Company: Aruma Resources

Aruma Resources (ASX:AAJ)

  • 28 November, 2023
WRITTEN BY Adam Drought

Aruma refines maiden 2024 drill plans following Saltwater gold discovery 

Aruma Resources (ASX:AAJ) plans to define and model geochemical and geophysical targets at its Saltwater Gold Project in Western Australia ahead of a first-phase drilling program planned for 2024.

The company says it has begun a hyperspectral and machine learning study to fast-track modelling and drill targeting in preparation for the planned maiden drilling. 

Ground gravity surveys are expected to follow over the coming months to delineate targets at depth. 

These works come after Aruma today (28 November) announced it had uncovered a ‘very anomalous’ greenfield gold target at the Terceira prospect within the Saltwater area. 

The anomaly was discovered through the company’s latest phase of soil sampling over recent rock-chip anomalies and is interpreted to be coincident with a ‘large’ surface arsenic halo and geophysical magnetic anomaly. 

Aruma reports sampling has delivered ‘strong’ gold and polymetallic anomalism across 3 prospects: Terceira, Orichalcum, and Oracle.

Key results from Terceira include sample SWS0180 with 0.38 grams per tonne (g/t) Au and 356 parts per million (ppm) arsenic (As). 

Meanwhile, key results from Orichalcum and Oracle include sample SWS0102 with 1.1% manganese (Mn), 612ppm cobalt (Co), 387ppm copper (Cu), 0.37g/t silver (Ag), and 0.19% barium; and sample SWS0094 with 295ppm cerium (Ce), 160ppm lanthanum (La), and 535ppm Ba, respectively. 

The company notes heli-mapping and rock chips of the project outcrop features also expand the prospectivity of the Inkwell Ridge prospect and the greater Saltwater Basin Complex. 

Together, these results affirm Aruma’s belief that the Saltwater project has the potential to be a multi-commodity mineralised system. 

Aruma Resources Managing Director Glenn Grayson says the company will continue to pursue a systematic and targeted exploration approach at Saltwater ahead of drilling in the new year. 

Aruma Resources is a minerals explorer focused on the exploration and development of a portfolio of prospective gold and lithium projects in Western Australia. 

The company’s Saltwater Project was pegged by Aruma for its gold prospectivity in 2020 and has since emerged as a rare earth element (REE), base metals, gold, and uranium project. 

As of 30 September 2023, Aruma Resources had $2.791 million cash and cash equivalents at hand, according to its latest quarterly report.

Write to Adam Drought at Mining.com.au

Images: Aruma Resources
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.
  • 21 November, 2023
WRITTEN BY Adam Drought

Aruma readies for 2024 Salmon Gums extensional drilling

Aruma Resources (ASX:AAJ) is moving forward with geological modelling to determine the best strategy for upcoming extensional drilling in Q1 2024 at its Salmon Gums Gold Project in Western Australia. 

The $7.28 million market capitalisation company says its planned early 2024 drilling is designed to extend a ‘high-grade’ mineralised zone at Salmon Gums after identifying further ‘high-grade’ gold from a 7-hole diamond core drilling program. 

Aruma will follow up and extend previous ‘bonanza-grade’ gold intersections at the Thistle prospect. All assays have been posted, with gold mineralisation intersected in 6 of the 7 holes. 

The company notes drilling also intersected and extended a ‘very high-grade’ structure and provided the company with a complete understanding of the controlling geology. 

Aruma confirms this information will be utilised by its technical team to define the next phase of fieldwork and drilling.

Key results from the latest phase of drilling at Salmon Gums include hole SG23DD007 with 5.9m @ 10.5 grams per tonne (g/t) Au from 38.4m including 2.6m @ 9.85g/t Au from 38.4m and 0.85m @ 40.9g/t Au from 43.4m. 

The company states that the results reinforce the Thistle prospect’s potential as a ‘high-grade’ gold deposit within an underexplored area of Western Australia’s goldfields.  

Aruma Resources Managing Director Glenn Grayson says these ‘exceptional’ results validate the company’s exploration approach at Salmon Gums.

