Aurumin receives additional high-grade results of up to 23.4 g/t gold from Mt Dimer
The new 1-metre assays are in addition to the results received and reported in September and improve both Lightning and LO3 results.
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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The new 1-metre assays are in addition to the results received and reported in September and improve both Lightning and LO3 results.
“Higher inflation expectations signal wages are accelerating at a faster pace than what the RBA thought,” said David Plank, ANZ’s head of Australian economics. “But the important piece of the puzzle is that while wages growth is picking up,
The gold explorer and project developer plans to execute between 2,500 and 3,000 metres of reverse circulation drilling over its wholly-owned gold camp.
There’s a number of gold-bearing deposits in the works at Aurumin’s Mt Dimer camp, which saw extensive drilling over the September quarter.
Mt Palmer has a history of high-grade production, producing around 158,000 ounces of gold at 15.9 g/t before ceasing commercial operations in 1944.
Mt Dimer is a historical high-grade production centre, having produced more than 125,000 ounces of gold, including open pit and underground production of 600,000 tonnes at 6.4 g/t gold.
Drilling is planned to recommence at Mt Dimer next month as the company looks to follow up high-grade intercepts and increase the value of the project.
The mineral resource estimate of 803,000 tonnes at 2.51 g/t gold has been completed following extensive data validation and on-ground survey work.
All initial samples have been dispatched to the assay laboratory and the company expects results in around five weeks.
During the current program, the company plans to complete about 2,500 metres of drilling at the historical high-grade production centre that produced more than 125,000 ounces of gold.
Drilling to start next week is aimed at building on previous successful programs at existing deposits and mineralised structures discovered during a recent SAM survey.
The company expects to have a revised targeting model for Mt Palmer soon following ongoing modelling.
All initial samples at the Mt Palmer Project in Western Australia have been dispatched to the assay laboratory and results are expected in mid-June.
"This drilling is in line with our strategy of testing remnant potential and working out from the existing mine. We are looking forward to the results for this high-potential project, " says MD.
Mt Dimer is a historical high-grade production centre, having produced over 125,000 ounces of gold, including open pit and underground production of 600,000 tonnes at 6.4 g/t gold.
Encouraged by recent assays from Mt Dimer Project, the company plans to move to the next phase, where it will test along identified structures rather than the wider-spaced drill lines.
The company plans to drill 29 holes for 2,500 metres in its first Mt Palmer program to test for extensions north and south of the historical mine.
Drilling started at the Lightning deposit before moving onto new targets from the 2020 SAM Survey.
Mt Dimer Project historically produced 125,000 ounces at 6.4 g/t while the Mt Palmer Project produced158,000 ounces at 15.9 g/t and has been left largely undisturbed since 1944.
Mt Dimer Project historically produced 125,000 ounces at 6.4 g/t and Mt Palmer produced 158,000 ounces at 15.9 g/t and has been left largely undisturbed since 1944.