- Aurumin (AUN) commences pre-development activity at its high-grade Mt Dimer gold project in Western Australia
- Historically, Mt Dimer has produced more than 125,000 ounces of gold, including open pit and underground production of 600,000 tonnes at 6.4 g/t gold
- The company has planned two phases of development, with phase one comprising the proposed mining of shallow open pits at the high-grade Lightning and Golden Slipper deposits
- Phase two will include expansion of mining beyond phase one, including cutbacks on the deposit and the potential development of the LO3, T12, Karli West, Frodo and Anomaly 2 deposits
- AUN shares last traded at 2.6 cents at 10:22 am AEST
Aurumin (AUN) has commenced pre-development activity at its high-grade Mt Dimer gold project in Western Australia.
Historically, Mt Dimer has produced more than 125,000 ounces of gold, including open pit and underground production of 600,000 tonnes at 6.4 grams per tonne (g/t) gold.
The company reported the Mt Dimer deposits – Lightning and Golden Slipper – are located on granted mining leases, with access to nearby infrastructure.
Aurumin aims to carry out two phases of development, with phase one having already kicked off.
Phase one includes the proposed mining of shallow open pits at the high-grade Lightning and Golden Slipper deposits.
Recent drilling at the Lightning deposit struck 10 metres at 20.22 g/t gold.
At the Golden Slipper deposit, the company plans to drill to the south of a small open pit that was mined in the 1990s to a depth of 63 metres where 67,000 tones at 3.4 g/t gold for 7325 ounces was extracted.
Phase two operations include expansion of mining beyond phase one, including cutbacks on the deposit and the potential development of the LO3, T12, Karli West, Frodo and Anomaly 2 deposits.
Aurumin Managing Director Brad Valiukas said it was the right time to kick off pre-development at Mt Dimer.
“The gold price remains very healthy and we have the Mt Dimer project, with the small, but high-grade, Lightning and Golden Slipper deposits,” he said.
“We have a significant amount of capital in the ground, and it’s appropriate for us to realise a return on that investment and generate value for shareholders.”
Mr Valiukus added that it would be able to carry out these activities in parallel with exploration elsewhere, including its Sandstone gold project in Western Australia.
AUN shares last traded at 2.6 cents at 10:22 am AEST.