Total
0
Shares
Aruma Resources (ASX:AAJ) - Managing Director, Peter Schwann
Managing Director, Peter Schwann
Source: The Kalgoorlie Miner
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Aruma Resources (AAJ) has identified highly anomalous gold at its Melrose Gold Project in the Pilbara region of Western Australia
  • The positive results have been compiled from historical exploration results from drilling completed by NuStar Mining
  • Historical drilling intersected multiple broad zones of anomalous gold mineralisation at the Gossan Hills target
  • The results also uncovered a significant 500 by 120 metre geochemical soil anomaly exploration target
  • Aruma ended the day 20 per cent in the red with shares trading at 0.4 cents each

Aruma Resources (AAJ) has identified anomalous gold at its Melrose Gold Project in the Pilbara region of Western Australia.

Specifically, the anomalous gold results have been identified at the Gossan Hills target within the Melrose Project and is located just 5.5 kilometres north of Northern Star Resources’ (NST) Paulsens Gold Mine.

The structural corridors that control the mineralisation at Paulsens appear to continue into Aruma’s Melrose Project area.

Paulsens is strategically situated in a three million ounce gold camp and most production has come from multiple lodes at the Paulsen Mine. This is highly encouraging for Aruma’s Melrose Project.

Importantly, Aruma defined a priority exploration target through a substantial 500 metre by 120 metre geochemical soil anomaly.

The positive results have been compiled from historical exploration results sourced from an open file Minedex report, as part of Aruma’s first stage of project assessment and exploration targeting at the project.

Historic drilling conducted by previous tenement holder, NuStar Mining Corporation intersected 1 metre at 2.74g/t gold in hole GHC0004 and 1 metre at 1.44g/t gold in hole GHC0006.

Additionally, multiple broad zones of anomalous gold mineralisation were also intersected, within both dolomite and sandstone, including 11 metres at 0.42g/t gold in hole GHC0004 and 24 metres at 0.22g/t gold in hole GHC0006.

Aruma ended the day 20 per cent in the red with shares trading at 0.4 cents each.

AAJ by the numbers
More From The Market Herald
Venus Metals (ASX:VMC) - Managing Director, Matthew Hogan

" Venus Metals (ASX:VMC) intersects encouraging mineralisation at Vidure

Venus Metals (VMC) has intersected encouraging copper-nickel-platinum group element (PGE) mineralisation at the Vidure Prospect.

" Whitehaven Coal (ASX:WHC) uses record prices to pay down debt

Whitehaven Coal (WHC) will use the uplift

" Alderan Resources (ASX:AL8) commences drilling at Detroit

Alderan Resources (AL8) has commenced drilling at its Detroit copper gold project, located in the US state of Utah.
RareX (ASX:REE) - Managing Director, Jeremy Robinson

" RareX (ASX:REE) begins scoping study at Cummins

RareX (REE) has begun a scoping study at its flagship Cummins Range Critical Metals Project.