Auric Mining Limited (ASX: AWJ) has announced an update on the Munda Gold Project near Widgiemooltha, Western Australia.
Grade control drilling is scheduled to commence at the Munda Gold Project on 1 November 2023. This is another significant step towards open-pit mining of the deposit and follows on from a recent scoping study which defined a production target of between approximately 1.67Mt at 2.2g/t Au and 2.18Mt @ 1.9g/t, producing between 112,000oz and 129,100oz of gold.
The programme comprises approximately 380 holes for 11,500m on a 10m x 10m grid pattern. The drill pattern covers the starter pit defined in the scoping study within a larger area of near surface mineralization.
Managing director, Mark English, commented, “There are some complex geological elements within the deposit. Results from the drilling programme will help us better understand these elements and the resultant gold distribution. This will aid in significantly de-risking the project and allow us to plan the next steps.”
“A scoping study for Munda completed mid-year shows us a path to more than A$75M free cash for a mine lasting three years. It’s our aim to have a starter pit producing gold in 2024 before expanding the mine in 2025 and beyond.” Said Mr. English.
The positive outcome from the scoping study justifies more detailed mine planning and potentially mine permitting which will be based on activities including an updated resource model and definition of an optimal grade control drill pattern for mining utilizing results from the 10m x 10m resource definition and grade control programme, geotechnical and hydrological studies, and additional metallurgical test work.
To find out more, please visit www.auricmining.com.au
To read more articles like this, please visit www.theassay.com/news