“Norseman-style mineralisation is structurally controlled and can be incredibly high-grade, and this is exactly what we are seeing at Salmon Gums, with our drilling programs continuing to deliver very high-grade gold results, which extend the high-grade mineralised zone at the project. 

“Norseman-style mineralisation is structurally controlled and can be incredibly high-grade, and this is exactly what we are seeing at Salmon Gums”

Controls on this style of mineralisation are tight, making the combination of structure within the right lithology the key to exploration success. We will now commence planning for our next phase of drilling, to further unlock the project’s value.”

Aruma Resources is a minerals explorer focused on exploring and developing a portfolio of prospective gold, lithium, and rare earth element (REE) projects in ‘major’ active mineralised belts in Western Australia. 

The company’s wholly owned Salmon Gums Project sits 200km south of the township of Kalgoorlie and comprises 2 exploration licences and one application covering a total landholding of 360km-square. 

As of 30 September 2023, Aruma Resources had $2.791 million cash and cash equivalents at hand, according to its latest quarterly report.

Write to Adam Drought at Mining.com.au

Images: Aruma Resources
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.
  • 23 October, 2023
WRITTEN BY Adam Drought

Aruma gears up for more drilling at Mt Deans

Aruma Resources (ASX:AAJ) is gearing up for a fresh round of drilling at its Mt Deans Lithium Project in Western Australia, with a program of work (PoW) sent off for approval.

The company is planning to complete a bout of diamond drilling in the project area to provide core for more detailed metallurgical testwork. Aruma, which has a $6.49 million market capitalisation, says its Conservation Management Plan for the project has been updated to align with the addition of diamond drilling. 

It comes as Aruma awaits assays from a 7-hole diamond drilling program at its Salmon Gold Gums Project and amid an ongoing soil sampling program at its Saltwater Project, both of which also lie in WA. 

Aruma dedicated its September quarter to advancing various exploration activities across its portfolio of gold, lithium and multi-commodity projects, according to its latest quarterly report released today (23 October 2023).

The company says the 7-hole program at Salmon Gums was designed to follow up previous ‘high-grade’ gold results, including 5m @ 50.2 grams per tonne (g/t) from 42m in hole SGRC039, as ​reported in September.

The assessment of the drill core indicated that drilling intersected a targeted structure that hosts the previous ‘high-grade’ gold intersection and that targeted mineralisation was encountered in 6 of the 7 holes. 

Drilling at Salmon Gums indicates the presence of a ‘significant’ pyrrhotite-pyrite-arsenopyrite-bearing quartz vein, which aligns closely with the characteristics of Norseman-style gold mineralisation. 

Aruma reports it will move forward with evaluating and modelling the available data from drilling programs in conjunction with other geological data to refine plans for further drilling designed to extend the project’s ‘high-grade’ mineralised footprint once assays are returned.  

At the Mt Deans Lithium Project, Aruma continued to progress its plans and assess opportunities to unlock the value of this ‘potentially significant’ asset. 

The project lies within the lithium corridor in southeast Western Australia, which Aruma says is host to multiple ‘significant’ hard-rock lithium projects. 

As for Saltwater, Aruma says its systematic soil sampling program so far has returned ‘significant’ rare earth element (REE) and cobalt mineralisation, as announced in July.

Key results included sample AR12232 with 1,158 parts per million (ppm) total rare earth oxide (TREO), 25% neodymium-praseodymium (NdPr)/TREO, and 21% heavy rare earth oxide (HREO)/TREO; and sample AR12291 with 1,022ppm TREO, 25% NdPr/TREO, and 27% HREO/TREO. 

The company has also identified outcropping ‘high-grade’ polymetallic samples and sandstone-hosted vanadium and uranium surface anomalies. Further, anomalous iron-lead-zinc-arsenic demonstrates the potential for Volcanic Massive Sulphide (VMS)-style mineralisation at the project.  

The company says 30% of the project area has been covered to date and that results received so far exceed its initial projections and reinforce the project’s status as a potentially ‘significant, district-scale, and resource-abundant’ project. 

Aruma closed the September quarter in a ‘sound’ financial position, with $2.79 million in the bank. The company also announced the departure of founding Managing Director and longstanding director Peter Schwann. 

