next phase of drilling.”
Aruma said assays from the final 12 holes of the maiden program were pending and its next phase of drilling in the Salmon Gums area would be planned once they were interpreted.
The company’s maiden drilling program at the project comprised 72 RC holes totalling 6,243m.
According to the junior explorer, gold mineralisation has now been delineated over a strike length of more than 4.3km at Salmon Gums and remains open at both ends and at depth.
AAJ shares were trading 14.1 per cent higher at 9.7 cents at 1:19 pm AEDT.