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Aruma Resources Limited ( (AU:AAJ) ) has shared an announcement.
Aruma Resources has struck 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-one Timmins mining district, in a move that significantly expands its copper footprint into Canada. The Tillex deposit, which has seen more than 10,000m of historical diamond drilling, has delivered broad, shallow, high-grade copper and silver intersections over a 450m strike that remains open along strike and at depth, and sits on patented claims that confer full mineral and land rights without the need for landowner approvals. Supported by existing First Nations arrangements on part of the ground, strong local infrastructure near the city of Timmins and proximity to Glencore’s Kidd Creek operation, Aruma plans an immediate dual-track strategy of exploration and resource development, including geophysics and a phase-one drilling program this quarter, with the objective of defining a maiden Mineral Resource Estimate and enhancing its position in the copper sector amid robust supply-demand conditions.
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 (ASX: AAJ) is an exploration-focused resources company with a growing portfolio of copper assets, now extending from Australia into Canada. The company targets high-grade base metals projects in tier-one mining jurisdictions, aiming to capitalise on favourable copper market fundamentals and strong regional infrastructure to advance exploration and potential resource development.
Average Trading Volume: 2,394,378
Technical Sentiment Signal: Hold
Current Market Cap: A$7.84M
For an in-depth examination of AAJ stock, go to TipRanks’ Overview page.