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ARUMA RESOURCES LIMITED — Capital/Financing Update 2018
Jan 31, 2018
64273_rns_2018-01-31_498f4269-cabc-46ed-bcfd-46e2ff33419b.pdf
Capital/Financing Update
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1 February 2018
ASX Announcement
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INITIAL DRILL RESULTS CONFIRM NEW GOLD SYSTEM
ASX: AAJ
Capital Structure 437M Shares on Issue 12M Options on issue
HIGHLIGHTS
-
40% of results received
-
Results confirm the Sediment Hosted Gold Model
-
Strong grades and thick gold mineralisation zones intersected
-
Mineralisation from surface
Board of Directors
Non-Executive Chairman Paul Boyatzis
Managing Director
Peter Schwann
Non-Executive Director
Mark Elliott
- 95% of all drill holes intersected gold mineralisation
SIGNIFICANT DRILLING RESULTS
-
5m @ 3.8g/t Au from 9m incl. 1m @ 15.6g/t Au from 10m (SDRC006) – 2m @ 4.2g/t Au from 92m to EOH (SDRC017)
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16m @ 1.3g/t Au from 8m incl. 7m at 2.1 from 11m (SDRC020)
Company Secretary Phillip MacLeod
Exploration Manager Kathryn Cutler
Active Projects
SLATE DAM GOLD PROJECT
BEOWULF GOLD PROJECT
RESULTS
Aruma Resources Limited (ASX: AAJ) is pleased to announce the results from the first 20 holes of its maiden drilling program at Slate Dam. The program was designed to test the large historical 7km[2] gold anomaly identified at Slate Dam (EL25/553).
The best results returned so far have been significant with 5m @ 3.8/t Au from 10m (SDRC006) and 7m @ 2.1g/t Au from 11m (SDRC020), Figure 1 and Table 1.
The true significance of the intersection in SDRC20 is the discovery of a mineralised zone of 16m @1.34g/t Au from 8m (including 7m @ 2.1g/t Au from 11m). The presence of outcropping mineralisation to the south of the drill hole is shown in Figure 2 below. All intersections are open along strike and more repetions are likely to occur to the east.
Aruma’s Managing Director, Peter Schwann, said;
Head Office
Level 1, 6 Thelma Street West Perth, WA 6005 T +61 8 9321 0177 F +61 8 9226 3764
E [email protected] W www.arumaresources.com
Postal Address
Locked Bag 2000, Nedlands, WA 6909
“These results justify the drilling the previously known gold anomalism. The extent of the historic gold anomaly is limited only by drilling and sampling and will continue in the favourable stratigraphic trends to the north and south. The decision to control the whole stratigraphic belt is now becoming important both at Slate Dam and Beowulf. Major producers are now acquiring land positions in the underexplored Kurnalpi-Bulong terranes.”
The drilling program was completed yesterday with 40 holes completed for 4,020m. Less than half the assay results have been returned to date, with the remaining results expected before the end of February.
ABN 77 141 335 364
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Figure 1. Slate Dam drill intercepts returned to date with the new lode in Purple.
The points to note in Figure 1 are the regular spaced repetitions of mineralisation and the apparent combination of structure and mineralisation in shales as predicted in the model. The red dashed trends are defined by gold anomalies below the new lode and are possibly extending above the new lode. This will be tested in the follow up drilling after all the data has been assessed.
Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 2
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Figure 2 Surface expression of the mineralised stratigraphy outlined by yellow dashed line (looking south)
Geology Summary
The lithologies intercepted were consistent and typical Archaean greenstone rock-types, namely conglomerate, greywacke, siltstone and shale. Where mineralised, the shale was sulphidic or iron stained after sulphides as predicted in the model. A full interpretation of geology will be done after all the assays are back and the historic drill core is studied prior to the next drilling phase.
The assay results reported are based upon 1m intervals where gold values >0.1g/t has been reported as anomalous, with significant grade zones >0.5g/t Au with no more than 2m internal dilution. A complete record of all results to date is shown in Tables 1, 2 and 3.
Some holes were terminated in mineralisation, due to issues with keeping samples dry and uncontaminated, due to the groundwater inflow. The drilling rig was upgraded to re-enter and extend these holes, and the results of these extensions will be released as soon as available.
For further information please contact: Peter Schwann Managing Director
Michael Cairnduff Media contact
Aruma Resources Limited Cannings Purple Telephone: +61 8 9321 0177 Mobile: 0406 775 241 Mobile: +61 417 946 370 Email: [email protected] Email: [email protected]
Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 3
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 AIG and Australasian Institute of Mining and Metallurgy. Mr Schwann is Managing Director and a full time employee of the Company. Mr Schwann has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve’. Mr Schwann consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.
