EXPLORATION & DEVELOPMENT

Slate Dam campaign back underway

Aruma has big ambitions for gold prospect

Michael Quinn

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The junior kicked off a circa-5000m RC campaign in mid-December, with 974m completed prior to Christmas and assay results expected this month and next.

Aruma claims Slate Dam has geology with similarities to the 2 million ounce Invincible deposit at Kambalda that grades more than 4 grams per tonne gold.

As well as Slate Dam, Aruma holds the Beowulf exploration project east of Broad Arrow, and ground in the Pilbara.

Aruma started the recently completed December quarter with A$890,000 cash.

In October it reported it was raising a further $770,000 by issuing new shares at 1.1c each.

Shares in Aruma were unchanged at 3.2c in afternoon trade, capitalising the company at $14 million.

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