Assays from a March drilling campaign at Aurumin’s (ASX: AUN) Mt Dimer project in Western Australia have confirmed gold mineralisation on multiple new structures.
The campaign aimed to test eight of 13 primary targets generated by a ground-based sub-audio magnetic (SAM) survey conducted last year and analogous to current known mineralisation, plus one target bordering the survey boundaries.
The targets were primarily based on northerly trending structures in lower conductivity (higher resistivity) positions, interpreted to be granodiorite, and further supported by mapping and existing geochemistry.
The latest results were taken from reverse circulation work and identified multiple zones of quartz at approximate targeted positions within the historic project, located 120km from Southern Cross.
Highlights were 4m at 3.6 grams per tonne gold from 95m, including 1m at 9.73g/t; 3m at 2.71g/t from 61m, including 1m at 6.21g/t from 62m; and 1m at 4.33g/t from 78m.
Assays are still in progress for a further three drill lines testing the SAM targets and drilling at the nearby Golden Slipper deposit.
Aurumin managing director Brad Valiukas was happy with progress at Mt Dimer, with the program confirming targeted structures and intersecting extensive gold mineralisation.
”We can now move to the next phase, where we will test along the identified structures rather than the wider spaced drill lines,” he said.
“Our view is that Mt Dimer has considerable upside and the potential for multiple open pits, in addition to the known high-grade Lightning and Golden Slipper deposits.”
Aurumin considers Mt Dimer to be a historic high-grade asset, having produced over 125,000 ounces of gold, including open pit and underground production of 600,000t at 6.4g/t gold.
The project was discovered in 1987 by Western Mining Corporation and mined by Tectonic Resources from 1994 to 1997.
At the time of last commercial production, the gold price was less than $500/oz.