Forward Looking Statement
Certain statements contained in this document constitute forward looking statements. Such forward-looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. These estimates and assumptions while considered reasonable by the Company are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, achievements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward-looking statements. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “nominal”, “conceptual” and similar expressions. There can be no assurance that Aruma plans to develop exploration projects that will proceed with the current expectations. There can be no assurance that Aruma will be able to conform the presence of Mineral Resources or Ore Reserves, that any mineralisation will prove to be economic and will be successfully developed on any of Aruma’s mineral properties. Investors are cautioned that forward looking information is no guarantee of future performance and accordingly, investors are cautioned not to place undue reliance on these forward-looking statements.
Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 2018.
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Figure 1. Slate Dam significant assays >1g/t Au from RC drill holes SDRC001 to SDRC020
| SLATE DAM >1g/t INTERSECTIONS | SLATE DAM >1g/t INTERSECTIONS | SLATE DAM >1g/t INTERSECTIONS | SLATE DAM >1g/t INTERSECTIONS | SLATE DAM >1g/t INTERSECTIONS | SLATE DAM >1g/t INTERSECTIONS | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Hole_ID | Easting | Northing | RL | Dip | Azi | Hole Depth |
From | To | Interval (m) |
Au (g/t) |
| SDRC001 | 395245 | 6603319 | 340 | -60 | 65 | 94 | 54 | 55 | 1 | 2.1 |
| SDRC006 | 395683 | 6602967 | 341 | -60 | 65 | 100 | 10 | 15 | 5 | 3.79 |
| incl | 10 | 13 | 3 | 6.2 | ||||||
| incl | 11 | 12 | 1 | 15.6 | ||||||
| 100 | 60 | 61 | 1 | 1.6 | ||||||
| SDRC013 | 396092 | 6602597 | 342 | -60 | 65 | 112 | 93 | 94 | 1 | 4.2 |
| SDRC014 | 396035 | 6602575 | 341 | -60 | 65 | 118 | 25 | 27 | 2 | 1.24 |
| SDRC017 | 396460 | 6602764 | 340 | -60 | 65 | 100 | 14 | 15 | 1 | 1.79 |
| SDRC017 | 396460 | 6602764 | 340 | -60 | 65 | 100 | 92 | 94 | 2 | 4.21 |
| SDRC020 | 396428 | 6602641 | 340 | -60 | 65 | 80 | 8 | 32 | 24 | 1.03 |
| incl | 8 | 24 | 16 | 1.34 | ||||||
| incl | 11 | 18 | 7 | 2.07 |
Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 4
Table 2. Slate Dam significant assays >0.5g/t Au from RC drill holes SDRC001 to SDRC020
SLATE DAM SIGNIFICANT INTERSECTIONS
| SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS | SLATE DAM SIGNIFICANT INTERSECTIONS |
|---|---|---|---|---|---|---|---|---|---|---|
| Hole_ID | Easting | Northing | RL | Dip | Azi | Hole Depth |
From | To | Interval (m) |
Au (g/t) |
| SDRC001 | 395245 | 6603319 | 340 | -60 | 65 | Incl. | 54 | 55 | 1 | 2.1 |
| Incl. | 59 | 60 | 1 | 0.57 | ||||||
| Incl. | 92 | 94 | 2 | 0.53 | ||||||
| SDRC002 | 395796 | 6603017 | 339 | -60 | 65 | Incl. | 11 | 16 | 5 | 0.74 |
| Incl. | 52 | 53 | 1 | 0.57 | ||||||
| & | 58 | 60 | 2 | 0.83 | ||||||
| & | 64 | 65 | 1 | 0.56 | ||||||
| & | 78 | 79 | 1 | 0.72 | ||||||
| SDRC003 | 395614 | 6602932 | 318 | -60 | 245 | Incl. | 68 | 71 | 3 | 0.65 |
| SDRC005 | 395637 | 6602946 | 340 | -60 | 65 | Incl. | 21 | 24 | 3 | 0.94 |
| & | 38 | 39 | 1 | 0.54 | ||||||
| SDRC006 | 395683 | 6602967 | 341 | -60 | 65 | Incl. | 10 | 13 | 3 | 6.2 |
| 100 | 10 | 15 | 5 | 3.79 | ||||||
| Incl. | 11 | 12 | 1 | 15.6 | ||||||
| Incl. | 33 | 34 | 1 | 0.53 | ||||||
| & | 46 | 47 | 1 | 0.8 | ||||||
| & | 54 | 55 | 1 | 0.93 | ||||||
| & | 60 | 61 | 1 | 1.6 | ||||||
| SDRC006 | 395683 | 6602967 | 341 | -60 | 65 | 65 | 67 | 2 | 0.66 | |
| SDRC007 | 395752 | 6602997 | 340 | -60 | 65 | Incl. | 8 | 14 | 6 | 0.53 |
| Incl. | 44 | 45 | 1 | 0.7 | ||||||
| 86 | 87 | 1 | 0.51 | |||||||
| SDRC009 | 395688 | 6602859 | 341 | -60 | 65 | 100 | 22 | 25 | 3 | 0.81 |
| 84 | 93 | 10 | 0.5 | |||||||
| SDRC011 | 395949 | 6602756 | 340 | -55 | 65 | Incl. | 2 | 8 | 6 | 0.97 |
| 100 | 79 | 100 | 21 | 0.55 | ||||||
| SDRC012 | 396138 | 6602617 | 340 | -60 | 65 | 100 | 15 | 24 | 9 | 0.69 |
| SDRC013 | 396092 | 6602597 | 342 | -60 | 65 | 112 | 15 | 23 | 8 | 0.64 |
| 112 | 32 | 33 | 1 | 0.51 | ||||||
