Aruma Faces Funding Runway Under Two Quarters Amid Aggressive Exploration Push

Exploration Momentum Builds at Fiery Creek

Aruma Resources Ltd (ASX, AAJ) has advanced its exploration agenda with the finalisation of a maiden drilling program at the Fiery Creek Copper Project, located in the prolific Mt Isa copper belt of northern Queensland. The company plans to commence a targeted 1,400-metre reverse circulation (RC) drill campaign across approximately 11 holes at the Piper Prospect, a priority target defined by recent geophysical surveys and historical high-grade copper and silver rock chip samples.

This maiden drilling is designed to test two induced polarisation (IP) conductors and a north-south trending gravity anomaly, which intersect zones of elevated copper and antimony assays. Heritage surveys and landowner consents have been completed, with drilling scheduled to begin in early August, marking a significant step in Aruma’s systematic exploration approach in this world-class mineral belt.

Expanding Footprint Across Strategic Projects

Beyond Fiery Creek, Aruma conducted a reconnaissance site visit at its Bortala Copper Project, also in the Mt Isa region, confirming the R9 Copper-Gold and Nara Copper-Silver prospects as initial exploration priorities. This project lies immediately south of 29Metals’ Capricorn Copper Project, positioning Aruma well within a highly prospective copper corridor.

In South Australia’s Olympic Dam precinct, the Wilan IOCG-Uranium Project is undergoing assessment for heavy mineral sands (HMS) potential, complementing its existing copper, gold, and uranium targets. The company has engaged industry experts to evaluate HMS prospects and continues to progress approvals for on-ground exploration.

Western Australia, Gold and Critical Minerals Focus

In Western Australia, Aruma is preparing for a maiden 1,500-metre RC drilling program at the Apoc Gold Prospect within the Saltwater Project in the Pilbara. This target is underpinned by a substantial gold soil anomaly coincident with gallium and arsenic geochemical anomalies, indicating potential for critical mineralisation. Additionally, follow-up soil sampling is planned at the Talmine Prospect to build on previously reported high-grade gallium results, including a standout assay of 136.05 g/t Ga2O3.

Meanwhile, a 64-hole aircore drilling program at the Salmon Gums Gold Project in the Eastern Goldfields has identified three new geochemical anomalies, prompting plans for further infill drilling to better define these zones.

Corporate and Financial Position

To support its aggressive exploration schedule, Aruma successfully completed a placement raising approximately $900,000 before costs, issuing over 105 million shares at $0.0085 each, accompanied by free attaching options. The placement attracted new investors and saw participation from board members, underscoring confidence in the company’s strategy.

As of 30 June 2025, Aruma held a cash balance of $931,000 with no debt, providing a runway of approximately 1.66 quarters based on current expenditure. The company notes planned reductions in operating costs and anticipates a research and development tax incentive claim later in the year, which should bolster cash flow.

Exploration expenditure for the quarter totaled $417,282, reflecting active field programs and preparatory work across multiple projects. No production or development activities occurred during the period, consistent with Aruma’s focus on early-stage exploration.