Aurumin Ltd (ASX:AUN) aims to revise its targeting model for the Mt Palmer Project in Western Australia in the near term, once ongoing modelling has been completed.
The company has received the latest reverse circulation assays for drilling undertaken in April and May, which tested for extensions to lodes in and around the mine as well as extensions north and south of the historical mine footprint.
Thirty-two holes for 2,563 metres were completed with the following intersections returned:
- 3 metres at 1.30 g/t gold from surface; and
- 3 metres at 1.35 g/t from 40 metres.
Exploration to continue
Managing director Brad Valiukas said: “The Mt Palmer gold system has a complex 3D geometry, and we did not intersect our projection of high-grade mineralised shoots with this first pass drilling.
“The company has recently completed a structural geology review at Mt Palmer and, with ongoing modelling, we expect to have a revised targeting model for Mt Palmer in the near future.
“Exploration will continue at Mt Dimer, which has immediate follow up required at both Lightning and Golden Slipper, with recent high-grade intersections to the north of both deposits, and at the newly identified mineralised structures resulting from drilling of the 2020 SAM survey targets.
Aurumin has four gold projects including two historical high-grade production centres, Mt Dimer and Mt Palmer:
- Mt Dimer – more than 125,000 ounces of gold produced, including open pit and underground production of approximately 600,000 tonnes at 6.4 g/t, and a substantial tenure footprint; and
- Mt Palmer – historical open pit and underground production for around 158,000 ounces of gold at an average grade of 15.9 g/t.