Aruma Resources Limited (ASX: AAJ) has moved quickly to create a portfolio of gold prospective projects in the highly sort after Pilbara region of Western Australia.
The Portfolio consists of the Melrose Gold Project – which is located in close proximity to Northern Star Resources’ Paulsens Gold Mine – and the Saltwater Gold Project, situated approximately 250km to the south-east.
Managing Director, Peter Schwann, said both Projects are interpreted to sit near the same regional structure (the Nanjilgardy Fault) reported as the primary source of gold mineralisation at Paulsens and also at Northern Star’s Mt Olympus Gold Mine.
The Projects have been applied for following a review by Aruma of its project holdings, designed to rationalise its current project portfolio and to pursue new potentially value-accretive projects.
Mr Schwann said the Exploration Leases were applied for over vacant land after a comprehensive in-house research study of Pilbara gold identified prospective areas.
The study utilised open file data as well as the research papers from the Capricorn Orogeny Study (Geology Survey of WA) which involved major field mapping with integrated geological, geochronological, geochemical and prospectivity studies.
The company will now embark upon on a detailed initial ground truthing and targeting program to rank priority exploration areas within the new Project areas.
The Melrose Gold Project consists of four Exploration Licence Applications (ELA08/3183, ELA08/3184, ELA08/3188 and ELA47/4362) and covers a total area of 90 sq. km. It is located approximately 105 km south of the mining town of Pannawonica on the border of the Ashburton and West Pilbara Mineral Fields.
The Paulsens Deposit was discovered and mined in the early 1930s and was then called the Melrose Mine. It is situated in a +3M oz. gold camp and most production has come from multiple lodes at the Paulsen Mine.
Modern evaluation and mining of the Paulsens mine by NuStar Mining Corporation commenced in May 2004 and the Paulsens process plant poured the first bar in June 2005. In July 2010, Northern Star Resources took over the mine and successfully mined it until late 2017 producing up to 100,000 oz. Au per year through both existing and new ore shoots.
The Saltwater Gold Project consists of three Exploration Licence Applications (ELA52/3816, ELA52/3818 and ELA52/3825) and covers a total area of 311km2. It is located approximately 100 kilometres south-west of the regional mining centre of Newman.
Mr Schwann said Aruma’s interest in the Saltwater Project was instigated by prospectors who have found several gold nuggets in the area and targeting of the area with subsequent Minedex research defined several anomalous areas
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