Total
0
Shares
Aurumin (ASX:AUN) - Managing Director, Brad Valiukas
Managing Director, Brad Valiukas
Source: Brad Valiukas/LinkedIn
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Aurumin (AUN) intersects up to 153.5 grams of gold per tonne (g/t) at the Lightning deposit within its Mt Dimer Project in Western Australia
  • The company completed a reverse circulation program early last month which has yielded positive results
  • Other high grades include 54.8g/t gold over one metre from the LO3 deposit and 4.4g/t gold over two metres at the T12 prospect
  • Aurumin plans to recommence drilling next month to follow up on the high-grade results and increase the value of the Mt Dimer project
  • Company shares are up 42.4 per cent to trade at 23.5 cents at 12:10 pm AEST

Aurumin (AUN) has received high-grade results from reverse circulation (RC) drilling at its Mt Dimer Project in Western Australia.

The company began 2500 metres of drilling in mid-July and completed the program in early August. Drilling targeted seven deposits and prospects to gain a better understanding of the overall project.

The best results from this program came from one hole at the Lightning deposit and includes four metres at 48.69 grams of gold per tonne (g/t) from 104 metres including one metre at 153.5g/t gold from 106 metres.

Managing Director Brad Valiukas was pleased with the result as it was the best intersection Aurumin has reported to date.

“This is a tremendous intercept at the historically high-grade Mt Dimer production centre,” he said.

Additional high-grades came from the LO3 deposit and T12 prospect.

Best results from LO3 include five metres at 19.26g/t gold from 61 metres and one metre at 54.8g/t gold from 62 metres.

Results from the T12 prospect include four metres at 2.76g/t gold from 15 metres, including two metres at 4.02g/t gold from 16 metres and eight metres at 2.58g/t gold from 22 metres, in turn including two metres at 4.4g/t gold from 26 metres.

“These latest results both extend known mineralisation and progress T12 towards being declared a new deposit, further supporting our view of Mt Dimer having potential for multiple high-grade open pits,” the company said.

Aurumin plans to recommence drilling next month to follow up on the high-grade results and increase the value of the Mt Dimer project.

Company shares were up 42.4 per cent to trade at 23.5 cents at 12:10 pm AEST.

AUN by the numbers
More From The Market Herald
Sunrise Energy Metals (ASX:SRL) - CEO, Sam Riggall

" Sunrise Energy Metals (ASX:SRL) awarded major project status at Sunrise

Sunrise Energy Metals (SRL) has been awarded Commonwealth Government Major Project Status for its Sunrise Battery Materials Complex in NSW.
White Rock Minerals (ASX:WRM) - CEO & Managing Director, Matthew Gill

" White Rock Minerals (ASX:WRM) eyes $11m for Woods Point

White Rock Minerals (WRM) is set to undertake an equity raising to raise approximately $11 million.
Metalicity (ASX:MCT) - CEO and Finance Director, Justin Barton

" Metalicity (ASX:MCT) hits 77.4g/t east of Leipold

Metalicity (MCT) has intersected up to 77.4 grams of gold per tonne (g/t) 200 metres east of the Leipold Lode within the Leipol…

" Manhattan Corporation (ASX:MHC) shares spike on gold assays from Tibooburra

Manhattan Corporation’s (MHC) shares spiked after releasing