AI assistant
ARUMA RESOURCES LIMITED — Interim / Quarterly Report 2015
Oct 29, 2014
64273_rns_2014-10-29_861a5df4-01c3-47cb-8657-71cae4d6f7b0.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
==> picture [219 x 123] intentionally omitted <==
Aruma Resources Limited
ABN 77 141 335 364 ASX: AAJ
ASX ANNOUNCEMENT 30 October 2014
QUARTERLY ACTIVITIES STATEMENT
For the quarter ending 30 September 2014
HIGHLIGHTS
-
Bulloo Downs Copper Project exploration
-
2,000km[2] HyMap survey at Bulloo Project completed
-
Increased lengths of mineralisation at all prospects
-
Widths of gossans up to 10m
-
Historical workings and gossans define extensions
-
Glandore
-
2,519m in 68 holes of aircore drilling completed on lake
-
Composites submitted
Corporate
- Cash of $1.9M (as at 30 September)
Aruma Resources Limited (ASX: AAJ) (Aruma) , an active Western Australian gold and copper explorer, has increased the area of its Bulloo Downs Copper Project (in WA’s Ashburton region) to near 2,800km [2] . A total of over 2,800 km [2] (with some surrounding ground overlap) has now been flown with HyMap mineral mapping with over 10 prospects identified to date with more probable in the new mapping.
The Company considers Bulloo Downs Copper Project to be a premier project. It contains extensive high grade copper outcrops and is considered to be highly prospective for gold, silver, lead and zinc.
Additional leases are being negotiated with other leaseholders and Aruma pegged an ELA (ELA52/3172) in the north western area after the end of the Quarter (Figure 1). Aruma is now the major landholder in the area and has secured all the identified mineralised structures. With the granting of E52/2887 after the close of the quarter the full area of identified mineralisation is open for evaluation.
The surrounding leases contain the extensions of the previously announced structures as well as the additional Mountain Maid, Ned's Gap, Koode Magi and Keep it Dark copper prospects.
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 30 October 2014
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 SEPTEMBER 2014
==> picture [124 x 69] intentionally omitted <==
Previously announced sampling at Scotties returned copper values to 42.9%, 1.51 g/t gold and 10.3 g/t silver.
The historic data is now being collated and augmented with new surveys to give comprehensive magnetics and HyVista maps. The databases have been placed with a specialist company for restructuring to allow maximum value to be gained from all the data.
Sampling by hand-held XRF and rock chip sampling was completed along the Scotties, Keep It Dark, and Hard to Find prospects on part of the recently acquired tenement holding outside of the original Bulloo Downs lease holding of E52/2024.
==> picture [469 x 392] intentionally omitted <==
Figure 1 The Bulloo Downs leases with structures, prospects and geology (GSWA 250K) RC Drilling planned
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 30 October 2014
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 SEPTEMBER 2014
==> picture [124 x 69] intentionally omitted <==
Current Exploration Program
Gaining access to a larger landholding with multiple targets has required a major data accumulation and additional geophysics in HyVista and magnetics to be flown. So that the project area can be evaluated as a whole, with targets ranked for drilling, the previously proposed drilling will now take place in the December quarter. The areas will again be Heritage cleared for drilling where necessary (with some 15km in first order targets already done), including the high grade gossan at the east end of Madison and the high values at Lachlan and Chandra. The other prospects will be evaluated and sampled prior and during the drilling programme.
| Location | Action | Length m | Width m | Cu% | Au ppm | Heritage Status |
|---|---|---|---|---|---|---|
| Scotties | DRILL | 100 | 2 | 42.93 | 1.5 | Old workings |
| Madison | DRILL | 3000 | 3 | 42.6 | 1 | Cleared |
| Lachlan | DRILL | 600 | 3 | 32.97 | <0.1 | Cleared |
| Chandra | DRILL | 8000 | 2 | 7.63 | <0.1 | Cleared |
| Terry’s | DRILL | 800 | 2 | 0.57 | <0.1 | Cleared |
| Koode Maji | DRILL | 100 | 2 | 15.9 | <0.1 | Old workings |
| Ned’s Gap | DRILL | 1100 | 2 | 16.7 | <0.1 | Old workings |
Table 1 Drilling targets with tenor and dimensions
The dimensions of the gossans, together with grade and proven continuance at depth (in previously reported BMRC 13) make the targets attractive and these will be drilled in a 3,000 to 5,000m RC program in the coming December 2014 quarter.
