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Aurumin Limited (ASX:AUN) - Developing the Gold Mining Story


Coffee with Samso Episode 154 is with Brad Valiukas, Managing Director of Aurumin Limited (ASX: AUN)


Aurumin Limited (ASX:AUN) listed on the Australian Stock Exchange (ASX) and has been developing the Sandstone project since the last time we had a Coffee in January 2022.


When we last spoke to Brad Valiukas, they had just acquired the project. The strategy was to do more drilling to build a better database of the project. During this time, Aurumin has made a lot of progress with four drilling programs with extensive intersections of gold mineralisation.


Drilling results:

  • 11/07/2022 - 344.00m @ 1.29 g/t Au

  • 11/08/2022 - 224.00m @ 1.50 g/t Au

  • 05/09/2022 - 352.80m @ 1.50 g/t Au

  • 12/09/2022 - 242.70m @ 1.20 g/t Au

Looking at these drill holes, I see some hidden points about the grades which will be carried in the upcoming resource model. The entire length may appear to only have a slightly higher grade than the resource, but there are much better numbers within the intersection. To have an average of 1.5 g/t Au, you will definitely see much greater numbers within the length of the hole.


One also needs to understand that the potential higher grades within the holes will also allow the flexibility of changing the style of mining. I see the potential of Sandstone as a matter of when, and not if, it will be positive. The geology will create opportunities and the recent drilling is a clear indication that my assumptions are not too far off the mark.


Another important point to consider is the potential lack of motivation of neighbouring deposits to go to mining. If this were the case, Aurumin could consolidate their inventory and that would work perfectly for the model.


Chapters:


00:00 Start

00:20 Introduction

01:08 Updates from Brad.

01:40 Discussion about the data points.

03:44 Discussion about the intercepts.

06:10 Potential and mineralization in Two Mile Hill.

07:44 What was the motivation in chasing the tenement?

09:46 The Sandstone Province.

11:59 What do we need to know about the new package?

13:02 Johnson Range.

14:09 What is happening in Southern Cross?

14:57 The market going forward.

15:39 News flow.

16:37 Why Aurumin?

17:32 Conclusion



PODCAST



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About Brad Valiukas - Managing Director

BEng (Mining), GradCert (Econ), Member AusIMM


Mining Engineer and experienced executive with over 20 years operational, management and executive experience covering underground and open pit operations across multiple commodities around Australia and internationally.


Brad's most recent position is that of Manager – Technical Services for Northern Star Resources. He was previously COO at Focus Minerals, COO at ABM Resources and held senior roles at Mincor Resources.


About Aurumin Limited (ASX: AUN)

Aurumin Limited (ACN 639 427 099) (Aurumin or Company) is an Australian company incorporated on 28 February 2020 in Western Australia as a mineral exploration company to allow the reorganisation of projects held by Aurumin Mt Dimer Pty Ltd (formerly Acertim Resources Pty Ltd) (Aurumin Mt Dimer).


In particular, the Company was established to enable the restructure of the Mt Dimer, Mt Palmer and Johnson Range projects into separate project entities and further consolidate additional tenements, and to progress these gold exploration projects in the Southern Cross and Kalgoorlie regions. Since incorporation, the Company has acquired 100% legal and beneficial ownership of Aurumin Mt Dimer and Aurumin Mt Palmer Pty Ltd (formerly Mt Palmer Gold Pty Ltd), and has entered into a further 3 tenement acquisition agreements and applied for further tenements such that it now has an interest in 29 tenements across 4 projects.

 

Disclaimer

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