Auric Mining Ltd (ASX:AWJ) has received further encouragement from the Munda Gold Project near Widgiemooltha in Western Australia with high-grade results from the first phase of grade control drilling.
Assays have now been received for all 361 holes, representing a total of 11,301 metres on a 10-metre by 10-metre pattern.
In addition to very high-grade intercepts received previously, the latest assay include further significant intercepts at a 0.5 g/t gold cut-off. Several intercepts extend to the bottom of hole together with high-grade intervals.
These assays include high-grade or broad intersections such as:
- 1 metre at 12.03 g/t gold and 3 metres at 10.77 g/t;
- 7 metres at 2.28 g/t to the bottom of hole; and
- 1 metre at 15.57 g/t to the bottom of hole.
Greater understanding
Auric managing director Mark English said: “The completion of the grade control drilling program was an important undertaking by the company. It has substantially advanced our understanding of the Munda gold deposit and in particular the role and distribution of high-grade zones in mining.
“The drilling program has provided guidance for mine planning, exactly what it was designed to do.
“Our next task is to further refine the resource model and re-optimise the model using recently obtained costings from reputable mining contractors and the rising gold price. This will generate a revised starter pit design for mining in late 2024 or early 2025.
“We continue to progress the development of our main asset, with the focus on getting Munda into production.”
Munda optimised pit outline, first conceptual starter pit and existing trial pit with completed 10 x 10m pattern drill holes and selected intercepts at a 0.5g/t cut-off.
New pit optimisations
New pit optimisations will now be undertaken utilising the up-to-date contract mining costs, results from metallurgical test work and a resource model that incorporates the 10-metre by 10-metre drill data.
Optimised pits are expected to form the basis for detailed mine design and mine scheduling.
Auric also reports that four contract mining companies have provided budget pricing estimates for mining and drill and blast services at Munda. These costings will contribute to detailed assessment of mining to feasibility study level.
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