Aruma Resources (ASX:AAJ) is maintaining the flow of exploration across its suite of gold, lithium, and rare earth element (REE) projects in Western Australia after a rewarding December quarter.
On 18 December, the company reaffirmed the potential for its Saltwater Project of hosting a multi-commodity mineralised system after posting the highest-grade REE grades to date, as reported by Mining.com.au.
Results, generated from an ongoing systematic soil sampling program, demonstrated surface rock sampling results up to 1,777.5 parts per million (ppm) total rare earth oxides (TREO), including 752.2ppm neodymium-praseodymium (NdpR).
During the past quarter, Aruma received results from a 7-hole diamond drilling program at its Salmon Gums Gold Project, which confirmed the presence of a ‘high-grade’, gold-bearing structure.
According to the company, results from the diamond drilling returned gold grades up to 10.5 grams per tonne (g/t). Drilling was designed to follow up a ‘bonanza’ gold zone of 5m @ 50.2g/t Au from 42m.
In its latest quarterly report released today (24 January 2024), Aruma notes first pass drilling begun at the Carter Well Gold Project to test a potential now greenstone belt, targeting gold and nickel-copper pathfinder mineralisation.
The company states auger drilling provides a cost-effective and highly effective means of helping delineate potential anomalies within the unexplored project area. A total of 1,298 samples are planned to be collected as part of the drilling program.
Meanwhile, Aruma states it is continuing planning for the next phase of diamond drilling at its Mt Deans Lithium Project, where it is hoping to provide core for detailed metallurgical work.
During the previous quarter the company submitted a program of work ahead of the proposed drilling program.
Aruma closed the December quarter with $2.154 million cash at hand. Subsequent to quarter end, the company received a research and development (R&D) tax incentive refund of $1.147 million.
Aruma Resources is a minerals explorer focused on the exploration and development of a portfolio of prospective gold and lithium projects located in major, mineralised belts in Western Australia.
Write to Adam Drought at Mining.com.au
Images: Aruma Resources
