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ARUMA RESOURCES LIMITED — Capital/Financing Update 2013
Mar 26, 2013
64273_rns_2013-03-26_512f71ef-96bd-4404-bf6b-17591b81dbc5.pdf
Capital/Financing Update
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Aruma Resources Limited
ABN 77 141 335 364 ASX: AAJ
ASX ANNOUNCEMENT 27 March 2013
EXPLORATION UPDATE
Highlights
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Rock chips at Glandore and Gindalbie show visible gold
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6,000m RC Drilling at Gindalbie, Glandore and Jundee South scheduled for April-May
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Capital Raising underway
OVERVIEW
Western Australian gold explorer Aruma Resources Limited (Aruma or the Company) (ASX: AAJ) has three advanced projects, Jundee South , Glandore , and Gindalbie . The current exploration program has been designed to prioritise drilling of defined targets to advance to resources[1] . (See Figure 6 at the end of this announcement for Project Locations.)
The culmination of two years scientific study at Glandore will see the RC drilling of the two western Fluid Flow Targets in the 4th Quarter of FY 2012-2013. The results from Jundee South will also require RC drilling to define the mineralisation and progress this project towards a resource[1] .
Field work has given strong indications of mineralisation at both Glandore and Gindalbie with visible gold in quartz vein material at both locations.
PROGRESS REPORTS
Jundee South Project
The Jundee South Project (E52/1461) is located 60km east of Wiluna and 25km south of the Jundee Mine. The 2011-2012 RAB programs consisted of 2,562 m of RAB drilling in 75 vertical drill holes following up previously identified soil anomalies that had not been drilled. One soil sample produced a result of 16.5g/t Au in the area near the current Western Area of mineralisation (Normandy Mining Limited, 1992).
1 Information inferred from the interpretation of this information may be deemed to be forward looking statement, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
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
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ASX ANNOUNCEMENT 27 March 2013
EXPLORATION UPDATE
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The area to be drilled is being appraised by the Central Desert Native Title Service, and the company expects the clearance to be given in April.
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Figure 1 Drilling Plan on Geology with Figure 2 area (Enlargement) shown in red rectangle
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
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ASX ANNOUNCEMENT 27 March 2013
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EXPLORATION UPDATE
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Marks
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Figure 2 Drilling location plan with Geochem and Drilling anomalies with the RC target area (Marks) as a blue ellipse.
The RAB drilling has defined the mineralised Marks Area at Jundee South as a 400 by 100m area, and the planned RC drilling will total some 2,000m in the initial Phase. The significance of the RAB drill results were that the mineralisation is both thick and can contain high grades.
| Hole | Easting | Northing | Total Interval(m) | Average g/t Au |
|---|---|---|---|---|
| JSR033 | 272960 | 7065040 | 17 | 1.87 |
| JSR034 | 272958 | 7064978 | 12 | 6.58 |
| JSR035 | 272960 | 7064941 | 10 | 1.53 |
| JSR037 | 273000 | 7064940 | 3 | 1.43 |
Note: All holes vertical and assays by Fire Assay 50g
Table 1 Thick and High grade Mineralisation in the Marks Zone (as announced on 13 November 2012)
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
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ASX ANNOUNCEMENT 27 March 2013
EXPLORATION UPDATE
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Glandore Project
The Glandore RC drilling has been scheduled for mid-April after cyclonic rains in Kalgoorlie in February. The drilling will focus on the more accessible western areas that have been targeted after the Fluid Flow modelling.
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Steves
Grunts
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Figure 3 Drilling location plan with Fluid Flow and drilling anomalies with the RC target areas, Steves and Grunts, in the yellow ellipses.
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
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ASX ANNOUNCEMENT 27 March 2013
EXPLORATION UPDATE
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The Programs of Work for the two areas, Steves and Grunts, have been submitted and are expected to be granted in coming weeks. The drilling will total some 2,000m of RC drilling in the initial Phase. Negotiations are continuing with the Central East Group claimants to allow exploration on the eastern areas at Glandore.
A sample of visible gold was located at Steves, and this is to be investigated by the planned RC drilling. A rock chip from a 30 cm wide quartz vein at Steves assayed 24 g/t. The vein is in the area to be RC drilled and was noticed whilst putting in drill sites. The vein is shown in Figure 4 below.
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Figure 4
A 30 cm wide vertical quartz vein assayed 24.1 g/t with visible gold present
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
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ASX ANNOUNCEMENT 27 March 2013
EXPLORATION UPDATE
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Gindalbie
Drilling will commence at the Gindalbie project this year, with an RC program over the Lady Lauren prospect. The Lady Lauren prospect has been defined by both rock chip samples and the reinterpretation of HyMap.
The area to be drilled has produced visible gold specimens and rock chips of up to 25.81 g/t Au (LSA Exploration 2011). A total of some 2,000m of RC drilling will be carried out in conjunction with the RC drilling at the other two projects.
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Figure 5 HyMap image of the Lady Lauren area showing rock chip (red star) and HyMap alteration anomalies (Blue on the local trend in yellow)
Other Areas
Exploration work at Bulong, Laverton East (Pauls Well) and the other leases is ongoing and will continue as the leases are granted, as will the routine acquisitions and releases of ground according to results.
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
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ASX ANNOUNCEMENT 27 March 2013
EXPLORATION UPDATE
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Corporate
Aruma agreed to raise up to ~$2.5 million (before costs) under a placement of up to 50 million shares at a price of 5 cents per share (the Placement) in two tranches. The Placement is being made to professional and sophisticated investor clients of BBY Limited as Lead Manager to the offer.
Tranche 1 of the Placement was completed on 11 March 2013 raising $983,400 with the issue of 19.67 million shares.
Tranche 2, to raise up to a further $1.52 million through the issue of up to 30.34 million shares, will be completed following a meeting of shareholders on 17 April 2013 to ratify and approve the Placement. Included in tranche 2 is the placement of 5.3 million shares to directors (and associates) on the same terms, also subject to shareholder approval.
The funds raised will be used for targeted gold exploration programs on the Company’s existing advanced projects, Glandore, Gindalbie and Jundee South, located in the Kalgoorlie goldfields in Western Australia, as well as costs of the issue and general working capital. ENDS
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 Cannings Purple 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
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ASX ANNOUNCEMENT 27 March 2013
EXPLORATION UPDATE
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Figure 6: 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
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