Aruma Resources Ltd (ASX:AAJ) has added three new projects to its mineral asset portfolio, increasing exposure to copper and uranium with the purchase of the Wilan iron oxide copper-gold (IOCG) and uranium project in South Australia and the Fiery Creek and Bortala copper projects near Mt Isa in Queensland.
All three projects hold potential for both stratiform and IOCG-style copper-gold mineralisation, with the additional bonus of the playa lake uranium target on Wilan.
Firey Creek in particular has generated very high copper grades of up to 36% in historical exploration and Aruma has identified several priority targets via a review of previous exploration data on Bortala.
Acquisition expands mineral focus
“We are delighted to complete this pivotal acquisition, which will see Aruma expand focus into key high-demand commodities, copper and uranium in two of Australia’s pre-eminent, active mineral precincts,” Aruma managing director Glenn Grayson said.
“With the acquisition now complete, we plan to commence targeted, systematic fieldwork programs across the new projects to define drill targets, with the aim of progressively drill testing priority targets to unlock each project’s full value proposition.
“We look forward to sharing details of progress in our plans and work programs across the project portfolio in the coming months.”
Aruma Resources project portfolio including Wilan IOCG-Uranium Project, South Australia and Fiery Creek and Bortala copper projects, Queensland.
Aruma is planning a suite of exploration field work over its new projects, including detailed geophysical surveys and a site visit, with an initial focus on Fiery Creek.