Aruma Resources is an ASX-listed multi-commodity explorer focused on the exploration and development of a portfolio of prospective gold and lithium projects in Western Australia.

Write to Adam Drought at Mining.com.au

Images: Aruma Resources
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.
WRITTEN BY Aaliyah Rogan

Aruma sets out to confirm Saltwater drill targets

Aruma Resources (ASX:AAJ) is planning a heli-mapping and grid surface sampling program this month to confirm initial drill targets at its Saltwater Project in Western Australia. 

This phase of exploration will include systematic gridding over defined anomalies, alongside further mapping and sampling of geophysical and structural targets and specific geophysics over target zones. 

Aruma, which has a market capitalisation of $6.3 million, says this targeted exploration approach aims to unlock the full multi-commodity potential of the Saltwater Project. 

This news comes after the company received results from the latest phase of an ongoing sampling program, which has reaffirmed the multi-commodity mineralised system potential. 

Surface sampling has revealed outcropping ‘high-grade’ polymetallic samples, including AR14069 with 40% manganese (Mn), 5.4% barium (Ba), 0.36% cobalt (Co), 0.25% copper (Cu), and 3.53g/t silver (Ag). 

Aruma reports sandstone-hosted vanadium (V) and uranium (U) surface anomalies were also detected, with AR13010 containing up to 0.16% V and AR13051 containing up to 39 parts per million (ppm) U. 

The programs have also confirmed the existence of ‘large-scale’ volcanogenic massive sulphide (VMS) systems, with elements including iron (Fe), barium, copper, lead (Pb), zinc (Zn), and arsenic (As).

These results include AR14009 containing 57% Fe, 0.42% As, and 0.27% Zn; and AR14010 containing 42% Fe, 0.12% As, and 0.26% Zn.

Both programs have exceeded the company’s projections and reinforce Saltwater’s status as a potentially ‘significant’, district-scale, resource-abundant project, according to Aruma. 

Aruma Resources Managing Director Glenn Grayson says these results are ‘highly encouraging’ and confirm the company’s technical team’s ability to consistently pull out ‘positive’ results from the fieldwork. 

“Based on results to date, we are confident in our view that we have identified a high-value target for battery-grade manganese-cobalt, multiple VMS targets, as well as a promising uranium prospect.”

“we are confident in our view that we have identified a high-value target for battery-grade manganese-cobalt, multiple VMS targets, as well as a promising uranium prospect”

The Saltwater Project lies in the Pilbara region of Western Australia and covers a 450km-square area. 

Aruma Resources is a diversified minerals explorer focused on discovering and developing projects prospective for gold and lithium. The company’s core assets include the Mt Deans Lithium, Salmon Gums Gold, and Saltwater projects. 

As of 30 June 2023, Aruma had $3.23 million cash at hand, according to its latest quarterly report.

Write to Aaliyah Rogan at Mining.com.au 

Images: Aruma Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
  • 11 September, 2023
WRITTEN BY Aaliyah Rogan

Aruma begins new Salmon Gums drilling phase

Aruma Resources (ASX:AAJ) has begun the next phase of drilling at its wholly owned Salmon Gums Gold Project in Western Australia. 

The $7.08 million market capitalisation company says the drilling is designed to follow up on and extend ‘bonanza-grade’ gold intersected during Aruma’s 2022 drilling campaign. These intersections include drillhole SCRC039 with 5m @ 50.2g/t Au from 42m, alongside grades of up to 224g/t Au. 

Drilling contractor Topdrill will be carrying out the program, which comprises 7 diamond core holes. 

Aruma says the ‘high-grade’ intersection in drillhole SCRC039 will be twinned and also drilled back across sections in the current program, with multiple holes to be drilled from each drill pad. 

An additional hole will be drilled north to south, which will test for flat lodes typical of Norseman-style mineralisation. 

The drilling is expected to be completed this month, and the laboratory results will be released once made available. 

The company notes that the results of the program will be used in drill planning for future extensional drilling around this ‘exceptionally high-grade’ gold zone at Salmon Gums. 

The Salmon Gums Gold Project covers an area of 360km-square and is located 200km south of the major regional centre of Kalgoorlie in the Eastern Goldfields region of Western Australia. 

