Rock chip sample returns up to 16.6g/t gold for Aruma, drill results pending

Early exploration at Aruma Resources’ (ASX: AAJ) Slate Dam project in Western Australia has produced gold grading up to 16.6 grams per tonne from a rock chip sample.

A rock chip sampling program was carried out along the edge of Lake Yindarlgooda – a long strike from a recently announced drill intercept of 5m grading 3.78g/t.

Of the 21 samples taken, one assayed at 16.6g/t, another graded 6.71g/t, and a third returned 0.55g/t gold.

According to Aruma, its presence confirms gold mineralisation extends along strike from the recently reported 5m drill intersection.

Meanwhile, 750 soil samples were collected in December last year, with a peak value of 0.32g/t gold.

Other gold anomalies greater than 0.01g/t were identified in the soil, which Aruma claims demonstrates the anomaly is in the soil and not just a single gold particle.

“The most important aspect of these results is the success of the geochemical technique to define trends that will allow a relatively fast and cost-effective drill target definition technique at Slate Dam and also the nearby Beowulf gold project,” Aruma managing director Peter Schwann said.

Other drill intersections from the maiden 40-hole campaign that were reported earlier this month included 7m grading 2.1g/t gold, 16m grading 1.34g/t gold, and 2m grading 4.2g/t.

The company stated 95% of the drill holes struck gold with 60% of the assays due by the end of the month.

Aruma claims the 7 square kilometre gold anomaly it identified is comparable to those found at other major gold mines in the region including Tropicana and Bronzewing.

AngloGold Ashanti Australia owns 70% of Tropicana, with Independence Group retaining the 30%. The mine was brought into production in 2013 and produced 417,000 ounces of gold in 2016.

Echo Resources currently owns the mothballed Bronzewing mine and processing operations after it merged with Metaliko in 2016. Metaliko had purchased the project from Navigator Resources who placed the mine on care and maintenance in 2013 after the lower grade ore and high labour costs made the mine uneconomic. However, during the 1990s the mine gave up 1moz of gold.

In addition to its latest exploration results, Aruma has applied for a new exploration licence for the project, which, once granted, will boost the company’s Slate Dam project area to 280 square kilometres in WA’s eastern goldfields.

Historic drilling at Slate Dam returned 47.5m at 0.5g/t gold, 19m at 1.08g/t gold and 38m @ 0.66g/t gold.

Aruma closed the day in the green at A$0.027 – up almost 30%.