Company
ASX:AUN
Aurumin Ltd (ASX:AUN) has four gold projects including two historical high-grade production centres, Mt Dimer and Mt Palmer. The Mt Dimer Project is a historical mining centre that has produced in excess of 125,000 ounces of gold including 600,000 tonnes mined from six open pits and one underground mine at 6.4 g/t gold. Aurumin is actively exploring its tenements and is also seeking potential acquisitions that will complement its existing focus areas.
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“We see the Two Mile Hill underground resource as a key part of the project going forward, with the scale to potentially underpin future production, and we look forward to the results,” says MD.
Aurumin is targeting gold at two deposits on the tenure, intending to complete 1,400 metres of RC drilling and 800 metres of diamond drilling at the Shillington BIF deposit and Two Mile Hill deposit respectively.
"The full soil sample results support our lithium targeting and indicators remain positive at Mt Palmer and analogous to other projects in the region. The orientation drill program is complete, with pegmatites confirmed in 11 of the 12 hole
The company’s RC and diamond drill program will target Two Mile Hill tonalite and Shillington BIF mineralisation.
Aurumin has completed the first stage of an extensive 2022 exploration program for the project in which it hopes to unearth new deposits. The project historically produced more than a million ounces of gold in the 120 years or so it was in
Aurumin is drill testing pegmatites potentially prospective for lithium at the Vickers Find South B prospect of the Mt Palmer Project, looking to discover a viable lithium resource at the historically gold-focused project area.
A follow-up program is also in the works, considering a second drilling phase to target other areas of surface anomalism unearthed during the soil sampling campaign.
The Central Sandstone Project comprises a 784,000-ounce gold mineral resource and significant project infrastructure that AUN intends to use to support a gold mining operation in the future.
Aurumin’s Managing Director Brad Valiukas said the program is an important step to maximise targets early on the mining tenements.
"We are pleased to add this extra dimension to Mt Palmer for 2022 and the program is prospective for both gold and lithium," says MD Brad Valiukas.
Aurumin recently completed the acquisition of the 784,000-ounce Sandstone Gold Project from Middle Island Resources.
"Sandstone provides an excellent opportunity to add value as we advance the project and build a mining company," says MD Brad Valiukas.
The 784,000-ounce Sandstone Gold Project comes with an existing mineral resource and substantial infrastructure.
“In some locations, gold and iron ore exploration activity will be complementary and we are pleased to add this extra dimension to Mt Dimer for 2022," says managing director Brad Valiukas.
With an acquisition, a placement, high-grade gold finds and more field work, the previous quarter kept the company busy.
The company is targeting close to $5 million to seal the Sandstone deal and inject funds into its various exploration projects.
Aurumin is acquiring the Sandstone Gold Project with a resource of 22 million tonnes at 1.1 g/t gold for 748,300 ounces, adding to the company's four existing projects
"We will continue to advance our Southern Cross assets (Mt Dimer and Mt Palmer) in parallel with Sandstone Project acquisition (subject to completion)," says MD.
“This acquisition will advance Aurumin’s development aspirations in the highly prospective Sandstone region and complement our Southern Cross assets. In addition, following completion of the acquisition, Aurumin will have a potential proces
All initial samples have been dispatched to the assay laboratory and assays are expected to be returned prior to the end of the year.
