Auric Mining

Quarterly Activities Report For The Quarter Ended 31 December 2022

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to report on its activities during the 31 December 2022 Quarter and up to the date of this announcement.


Highlights

  • An aircore drilling program comprising 227 holes for 7,227 metres was completed at Chalice West.
  • Wide-Spread clay-hosted Rare Earth Element (REE) system recognised with 3 broad zones defined, with further drilling planned.
  • Significant nickel and gold anomalism defined, with further drilling planned.
  • Mine planning and permitting activities continue at Jeffreys Find with substantial progress made.
  • Completion of placement and share purchase plan, which raised $2,380,200 before costs.
Mark English, the Managing Director commented as follows:

“During the quarter, our principal exploration activities were the aircore drilling at Chalice West, as well as continuing the mine planning and approvals process at Jeffreys Find, which we have substantially progressed.

The REE results at Chalice West as reported on 31 January 2023 are an exciting addition and development to our mineral opportunities.

Onthecorporatefront,wecompletedsuccessfulcapital raisings via a placement and SPP which raised $2,380,200 before costs.

We are now well funded to continue our aggressive exploration activities over the coming months.”

1.0 PRINCIPAL ACTIVITIES

A large aircore drilling program was completed in the Chalice West Project. The results defined gold anomalism in a setting analogous with the nearby Chalice gold deposit, together with distinct nickel anomalism and widespread, elevated REE concentrations in clays. RC drilling is planned for early February to further advance the multiple opportunities.

Mine planning and permitting for the Jeffreys Find Gold Project made substantial progress.

2.0 CHALICE WEST PROJECT

A large aircore drilling program was completed with 227 holes drilled for 7,227m. The program design recognised the potential for gold, nickel and rare earth elements (REE) in the Chalice West Project. The program focussed on known gold anomalism associated with ultramafic and mafic units intersected by Resolute Limited in a 1997 aircore drilling program.

Auric interpreted the geology intersected in the Resolute drill holes to mirror that hosting the Chalice Gold Mine approximately 8km to the northeast, separated by a granodiorite dome which Auric informally refers to as the Chalice Dome.

Drilling largely focussed on the mirrored Chalice stratigraphy with 197 of the holes drilled at 40m and 80m spacings along a series of 13 traverses. The remainder were drilled at wide spacings to define geology over the broader tenement E15/1801 and extending a short distance into E63/2199 (Figure 1).


Click here for the full ASX Release

This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AWJ:AU
The Conversation (0)
Apollo Minerals Limited

Exploration Update - Visible Gold Intersected at Salanie

Apollo Minerals Limited (ASX: AON) (‘Apollo Minerals’ or ‘the Company’) provides an update on its exploration activities at the Salanie Gold Project (“Salanie”) in Gabon and the Belgrade Copper Project in Serbia. The first round of drilling has now been completed at both projects. Visible gold has been intersected at the A1 Prospect at Salanie, an area that has not seen exploration or modern drilling in 70 years.

Keep reading...Show less
Metal Bank Limited

Wadi Al Junah VMS-Style Copper-Zinc-Gold-Silver Project in Saudi Arabia

Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ or the ‘Company’) is pleased to announce further details regarding the Wadi al Junah Copper-Zinc-Gold-Silver Project (‘Wadi al Junah’ or ‘the Project’), which has been awarded to Consolidated Mining Company (CMC) following a highly competitive Saudi government exploration licensing Round 6.

Keep reading...Show less
Octava Minerals Limited

Octava to Commence Drilling at Yallalong High-Grade Antimony Project

Octava Minerals Limited (ASX:OCT) (“Octava” or the “Company”), a Western Australia focused explorer of the new energy metals antimony, REE’s, Lithium and gold, is pleased to report that the drill rig is relocating to site at the Yallalong antimony project and will commence drilling this weekend. Drilling will focus on two antimony targets, Discovery and Central, with No.4 and North targets to be drilled in the new year.

Keep reading...Show less
Warriedar Resources

Targeted Exploration Focus Delivers an Additional 471koz or 99% Increase in Ounces, and a Higher Grade for Ricciardo

Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to report on an updated MRE for its flagship Ricciardo Gold Deposit, part of the broader Golden Range Project located in the Murchison region of Western Australia.

Keep reading...Show less
Octava Minerals Limited

Octava Selects Drilling Contractor for its Yallalong Antimony Project in Western Australia

Australian mineral exploration company Octava Minerals (ASX:OCT) has selected the drilling contractor for the exploration work commencing at its 100-percent-owned Yallalong antimony project, according to an article by Business News - Australia. The deal will kick off the company’s 3,000-metre program focused on the Discovery target.

Keep reading...Show less
Australian flag with "economy" and "growth" blocks.

Western Australia Allocates AU$14 Million to Improving Environmental Approval Process

Western Australia's governmentsaid on Monday (November 11) that it is allotting AU$14 million to support the employment of additional staff at the Environmental Protection Authority (EPA) and the Office of the Appeals.

The boost comes in response to the Vogel-McFerran Review commissioned by the government in 2023. It recommended various steps to speed up the state's environmental approval system and secure major projects.

According to the government, employing additional staff will help address existing backlogs and provide faster decisions “without impacting the high standard for protecting WA's unique environment.”

Keep reading...Show less

Latest Press Releases

Related News

×