Auric Mining

First Gold Delivered to Perth - Mint Processing of First Ore Parcel Nears Completion

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.


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.

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