Join our daily newsletter At The Bell to receive exclusive market insights
Aruma Resources Ltd (ASX:AAJ) has picked up copper intercepts grading more than 11% at the Piper prospect of its Fiery Creek Copper Project in Queensland.
Initial surface sampling along 600 metres of strike at the prospect returned results of 11.83%, 11.53%, 9.95%, and 9.53% copper, while antimony values of 10,883 parts per million (ppm), 2,305 ppm and 2,035ppm were also found, alongside high-grade silver assays up to 31.3 grams per tonne.
Aruma has used soil sampling data to show that there is strong copper anomalism across the Fiery Creek project, even beyond the targets of Piper and Fiery Creek, and this impression is boosted by historical results which showed high-grade copper rock chip samples, such as 36%, 25.4%, and 15.2% copper.
The company intends to run a detailed ground gravity surveys this month to better define drill targets, and this will be followed by an IP survey at the Piper prospect in October.
Managing director Glenn Grayson said the early-stage results had proven promising for the play.
“The multiple high-grade copper results, along with the silver and antimony mineralisation returned at the Piper target from our initial surface sampling program provide early confirmation of the Fiery Creek Project’s exploration potential,” he said.
“These results, in conjunction with historic exploration results, help provide key base-line data for our next phase of field work.
“Ground-based geophysical surveys are planned in the coming weeks, with the aim of defining targets for a maiden drilling program.
At 10:22 AEST, Aruma shares were trading at 2.9 cents – a rise of 81.25% since the market opened.
-1200x645-380x200.jpg)
