Aruma Expands Copper Footprint With Tillex Acquisition and New Priority Targets

Aruma Resources Limited ( (AU:AAJ) ) has shared an update.

Aruma Resources has strengthened its copper portfolio by executing binding agreements to acquire an 85% interest in the high-grade Tillex Copper-Silver Project and 100% of adjoining patented claims in Ontario’s Tier-1 Timmins mining district, where extensive historical diamond drilling has defined shallow, high-grade copper sulphide mineralisation over 450 metres of strike that remains open along trend and at depth. During the December quarter the company also reported encouraging maiden drilling results at its Fiery Creek Copper Project in Queensland’s Mt Isa belt, completed sampling programs at its Wilan heavy mineral sands and IOCG-U project in South Australia and its Saltwater Project in Western Australia, identified new priority copper targets at Bortala and Fiery Creek, and secured commitments for a $3.515 million capital raising and a non-core project divestment to fund continued exploration across its key assets.

The most recent analyst rating on (AU:AAJ) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Aruma Resources Limited stock, see the AU:AAJ Stock Forecast page.

More about Aruma Resources Limited

Aruma Resources Limited is an ASX-listed mineral exploration company focused on high-demand commodities, particularly copper, silver, heavy mineral sands and IOCG-U targets, with a portfolio of projects in world-class mineral belts across Canada and Australia, including the Timmins district in Ontario, the Mt Isa copper belt in Queensland, the Eromanga Basin in South Australia and the Pilbara region of Western Australia.

Average Trading Volume: 4,152,560

Technical Sentiment Signal: Hold

Current Market Cap: A$10.73M

Learn more about AAJ stock on TipRanks’ Stock Analysis page.