Aruma Resources is a minerals exploration company focused on the exploration and development of a portfolio of prospective gold, lithium, and rare earth elements (REE) projects. As of 30 June 2023, the company had $3.23 million cash at hand, according to its latest quarterly report.

Write to Aaliyah Rogan at Mining.com.au     

Images: Aruma Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
  • 30 August, 2023
WRITTEN BY Carolyn Rebeiro

Aruma Resources live from the Australian Gold Conference 2023: Mining Minute August 30

Aruma Resources (ASX:AAJ) Managing Director Glenn Grayson joins us live from the Australian Gold Conference 2023 in Sydney in this special edition of Mining Minute.

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Written By Carolyn Rebeiro
Joining Mining.com.au from the West Coast, finance presenter Carolyn began her journalism degree in Townsville and developed a passion for mining news after a FIFO stint in WA's Goldfields.
  • 30 August, 2023
WRITTEN BY Aaliyah Rogan

Aruma plans further Salmon Gums drilling

Aruma Resources (ASX:AAJ) is planning to use diamond core drilling to better understand the ‘high-grade’ gold recently intersected at its Salmon Gums Project in Western Australia. 

This drilling work is set to begin in September. 

At the Australian Gold Conference 2023 in Sydney, the $8.04 million market capitalisation company’s presentation highlighted the ‘bonanza’-grade gold intersected (5m @ 50.2g/t Au from 42m) from the project area, as previously announced by Aruma in July.

All up, the company has completed 11,609m of drilling in 116 holes to date at Salmon Gums. This includes 44 reverse circulation (RC) holes drilled for 5,366m over 2023 to follow up on the ‘bonanza’ gold intersections and extend gold mineralised zones at the Iris and Thistle prospects

Core drilling at the project has expanded the area of interest to a 3.5km-wide interpreted greenstone in 3+ stratigraphic zones. 

Meanwhile, at the Mt Deans Lithium Project, initial metallurgical testwork is currently underway. 

The company says the testwork aims to capture lithium and other potentially ‘valuable’ accessory minerals. 

This news comes after previously undertaken drilling at Mt Deans identified up to 15m thick pegmatites. 

Aruma Resources is a junior explorer that wholly owns 4 ‘highly prospective’ exploration projects in ‘major’ active Australian provinces. These assets include the Salmon Gums, Saltwater, Melrose, and Carter Well gold projects. 

As of 30 June 2023, the company had $3.23 million cash at hand, according to its latest quarterly report. 

Write to Aaliyah Rogan at Mining.com.au    

Images: Aruma Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
  • 28 July, 2023
WRITTEN BY Carolyn Rebeiro

Aruma (ASX:AAJ) MD Glenn Grayson on advancing lithium, rare earths and gold exploration in WA

Aruma Resources (ASX:AAJ) has five projects across Australia that span lithium, rare earths and gold. The company’s Managing Director Glenn Grayson sat down with presenter Carolyn Rebeiro to discuss how things are tracking and his thoughts on the future of lithium demand.

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Written By Carolyn Rebeiro
Joining Mining.com.au from the West Coast, finance presenter Carolyn began her journalism degree in Townsville and developed a passion for mining news after a FIFO stint in WA's Goldfields.
  • 28 July, 2023
WRITTEN BY Carolyn Rebeiro

Multiple Metals Found? Aruma Has It

Aruma Resources (ASX:AAJ) has discovered ‘a mix’ of metals at its Saltwater Project in Western Australia’s Pilbara region. While looking for rare earths, the company also found economic grades of cobalt with associated copper and zinc, as well as barium, which Managing Director Glenn Grayson says indicates potential for Saltwater to host a VMS mineralised system.

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Written By Carolyn Rebeiro
Joining Mining.com.au from the West Coast, finance presenter Carolyn began her journalism degree in Townsville and developed a passion for mining news after a FIFO stint in WA's Goldfields.
  • 27 July, 2023
WRITTEN BY Aaliyah Rogan

Aruma Resources plans to follow up on ‘bonanza’ gold results at Salmon Gums Project, WA

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
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
WRITTEN BY Adam Drought

Aruma Resources strikes collection of ‘significant’ REEs and base metals at Saltwater Project, WA

Minerals explorer Aruma Resources (ASX:AAJ) has unearthed ‘significant’ rare earth elements (REEs) and cobalt following initial reconnaissance fieldwork at its Saltwater Project in Western Australia. 

