Aruma Resources Reports Positive Phase 1 Drilling Results at Tillex Project
Key points
- Multiple high-grade copper-silver intersections reported
- Phase 1 drilling confirms potential for large-scale copper-silver system
- Phase 2 drilling program has commenced
- Corporate cash balance at quarter's end of $0.82 million
Full summary
Aruma Resources Limited (ASX: AAJ) reports significant results from Phase 1 diamond drilling at the Tillex Copper-Silver Project in Ontario, Canada. The drilling delivered multiple wide, high-grade copper-silver intersections, including 89m @ 2.04% Cu and 12.31g/t Ag from 38.8m. The results validate the Tillex Project as a significant copper development asset. A downhole Electromagnetic (DHEM) survey confirmed the presence of a strong, continuous conductor extending along strike and at depth. Phase 2 drilling, comprising 3,600m, has commenced and is ongoing. Corporately, Aruma had a cash balance of $0.82 million at quarter's end.
Outlook
Aruma Resources is optimistic about the potential of the Tillex Project to become a significant copper-silver development asset, based on the positive results from Phase 1 drilling and the ongoing Phase 2 drilling program.
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