Join our daily newsletter At The Bell to receive exclusive market insights
- Auric Mining (AWJ) has hit an impressive gold find during a recently completed 27-hole drill program at the Munda Gold Project in the Goldfields
- The second set of drill results returned two notable intercepts of 13 metres at 14.62g/t gold, including one metre at 137.4g/t gold from 65 metres
- These fresh finds are set to fuel Auric’s bid to convert its resources estimate from inferred to indicated or measured
- Assays have now been received for 14 of the reverse circulation holes drilled by Auric at Munda, with results pending for the final 13 of the remaining 27
- Auric Mining closed the day up 47.4 per cent at 28 cents per share
Auric Mining (AWJ) has hit an impressive gold find during a recently completed 27-hole drill program at the Munda Gold Project in the Goldfields.
The second set of seven drill hole results returned from Munda include a shallow intersection from 60 metres in one of the holes, reporting encouraging finds of 13 metres at 14.62g/t gold, including one metre at 137.4g/t gold from 65 metres.
In pleasing news for the explorer, these fresh drill results are from outside the current resource model area and can be added to the current resource of the project.
Auric’s Technical Director John Utley said the task now is to convert resources from inferred to indicated or measured.
“The latest results include one of the best intercepts ever returned at
Munda and confirm the mineralisation style; a large gold system including frequent and substantial widths of high grades but with limited continuity which will be very amenable to open-pit mining at lower cut-off grades,” he explained.
Assays have now been received for 14 of the reverse circulation holes drilled by Auric at Munda, with results pending for the final 13 of the remaining 27.
The Munda Gold Project is one of Auric’s three gold projects in the West Australian goldfields.
Auric Mining closed the day up 47.4 per cent at 28 cents per share.
