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Aruma Resources expands copper project in Western Australia

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Aruma Resources (ASX:AAJ) has advised that its new Bulloo Downs Copper Project in Western Australia has the potential to increase in area from 218 square kilometres to over 1,114 square kilometres.

The new joint ventured leases are part of an agreement with Atlas Iron (ASX: AGO) where Aruma can earn up to 90% of the leases, with Atlas maintaining their iron ore interests.

The initial 50% will be earned in three months with Aruma spending $150,000 on ground expenditure.

The agreement made Aruma the major landholder in the area and gained access to more mineralised structures and assays from the Scotties Area support further exploration of the full lease package.

Aruma will have full coverage of the identified trends and also confirms the strike extent of the mineralised structures to more than 100 kilometres.

Sampling at Scotties has previously returned copper values up to 42.9%, 1.51 g/t gold and 10.3 g/t silver.

Bulloo Downs is considered to have potential to be a new copper district and has strong indications of deep-seated, structurally controlled hydrothermal copper bodies with low contaminants.

Following on from mapping, successful outcrop rock chip sampling and first pass drilling results, a further sampling and mapping survey is underway with a second drilling program to be conducted in selected areas.

The areas were Heritage cleared for drilling over some 15 kilometres of first order targets, including the east gossan at Madison.

With the successful completion of the Heritage Clearance, drilling is scheduled in July-August.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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ASX:AAJ
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