News Articles for Aurumin

Brightstar Resources boss Alex Rovira says the company's vision of becoming an emerging mid-tier gold producer remains on course.

Aurumin Resources has launched a 7,400m multi-rig drilling blitz at its Sandstone project to upgrade and expand resources ahead of Brightstar's PFS next year. Funded by $6m in asset sales, the program targets Shillington, Two Mile Hill, McIntyre and Old Town Well, with diamond drilling to gather geotechnical data for mine design.

Aurumin Limited has divested its non-core assets for $6 million to fund its Sandstone gold project in WA's Mid West region. Sales to Newcam, Yilgarn Iron and Sierra include its Johnson Range, Mt Dimer and Sandstone non-gold rights. The funds will drive drilling to upgrade resources at Aurumin's Shillington, Two Mile Hill and other deposits, aligning with partner Brightstar Resources' pre-feasibility study to advance the 885,800-ounce Sandstone project towards production.

Kula Gold/Aurumin Ltd have reported a 98,534-tonne maiden resource grading 0.63g/t gold for tailings at their joint venture Mt Palmer project in WA's Goldfields, boosting the project's early monetisation potential. The inferred resource, defined by 60 air core drill holes, contains 1996 ounces of gold at a 0.4g/t cut-off, with preliminary metallurgical testwork showing an average 86 per cent gold recovery rate.

Aurumin Limited and Kula Gold have continued to resurrect a forgotten gem in Western Australia's Southern Cross Goldfields after hauling in another series of dazzling drill hits at the historic Mt Palmer mine. The latest reverse circulation drilling program delivered some serious eye candy for gold bugs, with a standout shallow intercept of 3m at 35.9g/t gold from just 17m, including 1m at 83.6g/t, catching investors' attention.

A compelling link-up between Aurumin Limited and Brightstar Resources will see the consolidation of their respective Sandstone gold assets into a major gold resource. The two companies have entered a scheme implementation deed, paving the way for a scrip-based deal that will enable Brightstar to acquire Aurumin via one Brightstar share for every four Aurumin shares.

A Brightstar–Aurumin merger may be just around the corner after both companies entered a trading halt pending a change of control transaction.

Aurumin Limited and Brightstar Resources are in merger talks to combine their Sandstone assets into a consolidated 2.4-million-ounce gold project. The proposed scrip deal would give Aurumin shareholders Brightstar equity and is aimed at de-risking and fast-tracking development. While still subject to due diligence, the move could establish one of WA's most significant near-term gold projects in the Goldfields.

Junior gold miner Brightstar Resources has laid plans to bring its Laverton and Menzies camps into production and merge with fellow resources pundit Aurumin.

Aurumin Limited has bagged high-grade hits in its first drilling program since 2013 at its Johnson Range project in the WA Goldfields, with a top hit of 6m grading 16.5g/t gold from 65m. The result includes 3m assaying 32.1g/t gold, with 1m at 76.1g/t gold, putting a shine on the company's infill and validation program at its current 64,700-ounce Gwendolyn resource.

Aurumin Ltd has moved closer to cashflows in a JV with contract miner Newcam, which will spend up to $4M to farm into its gold projects. One project has an almost shovel-ready 64,000 ounces waiting to be tolled. The company has also landed a quick million dollars after agreeing to sell the non-gold rights at another of its WA gold projects.

Aurumin will embark on a $4 million gold joint venture and a $1 million iron ore asset sale to fund its gold project development.

Aurumin Limited has wrapped up its latest RC drill program at the company's Johnson Range project, which is part of its wider Central Sandstone gold project in the WA Goldfields, as it aims to ramp up its existing 64,700-ounce resource. The project is on a granted mining lease and near multiple processing centres, potentially enabling near-term development and mining opportunities to cash in on a roaring gold price.

Aurumin Limited's first RC drilling program, along with pulp re-sampling of old holes, has thrown up some high-grade iron hits at its Central Sandstone project in WA's Mid West region, including a best 10m at 62% iron. The 2000m drilling campaign across two of Aurumin's three granted mining leases was co-funded as part of private company Newcam Mineral's due diligence before exercising its option to enter a joint venture with Aurumin.

