Aruma Resources Ltd (ASX:AAJ) has completed the acquisition of the high-grade Tillex Copper-Silver Project in the Tier-1 Timmins mining district of Ontario, Canada, marking a key step in the company’s strategy to build exposure to copper assets in established North American mining jurisdictions.
Settlement has now been finalised for all four patent claims that make up the Tillex Project, with legal title formally transferred to Aruma. The claims are held under a combination of agreements with Canadian-listed Metals Creek Resources Corp (TSX-V: MEK) and private landholders, resulting in Aruma securing control of the entire project area.
Under the transaction structure, Aruma acquired an 85% interest in two patented claims from Metals Creek Resources and a 100% interest in two adjacent patented claims from private owners. Together, the four claims form the Tillex Copper-Silver Project.
Read more: Aruma Resources moves into Canada with acquisition of high-grade Tillex copper-silver project
Tillex is a substantially drill-defined copper sulphide system with a history of high-grade intersections and significant exploration upside. Previous drilling has intersected broad zones of copper-silver mineralisation, including 110 metres at 1.69% copper and 7.05g/t silver from 34 metres in drill hole TX24-020. This result included higher-grade intervals of 28.7 2 metres at 2.35% copper and 9.52g/t silver from 55 metres, and 29 metres at 2.64% copper and 12.31g/t silver from 100 metres.
Drilling has also returned standout silver grades, including an intersection of 5 metres at 355.30g/t silver from 89 metres in drill hole TX11-008, highlighting the polymetallic nature of the mineralisation.
Timmins location and tenure advantages
The Tillex Project is located approximately 57 kilometres east of Timmins and around 60 kilometres from Glencore’s Kidd Creek mining complex, one of the world’s largest volcanogenic massive sulphide operations. Kidd Creek produces an average of around 40,000t of copper and 70,000t of zinc per year, underscoring the district’s long-standing production credentials.
Regional location map showing Tillex Project within the Timmins mining district, Ontario, Canada.
The project is situated on patented claims, providing Aruma with full ownership of both surface and mineral rights. This removes the need for land access agreements typically required for exploration on unpatented ground. A First Nations agreement is already in place over the claims acquired from Metals Creek.
Drilling footprint and next steps
More than 10,280 metres of diamond drilling has been completed across the Tillex Project by previous owners. Drilling to date has defined mineralisation over an approximate strike length of 450 metres, with copper sulphide mineralisation starting immediately below shallow overburden of around 25–30 metres and extending to depths of approximately 150 metres. The mineralised system remains open along strike to the north, south and west, as well as at depth.
Aruma plans to pursue a dual exploration and resource development strategy at Tillex. This will focus on expanding the known mineralised footprint along strike and at depth, while also working towards defining a maiden Mineral Resource Estimate. In addition, the company intends to test for potential parallel mineralised structures within the broader project area.
A maiden field program is scheduled to start in the current quarter. Initial work will include an electromagnetic survey aimed at defining and refining drill targets, followed by a first-phase diamond drilling program. Further details on the scope and timing of this work are expected to be provided shortly.
The acquisition comes against a backdrop of strong long-term supply-demand fundamentals for copper, driven by electrification, decarbonisation and infrastructure investment, positioning Tillex as a key exploration focus for Aruma moving forward.