These results support the continuity of mineralisation identified in the first drilling program and will contribute to an updated resources estimate which Auric plans to undertake this quarter.  

Auric Mining’s (ASX:AWJ) 27-hole infill and step out RC drilling at the Widgiemooltha Gold Project in Western Australia’s Goldfields region has returned a large number of assays, bringing the total number of completed holes by Auric at Munda to 55.

A new resource estimate for Munda will be undertaken by Auric to incorporate all the data from the 55 drill holes, totalling 6,780 metres.

Additional RC drilling was carried out to test a potential zone of mineralisation several hundred metres to the northeast of the current resource area. The best result returning 19m at 0.81g/t from only 3m depth at AMRC032.

Other drilling highlights include:

  • 5m at 4.72g/t gold from 99m, including 1m at 17.11g/t gold
  • 11m at 1.11g/t gold from 35m
  • 4m at 3.34g/t from 46m, including 1m at 10.1g/t; and
  • 4m at 6.23g/t from 31m, including 1m at 20.63g/t.

These results come off the back of Auric’s March 29th results which outlined the potential at Munda. These new results will be added to Auric’s March 29th results once a resource upgrade is completed.

Potential exists for other mineralised zones

While Auric says the gold grades overall are modest, the thickness and shallow depth of this intersection is particularly encouraging.

“Our first round of drilling in February to March this year returned some spectacular results at Munda,” AWJ technical director John Utley said.

“The latest drilling supports those results and provides the drill density that will allow us to incorporate all of our results into a new estimate of resources for Munda.

“The potential for other mineralised zones beyond the current resources is confirmed by our drilling in the new ‘northeast’ zone.”

Confidence in the resources continues to build

AWJ has now completed two phases of RC drilling at Munda, with the latest phase comprising 28 holes for 3,116m completed in August.

The holes were drilled with three main objectives – resource definition, to test a potentially new zone of mineralisation around 200m northeast of the current resource area, and ongoing validation work.

Auric managing director said the company has consolidated its work and continues to learn more about the deposit with every stage.

“We continue to build confidence in the resources and other technical parameters critical to any development of the project.”

Background and history

Auric’s Munda gold deposit is one of the company’s three gold projects in the West Australian goldfields that, in combination, extend from 35km southwest of Kambalda to 45km northeast of Norseman.

There have been numerous phases of exploration and resource drilling at Munda since the 1960s.

Most of this work was undertaken by Western Mining Corporation with subsequent programs by six different companies, including the excavation of a small trial pit by Resolute Mining in 1999.

 

 

 

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.

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