The company says results are ‘highly encouraging’ and have been generated from its first phase of surface sampling at the project. These results are interpreted to share similarities to those seen at Dreadnought Resources’ (ASX:DRE) neighbouring Bresnahan REE Project. 

Results also demonstrate the presence of anomalous lead-zinc in conjunction with the already identified commodities, reaffirming the project’s potential to host unconformity heavy rare earth elements (HREEs) and base metal deposits. 

Aruma reports these results, paired with elevations of phosphorus, strontium, and thorium, as well as with the presence of ‘significant’ barium and manganese, offer initial encouragement for the potential of Saltwater to host a VMS or MVT-style mineralisation system.  

As a result, mapping and infill surface sampling at priority areas is expected to begin this month to develop drill targets in conjunction with ongoing systematic sampling. 

Current sampling is targeting the interpreted 80km strike of favourable stratigraphy at Saltwater and is working to define additional areas of interest. 

Key results include hole AR12232 with 1158 parts per million (ppm) total rare earth oxide (TREO); 25% neodymium-praseodymium (NdPr)/TREO and 21% heavy rare earth oxide (HREO)/TREO; and hole AR12291 with 1022ppm TREO; 25% NdPr/TREO and 27% HREO/TREO.  

Commenting on the results, Aruma Resources Managing Director Glenn Grayson says: “We are delighted with the initial results from our first phase of REE-focused field work at Saltwater. The sampling program represents our first stage of on-ground REE work at the project, and the results have exceeded expectations, reaffirming our view of Saltwater’s potential for hosting unconformity HREEs. 

“We are delighted with the initial results from our first phase of REE-focused field work at Saltwater”

These initial results constitute a resounding success for our exploration approach thus far. Furthermore, the grades of the surface samples for base metals are exciting and provide an additional exploration focus at the Saltwater Project. This potential will be further investigated in the company’s ongoing fieldwork at Saltwater.” 

Aruma Resources is an ASX-listed mineral explorer focused on the exploration and development of a portfolio of prospective gold and lithium projects strategically located in major active mineralised belts in Western Australia.

The company’s Saltwater Project is located in the Pilbara region of Western Australia and was originally pegged by Aruma in 2020 for its gold prospectivity but is also considered prospective for REE mineralisation. 

Aruma Resources had $2.46 million cash at hand and no debt as of 31 March 2023, as stated in its latest quarterly report.

Write to Adam Drought at Mining.com.au

Images: Aruma Resources Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.
WRITTEN BY Aaliyah Rogan

Aruma Resources’ founding Managing Director resigns

Aruma Resources (ASX:AAJ) announces its Non-Executive Director and founding Managing Director, Peter Schwann, has resigned to focus on ‘personal interests’. 

Schwann led Aruma from its ASX listing in 2010 up until January 2023, when he stepped down from his Managing Director role and became a Non-Executive Director of the company. 

Commenting on Schwann’s resignation, Aruma Resources Chairman James Moses says: “Peter has always demonstrated boundless energy and passion for his work at Aruma Resources, and his commitment and dedication has been evident to stakeholders across all areas of the business throughout his 13-year tenure with the company.

“He led the company through the assessment and exploration of a range of projects and oversaw multiple capital raisings which enabled Aruma to execute its exploration programs”

He led the company through the assessment and exploration of a range of projects and oversaw multiple capital raisings which enabled Aruma to execute its exploration programs.”

As Aruma’s Managing Director, Schwann managed and led the assessment, acquisition and pegging, and subsequent exploration of several projects across a range of different minerals. 

The company acknowledges that Schwann helped build the company to ‘successfully’ pursue its exploration activities.  

Aruma Resources is an ASX-listed minerals exploration company focused on a  portfolio of prospective gold and lithium projects in Western Australia. 

As of 31 March 2023, the company had $2.46 million cash at hand and no debt, according to its latest quarterly report. Aruma in June launched a share placement to raise $2.36 million before costs. 

