Aurumin Limited (ASX:AUN) Commences Drilling at Gwendolyn Deposit
Drilling Program
Aurumin Limited has commenced a 1,250m Reverse Circulation (RC) drilling program at its Johnson Range Gold Project to validate and infill the Gwendolyn deposit, which has an inferred JORC Mineral Resource of 64,700 ounces at 2.51g/t Au.
Resource Update
The drilling aims to increase geological confidence in the existing inferred resources, potentially upgrading them to indicated classification and supporting future mining studies. The program is expected to complete in five days, with assay results due mid-May 2025.
Future Plans
Subject to positive drilling results, Aurumin will update the mineral resource and commence economic studies and mine permitting. The Gwendolyn deposit is situated on a granted mining lease with historical high-grade production, enhancing its development potential.
Executive Comments
Daniel Raihani, Managing Director, commented, “This is the first drilling at Johnson Range in over a decade, and we’re pleased to be hitting the ground running during this historic gold price environment. 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. This program sets a strong foundation for potential production scenarios and supports our goal of re-establishing operations in the broader region.”
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.
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