| 112 | 93 | 94 | 1 | 4.2 | ||||||
| Incl. | 106 | 108 | 2 | 0.78 | ||||||
| SDRC014 | 396035 | 6602575 | 341 | -60 | 65 | 118 | 25 | 27 | 2 | 1.24 |
| 118 | 77 | 79 | 2 | 0.72 | ||||||
| SDRC015 | 395989 | 6602555 | 341 | -60 | 65 | 100 | 42 | 45 | 3 | 0.71 |
| SDRC016 | 395944 | 6602533 | 341 | -60 | 65 | 100 | 87 | 91 | 4 | 0.9 |
| 100 | 87 | 94 | 7 | 0.62 | ||||||
| SDRC017 | 396460 | 6602764 | 340 | -60 | 65 | 100 | 14 | 15 | 1 | 1.79 |
| SDRC017 | 396460 | 6602764 | 340 | -60 | 65 | 100 | 92 | 94 | 2 | 4.21 |
| SDRC018 | 396420 | 6602757 | 340 | -60 | 65 | 112 | 37 | 38 | 1 | 0.72 |
| SDRC020 | 396428 | 6602641 | 340 | -60 | 65 | 80 | 8 | 24 | 16 | 1.34 |
| 80 | 12 | 44 | 36 | 0.72 |
Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 5
able 3. Slate Dam anomalous assays >0.1 to <0.5g/t Au from RC drill holes SDRC001 to SDRC020
| SLATE DAM ANOMALOUS INTERSECTIONS | SLATE DAM ANOMALOUS INTERSECTIONS | SLATE DAM ANOMALOUS INTERSECTIONS | SLATE DAM ANOMALOUS INTERSECTIONS | SLATE DAM ANOMALOUS INTERSECTIONS | SLATE DAM ANOMALOUS INTERSECTIONS | SLATE DAM ANOMALOUS INTERSECTIONS | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Hole_ID | Easting | Northing | RL | Dip | Azi | Hole Depth |
From | To | Interval (m) |
Au (g/t) |
| SDRC001 | 395245 | 6603319 | 340 | -60 | 65 | 94 | 48 | 62 | 14 | 0.23 |
| 82 | 94 | 12 | 0.13 | |||||||
| SDRC002 | 395796 | 6603017 | 339 | -60 | 65 | 94 | 2 | 17 | 15 | 0.43 |
| 44 | 79 | 35 | 0.24 | |||||||
| 89 | 94 | 5 | 0.21 | |||||||
| SDRC003 | 395614 | 6602932 | 318 | -60 | 245 | 73 | 67 | 74 | 7 | 0.34 |
| SDRC005 | 395637 | 6602946 | 340 | -60 | 65 | 43 | 19 | 41 | 22 | 0.27 |
| SDRC006 | 395683 | 6602967 | 341 | -60 | 65 | 100 | 45 | 84 | 39 | 0.24 |
| SDRC007 | 395752 | 6602997 | 340 | -60 | 65 | 100 | 3 | 18 | 15 | 0.38 |
| 43 | 60 | 17 | 0.18 | |||||||
| 77 | 91 | 14 | 0.19 | |||||||
| SDRC008 | 395680 | 6602859 | 341 | -60 | 244 | 106 | 66 | 73 | 7 | 0.2 |
| SDRC009 | 395688 | 6602859 | 341 | -60 | 65 | 100 | 32 | 60 | 28 | 0.12 |
| SDRC010 | 395735 | 6602880 | 341 | -60 | 65 | 100 | 26 | 37 | 11 | 0.17 |
| 66 | 78 | 12 | 0.2 | |||||||
| 91 | 99 | 8 | 0.15 | |||||||
| SDRC011 | 395949 | 6602756 | 340 | -55 | 65 | 100 | 3 | 25 | 22 | 0.35 |
| 19 | 25 | 6 | 0.13 | |||||||
| 38 | 72 | 34 | 0.23 | |||||||
| SDRC013 | 396092 | 6602597 | 342 | -60 | 65 | 112 | 105 | 110 | 5 | 0.46 |
| SDRC014 | 396035 | 6602575 | 341 | -60 | 65 | 118 | 14 | 28 | 14 | 0.32 |
| SDRC015 | 395989 | 6602555 | 341 | -60 | 65 | 100 | 20 | 33 | 13 | 0.19 |
| 40 | 52 | 12 | 0.27 | |||||||
| SDRC018 | 396420 | 6602757 | 340 | -60 | 65 | 112 | 2 | 13 | 11 | 0.24 |
| 61 | 69 | 8 | 0.22 | |||||||
| 100 | 106 | 6 | 0.37 | |||||||
| SDRC019 | 396380 | 6602739 | 340 | -60 | 65 | 106 | 38 | 64 | 26 | 0.28 |
| 70 | 76 | 6 | 0.3 |
Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 6
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APPENDIX 1 –
JORC Code, 2012 Edition – Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).
| Criteria | **JORC Code explanation ** | Commentary |
|---|---|---|
| Sampling techniques |
• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
• (RC) drill chips were sampled in 1m intervals from a rig-mounted cone- splitter. The splitter was levelled at the beginning of each hole using a bulls-eye spirit level. A sample of approximately 3kg was produced. All samples were submitted for assay. The splitter reject material was collected every metre in green bags and put aside. • (HDD) core was submitted consistently every 1m, as well as based on geological intervals and at geological contacts. Half core was sampled throughout the hole. |
| Drilling techniques |
• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
• Reverse Circulation (RC) • Historical Diamond Drilling (HDD) |
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| Criteria | **JORC Code explanation ** | Commentary |
|---|---|---|
| Drill sample recovery |
• Method of recording and assessing core and chip sample recoveries and results assessed. |
• (RC) Sample recovery was visually estimated by volume for each 1m bulk sample bag, and recorded digitally in the sample database. Very little variation was observed. • (HDD) Core – Core measured by tape. |
