Auric Mining (ASX:AWJ)

Jeffreys Find Generates $4.46 Million Gross Revenue from First 2024 Gold Campaign

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce that 1,256 ounces of gold has been sold in the first gold campaign of the year from Jeffreys Find Gold Mine (the Project) near Norseman.


Highlights

  • $4.46 million gross revenue generated.
  • 1,256 ounces of gold sold at $3,549 per ounce.
  • 30,024 dry metric tonnes processed at Greenfields Mill.
  • Approximately 145,000 tonnes to be milled in July & August 2024.
  • BML Ventures continuing with 24/7 mining at Jeffreys Find.
Management Comment

Managing Director, Mark English, said “Last year gold was sold at an average of $3,006 per ounce. This year the first parcel sold at $3,549 per ounce – $543 an ounce better. The increase in price is fantastic.

“We are going to have an exceptional year at Jeffreys Find.

“Whilst the first campaign of the year was a little smaller than anticipated because of rain in the Goldfields, the next mill allocation is for 145,000 tonnes.

“Our JV partner is looking to double production and mine more than 300,000 tonnes during 2024. We expect the head grade to improve as the year progresses,” said Mr English.

In the first campaign, 30,024 dry metric tonnes were processed at a reconciled head grade of 1.44 g/t by the Greenfields Mill (Greenfields) at Coolgardie for BML Ventures Pty Ltd of Kalgoorlie (BML), Auric’s joint venture partner.

Calculated recovery was 90.38% and the head grade which reconciles well with the estimated mine grade for the ore parcel.

All gold was sold at the Perth Mint for an average of $3,549.48 per ounce, generating $4,457,343 of gross revenue.

Greenfields commenced toll milling of Jeffreys Find ore on 17 April 2024 and the campaign finished on 30 April 2024.

The next gold campaign is scheduled for July and August 2024. Greenfields is contracted to mill 300,000 tonnes of ore during The Project, however BML expects to mine more than double the tonnage compared to 2023.

Stage One last year saw 176,000 tonnes processed for 9,741 ounces of gold.


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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