Coffee with Samso Episode 154 is starring Brad Valiukas, Managing Director of Aurumin Ltd (ASX:AUN)
Aurumin Ltd (ASX:AUN) is listed on the ASX and has been developing the Sandstone project since our last coffee in January 2022.
When we last spoke to Brad Valiukas, they had just acquired the project. The strategy was to drill more to build a better database of the project. During this time, Aurumin has made good progress with four drill programs with extensive intersections of gold mineralization.
Drilling Results:
- 11/07/2022 – 344.00 m at 1.29 g/t Au
- 11/08/2022 – 224.00 m at 1.50 g/t Au
- 05/09/2022 – 352.80 m at 1.50 g/t Au
- 12/09/2022 – 242.70 m at 1.20 g/t Au
Looking at these drill holes, I see some hidden issues regarding the grades that will be included in the upcoming resource model. The overall length appears to be only slightly higher grade than the resource, but there are much better numbers within the section. With an average of 1.5 g/t Au you will definitely see much larger numbers down the length of the hole.
It is also important to realize that the potentially higher grades in the drill holes also allow for the flexibility to change the mining style. I see Sandstone’s potential as a matter of when, not if, it will be positive. The geology will create opportunities and recent drilling is a clear indication that my assumptions are not too far off target.
Another important point to consider is the potential lack of motivation of neighboring deposits to go into mining. If this were the case, Aurumin could consolidate its inventory and that would work perfectly for the model.
Chapter:
00:00 start
00:20 Introduction
01:08 Updates from Brad.
01:40 Discussion of the data points.
03:44 Discussion about the intercepts.
06:10 Potential and Mineralization at Two Mile Hill.
07:44 What was the motivation behind pursuing the apartment building?
09:46 The sandstone province.
11:59 What do we need to know about the new package?
13:02 Johnson Range.
14:09 What’s happening at Southern Cross?
14:57 The market is moving forward.
15:39 News flow.
16:37 Why aurumin?
17:32 Closing
PODCAST
About Brad Valiukas – Managing Director
BEng (mining), GradCert (economy), member AusIMM
Mining Engineer and Senior Executive with over 20 years operational, management and leadership experience in underground and open pit multi-commodity mining operations in Australia and internationally.
Brad’s most recent position is Manager – Technical Services for Northern Star Resources. Previously, he was COO at Focus Minerals (ASX:FML), COO at ABM Resources and held senior positions at Mincor Resources.
About Aurumin Ltd
Aurumin Ltd (ACN 639 427 099) (Aurumin or the Company) is an Australian company incorporated on 28 February 2020 in Western Australia as a mineral exploration company to facilitate the reorganization of projects owned by Aurumin Mt Dimer Pty Ltd (formerly Acertim Resources Pty Ltd ) to allow. (Aurumin Mt Dimer).
Specifically, the Company was formed to facilitate the restructuring of the Mt Dimer, Mt Palmer and Johnson Range projects into separate project units and to further consolidate additional properties and advance 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 completed a further 3 property purchase agreements and applied for further properties so that it is now at 29 rental properties involved in 4 projects.
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