Auric finds new gold zone at the Guest Prospect
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Auric’s drilling has discovered a new zone of gold mineralisation at the promising Guest Prospect within its Widgiemooltha Project in Western Australia.
Notable results from the new find in the southeastern part of the prospect include 2m at 20.44 grams per tonne (g/t) gold from 59m and 8m at 3.95g/t gold from 37m.
What makes the discovery interesting is that the company’s exploration program is the first in the Guest area in nearly two decades.
Auric Mining’s (ASX:AWJ) drilling has so far defined the basalt host to gold mineralisation over a strike length of over 250m and to a vertical depth of just 55m. This remains open along strike and at depth.
“The Guest prospect represents an exciting opportunity to expand our resource base in the Widgiemooltha area,” managing director Mark English said.
“It confirms the potential of the recent Neometals gold rights acquisition and what is shaping up to be a fantastic deal for Auric.”
The Guest prospect was part of a package of gold rights that the company acquired from Neometals (ASX:NMT) in June this year.
Guest is located just 2.4km from Auric’s Munda gold deposit and 3.2km northwest from the privately owned and operated Mount Gold mine. It’s interpreted to lie in a similar position to Munda along the western limb of a small syncline developed on the margin of the Widgiemooltha Dome.
It is also associated with several clusters of historic workings, including shafts of unknown age or depth extent.
Previous drilling was carried out by Consolidated Kalgoorlie Gold Mines in 1984 and Ramelius Resources in 2006, and returned results such as 8m at 2.91g/t gold and 2m at 3.41g/t gold in the vicinity of historical workings in the southeastern part of the prospect.
Auric is also now planning a follow-up RC drilling program at Guest Southeast.
This article was developed in collaboration with Auric Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.