Aruma Resources Ltd. has expanded its flagship Tillex copper-silver project in Ontario, Canada, acquiring a 90 per cent interest in a patented mineral right located directly along strike from the deposit’s high-grade core.
The agreement with private Canadian landowners covers claim PAT4887, positioned immediately northeast of current drilling operations in the Tier-1 Timmins mining district.
The acquisition extends the interpreted Tillex mineralised trend by approximately 760 metres to a total strike length of 3.2 kilometres, which remains largely unexplored and open in all directions.
Under the definitive terms, Aruma’s Canadian subsidiary will pay CAD$30,000 (AU$30,334) in cash upon completion and grant the vendors a 0.75 per cent net smelter return royalty over the claim area.
The deal involves no conditions precedent, increasing Aruma’s total landholding at Tillex to approximately 29 square kilometres.
The acquisition provides Aruma with direct tenure continuity along the prospective structural corridor. The company plans to prioritise near-term diamond drilling at the newly acquired ground to test potential north-eastward extensions of the copper-silver system.
This acquisition of a new patented mineral claim at the Tillex Project forms a key component of our expansion strategy for the project area,” said Aruma Managing Director Grant Ferguson.
“In securing this property, we are now in an optimal position to extend the high-grade mineralised zone at Tillex, which remains open in all directions and is the subject of the company’s highly successful ongoing diamond drilling campaign.”
The transaction coincides with Aruma’s ongoing Phase 2 diamond drilling program, which has successfully extended continuous high-grade mineralisation to the southwest by 230 metres. Assays remain pending for step-out drilling extending up to a further 130 metres southwest.
Immediate next steps for the newly acquired claim include compiling historical exploration data, incorporating structural geology into existing models, reprocessing geophysical datasets, and finalising targeted diamond drill holes along the expanded 3.2-kilometre corridor.
