- Aurumin (AUN) releases a mineral resource estimate for its wholly owned Johnson Range Project in Western Australia
- Johnson Range comprises six square kilometres of granted tenements and contains the shallowly mined Gwendolyn deposit
- The JORC-compliant inferred resource measures 803,000 tonnes at 2.51 grams of gold per tonne (g/t) for 64,700 ounces and has a cut-off grade of 1g/t gold
- The company is expecting to release the first assays from drilling completed at Mt Dimer within the next week
- Shares have closed down 2.86 per cent at 17 cents on August 25
Aurumin (AUN) has released a JORC-2012-compliant mineral resource estimate for its wholly owned Johnson Range Project in Western Australia.
Johnson Range comprises six square kilometres of granted tenements and contains the shallowly mined Gwendolyn deposit.
AUN said the project’s mineral resource estimate was completed following extensive data validation and on-ground survey work.
Accordingly, the inferred resource measures 803,000 tonnes at 2.51 grams of gold per tonne (g/t) for 64,700 ounces.
Further, the resource has been reported at a cut-off grade of 1g/t gold, within 100 metres of natural ground surface, to allow for potential haulage and processing costs.
Aurumin’s managing director Brad Valiukas said he was pleased to see the mineral resource for the company’s third project completed.
“We will now look at ways that we can extract value from the ounces we have in the ground,” he said.
“We expect to be releasing first assays from the recently completed Mt Dimer drilling within the next week.”
The Johnson Range Project lies some 170 kilometres north of Southern Cross and six kilometres northwest of the historical Evaston Mine, which is owned by fellow ASX player Ramelius Resources (RMS).
Aurumin shares closed 2.86 per cent in the red at 17 cents on August 25, 2021.