Aruma Resources (ASX:AAJ) is gearing up to conduct a targeted diamond drilling program at its Salmon Gums Project in Western Australia.
The company says in its latest quarterly report the drilling is planned to follow up on previous ‘bonanza’ gold results from drillhole SGRC039, which returned 5m @ 50.2g/t au.
The program is also designed to test the structure of the ‘very high-grade’ gold mineralisation around this intersection with the view to refine Aruma’s geological and structural model for the Salmon Gums Project and support the definition of targets for further drilling to extend this gold zone.
Aruma notes that its recently completed auger sampling program conducted at the project uncovered the potential for new gold prospects, with multiple rare earth element (REE) soil anomalies also detected.
Meanwhile, at the Carter Well Gold Project, Aruma has planned an initial field sampling program as the first-pass exploration for the project. The company notes no on-ground exploration was conducted at the project during this past quarter.
During this past quarter, Aruma completed a placement to raise $2.3 million to help fund ongoing fieldwork programs.
Aruma closed out the June quarter with $3.23 million cash at hand, according to the quarterly report.
The Salmon Gums Project is located 300km south of Kalgoorlie in Western Australia and covers a total area of about 360km-square.
Aruma Resources is an ASX-listed mineral exploration company focused on the exploration and development of a portfolio of prospective gold and lithium projects located in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Aruma Resources Ltd