History and Historical Production

The Mt Dimer mining centre was discovered by WMC between 1987 and 1989. It was mined by Tectonic Resources between 1994 and 1997 and produced over 125koz of gold and including 600,000t mined from six open pits and one underground at 6.4g/t.

Aurumin divested the mining centre tenements to Beacon Minerals in late 2023 and retains a 2% net smelter return royalty on gold production above 12,000 ounces, and a 2% net smelter return royalty on all other minerals.

Aurumin retains a substantial landholding surrounding the mining centre with gold and iron ore prospectivity.

Location and Access

The Mt Dimer Gold Project is located approximately 120km northeast of the Southern Cross townsite in the Shire of Yilgarn, Western Australia.

The project can be accessed from Perth by the Great Eastern Highway to the Mt Walton Rd, between Southern Cross and Coolgardie and then by local roads.

Geology

The Mt Dimer Project is in the southern area of the Marda-Diemals Greenstone Belt within the Southern Cross Domain of the Yilgarn Craton.

Gold mineralisation at Mt Dimer is orogenic in nature and occurs primarily as Archean quartz lode structures with associated lateritic and supergene mineralisation developed in the regolith.

Iron ore mineralisation around the Mt Dimer region are associated with banded iron formation (BIF) units.

Iron Ore

The region around the Mt Dimer Project is a well known producer of high-grade Direct Shipping Iron Ore (DSO) with mining having occurred Mineral Resources’ (MinRes) Carina deposit, located adjacent to Aurumin tenure. In addition to Carina, exploration along strike has identified the Chameleon and Hunt Range DSO deposits.

Aeromagnetic imagery indicates multiple Banded Iron Formation (BIF) units within Aurumin’s Mt Dimer Project area to be the same BIF units which host the known iron ore deposits. Historical data collected from WAMEX shows some of these BIF units, within Aurumin’s tenure, have high-grade (>58% Fe) rock chips that have not been fully tested by drilling.

Aurumin is currently working towards completion of the sale of iron ore rights to Mineral Resources Limited for a combination of upfront and milestone cash payments and a $1/t royalty. Aurumin will conduct MinRes approved exploration activity and receive a management fee. Iron Ore Exploration is scheduled to continue in 2024.

Gold

Aurumin holds a substantial land package around the historical Mt Dimer and Taipan Gold mining centres with a number of prospective targets. Additionally the area is underexplored for gold along the BIF lithologies which have historically been predominantly explored for iron mineralisation.