Aruma Resources has expanded its Tillex Copper-Silver Project in Ontario, Canada, through a Sale and Purchase Agreement with Good Mining Exploration Inc. to acquire 94 contiguous mineral claims covering approximately 16 square kilometres.

The transaction enlarges the project area to approximately 18.6 square kilometres and extends the interpreted continuous prospective strike length of the Tillex Trend to approximately 2.4 kilometres. The newly acquired ground wraps around the eastern and southern margins of the existing tenure, adding known copper occurrences, multiple gold anomalies, and untested historical electromagnetic conductors.

Aruma has also received firm commitments for a $3.5 million equity raise via a share placement to fund an aggressive exploration campaign across the enlarged project area.

“This acquisition transforms the scale of our Tillex Copper Project and secures control over a substantial portion of a highly prospective copper trend in the Tillex Region. The new claims extend the interpreted strike length of the targeted Tillex Project structural and geological positions to approximately 2.4 kilometres, significantly increasing the Project's expansion potential. They host known copper occurrences, multiple gold anomalies and untested geophysical targets, providing Aruma with a significantly expanded pipeline of exploration opportunities. We believe the acquisition materially strengthens the potential scale of the Tillex Project and our exposure to copper, and also gold, in one of Canada's premier mining jurisdictions while being completed at a highly attractive acquisition cost.”

— Grant Ferguson, Managing Director

Aruma is advancing its Phase 2 diamond drilling programme, which comprises approximately 3,600 metres to test strike and down-plunge extensions at the deposit.

The company plans to commence exploration across the newly acquired claims area in the current quarter, incorporating field reconnaissance and sampling, airborne magnetic surveys, and electromagnetic surveys to define new drill targets.

Read the full announcement: Strategic Expansion of Tillex Project & $3.5m Placement