Auric presses on with gold drilling elsewhere after packing off Widgiemooltha RC Samples
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Auric has wrapped up a 37-hole reverse circulation drilling program totalling 3,980m at its Widgiemooltha gold project and is now waiting on assay results.
The program, which commenced in mid-July, totals 28 holes at the Munda project and another 9 holes at the Guest prospect.
However, that’s not the end of Auric Mining’s (ASX:AWJ) current activity at the project with aircore drilling still underway and a small reverse circulation program to be carried out at the Jeffreys Find prospect in mid-September following completion of the aircore program.
This follows its securing the gold rights at both Widgiemooltha and Spargoville – including the Guest prospect – from Neometals (ASX:NMT) earlier this year.
Due to the extremely high volumes of samples being processed by assay laboratories, the company expects to receive final results from the RC program in mid-October.
The RC drilling at Munda, which is surrounded by the Widgiemooltha gold tenements, was aimed at closing spacing where appropriate to the nominal 25m by 25m spacing required for resource estimation.
It also tested a potential new mineralised zone associated with an intercept of 19m grading 0.72 grams per tonne (g/t) gold from a depth of 26m including 6m at 1.74g/t gold from 39m.
This intercept is about 200m northeast of the limit of the current inferred resource of 173,700oz gold.
Additionally, four holes drilled by Western Mining Corporation were twinned as part of an ongoing validation program to enable the conversion of inferred resources to the higher confidence indicated category.
The Guest prospect is located within one of the 21 former Neometals gold rights tenements.
Guest is located between 1km and 2.3km southeast of Munda on a structural trend that links the prospect with the Munda gold deposit.
It is associated with a number of historical shafts of unknown age and has been subjected to two separate shallow percussion drilling programs in 1984 and 2006.
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.