Aurumin Limited (ASX:AUN) Completes Gwendolyn Drilling Program
Drilling Program Completion
Aurumin Limited (ASX:AUN) has successfully completed a 1,353m Reverse Circulation (RC) drilling programme at its Johnson Range Gold Project. The Gwendolyn deposit, part of the Sandstone Gold Project, now holds an inferred JORC Mineral Resource of 64,700 ounces at 2.51g/t Au. Samples have been finalised and are en route to the laboratory, with results anticipated in mid-May.
Resource and Development Update
The drilling aimed to increase geological confidence in the existing inferred resources, supporting a potential upgrade to indicated classification. Subject to positive results, Aurumin plans to update the mineral resource and commence economic studies and mine permitting. The Gwendolyn deposit is situated on a granted mining lease with a rich mining history and is within haulage distance of multiple processing centres.
Executive Comments
Managing Director Daniel Raihani stated, “We are pleased that the program has been completed on schedule and that the samples are already on the way to the laboratory for assay. Our focus is on validating and upgrading the Gwendolyn resource, which we believe could become a key near-term development opportunity within our broader Sandstone strategy. With the deposit located on a granted mining lease and gold trading above A$5,000 per ounce, the timing couldn’t be better to advance this asset toward development.”
Motley Fool contributor Abbie Stokes 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.