Aurumin expands gold footprint at Sandstone with five new exploration tenements
Proactive Investors
Published Apr 22, 2024 12:50
Updated Apr 22, 2024 13:30
Aurumin expands gold footprint at Sandstone with five new exploration tenements
Aurumin Ltd (ASX:AUN) is expanding the gold footprint of its 881,000-ounce Central Sandstone Project after entering an agreement to acquire a further five exploration tenements and 60 square kilometres of Youanmi Terrane Greenstone in the Sandstone area of Western Australia.
The project, 520 kilometres northeast of Perth, is part of the company’s Sandstone Operations, which includes the Birrigrin and Johnson Range projects, and has a total resource of 946,000 ounces of gold.
Aurumin's acquired tenements have existing targets, including historical workings and mineralisation trends. This includes the Good Hope deposit from which 29 tonnes at 23.17 g/t gold was mined in the early 1900s.
The new tenements consolidate and extend the company’s footprint directly north of the mining leases that hold the 881,000-ounce Central Sandstone resource, where Aurumin aims to support a gold mining operation in the future.
Central Sandstone Project with newly acquired tenements.
Aurumin managing director Brad Valiukas said: “After repositioning the company for growth, we are pleased to be further investing into our flagship 946,000-ounce Sandstone Gold Operations with these additional tenements.
“We are focused on the Central Sandstone Project and generating the critical mass required for future production, and have recently completed drilling of seven new targets and two extensional positions targeting additional open pit material to support an operational restart.
“These additional tenements are part of our longer-term plan to achieve sustainable production at Sandstone and provide more exploration opportunities into the medium term.”
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