Auric Mining

Mining at Jeffreys Find Maiden Gold Pour Only Weeks Away

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce that as at 9 July 2023 approximately 90,000 tonnes of gold has been mined at Jeffreys Find with 77,500 tonnes of gold ore on the ROM (Run Of Mine) pad at its Jeffreys Find Gold Mine. Trucking to the Greenfields Mill in Coolgardie has commenced with around 12,500 tonnes delivered.


Highlights

  • 77,500 tonnes of gold ore on the ROM Pad at Jeffreys Find Gold Mine, Norseman as at 9 July 2023.
  • More than 12,500 tonnes of ore has been delivered to The Greenfields Mill, Coolgardie.
  • Initial batch of 30,000 tonnes to be processed shortly.
  • First gold pour projected by end of July.
  • Auric still expecting substantial cashflow in September/October.

Operations are proceeding according to plan with mining underway for more than six weeks.

The first 12,500 tonnes of ore body have now been transported to Coolgardie. Once around 20,000 tonnes have been delivered to Greenfields the mill will commence processing the initial batch of approximately 30,000 tonnes.

Over the coming months BML Ventures Pty Ltd of Kalgoorlie, Auric’s mining joint venture partner, will mine and haul in total between 100,000 tonnes and 180,000 tonnes of ore to complete the first stage of the project.

“We now have a well-established, open pit at the mine site and mining is proceeding according to plan. Widespread rain in the district over the past fortnight has hampered haulage to the mill, but mining is continuing,” said Auric’s Managing Director Mark English.

“With 12,500 tonnes of ore already transported to Coolgardie we are just a short time away from our maiden gold pour. Once the first approximately 30,000 tonnes is processed it will be clear how this project is going to unfold. I can say both parties are well satisfied with the effort to date,” he said.

77,500 tonnes of gold ore are now sitting on the ROM pad at Jeffreys Find.

After completing the first phase of mining the partners will subtract all costs, including a cash retention for the second stage, before splitting the surplus cash proceeds on a 50:50 basis. This will provide Auric with a substantial cash boost, expected in September/October 2023.

The total project life is short and final mining is expected to be completed by the end of 2024. A robust gold price has now placed the project in a favourable position.

Gold is thickest near the surface at the Jeffreys Find Gold Mine.

“Auric will use surplus cash generated from Jeffreys Find to continue development of the Munda Gold Deposit at Widgiemooltha and continue with broader exploration,” said Mr. English.

The initial pit takes shape at the Jeffreys Find Gold Mine.


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

×