ASX: AAJ - Aruma Resources
- Matt Birney
- 7 hours ago
- 3 min read
Aruma Resources: This is unusual – sulphide copper with length AND grade!
Aruma Resources Managing Director Grant Ferguson on 2GB & 6PR Bulls N' Bears Report
ASX-listed Aruma Resources Managing Director Grant Ferguson talks to Matt Birney on Bulls N’ Bears about Aruma’s first up copper drill hits in Canada that awoke a sleeping copper giant.
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RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls and Bears, brought to you today by copper focused explorer Aruma Resources
Matt Birney - ASX code - AAJ.
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Aruma Resources, Grant Ferguson.
Matt Birney - Hi Grant.
Grant Ferguson - Hi Matt.
Matt Birney - Well, back in February Aruma picked up the Tillex copper project in Canada near the famous Kid Creek Copper operation for what is starting to look like a song. The project already had some historic drill results that were seriously impressive and now, just months later, Aruma has backed up those old numbers with its own maiden drill campaign that appears to be bang on the money.
Matt Birney - Okay, Grant, we'll get to those numbers in a minute. Just orientate me firstly, where is your Tillex copper project and what did you pay for it?
Grant Ferguson - The Tillex project is located in the Timmins Tier 1 area of Ontario, Canada. The acquisition is approximately 1.83 million over a four or five year period, small cash, mainly shares spread over time and that's for the mineral rights and the land itself.
Matt Birney - Okay, so you've just got your very first drill holes into this thing. Hit me with the best copper numbers.
Grant Ferguson - 89 meters at 2.04% copper from 38.8 meters, 87 meters at 1.99% copper from 30 meters, 59 meters at 1.91% copper from 38 meters again.
Matt Birney - What are the best higher grade intersections within that? Even though those grades are pretty good, I must say.
Grant Ferguson - 16.87 meters at 4% copper from 93 meters and 5.6 meters at 5.36% copper and that was at 98 meters. This is all sulphide.
Matt Birney - Copper's clearly doing the heavy lifting here, but I can see scattered throughout your results there's a bit of silver too, which is a bit exciting. Was this thing ever drilled for silver?
Grant Ferguson - It certainly was drilled for copper and silver and some of the results, historical results we received, were 5 meters at 355 grams per tonne silver from 89 meters, 42 meters at 53 grams per tonne silver and that also had 2.12% copper and that was from 53. And even in our recent drilling, we've been getting numbers of up to 3.9 meters at 43.6 grams from 74 and 5.6 meters at 58.89 grams per tonne silver.
Matt Birney - So what were the best historical drill numbers at this project? Because you're obviously attracted by them originally, right?
Grant Ferguson - That's correct. You know, some of the best numbers we saw, 110 meters at 1.69% copper from 34 meters, 98.2 meters at 1.82% copper and that was from 35.8 meters.
Matt Birney - How much overburden is on this thing? Like where does it start from?
Grant Ferguson - It starts from approximately 25 to 35 meters down and the sulphide's only been drilled down to 150 meters depth. So it's still open a long strike and at depth.
Matt Birney - Grant Ferguson from Aruma Resources.
Grant Ferguson - Thanks for joining me on Bulls N' Bears and remember, we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney, and this is Bulls N' Bears.
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