Auric Mining

RC Drilling at Chalice West and Miitel South

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce that RC drilling is underway at the Company’s Chalice West Project. The drill rig will then mobilise to the Miitel South Gold Prospect.


Energetic Start to 2023

  • RC drilling underway to test recently generated gold and nickel targets at Chalice West – 5 holes for approximately 600m.
  • High priority Miitel South Gold Prospect to be drilled in sequence with Chalice West – 8 holes for approximately 1,100m.
1.0 DRILLING

RC drilling started on 4 February 2023 to advance the multiple opportunities generated by a recently completed aircore drilling program at Chalice West. The results of that program further defined gold anomalism in a setting analogous with the nearby Chalice gold deposit, together with distinct nickel anomalism and widespread, elevated REE concentrations in clays.

The drill will then mobilise to the Miitel South Gold Prospect, part of the Neometals Gold Rights acquisition1. This prospect has been prioritised on the basis of extensive historic workings, including a substantial alluvial mining operation together with strongly anomalous rock chip, trench and soil samples.

2.0 THE CHALICE WEST PROJECT

Auric completed a 227 hole air core drilling program in late November 2022. The thrust of the program was to test a highly prospective area proximal to the Chalice Gold Mine, a prolific gold producer within the last decade.

Results are now in, revealing:

  • Gold. Near continuous gold anomalism in basalt over a five kilometre strike length with host-rock geology analogous to The Chalice Gold Mine2.
  • Nickel. Anomalous nickel results including 2m @ 0.67% Ni in AAC0279 returned, representing two distinct ultramafic units. These results show the potential for komatiite-hosted nickel sulphide mineralisation.
  • Rare Earths. Significant clay-hosted Rare Earth Element (REE) concentrations were intersected in three distinct and widespread zones with intervals up to 17m thick and individual grades up to 11,038ppm (1.10wt %) Total Rare Earth Oxides (TREO) 3. Of the three zones, the south eastern zone overlaps the anomalous gold zone and coincides with an ~ 7km long NW trending magnetic feature corresponding to magnetic monzogranite and ultramafic bedrock geology. Valuable Magnetic Rare Earth Oxide (MREO) make up more than 20% of TREO in the majority of assayed intervals and up to 31% of TREO.

2.0 Chalice West Reverse Circulation (RC) Drilling

An RC program comprising 5 holes for approximately 600m began on 4 February 2023. Kalgoorlie-based Kennedy Drilling are providing drilling services with Auric personnel supervising the program.

Three holes will target fresh basalts and granite beneath previously defined and near-pervasive gold anomalism in air core holes on the 6,471,150 northing (Figure 1).

Two holes will drill an ultramafic unit beneath the highest nickel grades, also on the 6,471,150 northing.

The RC program will not target REE as further expansion of the clay-hosted REE potential will involve aircore, rather than RC drilling.


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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