Quarterly Activities Report For The Period Ended 30 June 2023

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to report on its activities during the 30 June 2023 Quarter and up to the date of this announcement.

Highlights

• Over 100,000 tonnes of gold ore mined at Jeffreys Find as of 20 July 2023 with more than 24,000 tonnes delivered to the Greenfields Mill, Coolgardie.
• Greenfields to complete processing of initial batch of approximately 30,000 tonnes by 31 July 2023.
• Maiden gold pour is imminent.
• Scoping Study for open-pit mining and toll treatment of the Munda Gold Deposit shows robust project economics for a wide range of gold prices.
• The Munda Production Target at a Base Case of AUD$2,600 per ounce gold price is approximately:
  • 1.716Mt at 2.2g/t producing 114.7koz gold recovered and an undiscounted accumulated cash surplus of $76.9M
• Mining at Munda is contemplated over an approximately 3-year period (13 calendar quarters).

Mark English, the Managing Director commented as follows:

“During the quarter, our main focus was the steps required to start mining at Jeffreys Find. It is a milestone achievement for the Company and our shareholders to be mining. The toll milling has commenced, post end of the quarter. We will in the foreseeable future attain one of the Company’s key ambitions and objectives in becoming a gold producer. Generating cash within the next six months with negligible downside risk to Auric is a terrific result for us and our shareholders.” said Managing Director Mark English.

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.