Plum Pudding Resource Grows by 4,600oz to 18,700oz; Sandstone Iron JV Adds 10 Tenements

Plum Pudding Resource Boost

Aurumin Limited (ASX: AUN) has announced a 33% increase in the Plum Pudding gold resource, adding 4,600 ounces to reach a total of 18,700 ounces. This update follows drilling campaigns completed in April and December 2024, which have refined the resource estimate within the Sandstone Operations project. The Plum Pudding deposit, part of Aurumin’s broader 951,000-ounce Sandstone gold resource, remains a key asset with both Indicated and Inferred classifications reported at a 0.5g/t gold cut-off within 80 meters of surface.

Historically, Plum Pudding has seen limited mining activity, with minor production by Herald Resource in the late 1990s. The recent drilling focused on extending mineralisation around a high-grade intercept of 18 meters at 25.8g/t gold, confirming a sub-vertical shear corridor hosting stockwork quartz veining. While the drilling results align with global resource grades, no new bonanza zones were identified outside the primary mineralised corridor, reinforcing the current geological model.

Shillington Drilling Validates Resource Model

At the Shillington deposit, drilling aimed to validate and potentially upgrade lower confidence zones within the existing open pit resource of 91,000 ounces. Assay results broadly support the current geological interpretation and block model, with intercepts such as 8 meters at 2.15g/t gold and 14 meters at 1.3g/t gold. However, attempts to extend mineralisation into the Shillington BIF target yielded disappointing results, with low-grade composite samples that will not impact the current resource estimate. Further evaluation of extensional opportunities at Shillington is ongoing.

Iron Ore Exploration Advances with JV Expansion

Aurumin’s Sandstone Iron Project drilling and re-assay program returned encouraging high-grade direct shipping ore (DSO) iron results, including intercepts exceeding 60% Fe over significant widths at shallow depths. These results have underpinned the expansion and extension of the joint venture option agreement with Newcam Minerals Pty Ltd, adding 10 additional tenements covering 241 square kilometers. The expanded footprint enhances Aurumin’s potential to develop a shallow, low-strip open pit iron operation leveraging existing infrastructure and historical datasets.

Field reconnaissance and rock chip sampling across newly identified prospects have confirmed outcropping banded iron formations (BIF) with grades above 60% Fe, supporting further detailed exploration. Aurumin plans to conduct focused mapping and sampling to prioritise future drill targets for iron mineralisation.

Ongoing Project Developments and Corporate Position

Beyond Sandstone, Aurumin continues to advance its Mt Palmer and Mt Dimer projects. At Mt Palmer, positive drilling results have led to an extension of the JV option period with Newcam, while Kula Gold Limited has earned an 80% interest following strong sampling results from historic mine dumps. The sale of iron ore rights at Mt Dimer to Mineral Resources Limited remains pending completion conditions.

Financially, Aurumin reported a closing cash position of AUD 0.9 million at quarter-end, with payments to related parties disclosed in line with remuneration agreements. The company maintains close engagement with major shareholders to support ongoing operations and exploration activities.

Collectively, these developments position Aurumin to progress towards potential mining operations, with a focus on resource upgrades and strategic partnerships to unlock value across its gold and iron ore assets.