Gold explorer Aurumin (ASX: AUN) has announced its delight at encountering multiple quartz intersections while drilling at its wholly-owned Mt Dimer gold project in Western Australia.
The company kicked off a 5,000m reverse circulation drilling program at the historic project last month, aiming to define the existing high-grade Lightning and Golden Slipper deposits. It also tested eight out of 13 primary targets that were generated by a ground-based sub-audio magnetic (SAM) survey in 2020, as well as one target bordering the survey.
Aurumin today advised the market it has completed 59 holes for a total 5,009m with all initial samples dispatched to the laboratory. Assay results are expected to be received progressively from mid-April.
According to the company, the drilling campaign produced multiple quartz intersections at approximate targeted positions. Quartz intersections are located within the granodiorite host rock, with varying amounts of dolerite and gabbro in line with historical open pits.
Aurumin managing director Brad Valiukas said the company is “extremely pleased” with what it has observed so far in the drilling.
“There are quartz bearing structures located where expected and assay results are pending.
“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,” he added.
Mt Dimer historical production
Located 120km northeast of the WA town of Southern Cross, the Mt Dimer mine produced more than 125,000 ounces of gold while in operation during the 1990s.
Comprising six open pits and an underground operation, the mine processed about 600,000 tonnes of ore grading at 6.4 grams per tonne of gold before production ceased in 1997.
The Lightning deposit and extensions to the Golden Slipper open pit were defined, but not mined, by previous operators.
Aurumin listed on the ASX in December after raising $7 million through a fully subscribed initial public offering to fund its exploration activities and actively pursue further acquisitions.