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 30 October 2014
==> picture [124 x 69] intentionally omitted <==
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 SEPTEMBER 2014
==> picture [409 x 608] intentionally omitted <==
Figure 2 Aruma exploration areas in Western Australia
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
ASX ANNOUNCEMENT 30 October 2014
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 SEPTEMBER 2014
==> picture [124 x 69] intentionally omitted <==
| EASTERN GOLDFIELDS | Glandore Hub | Glandore Gold Project- 40km east of Kalgoorlie-Boulder 2,519m of air core drilling completed Awaitingassays |
|
|---|---|---|---|
| Clinker Hill GoldLease - 35 km east of Kalgoorlie-Boulder PoW submitted |
|||
| Regional Projects | Jundee South Gold Project- 20km south of Jundee Mine Status - RC drilling completed with strong mineralisation found JV discussion inprogress |
||
| Bulloo Downs Copper Project– 10km south of Newman Status – RC drilling of 6 tier 1 targets planned HyMap and magnetics reprocessing completed Area increased to 2,800km2 |
Table 2 Aruma Project Status with descriptions and activities
Glandore
The air core programme announced in mid-September was completed during that month with 68 holes for 2,519m which covered the HyMap and Fluid Flow targets on the lake.
Glandore is considered to be both highly prospective for gold as well as highly amenable for the development and exploitation of new deposits. In late June Aruma were informed that the Native Title Claimants had dropped their claim, negating any need for Heritage Agreements and heritage surveys.
This also allowed the previously disputed leases P25/2215 and P25/2216 to be granted in the quarter.
Figure 3 below shows the area drilled and the relationships with the lake and the geology, with the targets and drilling being done on the Fluid Flow areas previously reported in various quarterly, half yearly, and annual reports and also public presentations.
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 | 5
ASX ANNOUNCEMENT 30 October 2014
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 SEPTEMBER 2014
==> picture [124 x 69] intentionally omitted <==
==> picture [443 x 507] intentionally omitted <==
Figure 3
Google ® image with Fluid Flow drilling targets at Glandore.
The completed holes are blue. The pink areas are >1.0g/t Au outlines from previous work and Fluid Flow. The yellow dashes are the Steves Line trend.
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 | 6
ASX ANNOUNCEMENT 30 October 2014
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 SEPTEMBER 2014
==> picture [124 x 69] intentionally omitted <==
Clinker Hill
==> picture [389 x 550] intentionally omitted <==
----- Start of picture text -----
Drill Hole
----- End of picture text -----
Figure 4 Proposed RC drilling on geochemistry and geology at Clinker Hill
The PoW was completed and submitted at the start of the December 2014 quarter for approximately 1,500m of RC drilling on the strong gold soil sampling results (Figure 4 above).
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 | 7
ASX ANNOUNCEMENT 30 October 2014
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 SEPTEMBER 2014
==> picture [124 x 69] intentionally omitted <==
Jundee South
No work was completed in the quarter.
Proposed Exploration Activities for Q2 FY2014-15
Aruma's lease holdings are constantly being appraised and are currently approximately 2,900km[2 ] including lease applications.
All of Aruma’s projects have strong metal indicators and proven high grade potential. The ongoing work comprises:
-
Bulloo Downs Copper Project – Interpretation of Magnetics and HyMap surveys for major RC drilling programme in November
-
Glandore – Assays and re-assays to be received recent aircore drill programme on Lake Yindarlgooda
-
Glandore Hub – Clinker Hill - PoW and RC drilling to be completed in December 2014 quarter
-
Jundee South - JV discussions in progress
The Company started preparation of the the R&D refund documentation in the quarter, which is expected to net some $600K. With cash of $1.9M at 30 September 2014, Aruma is funded for the coming exploration year.
Aruma will also be appraising leases that are becoming available in the Wiluna-Kalgoorlie terrain, especially where adjacent to current projects or with resources or intersections. In addition to its current projects in Western Australia, Aruma continues to evaluate potential project opportunities.
