✦ How has the Sandstone project been developing? Brad Valiukas, Managing Director of Aurumin Limited (ASX:AUN) brings updates.
Earlier this year, Mr. Valiukas had been sharing news about the company's strategies. At that time, the company had just acquired the project and their strategy was to increase drilling to build a better database. Since then, Aurumin has made good progress. They have four drilling programs with extensive intersections of gold mineralisation.
Listen to their previous conversations here:
Developing a Gold Mine with Aurumin Limited (ASX: AUN)
Drilling results:
11/07/2022 - 344.00m @ 1.29 g/t Au
11/08/2022 - 224.00m @ 1.50 g/t Au
05/09/2022 - 352.80m @ 1.50 g/t Au
12/09/2022 - 242.70m @ 1.20 g/t Au
Noel's analysis of the results are as follows:
"Looking at these drill holes, I see some hidden points about the grades which will be carried in the upcoming resource model. The entire length may appear to only have a slightly higher grade than the resource, but there are much better numbers within the intersection. To have an average of 1.5 g/t Au, you will definitely see much greater numbers within the length of the hole."
For Noel, the positive potential of Sandstone is a matter of when and not if. The geology will create opportunities and the recent drilling results are optimistic. The potential higher grades within the holes also allows the flexibility of changing the style of mining.
What is in Aurumin's favour is also the potential lack of motivation of neighbouring deposits to go to mining. The company could consolidate their inventory and that would work perfectly for the model.
Listen to Brad Valiukas here:
Chapters:
00:00 Start
00:20 Introduction
01:08 Updates from Brad.
01:40 Discussion about the data points.
03:44 Discussion about the intercepts.
06:10 Potential and mineralization in Two Mile Hill.
07:44 What was the motivation in chasing the tenement?
09:46 The Sandstone Province.
11:59 What do we need to know about the new package?
13:02 Johnson Range.
14:09 What is happening in Southern Cross?
14:57 The market going forward.
15:39 News flow.
16:37 Why Aurumin?
17:32 Conclusion
About Brad Valiukas
Managing Director
BEng (Mining), GradCert (Econ), Member AusIMM
Mining Engineer and experienced executive with over 20 years operational, management and executive experience covering underground and open pit operations across multiple commodities around Australia and internationally.
Brad's most recent position is that of Manager – Technical Services for Northern Star Resources. He was previously COO at Focus Minerals, COO at ABM Resources and held senior roles at Mincor Resources.
About Aurumin Limited (ASX: AUN)
Aurumin Limited (ACN 639 427 099) (Aurumin or Company) is an Australian company incorporated on 28 February 2020 in Western Australia as a mineral exploration company to allow the reorganisation of projects held by Aurumin Mt Dimer Pty Ltd (formerly Acertim Resources Pty Ltd) (Aurumin Mt Dimer).
In particular, the Company was established to enable the restructure of the Mt Dimer, Mt Palmer and Johnson Range projects into separate project entities and further consolidate additional tenements, and to progress these gold exploration projects in the Southern Cross and Kalgoorlie regions. Since incorporation, the Company has acquired 100% legal and beneficial ownership of Aurumin Mt Dimer and Aurumin Mt Palmer Pty Ltd (formerly Mt Palmer Gold Pty Ltd), and has entered into a further 3 tenement acquisition agreements and applied for further tenements such that it now has an interest in 29 tenements across 4 projects.
Contact Aurumin Limited
Suite 2, Ground Floor
17 Ord Street
West Perth WA 6005
Phone: +61 8 6555 2950
Email: admin@aurumin.com.au
Website: https://aurumin.com.au
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