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ARUMA RESOURCES LIMITED — Interim / Quarterly Report 2016
Jan 28, 2016
64273_rns_2016-01-28_900f3712-7782-454e-9aac-2e32f66f2c49.pdf
Interim / Quarterly Report
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ASX ANNOUNCEMENT 29 January 2016
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2015
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QUARTERLY ACTIVITIES STATEMENT For the quarter ended 31 December 2015
HIGHLIGHTS
Glandore Gold project
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1,200m diamond hole EIS funded and drilled for $200,000
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State Government subsidised 50% of direct drilling costs ($90,000)
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Nine sulphidic mineralised alteration zones intersected
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240m of sulphide rich alteration zones assayed
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Six mineralised zoned intersected with values up to 2.58g/t Au
Corporate
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Approximately $463,000 raised from rights issue
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R and D refund for $530,684 after costs (received 8[th] January)
Glandore Deep Drilling
Co-Funded Drill Program / Exploration Incentive Scheme
As previously advised, Aruma was successful in its application for Round 11 of the WA Governments Co-funded exploration drilling programme under the Exploration Incentive Scheme (EIS).
Aruma secured funding for 50% of direct drilling cost up to $200,000 at Aruma’s ongoing Glandore Project. The funding was utilised for a single deep diamond drill hole designed to test for parallel lodes under the lake surface.
The Glandore deep drilling intersected ~1,200m of coarse grained mafic sediment with 240m of shaly chloritic altered zones with copper and tellurium anomalism detected by portable XRF. The core from these areas was cut and sampled for assay. The significant (>0.1g/t Au) results are detailed in table 1 below.
Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ 1st Floor, 6 Thelma St West Perth W.A. 6005 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 9321 0177 I F +61 8 9226 3764 I W www.arumaresources.com
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ASX ANNOUNCEMENT 29 January 2016
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QUARTERLY ACTIVITIES STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2015
| Depth m d/h | Zone | Alteration | Trace | Au-FA25 | Au-Rp1 | Au-Rp2 | ||
|---|---|---|---|---|---|---|---|---|
| 89-90 | Supergene | Cb-Qz-Py | Cpy-Ep | 0.17 | ||||
| 111-112 | Supergene | Cb-Qz-Py | Cpy-Ep | 0.14 | ||||
| 138-139 | Supergene | Cb-Qz-Py | Cpy-Ep | 0.15 | ||||
| 150-151 | Supergene | Cb-Qz-Py | Cpy-Ep | 0.16 | 0.46 | 0.98 | ||
| 223-224 | MZ 2 | Cb-Qz-Py | 0.11 | |||||
| 308-309 | Axial Planar | Cb-Qz-Py-Bt | Cpy | 0.61 | 0.62 | |||
| 309-310 | Axial Planar | Cb-Qz-Py-Bt | Cpy | 0.16 | ||||
| 873-874 | Eastern | Cb-Qz-Py-Bt | Cpy | 0.5 | 0.59 | |||
| 996-997 | Johnston | Cb-Qz-Py-Bt | 2.58 | 2.56 | ||||
| 997-998 | Johnston | Cb-Qz-Py-Bt | 0.23 | |||||
| 1000-1001 | Johnston | Cb-Qz-Py-Bt | 0.12 | |||||
| 1063-1064 | MZ 5 | Cb-Qz-Py-Bt | 1.07 | 0.91 |
Table 1 ADH 001 Intersection Summary for Au over 100ppb, showing the 4 expected zones and the additional 2 mineralised zones (MZ 2 and MZ 5). All measurements are in meters down hole.
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Figure 1 Google Earth image of total drilling at Glandore with latest air core holes in blue. The arrow displays the projection of the drill hole.
