Aurumin : Re-release Mt Palmer Lithium Exploration Update and Results

03 June 2022 onlyASX:AUN

ABOUT AURUMIN

Aurumin Limited (ACN 639 427 099)

(Aurumin or Company) is an

Australian exploration company with advanced projects.

useAURUMIN BOARD

Piers Lewis

Non Executive Chairman

Brad Valiukas

Managing Director

personalShaun Day

Non Executive Director

D rren Holden

Non Executive Director

CAPITAL STRUCTURE

• 139.2 million shares

• 29.5 million options

PROJECTS

• Central Sandstone

• Mt Dimer

• Mt Palmer

• Johnson Range

• Karramindie

CONTACT US
For
T:	[phone]
E:	[e-mail]
W	www.aurumin.com.au
P:	PO Box 446, Subiaco WA 6904

MT PALMER LITHIUM EXPLORATION UPDATE AND RESULTS

ANOMALOUS LITHIUM AND PATHFINDER RESULTS FROM FIRST PASS ORIENTATION DRILLING INDICATE FERTILITY OF PEGMATITE

FOLLOW UP WORK BEING PLANNED

Aurumin Limited (ASX: AUN) ("Aurumin" or "the Company") is pleased to announce results from the orientation reverse circulation (RC) programme targeting lithium bearing pegmatites at its 100% owned Mt Palmer Project.

The orientation first pass RC programme drilled twelve holes along three north-south lines. Lithium results for the twelve holes drilled at the Vickers Find South prospect have been received with low level (>100ppm Li) lithium anomalism, up to 370ppm Li, returned across multiple holes.

These results were returned from a complex geological setting consisting of a combination of pegmatites, pegmatitic leucogranite and leucogranite within

1. mafic-ultramaficsequence crosscut by late-stage dolerite dykes. Initial multielement analysis was completed using a desktop XRF on selected samples. The XRF results returned anomalous pathfinder elements commonly used for targeting lithium mineralisation, including tantalum, (up to 105ppm Ta), rubidium (up to 3,612ppm Rb) and niobium (up to 79ppm Nb).

Aurumin's Managing Director, Brad Valiukas, commented:

"For a first pass, we are encouraged to have intersected multiple pegmatite units with an indication of fertility for lithium.The pegmatites are fractionated, and we are developing the vectors to hone in further.We have other promising target areas untested with drilling pending as well as targets at depth.

"Environmental works to allow further PoWs (drill permits) are now completed and we expect to be back active on the ground at Mt Palmer in the next couple of months."

Aurumin Limited

03 June 2022

ASX:AUN

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ORIENTATION DRILLING RESULTS

Aurumin has completed drilling an orientation first pass reverse circulation (RC) programme targeting lithium bearing pegmatites at the Vickers Find South B (VFSB) target (Figure 1). Twelve holes were drilled for a total of 1,212m along three north-south lines.

Low level (>100ppm Li) lithium anomalism (up to 370ppm Li) was returned across multiple holes. A review of the drilling indicates a complex geological setting consisting of a combination of pegmatites, pegmatitic leucogranite and leucogranite within a mafic-ultramafic sequence crosscut by late-stage dolerite dykes.

Geological logging showed varying percentages of feldspar (both albite and microcline) and mica (both muscovite and biotite) with minor garnet observed. This variation in the mineralogy of the pegmatites demonstrates a high degree of fractionation of the original granitic source material interpreted to be located directly to the north. Highly fractionated pegmatites are a key component in the deposition of lithium mineralisation within Lithium- Caesium-Tantalum (LCT) pegmatites.

Due to current lag times in receiving the multielement results from the laboratory, preliminary assessment of the fertility of the pegmatites by multielement analysis was completed using a desktop XRF on selected samples. The results returned anomalous pathfinder elements, including tantalum (up to 105ppm Ta), rubidium (up to 3,612ppm Rb) and niobium (up to 79ppm Nb), highlighting the prospectivity of the pegmatite complex. Using additional elemental ratios including K/Rb, Mg/Li and Nb/Ta as targeting vectors indicates future exploration to target areas to the south and potentially both deeper (below current drilling) and down-dip of the current drilling.

The depth that the RC holes were able to be drilled in the orientation programme was constrained due to water containment issues and ground conditions in some holes. Based on this assessment, some of these current holes may be extended by diamond drilling in the next programme.

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onlyuse personalFor Figure 1 - Vickers Find South collar plan with rock chip and drill spoil samples

Prior to the commencement of the drill programme, samples were collected from drill spoils from historical holes (>20 years old) and available rock outcrop with elevated pathfinder element results returned. The most promising of which included sampling drill spoil from an old hole with historically logged pegmatite, ≈600m to the south of the completed drilling, with strongly anomalous tantalum (391ppm Ta), niobium (267ppm Nb), elevated tin (16ppm Sn) and subdued lithium (52ppm Li), which may indicate proximity to lithium mineralisation based on accepted elemental zonation patterns in LCT lithium deposits, shown in Figure 2.

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Figure 2 - Schematic LCT Pegmatite model technical illustration. Source; Forrestania Resources ASX Announcement 12th

October, Modified after Cerný (1991) and Breaks et al. (2021)

Pegmatites sampled from the limited outcrop found in the Vickers Find South area consisted of varying mineralogy ranging from blocky K-Feldspar dominant to highly weathered pegmatite with varying levels of lithium and pathfinder element anomalism (Figure 3 - Rock chip samples:Figure 3). It is this variation observed in the mineralogy of the pegmatites along with the anomalous assay results which further demonstrate the degree of fraction occurring within the pegmatite complex within the Vickers Find South prospect and validates Aurumin's belief in the potential of the area to host lithium mineralisation.

Figure 3 - Rock chip samples: (A). Blocky K-Feldspar; lithium (10ppm Li), beryllium (13ppm Be), caesium (49ppm Cs), niobium (28ppm Nb), tantalum (43ppm Ta) and rubidium (2,020ppm Rb); (B) Weathered pegmatite containing feldspar, mica, and quartz; lithium (168ppm Li), beryllium (19ppm Be), caesium (67ppm Cs), niobium (53ppm Nb), tantalum (22ppm Ta) and rubidium (1,015ppm Rb).

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Figure 4 - Regional map of Southern Cross - Forrestania Greenstone Belt and location of lithium prospects

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