For further information please contact:
Peter Schwann Managing Director Aruma Resources Limited Ph: +61 8 6389 1799 Mobile: +61 417 946 370 [email protected]
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 | 8
ASX ANNOUNCEMENT 30 October 2014
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 September 2014
==> picture [124 x 69] intentionally omitted <==
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 a full time employee of the Company. Mr Schwann has sufficient relevant experience to qualify as a Competent Person as defined in the JORC Code (2012) and consents to the inclusion of this information in the form and context in which it appears All exploration results reported have previously been released to ASX and are available to be viewed on the Company website www.arumaresources.com.au. The Company confirms it is not aware of any new information that materially affects the information included in the original announcement. The Company confirms that the form and context in which the Competent Person’s findings are present have not been materially modified from the original announcements.
Table 3 SUMMARY OF TENEMENTS
| AUSTRALIA | Interest at beginning of Quarter | Interest at end of Quarter |
|---|---|---|
| Glandore(Gold) | ||
| M25/327 M25/329 M25/330 P25/2089 P25/2090 P25/2091 P25/2092 P25/2093 P25/2094 P25/2103 P25/2117 P25/2118 P25/2119 P25/2153 P25/2154 P25/2199 P25/2202 P25/2203 P25/2204 |
100% Aruma Exploration Pty Ltd (wholly owned subsidiary of Aruma Resources Limited) |
100% Aruma Exploration Pty Ltd |
| P25/2073 P25/2074 P25/2075 P25/2076 |
100% Aruma Exploration Pty Ltd under transfer from Plasia Pty Ltd |
100% Aruma Exploration Pty Ltd |
| P25/2215 P25/2216 |
Nil | 100% Aruma Exploration Pty Ltd under transfer from Copley Pty Ltd |
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 | 9
ASX ANNOUNCEMENT 30 October 2014
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDING 30 SEPTEMBER 2014
==> picture [124 x 69] intentionally omitted <==
| AUSTRALIA | Interest at beginning of Quarter | Interest at end of Quarter |
| Clinker Hill(Gold) | ||
| P25/2201 | 100% Aruma Exploration PtyLtd | 100% Aruma Exploration PtyLtd |
| Bulloo Downs Copper Project | ||
| E52/2024 | Option to farm-in for up to a 90% interest(Dynasty) |
Option to farm-in for up to a 90% interest(Dynasty) |
| E52/2283 | Option to earn-in up to a 90% interest(Atlas/Warwick) |
Option to earn-in up to a 90% interest (Atlas/Warwick) |
| E52/2317 | Option to earn-in up to a 90% interest(Atlas/Warwick) |
Option to earn-in up to a 90% interest (Atlas/Warwick) |
| E52/2327 | Option to earn-in up to a 90% interest(Atlas/Warwick) |
Option to earn-in up to a 90% interest (Atlas/Warwick) |
| E52/2328 | Nil | Option to farm-in for up to a 90% interest(Atlas/Warwick) |
| E52/2332 | Nil | Option to farm-in for up to a 90% interest(Atlas/Warwick) |
| E52/2337 | Option to earn-in up to a 90% interest(Atlas/Warwick) |
Option to earn-in up to a 90% interest (Atlas/Warwick) |
| E52/2351 | Option to earn-in up to a 90% interest(Atlas/Warwick) |
Option to earn-in up to a 90% interest (Atlas/Warwick) |
| E52/2464 | Option to farm-in for up to a 90% interest(Dynasty) |
Option to farm-in for up to a 90% interest(Dynasty) |
| E52/2802 | Nil | Option to farm-in for up to a 90% interest (Atlas/Warwick) - Under application. |
| E52/2803 | Option to earn-in up to a 90% interest(Atlas/Warwick) |
Option to earn-in up to a 90% interest (Atlas/Warwick) |
| E52/2887 | 100% Aruma Exploration Pty Ltd. Under application and transfer from Plasia Pty Ltd. Option to acquire JV interest. |
100% Aruma Exploration Pty Ltd. Under application and transfer from Plasia Pty Ltd. Option to acquire JV interest. |
| E52/3096 | Nil | 100% Aruma Exploration PtyLtd |
| Jundee South(Gold) | ||
| E53/1461 | 100% Aruma Exploration PtyLtd | 100% Aruma Exploration PtyLtd |
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 | 10