Show Notes
Aruma Resources Ltd (ASX) managing director Grant Ferguson talked with Proactive about the latest drilling results from the Tillex Project in Ontario, Canada, where the company has extended the copper-silver mineralised zone to around 230 metres of strike.
Ferguson said the Phase 2 drilling program was continuing to deliver broad, shallow intercepts, with mineralisation beginning close to the base of the overburden and continuing into fresh rock. He highlighted the width and shallow nature of the intercepts as an encouraging feature of the developing system.
Ferguson said the company had a significant amount of further newsflow ahead, with around nine drill holes being processed in the laboratory at the time of the interview and additional drilling continuing. He said Aruma expected a steady flow of results through to the end of the year.
The company has also recently expanded its project footprint to approximately 28.6 square kilometres, giving Aruma further exposure to the Tillex trend as well as areas considered prospective for both copper and gold.
Following a capital raising of around $3.1 million, Ferguson said Aruma was fully funded for its ongoing drilling and exploration activities, including approximately 1,000 metres of diamond drilling still to be completed.
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