Aruma Resources (ASX:AAJ) is doubling down on a second phase of REE-focused aircore drilling over Q2 2024 to better define anomalism and assess the resource potential of its Salmon Gums Project in Western Australia.
The $3.15 million market capitalisation company says this next phase of drilling seeks to uncover multiple zones of ‘high-grade’ ionic clay REEs from recently completed first-pass drilling.
Surface sampling of exposed ionic clays has also returned the highest REE result in the area to date; 8,700 parts per million total rare earth oxide (TREO), with high-value neodymium plus praseodymium oxides representing 22.5% of TREO grade.
Results from the recently uncovered REE zones include grades up to 933ppm, 904ppm, and 770ppm, respectively.
REE drilling also confirms a northern extension of recent REE discoveries by Meeka Metals (ASX:MEK) and OD6 Metals (ASX:OD6) in the region.
According to Aruma, 2 of the 3 anomalous ‘high-grade’ REE zones identified are coincident with OD6’s REE discovery, highlighting the ionic clay REE potential within the region.
Drilling consisted of 39 drillholes which tested for REE-enriched clays at the Circle Valley North target.
Aruma Resources Managing Director Glenn Grayson says the results, coupled with the highest grade ionic clay REE reported in the region to date, highlights the largely untested REE potential of Salmon Gums.
“It appears that the higher grade mineralisation extends further onto our project area, which enhances the potential for it to host extensive REE mineralisation.”
The Salmon Gums project comprises 3 exploration licences over a total area of 360km-square about 200km south of the major regional centre of Kalgoorlie and 60km south of Norseman.
Aruma Resources is a mineral explorer focused on the exploration and development of a portfolio of prospective gold and lithium projects in major, active mineralised belts in Western Australia.
As of December 2023, the company had $2.154 million cash at hand, according to its latest quarterly report. Although, subsequent to quarter end, Aruma received a research and development tax incentive refund of $1.147 million.
Write to Adam Drought at Mining.com.au
Images: Aruma Resources
