Aruma Resources (ASX: AAJ) has identified a 300 metre gold anomaly at the Steves Prospect at the Glandore project near Kalgoorlie after rock chip sampling return visible gold and an assay of 24 grams per tonne gold.
This will be investigated by the current reverse circulation drilling program, which focuses on areas with visible gold in quartz vein material at the Jundee South, Glandore, and Gindalbie projects.
Drilling at Glandore will focus on the more accessible western areas that have been targeted after the Fluid Flow modelling and surface sampling.
About 3,000 metres of drilling will be carried out over the Steves and Grunts Prospects. Negotiations are continuing with the Central East Group Native Title claimants to allow exploration on the eastern areas at Glandore.
Aruma will also start drilling at Gindalbie this year over the Lady Lauren prospect that has been defined by both rock chip samples and the reinterpretation of HyMap.
The area to be drilled has produced visible gold specimens and rock chips of up to 25.81g/t gold.
A total of some 1,000m of RC drilling will be carried out.
Jundee South is located 60 kilometres east of Wiluna and 25 kilometres south of the Jundee Mine.
The area to be drilled is being appraised by the Central Desert Native Title Services, and the company expects clearance to be given in May after the survey on the 8 May 2013.
About 2,000 metres of reverse circulation drilling is planned in the initial phase.
Rotary air blast drilling carried out in 2011-2012 had defined the mineralised Marks Prospect as a 400 metre by 100 metre area.
A total of 75 holes totalling 2.562 metres were drilled to follow up previously identified soil anomalies. One soil sample had produced 16.5g/t gold.
Exploration work at Bulong, Laverton East (Pauls Well) and the other leases is ongoing and will continue as the leases are granted, as will the routine acquisitions and releases of ground according to results.
Aruma had $2.14 million in cash as of 31 March 2013 and has since raised a further $2.5 million through a placement of 50 million shares at $0.05 each, giving it a total cash position of $4.64 million, or $0.058.
This leaves the company trading below cash backing at its current market capitalisation of $4.04 million and share price of $0.051.
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