| • Measures taken to maximise sample recovery and ensure representative nature of the samples. |
• (RC) The cone splitter was regularly cleaned with compressed air at the completion of each rod. |
|
| Logging | • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative of quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. |
• (RC) All samples were geologically logged in full. Logging is qualitative in nature, for geology, alteration, mineralisation, and weathering. • (HDD) all core was logged in full including lithology, alteration and structures. |
| Sub- sampling techniques and sample preparation |
• If core, whether cut or sawn and whether quarter, half of all core taken. • If non-core, whether fiffled, tube-sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicates/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. |
• (RC) Samples were taken using a static cone splitter. Material sampled was dry, however could be wet from ground water intersected in the drilling. The sample wetness was recorded in the logging. The sample size is considered to be appropriate to the style of mineralisation. A separate sample is sieved from the splitter reject material into chip trays and used for geological logging. Duplicate samples were collected from the cone splitter directly off the rig, every 50 samples. Certified reference material samples were submitted to the laboratory every 100 samples, to ensure 2 standards every sample batch. Certified reference material submitted was similar in geological nature and mineralogy to the type of mineralisation anticipated at this project. • (HDD) half core was sampled. |
| Quality of assays data and |
• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. |
• (RC) Samples were submitted to Intertek Kalgoorlie, where they were prepared and processed and then sent to Intertek Perth for fire assay. Fire assay is a total digestion method. |
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| Criteria | **JORC Code explanation ** | Commentary |
|---|---|---|
| laboratory tests |
• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their deviations, etc. |
The lower detection limit of 0.005ppm Au are considered fit for purpose. • (HDD) Samples were assayed for Au and As by fire assay at ALS Kalgoorlie. Detection limit of 0.01ppm for gold analysis and 5ppm for arsenic analysis. |
| • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. |
• (RC) Standard CRM was submitted every 100 samples, and duplicate samples were taken every 50 samples. • (HDD) N/A |
|
| Verification of sampling and assaying |
• The verification of significant intersections by either independent of alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. |
• (RC) No independent geologists were engaged to verify results. Aruma’s Project geologist is supervised by the Aruma Exploration Manager. No adjustments were made to any assays or data. • (HDD) N/A |
| Location of data points |
• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other location used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. |
• (RC) All co-ordinate information was collected using a hand-held GPS utilising GDA94, Zone 51. Approximately 10% of holes in the drill program were surveyed down- hole to determine any deviation. • (HDD) |
| Data spacing and distribution |
• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied • Whethersample compositinghas beenapplied. |
• (RC) drill holes were drilled on NE-SW traverses (065-245◦). The collar locations are recorded in Table 1 of this release. No sample compositing has been applied to the data. • (HDD) Diamond holes are sparse >200m apart. |
| Orientation of data in relation to geological structure |
• Whether the orientation is sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
• (RC) Angled holes were drilled approximately orthogonal to the dip of the target lithology. In places where the causeways built over the salt lake ended, the rig drilled the opposite direction to test the extents of lithologies. • (HDD) diamond holes were drilled either sub-vertical or orthogonal to the dip of the stratigraphy. |
