Western Australia gold explorer Aurumin Limited (ASX: AUN) has intersected 7m of gold at 7.55 grams per tonne, with the company declaring it is “one of the best unmined results to date”.
The intercept was made at the Golden Slipper prospect, part the company’s historic Mt Dimer project, located 120km northeast of Southern Cross.
Golden Slipper was mined in the 1990s and produced 125,000oz of gold at 6.4g/t and the company has been drilling to expand the mining footprint north of the old workings.
This latest 7m intercept included a 1m interval grading 30.25g/t.
This was among the last assays from the reverse circulation drilling at its 100%-owned project.
Another intersection was 5m at 2.74g/t.
Intercept ‘potentially expands the mining footprint’
Managing director Brad Valiukas said the 7m intersection is “a great drill result at Golden Slipper that potentially expands the mining footprint to the north.”
“This Golden Slipper result is indicative of what we will now be exploring for along the mineralised structures identified from the SAM [sub-audio magnetic] survey targets,” he added.
Aurumin completed reverse circulation drill holes for 326.5m at Golden Slipper that were designed to intercept northerly trending structures along strike and down dip from historical work.
All holes intersected the structure which comprise massive quartz veins.
However, there were no further significant assay results from the remaining three drill lines testing the SAM targets.
Previously released assays include 4m at 3.6g/t, 3m at 2.71g/t and 1m at 4.33g/t.
In April, Aurumin reported drilling at the previously unmined Lightning prospect which included one hole that intersected two separate mineralised zones.
The first assayed at 16m at 4.44g/t, including 1m at 12.35g/t, and then another zone was intersected over 3m at 15.35g/t, including 1m at 36.2g/t.
Golden Slipper mined during depressed gold price
Mt Dimer is a historic gold operation that was discovered in 1987 — the year of the huge market crash that sidelined many mining projects — by the former major Western Mining Corporation.
It was subsequently mined by Tectonic Resources between 1994 and 1997, when the gold price varied between US$300 and US$500 per ounce.
Mt Dimer can be accessed from the Great Northern Highway and has an operational airstrip.
Aurumin also owns the Mt Palmer gold project, 15km from Marvel Loch in Western Australia.
It is also includes historic mine, having been worked between 1934 and 1944, during which time it produced 158,000oz at an average 15.9g/t.