Aurumin has launched a 1250m reverse circulation drilling program at the 64,700-ounce Gwendolyn gold deposit in its Johnson Range project, between Southern Cross and Sandstone. The validation and infill campaign is the first drilling undertaken since 2013 at the 803,000-tonne, 2.51g/t resource and, in the current heady gold price market, it has the potential to prove up an impeccably timed resource development opportunity.

Aurumin Ltd has wrapped up a 54-hole reverse circulation program at its Central Sandstone project in Western Australia's Mid West region. The holes were designed to test a clutch of iron-rich prospects key to a proposed exclusive option agreement with private entity Newcam Minerals. A successful joint venture deal could provide Aurumin with $7m in project funding.

Aurumin Ltd and potential joint-venture partner Newcam Minerals have kicked off drilling for iron ore at the Central Sandstone project in WA's Mid West. The two companies sealed a deal last October providing Newcam with a six-month option on the iron ore rights at the site. The companies will jointly fund the costs of the drill program.

Aurumin Ltd has sunk its teeth into the company's Plum Pudding gold deposit, revealing a 33 per cent rise in its resource after a recent drilling program at its Central Sandstone gold project, 520km northeast of Perth. The additional 4600 ounces of gold resources boosted its overall tally to 951,000 ounces, edging closer to a magical million ounces.

Aurumin is betting on striking gold at its Central Sandstone gold project in Western Australia, with results from its latest reverse-circulation (RC) drilling program to be revealed early in the ne

Aurumin has kicked off its latest 1600m drill program and will launch into its prospective Plum Pudding deposit where a mouth-watering 18m drill hit graded 25.8g/t gold at its Central Sandstone project about 520km northeast of Perth. The company also plans to target extensional and infill drilling at its Shillington deposit and aims to crash through the million-ounce milestone at the project shortly.

Aurumin is set to unleash the drill-bit again to try to replicate a previous stellar 18m drill hit grading 25.8g/t gold at its Central Sandstone project in WA about 520km northeast of Perth. The company plans to target extensional and infill drilling at its Shillington and Plum Pudding deposits and is hoping to breach the million-ounce milestone at the project soon.

Aurumin non-exec director and businessman Daniel Raihani has moved into the managing director's chair at the gold and iron ore explorer after the departure of company founder Brad Valiukas. Raihani has been a non-executive director at Aurumin for the past year and is an experienced accountant and businessman with various property and commercial interests.

Aurumin has pocketed a cash boost of $500,000 for the sale to private company Newcam Minerals of an exclusive six-month option on the iron ore rights at its Central Sandstone gold project in WA. Newcam will conduct due diligence across the site that consists of three mining leases and it may lead to a JV agreement between the two parties, resulting in a further $500,000 payment.

Aurumin is preparing to launch into a drilling campaign to expand its gold inventory and potentially find economic iron mineralisation at its range of projects around Western Australia's historic Mid West town of Sandstone. The company has a 946,000-ounce gold resource at its projects and recently retrieved 320 pulp samples to be assayed for the iron it identified from rock-chip sampling.

Aurumin has called in the experts to help it assess newly-found iron ore potential at its flagship Sandstone project in Western Australia's Mid West region, in what could become a significant add-on to its gold prospects. The company has engaged Southern Geoscience to undertake modelling of the existing geophysical datasets from its past gold exploration activities in a bid to generate iron ore targets.

Aurumin has unmasked what it says is a “real” high-grade iron ore discovery with the potential for significant scale at its flagship Sandstone gold project in Western Australia's Mid West region. The company has confirmed high-grade rock chip assays up to 67 per cent iron in banded-iron formations within a discontinuous strike of about 6km at the site.

Aurumin has unveiled a new suite of positive gold hits from four of its seven new targets at the company's 881,000-ounce Sandstone gold project in Western Australia following a first-pass reverse-circulation drilling campaign. With more imminent drilling to come, the latest finds build on results in May that included a bonanza 1m intersection of 344g/t from the company's Plum Pudding target.

