Just the Facts: Aurumin progresses iron ore and gold exploration with joint ventures [Video]

Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Aurumin Ltd (ASX:AUN).
The company has made significant progress in exploration through joint ventures focusing on iron ore and gold.
It has signed a binding agreement with Newcam Minerals to explore the iron ore potential at its Central Sandstone Project.
Newcam has a six-month exclusive option to earn a 50% interest in the iron ore rights, with an upfront payment of A$500,000 and will fund half of the exploration costs.
If the option is exercised, Newcam will provide an additional A$500,000 and up to A$5 million for production start-up. This agreement allows Aurumin to explore iron ore resources while focusing on its core gold assets.
At the same time, Aurumin’s joint venture with Kula Gold at the Mt Palmer Gold Project is advancing.
Aircore drilling at Mt Palmer East uncovered high-grade gold intersections, with 3 metres at 9.3 g/t gold and 1 metre at 102 g/t gold.
Further drilling is planned to explore the magnetic anomaly linked to these results, with reverse circulation drilling scheduled to advance the project.
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