Aruma Resources Ltd (ASX:AAJ) earlier this week expanded its footprint around the flagship Tillex Copper-Silver Project in Ontario’s Timmins mining district, giving the company a substantially larger area in which to pursue potential copper and gold mineralisation.
Managing Director Grant Ferguson told Proactive the acquisition represented “a very positive step forward for the company”, with the enlarged tenure providing additional strike extent for the exploration of copper-mineralised structures similar to those already identified at Tillex.
Ferguson said the expanded project area also increased the opportunity to investigate prospective gold mineralisation. He explained that the acquisition had effectively given Aruma Resources a broader portfolio of targets, comprising potential extensions to the existing project alongside additional copper and gold prospects.
One potential catalyst for the company is the application of modern exploration techniques to ground that has seen comparatively limited historical work. Ferguson said exploration in parts of the area had largely finished in the mid-1990s and had primarily been reconnaissance in nature.
He said historical surveys had identified signatures similar to those seen at Tillex but which had not necessarily been followed up, leaving what he described as “a lot of blue sky” across a section of ground the company considers highly prospective.
Gold represents another area of potential exploration upside. Ferguson said initial targets had been delineated through till sampling, a technique that had been used successfully in Canada and other parts of the world. He also pointed to the project’s location in the Timmins area, describing the district as a tier-one province for copper and particularly for gold.
The next potential catalyst will be the start of field exploration across the expanded tenure. Ferguson said Aruma Resources intended to begin work as soon as possible, although some activities remained subject to approvals.
Initial programs are expected to include ground reconnaissance and potentially soil sampling. The company also plans more detailed magnetic work and further electromagnetic surveying.
These programs are expected to help Aruma Resources refine targets across the enlarged project area and assess whether the broader Tillex trend can generate additional copper or gold exploration opportunities.
Interview highlights
- Aruma Resources has expanded the footprint of its flagship Tillex Copper-Silver Project in the Timmins mining district of Ontario.
- Grant Ferguson described the acquisition as “a very positive step forward for the company”.
- The larger land package gives Aruma Resources additional strike extent to explore for copper-mineralised structures similar to those identified at Tillex.
- Ferguson said the acquisition also materially increases the area available to investigate potential gold mineralisation.
- Historical exploration identified signatures comparable with those seen at Tillex, but some areas have not been followed up in detail.
- Exploration across parts of the acquired ground largely ended in the mid-1990s and was predominantly reconnaissance-level work.
- Ferguson said this left “a lot of blue sky” and indications that the ground is highly prospective.
- Initial gold targets have been identified through till sampling, a method Ferguson said has historically been successful in Canada and elsewhere.
- Aruma Resources is operating in the Timmins district, which Ferguson characterised as a tier-one province for copper and particularly gold.
- Planned exploration includes ground reconnaissance, potential soil sampling, detailed magnetic work and further electromagnetic surveying, subject to required approvals.
Proactive: Aruma Resources is consolidating its position along the highly prospective northeast-southwest trend via the acquisition of approximately 16 square kilometres of exploration claims. Grant Ferguson, good to see you again.
Grant Ferguson: Thanks very much, Jonathan. Glad to be back.
Proactive: Good to have you again. Let’s talk about this acquisition. What does it mean for Aruma Resources and the expansion potential on many fronts?
Grant Ferguson: It’s a very positive step forward for the company and particularly the flagship Tillex project. Not only does it expand our land package from approximately 1.6 square kilometres up to 18 square kilometres, it allows us to gain a strike extent for potential further copper-mineralised structures similar to Tillex, which we’ve identified as being targeted, but also gives a lot more expansion for potential gold mineralisation.
So, we’ve basically now purchased an area that provides us with a portfolio of prospects for expanding the project, but also other copper prospects in addition to other gold prospects that we’ve identified.
Proactive: So essentially, it complements the company’s ongoing exploration strategy.
Grant Ferguson: Absolutely. And it helps us to really drive forward our focus on this asset and this region.
Proactive: And you saw a compelling opportunity through historical ground surveys. What did they show you?
Grant Ferguson: They showed us that there are certain similar signatures that we see at the project that have never necessarily been followed up on. The exploration really finished in the mid-90s in that area, and even then it was just more reconnaissance. So there’s a lot of blue sky there, and there are certainly a lot of indications that it is a highly prospective section of ground.
Proactive: And just to reiterate, there’s gold potential there?
Grant Ferguson: That’s correct, yes. Look, the initial targets have been delineated through till sampling. But that’s also been an extremely successful technique historically across Canada and other parts of the world.
So it is at an early stage, but there are recognised gold prospects on the ground. In addition to that, we are in the Timmins area, which is a tier-one province, not only for copper, but particularly for gold as well.
Proactive: So, Grant, what’s next? When does exploration start and what else can we expect?
Grant Ferguson: Exploration will start as soon as we can, obviously. Some activities will be subject to approvals, but we plan on doing, first of all, ground reconnaissance work, getting a good lie of the land and starting to do potentially some soil sampling.
In addition to that, we’ll be wanting to do some detailed magnetics and further expand on potential electromagnetic surveys as well.
Proactive: Grant, plenty to look forward to and plenty to come. We’ll talk again as it all unfolds, but hopefully you can enjoy your weekend before what I know is a busy week next week.
Grant Ferguson: Thanks very much. Thanks for the opportunity.