Aruma Resources Ltd (ASX:AAJ) earlier this week completed the acquisition of the Tillex Copper-Silver Project in Ontario’s Tier-1 Timmins mining district, positioning the company to begin its maiden field season at a drill-defined, high-grade copper asset.
Managing director Grant Ferguson said the company had reviewed 40 to 50 potential opportunities before selecting Tillex, citing the scale of historical work and the quality of drill results as key differentiators. The project hosts more than 10,284 metres of historical diamond drilling and represents over A$4 million in previous exploration expenditure.
Interview highlights
- Aruma Resources Ltd has acquired the Tillex Copper-Silver Project in Ontario’s Tier-1 Timmins mining district
- Settlement completed just days prior to the interview
- Project consists of four patented claims — Aruma is both landowner and mineral rights holder
- Over 10,284m of historical diamond drilling completed
- More than A$4 million in prior exploration investment
- Drill-defined copper sulphide system with 450m strike extent
- Wide intersections up to 110m
- Typical grades between 1.5% and 2% copper
- High-grade zones up to 14% copper
- Southern acquisition doubled strike potential
- Mineralisation open at depth (only drilled to ~135m)
- Located 60km from Glencore’s Kidd Creek mine
- Excellent infrastructure: road access, power, year-round accessibility
- Maiden field season about to commence
Proactive: Welcome back to Proactive Investors. I’m your host, Kerry Stevenson. Joining me is Grant Ferguson, managing director of Aruma Resources Ltd (ASX:AAJ). First time on Proactive — welcome, Grant. Tell our audience about Aruma Resources.
Grant Ferguson: Thank you for the opportunity, Kerry. Aruma Resources Ltd is an Australian-listed junior explorer focused on copper and gold. The company has projects across Australia, including assets in Queensland primarily focused on copper, a base metals project in Western Australia, and an asset in South Australia that is developing into a potential mineral sands opportunity.
Proactive: Today you’re here to discuss a new project in Canada.
Ferguson: Yes. We have just settled on the Tillex Copper-Silver Project in the Timmins mining district in Ontario, Canada — a Tier-1 mining jurisdiction. We announced settlement earlier this week, and we’re very excited about it.
Proactive: How did you secure the project and what are the terms?
Ferguson: The project comprises four patented claims, meaning Aruma Resources Ltd is both the mineral rights holder and the landowner. It hosts known copper sulphide mineralisation with wide and high-grade intersections. Mineralisation starts shallow, from around 30 metres depth, and remains open at depth and along strike.
We also secured additional ground to the south, effectively increasing the strike extent and capturing further known mineralisation.
Proactive: Has there been historical work completed?
Ferguson: Yes. There has been approximately 10,284 metres of diamond drilling completed historically, representing well over A$4 million in prior exploration investment. Previous owners completed significant drilling programs over multiple years.
Proactive: Why did this project stand out among others you reviewed?
Ferguson: We reviewed 40 to 50 projects. This one stood out because of the amount of historical work, the quality of diamond drilling, and the scale of the intersections. We’re seeing widths of up to 110 metres, with overall grades typically between 1.5% and 2% copper, and some higher-grade zones reaching up to 14%.
There are multiple intersections exceeding 40 to 50 metres, and up to 80 metres wide. Historical drilling in the southern area returned up to 30 metres at 1.5% copper. The system has only been drilled to around 135 metres depth, so it remains open at depth.
Proactive: What are the advantages of the location?
Ferguson: The project is located about 60 kilometres from Glencore’s Kidd Creek operation. It benefits from year-round access, road frontage, nearby power infrastructure and a strong mining services base in the Timmins district.
Proactive: Is this now a key focus for Aruma?
Ferguson: Yes. The Tillex Project provides exposure to a more advanced copper asset with substantial historical investment, complementing our earlier-stage portfolio. We see strong potential to generate shareholder value.
Proactive: We look forward to updates as work progresses.
Ferguson: Thank you, Kerry.