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| Criteria | **JORC Code explanation ** | Commentary |
|---|---|---|
| Sample Security |
• The measures taken to ensure sample security. |
• Standard QAQC protocols followed. • Samples submitted to the laboratory at the end of the day they were drilled. • (HDD) N/A |
| Audits or reviews |
• The results of any audits or reviews of sampling techniques and data. |
• (RC) Not applicable as no audits or reviews of sampling techniques have been undertaken. • (HDD) N/A |
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section).
| Criteria | **JORC Code explanation ** | Commentary |
|---|---|---|
| Mineral tenement and land tenure status |
• Type, reference name/number, location and ownership including agreements of material issues with third parties such as joint ventures, partnerships, overriding royalties, native title intersects, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
• These results are from the Aruma Resources Ltd’s Slate Dam Project. These results are on E25/553, which is owned 100% by Aruma Resources Ltd, through a 100% owned subsidiary. |
| Exploration done by other parties |
• Acknowledgement and appraisal of exploration by other parties. |
• Previous exploration of gold mineralisation has occurred on the Slate Dam project, pre-dominantly through air core drilling for gold (Au) and diamond drilling byDelta Gold andPlacer Dome. |
| Geology | • Deposit type, geological setting and style of mineralisation. |
• The gold prospect is categorized as an orogenic gold deposit, with similarities to most other gold deposits in the Yilgarn Craton. The Slate Dam project is located within the Eastern Goldfields Superterrane Greenstonesmade predominantly of volcanic/volcanoclasticrocks. |
| Drill hole information |
• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: oEasting and northing of the drill hole collar. oElevation of RL (Reduced Level – elevation above sea level in metres) of the drill hole collar. oDip and azimuthof thehole. |
• Drilling data is supplied in Table 1. |
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| Criteria | **JORC Code explanation ** | Commentary |
|---|---|---|
oDown hole length and interception depth. If the exclusion of the information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain whythisisthe case. |
||
| Data aggregation methods |
• In reporting exploration results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. |
• (RC) As all samples are 1m intervals there has been no weighting applied. Intervals are reported in a simple arithmetic mean grade. Significant mineralisation considered >0.1g/t Au, with max internal dilution of 5m, high grade zones considered >0.5g/t Au, with max 2m internal dilution. • (HDD) N/A |
| Relationship between mineralisation widths and intercept lengths |
• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length,truewidth not known). |
• (RC) For the holes drilled at -60◦the true thickness is approximately equal to the interval thickness. • (HDD) diamond holes were drilled either sub-vertical or orthogonal to the dip of the stratigraphy. |
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view ofdrill hole collar locations and appropriate sectional views. |
• See figures in release. Collar details are published in Table 1. |
| Balanced reporting |
• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
• All currently received results have been reported. |
| Other substantive exploration data |
• Other exploration data, if meaningful and Material, should be reported including (but not limited to): geological observations; geophysical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
• See release details. |
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| Criteria | **JORC Code explanation ** | Commentary |
|---|---|---|
| Further work | • The nature and scale of planned further work (eg test for lateral extensions of depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions including the main geological interpretations and future drilling areas, providedtheinformation isnotcommercially sensitive |
• Aruma plans to continue its planned 4,000m initial RC program at its Slate Dam Gold Project. |