Aruma Resources (ASX:AAJ) - Managing Director, Peter Schwann
Managing Director, Peter Schwann
Source: The Market Herald
Market Herald logo


Be the first with the news that moves the market
  • Aruma Resources’ (AAJ) maiden drilling program intersects high-grade lithium and rubidium at its Mt Deans Project in WA
  • All eight holes completed so far have reportedly returned lithium grading above 0.5 per cent, and defined a 25-metre thick pegmatite
  • The drilling effort has also defined an interpreted strike length of at least 1,500 metres which remains open
  • Aruma says the results will be used to complete the remaining 1,800 metres of the drilling program
  • Company shares have fallen 32.4 per cent to trade at 12.5 cents

Aruma Resources (AAJ) has received assays from a maiden drilling program at its Mt Deans lithium project in Western Australia.

Under the first phase of the reverse circulation (RC) program, Aruma completed eight holes for 1,156 metres to target what has been dubbed the ‘main section’ of the Mt Deans project.

Drilling defined a 25-metre thick vertical pegmatite, with lithium grades peaking at 1.14 per cent.

The company said the program returned 13 intersections grading higher than 0.5 per cent lithium from all eight holes, and also returned high-grade rubidium up to 1.05 per cent, with elevated tin, tantalum and caesium.

Among the best results were grades including one metre at 1.14 per cent lithium from 36 metres within a wider zone of 10 metres at 0.62 per cent lithium and 0.57 per cent rubidium from 22 metres.

Drilling also defined an interpreted strike length of at least 1,500 metres, which remains open at both ends.

Aruma said the rubidium grades could potentially add significant value to the project.

“The Mt Dean pegmatite is showing zonation with lithium grades up to 1.14 per cent, and rubidium assays up to 1.05 per cent which is high-grade, and our future work will target Mt Deans as a multi metal asset,” Managing Director Peter Schwann said.

“This represents just the start of exploration at Mt Deans, and based on these results, we will move quickly to undertake the remaining approximately 1,800 metres of the maiden drilling campaign.”

The maiden RC drilling effort is continuing, with another 12 holes for 1,800 metres to be completed.

Company shares fell 32.4 per cent to trade at 12.5 cents at 11:01 am AEST.

AAJ by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…