Strategic Expansion of Tillex Project & $3.5m Placement
| Stock | Aruma Resources Ltd (AAJ.ASX) |
|---|---|
| Release Time | 12 Aug 2026, 9:42 a.m. |
| Price Sensitive | Yes |
Aruma Resources Expands Tillex Project and Secures $3.5m Funding
- Acquisition of 94 contiguous mineral claims adjacent to Tillex Copper Project
- Expansion of Tillex Project area to 18.6km²
- Firm commitments for $3.5m equity raise to fund exploration
- Exploration activities to commence in current quarter
Aruma Resources Limited (ASX: AAJ) has expanded its Tillex Copper-Silver Project in Ontario, Canada, by acquiring 94 contiguous mineral claims, increasing the project area to 18.6km². The acquisition extends the interpreted NE-SW trend of the project to 2.4km, enhancing its expansion potential. The new claims host known copper occurrences, multiple gold anomalies, and untested geophysical targets. Aruma has also secured firm commitments for a $3.5 million equity raise to fund exploration, including Phase-2 drilling. Exploration activities, including field reconnaissance, airborne magnetic surveys, and EM surveys, are set to commence in the current quarter.
Aruma Resources plans to raise $3.5 million through equity placement to fund exploration.
Aruma Resources intends to advance exploration across the expanded project area, focusing on identifying and prioritizing copper and gold targets. Exploration activities are expected to commence in the current quarter.