Aruma Resources Limited
ABN 77 141 335 364 ASX: AAJ 1st Floor, 6 Thelma St West Perth W.A. 6005 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 9321 0177 I F +61 8 9226 3764 I W www.arumaresources.com
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ASX ANNOUNCEMENT 29 January 2016
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QUARTERLY ACTIVITIES STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2015
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Figure 2
The assay intersections (dashed shapes) from the Table 1 Projected onto the diagrammatic drill hole section.
Results
The drillhole was completed on time and on budget, with full core recovery achieved with orientation. The very thick sequence of Mafic Sediment (Volcanic Wacke similar to the Golden Mile Dolerite) had sulphide and carbonate throughout with nine zones of mineralised (pyrite – biotite – carbonate ± chalcopyrite – quartz) shaly material totalling nearly 240m.
The assay grades returned two assays above one gram per tonne with the full assays above 100ppb Au showing the continuous mineralisation trends which demonstrate that the mineralising trends are consistent along strike and down structure.
The Glandore system is a mineralised gold-sulphur system and has many locally mineralised smaller shoots such as Axial Planar and Supergene. The focus of the next phase of exploration will be the evaluation of the smaller near surface gold mineralisation.
Aruma Resources Limited
ABN 77 141 335 364 ASX: AAJ 1st Floor, 6 Thelma St West Perth W.A. 6005 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 9321 0177 I F +61 8 9226 3764 I W www.arumaresources.com
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ASX ANNOUNCEMENT 29 January 2016
FOR THE QUARTER ENDED 31 DECEMBER 2015
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QUARTERLY ACTIVITIES STATEMENT
Projects Summary
| EASTERN GOLDFIELDS | Glandore Hub | Glandore Gold Project- 40km east of Kalgoorlie-Boulder EIS Application successful Deep Diamond hole intersected nine parallel mineralised structures JV discussions inprogress |
|
|---|---|---|---|
| Clinker Hill GoldLease - 35km east of Kalgoorlie-Boulder Soil Samples planned to the east to cover possible extensions |
|||
| Regional Projects |
Bulloo Downs Copper Project– 100km south of Newman Deep Diamond drilling completed to test emissivity targets |
Table 2 Project Status and Activity Table
Proposed Exploration Activities for Q3 FY2015-16
Aruma's lease holdings are constantly being appraised and currently total approximately 2,700km[2] .
All of Aruma’s projects have strong metal indicators and proven high grade potential. The ongoing work comprises:
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Bulloo Downs Copper Project – JV discussions.
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Glandore – Deep diamond hole completed and assays received, LA-ICP-MS Pyrite Study underway.
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Glandore Hub – Clinker Hill – Soil sampling program and data interpretation.
The Company is considering joint venture partners on all projects due to the scale and scope of work required.
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 other potential project opportunities.
Aruma Resources Limited
ABN 77 141 335 364 ASX: AAJ 1st Floor, 6 Thelma St West Perth W.A. 6005 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 9321 0177 I F +61 8 9226 3764 I W www.arumaresources.com
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ASX ANNOUNCEMENT 29 January 2016
QUARTERLY ACTIVITIES STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2015
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Corporate
The Company completed pro-rata non-renounceable rights offer on the basis of 1 new share for every 2 shares held at an issue price of 0.6 cents per share. The rights issue was underwritten up to $290,000 by Peter McSweeney and an entity associated with an Aruma director, Paul Boyatzis. The offer raised approximately $463,000 which will be used to identify and evaluate new resource projects as well existing projects, for working capital and to meet offer expenses.
Management has taken measures to significantly reduce administration costs. Staff and directors have taken remuneration cuts of 40% as of September 2015, which together with downsizing the office space, has reduced overheads and costs by some 50% for the foreseeable future.
The Company had cash at 31 December 2015 of $696,000. In early January 2016 the Company received an R&D tax offset payment of some $531,000 after costs.
For further information please contact:
Peter Schwann Managing Director Aruma Resources Limited Ph: +61 8 9321 0177 Mobile: +61 417 946 370 [email protected]
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. 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.
Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ 1st Floor, 6 Thelma St West Perth W.A. 6005 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 9321 0177 I F +61 8 9226 3764 I W www.arumaresources.com
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ASX ANNOUNCEMENT 29 January 2016
QUARTERLY ACTIVITIES STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2015
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SUMMARY OF TENEMENTS
| AUSTRALIA | Interest at beginning of Quarter | Interest at end of Quarter |
|---|---|---|
| Glandore(Gold) | ||
| M25/327 | 100% Aruma Exploration Pty Ltd (wholly owned subsidiary of Aruma Resources Limited) |
100% Aruma Exploration Pty Ltd |
| M25/329 | ||
| M25/330 | ||
| P25/2073 | ||
| P25/2074 | ||
| P25/2075 | ||
| P25/2076 | ||
| P25/2089 | ||
| P25/2090 | ||
| P25/2091 | ||
| P25/2092 | ||
| P25/2093 | ||
| P25/2094 | ||
| P25/2103 | ||
| P25/2117 | ||
| P25/2118 | ||
| P25/2119 | ||
| P25/2153 | ||
| P25/2154 | ||
| P25/2202 | ||
| P25/2203 | ||
| P25/2204 | ||
| P25/2215 | ||
| P25/2216 | ||
| Clinker Hill(Gold) | ||
| P25/2201 | 100% Aruma Exploration Pty Ltd | 100% Aruma Exploration Pty Ltd |
| P25/2319 | 100% Aruma Exploration PtyLtd - Under application. |
100% Aruma Exploration PtyLtd |
| P25/2320 | 100% Aruma Exploration PtyLtd - Under application. |
100% Aruma Exploration PtyLtd |
Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ 1st Floor, 6 Thelma St West Perth W.A. 6005 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 9321 0177 I F +61 8 9226 3764 I W www.arumaresources.com
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ASX ANNOUNCEMENT 29 January 2016
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QUARTERLY ACTIVITIES STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2015
| AUSTRALIA | Interest at beginning ofQuarter | Interest at end ofQuarter |
| Bulloo Downs Copper Project | ||
| E52/2024 | Option to earn-in for up to a 90% interest(Dynasty) |
Option to earn-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 | Option toearn-in for up to a 90% interest(Atlas/Warwick) |
Option toearn-in for up to a 90% interest(Atlas/Warwick) |
| E52/2329 | Option to earn-in for up to a 90% interest(Atlas/Warwick) |
Option to earn-in for up to a 90% interest(Atlas/Warwick) |
| E52/2330 | Option to earn-in for up to a 90% interest(Atlas/Warwick) |
Option to earn-in for up to a 90% interest(Atlas/Warwick) |
| E52/2332 | Option to earn-in for up to a 90% interest(Atlas/Warwick) |
Option to earn-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) |
| E52/2429 | Option to earn-in for up to a 90% interest(Atlas/Warwick) |
Option to earn-in up to a 90% interest (Atlas/Warwick) |
| E52/2464 | Option to earn-in for up to a 90% interest(Dynasty) |
Option to earn-in for up to a 90% interest(Dynasty) |
| E52/2802 | Option to earn-in for up to a 90% interest (Atlas/Warwick) - Under application |
Option to earn-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. Transfer from Plasia Pty Ltd. Option to acquire JV interest. |
| E52/3096 | 100% Aruma Exploration PtyLtd- Under application. |
100% Aruma Exploration Pty Ltd- Under application. |
| E52/3172 | 100% Aruma Exploration Pty Ltd- Under application. |
100% Aruma Exploration Pty Ltd- Under application. |
Aruma Resources Limited
ABN 77 141 335 364 ASX: AAJ 1st Floor, 6 Thelma St West Perth W.A. 6005 Locked Bag 2000, Nedlands WA 6909, Australia T+61 8 9321 0177 I F +61 8 9226 3764 I W www.arumaresources.com
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