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About Aurumin Limited
Aurumin Limited is an ASX-listed mineral exploration company focused on two project areas in Western Australia.
The Sandstone Gold Operations were cornerstoned by the acquisition of the Central Sandstone Project by the Company in early 2022.
- The Sandstone Project comprises a 885,800 ounce gold mineral resource, significant project infrastructure and an expanding tenement footprint where the Company aims to support a gold mining operation in the future.
- The Company’s Johnson Range Project has a Mineral Resource of 64,700 ounces at a grade of 2.51g/t Au, located midway between Southern Cross and Sandstone.
- The Birrigrin Project area was added in late 2022 and is 70km north of the Central Sandstone Project. The Project has 39 mapped shafts dating to the early 1900s with recorded production grades up to 196g/t Au.
In addition to the Sandstone Gold Operations, the Company has a significant landholding at its Southern Cross Operations.
- The Mt Dimer Project regionally has a substantial tenure footprint with gold and iron ore potential. The Company is currently working towards completion of the sale of iron ore rights to MinRes for a combination of upfront and milestone cash payments and a $1/t royalty.
- The Mt Dimer Mining Tenements have been divested to Beacon Minerals Limited (Beacon). Historically the Mt Dimer Mining Tenements produced over 125,000 ounces of gold from open pit and underground production of approximately 600,000 tonnes @ 6.4g/t. Aurumin retains a 2% net smelter return royalty on gold production above 12,000 ounces and on all other minerals, and Beacon have released an initial Reserve of 21,100 oz Au.
- The historical Mt Palmer Project historically produced via open pit and underground methods, generating approximately 158,000 ounces of gold at an average grade of 15.9g/t. Aurumin has divested 51% of Mt Palmer to Kula Gold Limited, who can earn up to 80% by spending a$1M over 3 years. Aurumin can dilute to a 1% royalty on all minerals.
The Company is actively exploring its tenements and pursuing further acquisitions that complement its existing focus and create additional Shareholder value.