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- Aruma Resources (AAJ) is set to begin a 5000-metre reverse circulation drilling program at its Saltwater Gold Project in the Pilbara region of WA
- The project includes eight tenements and, as of this month, Aruma owns all eight holdings
- Ahead of the program, fieldwork identified priority drilling targets — including a 60-square kilometre anomaly
- Additionally, Aruma has completed studies and signed relevant agreements to begin exploration at its Melrose Project
- Now, the company is just waiting on a grant for exploration licences
- Aruma is also engaging with local communities to conduct exploration at the Capital gold project area in New South Wales
- Aruma is up 14.3 per cent and shares are trading for 0.8 cents in early morning trade
Aruma Resources (AAJ) is set to begin a 5000-metre reverse circulation (RC) drilling program at its Saltwater Gold Project in the Pilbara region of Western Australia.
The Saltwater Gold Project comprises eight tenements which collectively cover 736 square kilometres. As of October 14, the company has officially been granted all eight holdings.
Before the program could begin, Aruma conducted initial fieldwork, which included mapping and sampling at the Saltwater Ring Structure target. This priority target is a large, 60-square-kilometre magnetic anomaly.
Aruma has submitted a program of works to the Department of Mines, Industry Regulation and Safety (DMIRS) to begin drilling this quarter.
As announced last month, the company signed heritage and survey agreements which are in place for the Saltwater Project.
Drilling is aimed at identifying the stratigraphic and alteration controls of existing mineralisation, as well as assisting in the definition of future drilling targets.
Progress at other projects
Melrose
Aruma Resources has also announced mineral mapping and aster conductivity studies have been completed at the Melrose Project. Like Saltwater, Melrose comprises eight tenements and covers 216 square kilometres. The project also sits adjacent to Northern Star Resources’ (NST) Paulsens Gold Mine.
Pleasingly, the studies have confirmed the presence of the interpreted alteration and conductivity anomalies.
So far, heritage agreements have been signed and Aruma is waiting for the exploration licences to be granted. Once this has been finalised, it will commence on-ground exploration to initially target a number of significant magnetic anomalies.
Scotia South
The Scotia South Project covers 217 square kilometres and is located on a 20-kilometre strike extension of the prospective stratigraphy magnetic signature that hosts Pantoro’s (PNR) Panda gold discovery.
Pantoro identified zones at Scotia which define three separate shale-hosted lodes and these contain multiple gold intersections over 20 metres.
Capital
Earlier this month, Aruma conducted engagement meetings with local communities near the Capital gold project area in New South Wales.
The meetings included discussions of potential exploration activities which may impact the communities.
Once leases are granted, Aruma intends to follow-up on these meetings to proceed with exploration.
“Aruma is well funded with some $4 million in cash and receivables, including
$160,000 due in the next round of R&D tax credits. This together with a new Exploration Manager will allow us to aggressively explore and evaluate our strategically located gold project portfolio, resulting with drilling to define potential resource targets,” Managing Director Peter Schwann said.
Aruma is up 14.3 per cent and shares are trading for 0.8 cents in early morning trade.
