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

" TechGen Metals (ASX:TG1) completes maiden RC drill program at John Bull

TechGen Metals (ASX:TG1) has completed its maiden exploration reverse circulation (RC) drilling program at its John…
Golden Rim Resources (ASX:GMR) - Managing Director, Craig Mackay

" Sale of Golden Rim Resources’ (ASX:GMR) Burkina Faso Gold assets falls through

Golden Rim Resources (ASX:GMR) has lost the potential to make $22.3 million after a deal to…

" Caprice Resources (ASX:CRS) intersects shallow gold at Island Gold Project

Caprice Resources (ASX:CRS) intersects shallow gold mineralisation at its first reverse circulation drilling program at the…

" Heavy Minerals (ASX:HVY) receives “favourable” metallurgy results for Port Gregory

Heavy Minerals (ASX:HVY) has received "favourable" metallurgical results from IHC Mining for its Port Gregory Garnet…