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Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce that toll milling and processing of the first parcel of approximately 36,000 tonnes of gold ore from its Jeffreys Find Gold Mine will be completed at the Greenfields Mill at Coolgardie on 7 August 2023.
Highlights
- Toll milling and processing of the first ore parcel from the Jeffreys Find Gold Mine will be completed on 7 August 2023.
- Initial parcel of approximately 36,000 tonnes of ore being processed by the Greenfields Mill at Coolgardie.
- Five doré bars dispatched to Perth Mint for final refining, last doré bars to be delivered next week.
- Total ounces from initial toll milling to be advised.
- More than 100,000 tonnes of ore on ROM Pad at Jeffreys Find Gold Mine awaiting transport to mill at 31 July 2023.
- Nearly 8,000 tonnes of ore for next processing parcel on ROM Pad at Greenfields Mill at 31 July 2023.
All gold doré from the first milling campaign will soon be at the Perth Mint, where final refining will be undertaken. The number of ounces of gold from the maiden milling campaign will be known shortly and advised to ASX.
“We are highly satisfied to have put more tonnes through the mill than we anticipated; the first parcel was approximately 36,000 tonnes” said Auric’s Managing Director Mark English.
“The project is on schedule and going according to plan. To have the last gold pour of our maiden milling program just as Diggers and Dealers starts in Kalgoorlie is a wonderful reminder that junior explorers like us have a future in The Goldfields of Western Australia. We are delighted with the progress to date.”
“In a short amount of time we will have a clear understanding on how the project is unfolding with ounces recovered from the first ore parcel. Together with our partners, BML Ventures Pty Ltd (“BML”)of Kalgoorlie, we are confident the result will reconcile well with estimates of mined tonnes and grade” said Mr. English.
BML have stockpiled more than 100,000 tonnes of ore on the mine site ROM pad, awaiting transport to the mill. There are already more than 8,000 tonnes, as at 31 July 2023, on the ROM Pad at Greenfields Mill, building toward the next parcel of ore to be processed. The project is on target to achieve its first phase ambition of mining and processing 150,000 to 180,000 tonnes from the mine.
Jeffreys Find Mine site.
The total project life is short and final mining is expected to be completed by the end of 2024/ early 2025. The project budgeted for a gold price of AUD$2,600/ounce. A substantially higher gold price has now placed the joint venture in a more favourable position.
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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
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, 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.
