💥Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

Aruma Resources chases potential Paulsens look-a-like in maiden Melrose drilling

Published 10/10/2022, 09:44 am
Updated 10/10/2022, 10:00 am
Aruma Resources chases potential Paulsens look-a-like in maiden Melrose drilling
MRON
-
GC
-

Aruma Resources Ltd (ASX:AAJ) has set the drill bit spinning in its maiden drilling campaign at the Melrose Gold Project in WA’s Pilbara region.

The precious metals explorer has embarked on the first phase of drilling at the Gossan Hill prospect, designed to target broad gold intersections defined in historical drilling.

Interestingly, Aruma’s primary target sits within a strong surface geochemical gold anomaly, which showcases a structural setting similar to the nearby Paulsens Gold Mine (previously owned by Northern Star Resources (ASX:NST).

The company’s 26-hole, 3,000-metre campaign should be complete within a fortnight and Aruma will release its findings as and when they become available.

Chasing up historical grades

Aruma managing director Peter Schwann said of the initial campaign: “The Melrose Project is one of our core exploration focuses and we are excited to have commenced the maiden drilling program at the priority Gossan Hill target.

“The significant, historical gold grades over very wide intercepts at Gossan Hill are consistent with the wide carbonate halo around the richer sulphide cores of these types of deposits.

“This is interpreted to fit exactly with the Aruma exploration model, and the style and host rocks at the rich mineralisation at the nearby Paulsens Project.”

All eyes on Gossan Hill

As it kicks off the maiden program, Aruma will take the magnifying glass to the Gossan Hill Prospect, a target of interest given its proximity to the Paulsens gold camp.

In the past, drilling at Gossan Hill has returned notable, thick gold intersections, such as:

  • 27 metres at 0.3 g/t gold from surface;
  • 18 metres at 0.26 g/t from 63 metres, including 1-metre at 1.44 g/t from 63 metres; and
  • 11 metres at 0.42 g/t from 8 metres, including 1-metre at 2.74 g/t from 14 metres.
Notably, these highly anomalous results are in a strong 50-parts-per-billion gold anomaly, meaning there’s a chance it could host precious metal upside like its famous neighbour.

As such, Aruma’s drilling will aim to define gold grades and controls on mineralisation and provide a deeper understanding of Gossan Hill’s lithology, mineralisation types, metallurgy and stratigraphy.

The company has a program of work in place that covers 200 reverse circulation holes, but for now, it plans to drill 26 across five lines in an initial program.

Depending on the results, however, this could be extended to 50 holes across 10 drill lines.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.