Aruma Resources Ltd (ASX:AAJ) has highlighted progress across its core copper, heavy mineral sands and Pilbara exploration projects during the March quarter.
The company completed the acquisition of the Tillex Copper Project in Ontario, Canada, adding a well-defined, high-grade copper sulphide asset in the Tier-1 Timmins minerals district.
Tillex has already been tested by 10,283.6 metres of diamond drilling by previous operators, with standout shallow copper intersections including 110 metres at 1.69% copper and 7.05 g/t silver from 34 metres, 98.2 metres at 1.82% copper and 13.17 g/t silver from 35.8 metres, and 92.05 metres at 2.12% copper and 12.18 g/t silver from 36.95 metres.
High-grade silver has also been intersected, including 5 metres at 355.30 g/t silver from 89 metres.
An extensive electromagnetic survey had defined two significant conductors, including the Main Conductor, which extends the strike to 600 metres and has a depth extent of more than 400 metres.
A maiden diamond drilling campaign has now started, targeting extensions to the high-grade copper footprint along strike and at depth, with initial assay results expected in the current quarter.
High-value heavy mineral sands
In South Australia, the company’s Wilan Project in the Eromanga Basin returned sampling results confirming high-value heavy mineral sands assemblages containing zircon and titanium minerals, including rutile and ilmenite.
At the Saltwater Project in Western Australia’s Pilbara region, the latest sampling phase expanded the mineralised footprint and refined priority targets at Saltwater Dome and Tunnel Creek.
On the corporate front, Aruma divested the non-core Melrose Project and settled the second tranche of a $3.515 million placement, raising about $2.778 million. Funds will support targeted exploration across the company’s core project portfolio.
Aruma ended the quarter with $1.896 million in cash.