ASX-listed Aurumin will focus its attention on its flagship Sandstone gold project in Western Australia's Mid West region after completing the last of its strategic divestments near Southern Cross in a deal with Kula Gold. The company has entered into a binding term sheet for Kula to acquire an initial 51 per cent interest in the Mt Palmer project for $250,000 in cash or shares.

Aurumin has smashed its previous ASX trading volume record out of the park after it revealed a bonanza gold grade hit of 1m going 344 grams per tonne from 43m in drilling at its Sandstone project in Western Australia's Mid West region. The immediate market response saw 56 million of the company's shares change hands – more than six times its previous record volume.

Aurumin has secured five new exploration tenements to stretch its near 1 million-ounce Sandstone gold operations that sit about 600km north-east of Perth in Western Australia's historic East Murchison region. The tenements sit on more than 60 square kilometres of the Youanmi terrane greenstone and consist of various historical workings and old deposits that make up several compelling targets.

Aurumin is looking to join the ranks of Western Australia's coveted million-ounce gold club after completing its latest reverse-circulation drill program at its Central Sandstone project, 520km north-east of Perth. Drilling was completed for 38 holes and tested seven new open-pit targets, as part of the company's bold push to extend its current 946,000-ounce gold resource.

Aurumin has kick-started its reverse-circulation drill campaign as it hunts for gold at its Sandstone project in WA. The program will consist of 40 drill-holes and test up to nine new open-pit targets. The existing resource is tantalisingly close to the magical one-million-ounce mark and the company will be looking for some solid results to help it burst through that all-important level.

Aurumin has bolstered its financial position at its Sandstone gold project in Western Australia's Mid West region, with a refreshed “drill-for-equity” agreement coming hot on the heels of it closing out on a convertible note. The company's rekindled deal with drilling contractor Topdrill will give management crucial choice and flexibility to increase drilling while preserving its cash.

Aurumin is primed and ready to get back to the drill rig at its Sandstone gold project in Western Australia's Mid West region after closing out on the final $1.07 million owing on a convertible note. The company says it will immediately exploit its financial freedom with a firm commitment to getting its Sandstone project back to “pouring gold bars”.

Following the sale of its Mt Dimer asset, Aurumin has wasted no time in making good its promise to home in on its Sandstone gold play, with the addition of a new tenement containing three historic gold mines. The mines produced 197 tonnes grading 10.58g/t gold for 67 ounces, 376 tonnes at 27.45g/t for 331 ounces and 82 tonnes at 5.92g/t for 15 ounces, respectively.

Aurumin has cleared the final outstanding amount owing on a convertible note and is now debt free having completed the sale of its suite of thirteen Mt Dimer tenements to Beacon Minerals for $3 million. Executed as part of a series of financial and corporate deals, the company is now squarely focused on further developing its recently acquired Sandstone Gold Project, 520km north-east of Perth.

Following several recent divestments, Aurumin has made good its promise to home in on its 946,000-ounce Sandstone gold project in Western Australia's Mid West region after revealing it had secured three new exploration licences. The move more than doubles the company's presence in the central project area as it gets closer to eradicating an overhanging $6.4 million debt relating to its Sandstone acquisition last year.

Aurumin has continued to level its exploration and financial focus further on its Sandstone gold project in Western Australia after selling the iron ore rights at its Mt Dimer operation to a subsidiary of Mineral Resources. It will retain exposure through progress and royalty payments as part of a $250,000 sale to Polaris Metals for iron ore rights at four of its Mt Dimer tenements.

Aurumin is sharpening its focus on its Sandstone gold project in WA after selling its Mt Dimer ground in a strategic decision that has edged it closer to wiping out an overhanging $6.4 million debt. It will pocket $3 million from Beacon Minerals for the sale of Mt Dimer, leaving just $1.4 million to pay to remove a convertible note relating to its Sandstone acquisition.

ASX-listed Aurumin looks set to pocket $3 million and a 2 per cent net smelter royalty from the Mt Dimer gold mining tenements after entering into a binding sale agreement for the site with Beacon Minerals. Beacon has also agreed to take $500,000 worth of Aurumin's fully-paid ordinary shares within five days, in exchange for an exclusivity period.