Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

ARUMA RESOURCES LIMITED Capital/Financing Update 2012

Mar 19, 2012

64273_rns_2012-03-19_03d6c7f5-349c-421a-87ae-e4f59560cf5a.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [191 x 123] intentionally omitted <==

Aruma Resources Limited

ABN 77 141 335 364 ASX: AAJ

ASX ANNOUNCEMENT 20 March 2012

EXPLORATION UPDATE

Highlights

  • RAB Drilling starts at Twin Hills North and PoW submitted for Twin Hills South

  • Steeple Hill and Jundee South PoWs submitted

  • Gindalbie PoW approved, Heritage Clearance pending

  • Glandore final Fluid Flow Report received

  • Interpretation of new HyVista defines anomalies at Gindalbie and Laverton North

Growing Western Australian gold explorer, Aruma Resources Limited (ASX: AAJ) is pleased to announce continuing progress in the Company’s current exploration programs.

Aruma now has three major projects, Glandore , Twin Hills and Gindalbie ; and the coming year’s exploration program has been designed to prioritise scheduled drilling of these highly ranked targets.

PROGRESS REPORT

Twin Hills

As previously announced, Aruma completed an agreement to option two new lease areas in WA’s prolific eastern Goldfields region, providing an opportunity to acquire a highly prospective landholding in the Menzies district - an established gold-producing province on the historical goldproducing Moriarty Shear; and mineralised zones adjacent to its own Gindalbie Leases.

The first pass drilling campaign has started and is expected to be completed in three weeks. The areas to be drilled are fully accessed with cleared drill lines. This drilling will total some 3,000m in 60 holes over the geochemical anomaly south of the reported RC holes.

The southern lease, E29/823, Unfinished Well, was granted in late December and a Program of Work (PoW) has now been submitted for drilling after the northern lease exploration is completed. A small RC program will follow up the results of the RAB program as well as testing to the south of previous RC drilling.

Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

Page | 1

ASX ANNOUNCEMENT 20 March 2012 EXPLORATION UPDATE

==> picture [99 x 69] intentionally omitted <==

Gindalbie

The Gindalbie Project (the major lease was included in the Twin Hills agreement above) has been flown with HyVista and interpreted by Aruma and HyVista staff in February. The alteration associated with the Mayday Mines and Lady Lauren Shaft has been noted in several locations on the leases. A PoW has been approved and the Heritage Clearance request will be submitted next week.

Jundee South

A new PoW has been submitted for some 35 holes to follow up the two highly anomalous areas defined in the December drilling. The previously reported best intersections were 18.6g/t Au in JSR 23 in the West Zone and 1m at 1.36g/t Au in JSR 17 in the East Area.

Steeple Hill

The results for nickel and copper showed a 3 metre intersection of anomalous Ni and coincident Cu, as well as a bottom of hole anomaly in the same hole.

Hole Easting Northing From To Interval Cu% Ni%
HPRB 23 430500 6591998 11 14 3 0.21 0.21

The pulps for the hole HPRB23 are being assayed for a multi element suite including manganese and other base metals and platinoids to determine if this is a gossan over a sulphide target or enrichment in the weathered profile.

Examination of the drill chips has identified blebby sulphides in the mineralised zone, and deeper RC drilling will be undertaken in the area, as well as some follow up on HyVista Jarosite anomalies seen in the latest interpretations of the data undertaken in February. To this end a new PoW has been submitted to the DMP.

Laverton North

The Paul Well lease area (EL28/2475) has now been flown and a PoW will be submitted after the final report from the HyVista survey has been received. Good anomalies connected to the Laverton East drilling were noted on the HyVista and these will be used in designing the drilling once the final HyVista report is received.

ENDS

Aruma Resources Limited

ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

Page | 2

ASX ANNOUNCEMENT 20 March 2012

EXPLORATION UPDATE

==> picture [99 x 69] intentionally omitted <==

==> picture [391 x 576] intentionally omitted <==

Figure 1 Aruma Resources’ project locations

Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

Page | 3

ASX ANNOUNCEMENT 20 March 2012

EXPLORATION UPDATE

==> picture [99 x 69] intentionally omitted <==

For further information please contact:

Peter Schwann Managing Director Aruma Resources Limited Ph: +61 8 6389 1799 Mobile: +61 417 946 370 [email protected]

Media:

Annette Ellis Purple Communications Ph: +61 8 6314 6300

Competent Person’s Statement

The information in this release that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Peter Schwann who is a Fellow of the Australasian Institute of Mining and Metallurgy and Chartered Professional (Geology). Mr Schwann is an employee of the Company.

Mr Schwann has sufficient relevant experience to qualify as a Competent Person as defined in the JORC Code (2004) and consents to the inclusion of this information in the form and context in which it appears.

Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

Page | 4