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Aruma Resources Limited (ASX:AAJ)

ALERT: Price-sensitive ASX Announcement for AAJ
Current share price for AAJ : $0.006 -0.001 (-14.29%)+
Announcement
Release
12 Aug 2026 9:42AM
Price at Release
$0.007
Full Release
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Summary
Aruma Resources Limited announces the strategic expansion of its Tillex Copper-Silver Project in Ontario, Canada, by acquiring an additional 94 contiguous exploration claims from Good Mining Exploration Inc. This acquisition increases the project's area to 18.6 km² and extends its strike length to approximately 2.4 km, enhancing the potential for copper and gold exploration. The company has also secured commitments to raise $3.5 million through a share placement to fund aggressive exploration activities. The funds will support phase 2 diamond drilling and initial exploration efforts, including geophysical and geochemical surveys. This expansion enhances Aruma's control over key geological trends and strengthens its position in the Timmins mining district. The transaction involves a CDN $60,000 cash payment and CDN $90,000 in shares, with a 1.25% net smelter return royalty. Exploration is set to begin in the current quarter with a focus on identifying copper and gold targets.
Key Points
  • Aruma Resources expands Tillex Project in Ontario by acquiring 94 claims.
  • The project area increases to 18.6 km² with a 2.4 km strike length.
  • Aruma raises $3.5 million to fund exploration activities.
  • Phase 2 diamond drilling and surveys planned for exploration.
  • The acquisition involves cash, shares, and a net smelter return royalty.
  • Expansion enhances Aruma's control over prospective geological trends.
  • Exploration aims to identify copper and gold targets in the Timmins district.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.