Aruma Resources Ltd (ASX:AAJ) Reports High-Grade Results at Fiery Creek Project
Project Overview
Aruma Resources Ltd (ASX:AAJ) has announced promising results from its Fiery Creek Project, located near Mount Isa, Queensland. Recent induced polarisation (IP) geophysical surveys have highlighted two significant near-surface chargeability high anomalies, indicating potential sulphide mineralisation at the Piper Prospect.
Key Findings
The geophysical survey defined two shallow IP anomalies over a 350m strike length that remain open along strike. These anomalies coincide with high-grade surface samples and historical drilling results, reinforcing the area’s exploration potential. Latest rock chip sampling yielded assay results including 20.9% copper, 8.5g/t silver, and 850ppm antimony, extending known mineralisation over 520m.
Ground gravity surveys are also underway, with processing expected soon to refine drilling targets, focused on commencing in early 2025. The outcomes of these studies are anticipated to enhance understanding of potential mineralised systems within the region.
Comments from Management
Grant Ferguson, Managing Director of Aruma Resources, commented, “These IP geophysical results provide an excellent starting point for the Fiery Creek Project. The scale of the coherent IP anomaly, coupled with coinciding geochemical anomalies, establishes it as the initial high-priority target for mineralisation.” He added the company is eager to solidify existing targets and explore new opportunities in 2025.
Future Plans at Fiery Creek and Wilan Project
In addition to rock sampling and IP surveys, Aruma plans to assess high-resolution satellite data and conduct structural analysis at the Fiery Creek Project. The company is also focusing on the Wilan Project in South Australia, where initial assessments of targets and heritage approvals are underway, paving the way for future exploration activities.
This strategic update underscores Aruma’s commitment to advancing exploration efforts and establishing robust operational frameworks across its project portfolio.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.