Aurumin’s winning run has continued with impressive results from the third hole of an RC drill campaign at its Central Sandstone gold project in WA including a 352.8m intersection at 1.5 g/t gold from 267.2m.
The company says mineralisation continued down the hole with another 145.2m section going 0.5 g/t gold from 620m as the explorer aims to further define its resource at the Two Mile Hill deposit 130km west of Leinster.
The more than 350m intercept contained a number of high-grade hits with one 8.4m section going 9.3 g/t gold from 392.2m including 0.6m reading an outstanding 119 g/t gold.
A deeper 25m section returned 5.4 g/t gold from 531.2m including a 0.85m going 80.6 g/t gold from 532.1m.
Other significant hits within the larger 350m section include a 12.8m intercept at 2.9 g/t from 298m and a 14.8m intersection grading 2.2 g/t gold from 461.2m.
Two Mile Hill currently has a mineral resource estimate of 14.2 million tonnes at 1.1 g/t for a total of 500,000 ounces of gold.
Aurumin Managing Director, Brad Valiukas said: “This is another great result and, along with the previously released diamond results, continues to add to the picture at Two Mile Hill. Along with the recently completed RC drilling at Shillington, this sets us up to now model the Shillington and Two Mile Hill deposits as a single geological complex, with known grade in the banded iron formation, mafic and tonalite.”
The latest result was the third straight hole at the project to return mineralisation.
In July the company returned assay results at Two Mile Hill from the first hole drilled at the site as part of the latest campaign that recorded a broad 344m hit going 1.29 g/t gold.
A second hole assayed at the deposit last month recorded a 224m intersection going 1.5 g/t gold from 229.6m.
The 224m section included a 49.6m intercept recording 2 g/t from 269m, a 20.2m segment going 2.6 g/t from 325.2m in addition to a higher grade 12m hit at 3.7 g/t gold from 381.4m.
The most significant of Central Sandstone’s gold resource comes from the Two Mile Hill underground resource with Shillington adding a further 66,000 ounces.
Results from the company’s recent RC campaign indicate a continuity of gold between Two Mile Hill and Shillington with future exploration aiming to firm the hypothesis up.
Aurumin bought the Central Sandstone gold project for $12 million in cash and shares from Middle Island Resources in December last year.
The previous owner’s scoping study found the operation could be particularly attractive if the 500,000-tonne per annum processing plant was upgraded to 750,000 tpa and additional mill feed was secured.
Aurumin is still waiting on the final results from its latest campaign and if the broad intercepts continue at a steady grade then the company could well be in a position to add to its already significant resource at Central Sandstone and to the rich gold history of the area .
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
