Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce that the first phase of grade control drilling has been completed at the Munda Gold Project, near Widgiemooltha, WA.
Highlights
- Grade control drilling program at Munda Gold Project completed with 351 holes drilled.
- Assays received for 244 holes including numerous high-grade intersections such as:
- An updated resource model integrating the grade control drilling will be completed once all results are received.
Managing Director, Mark English, said: “It is terrific to be back drilling and concentrating on Munda. This is our main asset and flagship project. The drilling results to date have provided many high grade gold intersections.
“Only 70% of the assay results have been received, so we don’t have a complete understanding, but we are excited with the gold results so far. It will take more time to fully analyse the data from the 10,985 samples collected and then to define the way forward.
“We believe that Munda will become a sizeable cash producer for Auric. Last year’s Scoping Study showed of the order of 112,000 to 129,100 ounces of gold can be mined from Munda. Munda is where our efforts are focused.”
A total of 351 holes were drilled on a 10m x 10m pattern for 10,895m. Assays have been received for 244 holes, up to 19 January 2024, representing approximately 70% of the samples submitted.
Assay results include numerous significant intercepts at a 0.5g/t Au cut-off (Appendix 1) with high grade or broad intercepts such as:
Grade Control Program
The drill pattern covered the starter pit defined in a recent Scoping Study1 within a larger area of near surface mineralisation (Figure 1).
Drilling was undertaken by Kalgoorlie-based Total Drilling Services Pty Ltd (TDS). Most holes were drilled vertically to depths of 30-35m, targeting either the 350m or 345m reduced level (RL). Angled holes were drilled around the margin of the historic Resolute trial pit together with some in the trial pit. Shallower vertical holes were drilled in the Resolute trial pit to reach the same elevations.
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