Slate Dam gives up more gold for Aruma Resources
RC drilling at Aruma Resources’ Slate Dam project in Western Australia.
Aruma Resources (ASX: AAJ) has uncovered more gold at its Slate Dam project in Western Australia’s eastern goldfields.
The company received its final drilling results which include a 24m intersection grading 1.04 grams per tonne gold, with a 16m interval containing 1.35g/t gold.
Other better intersections were 5m at 3.79g/t, 7m at 2.05g/t and 4m at 2.19g/t.
Between December last year and January, Aruma completed 40 holes of reverse circulation drilling, with mineralisation intercepted in 34 holes.
According to the Aruma, the drilling campaign has defined a large-scale gold system at the project, with two gold shoots extending about 500m each to the north and south and remaining open in all directions.
The company claims gold mineralisation extends from the surface and is 20m thick in some zones and remains open at depth.
“Previous historical diamond holes at the project area include 21m at 1.06g/t from 209m and 19m at 1.08g/t gold from 152m,” Aruma managing director Peter Schwann said.
“These intersections when combined with the Aruma holes were critical to unlock the thick stratabound shallow dipping shoots that are the first blocks in the Slate Dam puzzle,” Mr Schwann added.
He also noted the shallow and wide intersections indicated the project could be potentially developed into a “large scale, open pit” operation.
The company will now plan its next drilling campaign, which will focus on new targets and geochemical anomalies that were identified to the north of previous drilling.
Earlier this month, Aruma reported rock chip samples that were taken from along the edge of Lake Yindarlgooda, within the project, had assayed up to 16.6g/t gold.
Aruma claimed the samples confirmed that gold mineralisation extended along strike from a previously announced drill intercept of 5m grading 3.78g/t gold.
Despite a run in the first half of the day, which saw Aruma’s stock price soar 13% to A$0.034 by early afternoon trade, the stock slid more than 10% too sit at A$0.027 in mid-afternoon.