Images: Aruma Resources Ltd
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.
WRITTEN BY Harry Mulholland

Aruma Resources taps investors for $2.25 million to accelerate fieldwork at projects in WA

Australian explorer Aruma Resources (ASX:AAJ) has received firm commitments to raise $2.25 million in a placement to accelerate fieldwork across its multi-element project portfolio in Western Australia.

The company reports the placement will fund a mapping and sampling program at the Saltwater Rare Earth Elements (REE) Project, as well as the next phase of drilling and metallurgical testwork at the Mt Deans Lithium Project and further drilling at the Salmon Gums Gold Project.

At Saltwater, the company plans to complete systematic mapping and sampling across an interpreted 80km strike. This program is designed to provide targets for a maiden drilling program.

Aruma reports it has identified up to 15m-thick pegmatites at Mt Deans, and drilling campaigns have confirmed the presence of lithium-rich pegmatites. Additionally, recently completed first-phase metallurgy has confirmed the ability to produce a lithium concentrate, while further drilling and metallurgy are planned as the next steps in the company’s systematic exploration and appraisal of the project.

The company reports Salmon Gums is situated 30km along strike and in the same stratigraphy as Pantoro’s (ASX:PNR) ‘high-grade’ Scotia Gold Project. Aruma says it has conducted multiple drilling programs at the project that have returned ‘bonanza’ gold grades, and further targeted drilling is planned to extend the ‘high-grade’ mineralised zone.

The placement was ‘strongly bid’, which the company says is a testament to its focus on core REE, lithium, and gold projects in Western Australia. This placement also saw several investors join Aruma’s share registry for the first time.

Aruma reports that once the placement is complete, it will have a ‘strong’ balance sheet, with a cash balance of about $3.7 million to undertake its work programs.

Aruma reports that once the placement is complete, it will have a ‘strong’ balance sheet, with a cash balance of about $3.7 million to undertake its work programs

Under the placement, Aruma will issue more than 38.79 million shares at $0.058 per share. This represents a 16.2% discount to the company’s 10-day volume weighted average price (VWAP) up to the date of the placement announcement.

The company also advises that Chairman James Moses and Director Peter Schwann participated in the placement and have subscribed for a total of over 1.439 million shares, subject to shareholder approval.

The offer also includes a free attaching option for every share subscribed for in the placement, exercisable at $0.10 up to 11 June 2026. Aruma notes the options and director shares remain subject to ASX listing requirements and shareholder approval.

GBA Capital acted as lead manager to the placement and will be paid a 6% commission on funds. Subject to shareholder approval, GBA will receive 15 million options exercisable on the same terms as the placement. Aruma reports it will convene a shareholder meeting in the coming weeks to seek shareholder approval.

New shares under the placement are expected to be issued on 13 June 2023. This does not include the shares subscribed for by the company’s directors.

Aruma Resources is an ASX-listed mineral exploration company focused on its portfolio of prospective gold and lithium projects in Western Australia. These projects include the Mt Deans Lithium, Salmon Gums Gold, and Saltwater projects.

Write to Harry Mulholland at Mining.com.au

Images: Aruma Resources Ltd
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.
WRITTEN BY Adam Drought

Aruma Resources first off the line with start of field program in emerging REE province, WA

Aruma Resources (#ASX:AAJ) has begun a rare earth element (REE) fieldwork program at its Saltwater Project to position itself with a first-mover advantage in an emerging REE province in Western Australia. 

The company says fieldwork will consist of mapping and ‘extensive’ surface geochemical sampling over an 80km strike length of prospective stratigraphy for light and heavy REE. This work is supported by a mapped outcrop identified from a reconnaissance site visit by Aruma. 

Aruma reports sampling will begin at a ‘high priority’ radiometric target with a strike length of up to 15km, located west of the Nobby’s prospect. Selected samples from this initial phase of sampling will be sent for laboratory analysis. 

This round of sampling is hoped to warrant the start of a maiden REE-focused drilling program, subject to results, and is expected to progressively test the interpreted 80km strike.  

The company notes it will also adopt a multi-commodity approach to its fieldwork at Saltwater and will assess the base and precious metals prospectivity in parallel with its REE focus.

