Aruma Resources Limited (ASX: AAJ) has intersected anomalous gold intersected in oxidised shale in its maiden drilling programme at the Melrose Gold Project in the Pilbara region of Western Australia.
The company completed a 48 hole 4,784m reverse circulation (RC) drilling programme at the Melrose Project which targeted the Gossan Hill prospect located five km from the Paulsens Gold Mine.
Drilling intersected anomalous gold and confirmed the presence of anomalies on an east-west structural target at Gossan Hill. No high-grade gold mineralisation was intersected. The location of the anomalous material in an oxidised siltstone-greywacke contact is encouraging but the lack of shales in the area is interpreted as a possible reason for the lack of grade and sulphides.
The drilling results have confirmed the intersected low-grade mineralised host to be on a contact with the coarse greywacke, a fine siliceous sulphidic siltstone. The contact Aruma investigated in its drilling is on a shale-dolomite contact, similar to the Mt Olympus and Paulsens gold projects in the region.
The company plans to undertake a mapping programme and chip sampling program on historic geophysics as a next phase of exploration at the Project.
Aruma has also expanded the Melrose Project area via the award of the balloted exploration licence, E08/3499, which comprises seven blocks over a 20 sq. km area. The Exploration Licence contains the Mt McGrath Gold Project. The area has reported gold in veins, close to the contact of the Wyloo Group Mt McGrath Formation pelites (shale) and Hamersley Marra Mamba Iron Formation cherts.
The target contact Aruma was investigating is on the shale-dolomite contact, similar to Mt Olympus and Paulsens.
R&D Tax Incentive
The company also reported it has received a Government R&D Tax Incentive refund of A$830,677.05 for the 2020-21 year. This amount represents 43% of allowable research carried out by Aruma using its recently registered “Mineralisation Model Incorporating Volcanic Ash Sequences” research project.
This model is a development of the previous “Hydrothermal Gold in Sediments” model, and new discoveries in previously unexplored terrains in Australia underline the potential of the model.
This regional targeting technique is used to generate and explore all the company’s gold projects. Aruma believes that this model has the potential to deliver successful outcomes at its projects.
With the 2020-21 R&D Tax Incentive refund received, this brings the total R&D Tax Incentive refund received by Aruma to in excess of A$5.5m in 12 years.
For further information please visit: https://www.arumaresources.com/
