About the Saltwater Gold Project

The Saltwater Gold Project comprises nine granted Exploration Licences over a total area of 744km2. The Project is located approximately 100 kilometres south-west of the regional mining centre of Newman.

The Project area covers a strike extent of more than 65km of the highly significant Nanjilgardy fault, the same regional structure reported as the primary source of gold mineralisation at Northern Star Resources’ (ASX: NST) Paulsens Gold Mine and the Mt Olympus Gold Mine in the region.

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The location of Aruma’s Saltwater Project area on 1:500,000 geology

The original geological mapping identified only Ashburton Formation (above), but re-interpretation from mapping outcrop and magnetics (below) suggested that there was Duck Creek Dolomite, Mt McGrath and Cheela Springs Basalt underneath and domed-up through the Ashburton Formation.

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Aruma’s Saltwater Project area on TMI magnetics showing faults and anomalies – drill target area outlined in red and the new Spinifex Dome in white and below in Figure 3.

EM data resulted in the definition of the Spinifex Dome in the north-western area of the Project in E52/3966 (below). This area is interpreted as similar to the Saltwater domal structure, which hosts gold anomalies and is the same stratigraphy as the Mt Olympus gold deposit to the west.

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Saltwater Project northwest area on EM – Spinifex Dome shown on the new lease E52/3966

Drilling defines new gold camp

Aruma completed a maiden 40 hole 4,518m maiden reverse circulation (RC) drilling program at the Saltwater Gold Project in December 2020 with a follow up 20 hole 1,872m second phase program in November 2021.

The second phase confirmed the prospectivity of the domes on the Nanjilgardy Fault as gold targets, and further regional appraisal and land rationalisation will be occurring this year.

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Drilling targets to hit splays in the fertile Mt McGrath formation.

The initial drilling program focused on outcropping areas on the western end of the Saltwater Ring Structure, a large 60km2 magnetic ring structure that sits within E52/3818 at Saltwater.

Drilling was conducted over four short, closer-spaced lines which targeted the anomalous western area of the Saltwater Ring Structure.

The program also comprised wider spaced (regional) longer lines, to the east, which targeted the ring structure/splay under cover.  Nine holes totalling 900m, in two lines of drilling, were completed in this area, as below.

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The drilling results of anomalous drill results >0.1g/t – showing cluster on the historic area (top left) and the projected extension to the East Line (bottom right)

Intersections grading up to 1.26g/t gold were received from drilling at the historic Saltwater mining area. The nine wider-spaced extension holes identified a significant supergene blanket more than 200 metres wide.

The results were viewed as being highly encouraging and extended over a strike length of 4km and indicated the discovery of a possible new gold camp at Saltwater

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Significant intersections >0.3g/t from the 40 hole program

The close-spaced drilling targeted old workings at the historic Saltwater mining area within the prospective Mt McGrath Formation, which hosts Mt Olympus Gold Mine.

The wider-spaced drilling targeted the extension of the contact and structure under cover some 3km east.

The close-spaced drilling targeted old workings at the historic Saltwater mining area within the recently identified and prospective Mt McGrath Formation, which hosts Mt Olympus Gold Mine.

The wider-spaced drilling targeted the extension of the contact and structure under cover some 3km east.

Planned Exploration

Aruma plans to use detailed magnetics and conductivity surveys to target zones capable of hosting economic gold deposits. These will be located on splays off the Nanjilgardy Fault, similar to both Paulsens (Hardy Fault) and Mt Olympus (Zoe Fault).

Details of results and exploration activities are available via Aruma’s ASX announcements.