Assay results from the surface sampling program are expected to be received in July and will be released to the market as they become available.  

Speaking on the start of fieldwork, Aruma Resources Managing Director Glenn Grayson says: “We are excited by the REE potential of the Saltwater Project, which we are of the view represents a significant underexplored REE opportunity in what is as an emerging REE province. 

“We are excited by the REE potential of the Saltwater Project, which we are of the view represents a significant underexplored REE opportunity in what is as an emerging REE province.”

We have defined an extensive interpreted strike of 80km, which will be systematically explored for its REE potential, and we believe that our ground holding is amongst the most prospective REE tenure in the region. 

Given the burgeoning demand for critical rare earth elements, our fieldwork is designed to aggressively and systematically unlock the REE potential of the project.” 

The company notes this program is being undertaken following the extension of the gold-mineralised footprint at its Salmon Gums Gold Project, also in Western Australia, as announced by Aruma last week (26 May 2023).

Aruma stated drilling encountered the newly defined ‘Rose’ prospect and succeeded in extending gold mineralisation at the priority Iris and Thistle prospects. 

Aruma Resources is an ASX-listed minerals exploration company focused on the exploration and development of its portfolio of prospective gold and lithium projects strategically located in major, active Australian gold mineralised belts in Western Australia. 

The company’s Saltwater Project is located within the Pilbara region of Western Australia and was originally pegged by Aruma in 2020 for its gold prospectivity. Exploration to date has included 2 phases of reverse circulation (RC) drilling within a targeted area of the project. 

The project is also situated adjacent to Dreadnought Resources’ (ASX:DRE) Bresnahan REE Project, which has returned ‘significant’ initial heavy REE results.

Write to Adam Drought at Mining.com.au

Images: Aruma Resources Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.
WRITTEN BY Adam Drought

Aruma Resources cultivates extended gold footprint at Salmon Gums Project, WA 

Aruma Resources (ASX:AAJ) has extended the gold mineralised footprint at its Salmon Gums Gold Project in Western Australia following a recent reverse circulation (RC) and auger drilling program.

The results, generated from 44 RC holes and 894 shallow auger holes, provide further support to the potential the project has as an emerging new gold camp. 

Results are also indicative of the existence of multiple zones of gold that expand the gold-mineralised footprint at the priority Iris and Thistle prospects.

Aruma reports drilling has also identified a new target, named the Rose prospect, between the Iris and Thistle prospects, with multiple new gold intersections returned from this new target. 

Key results include hole SG23RC030 with 1m @ 3g/t Au from 71m; hole SG23RC037 with 1m @ 1.3g/t Au from 46m and 5m @ 0.4g/t Au from 103m; hole SGRC066 with 1m @ 4.1g/t Au; and hole SG23RC026 with 1m @ 2.3g/t Au from 27m. 

The RC drilling was designed to follow up on ‘bonanza-grade’ gold intersected by Aruma in previous drilling, which returned gold grades up to 224g/t Au, while auger drilling was undertaken to test ‘strong’ coincident gold- and arsenic-in-soil anomalies within the wider project area.

This recent drilling has also warranted the drafting of plans for a diamond drilling program targeting further ‘bonanza’ gold intercepts of 5m @ 50.2g/t Au in order to better define controls and extensions to this very ‘high-grade’ gold zone.     

Speaking on the results, Aruma Resources Managing Director Glenn Grayson says: “The Salmon Gums Gold Project has the potential to host a significant mineral deposit. This round of drilling was designed to test our geological model for gold mineralisation at the project over a considerable strike and has been successful in intersecting multiple zones of gold mineralisation, which has resulted in the definition of a new target at the Rose prospect.

“The Salmon Gums Gold Project has the potential to host a significant mineral deposit”

As our understanding of the gold model at Salmon Gums increases, as a next step, we plan to undertake targeted diamond drilling in several orientations to follow up the bonanza gold intersection of 5m at 50.2g/t from our previous phase of drilling and to increase our understanding of what is controlling the high-grade gold.”  

Additionally, auger drilling is noted to have identified potential for multiple new gold prospects and has also returned multiple rare earth element (REE) soil anomalies. Follow-up analyses are currently being completed to provide a more comprehensive REE value to these anomalies. 

Aruma Resources is an ASX-listed minerals exploration company focused on the exploration and development of its portfolio of prospective gold and lithium projects strategically located in major, active Australian gold mineralised belts in Western Australia. 

The company’s Salmon Gums Project is located about 200km south of the major regional centre of Kalgoorlie and about 60km south of the mining town of Norseman in WA. It comprises 2 exploration licences with 1 exploration licence application that cover a total land area of 360km-square.

Write to Adam Drought at Mining.com.au

Images: Aruma Resources Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.
WRITTEN BY Harry Mulholland

Aruma Resources begins third floatation test at Mt Deans Lithium Project in WA

ASX-listed minerals exploration company Aruma Resources (ASX:AAJ) is conducting a third floatation test as part of ongoing metallurgical testwork at the Mt Deans Lithium Project in Western Australia.

The company reports the floatation test and subsequent gravity separation test is utilising samples that have not been reverse circulation (RC) drilled.

Aruma says pegmatite samples from outcrop at the project has been collected for this purpose and notes the next phase of testwork will begin immediately.

This testwork follows initial sighter testwork that aimed to establish what kind of products could be produced from pegmatites at the project, and provide a first step in a pathway to potential project development.

Aruma says 2 floatation tests were conducted, with initial results confirming a lithium concentrate can be produced with a concentrate grade of 3.1 times Li2O feed grade returned from the floatation tests. The company reports it achieved recoveries of 80% into 25% of the mass.

Additionally, Aruma reports the initial float result also delivered ‘promising’ upgrades relative to original feed grade for other metals including potassium, rubidium, caesium, tin, and tantalum. The program also highlighted the value of the tin and tantalum at Mt Deans, with both being able to be separated in the floatation process.

Aruma also reports the initial results have been delivered from testwork on pulverised RC drill chips, which the company acknowledges as being ‘sub-optimal’ for floatation testwork. The company anticipates that testwork using a crushed rock feed will deliver a ‘higher’ grade concentrate, and ‘higher’ recoveries.

“These sighter testwork results give us a great deal of confidence in the potential value we see at Mt Deans”

Commenting on the results, Aruma Resources Managing Director Glenn Grayson says: “These sighter testwork results give us a great deal of confidence in the potential value we see at Mt Deans. To deliver a first pass concentrate of 2.64% Li2O with another 0.6% Li2O in the slimes, provides us with confidence that floatation works and that Mt Deans could deliver a typical lepidolite concentrate of around 4% Li2O.

The upgrade of all metals from this early-stage testing shows us that further work to establish what may be achieved with the Mt Deans pegmatite is key to realising the project’s full potential.

Mt Deans was historically a tin mine in the 1940s, and a tantalum project 15 years ago. This, in conjunction with the potential lithium value, plus rubidium and caesium, makes Mt Deans a ‘high’ potential project for Aruma.”

Aruma reports the initial float test results achieved ‘high’ recoveries with 80% recovered in the first 2 concentrates. The second floatation test managed to increase the Li2O grades by an average of 3.1 times to a grade of up to 2.64% Li2O. Using a higher-grade sample of 1.2% Li2O may produce a flotation concentrate above 3.5%.

The company notes that rubidium grades are ‘high’ in concentrate, at close to 2% Rb2O. Potassium has been concentrated to 5.88%, which is almost a 3 times increase in grade.

Additionally, Aruma notes the de-slime contained lithium with a grade of 0.63% Li2O. Initial assumptions for this include RC drilling generated fines which reported to the de-slime overflow, and the fluids used by the drillers have affected how the micas have reacted to the reagents in the floatation.

Aruma Resources is an ASX-listed minerals exploration company developing a portfolio of prospective gold and lithium projects in Western Australia. The company’s projects include the Carter Well, Melrose, Saltwater, and Salmon Gums Gold projects, as well as the Mt Deans Lithium Project.

Mt Deans covers 1.44km-square in the Eastern Goldfields Terrane of the Yilgarn Craton. The project is located about 10km south of the mining town of Norseman, and it is considered prospective for lithium, tantalum, and rare earth elements.

Images: Aruma Resources Ltd
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.