By Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce that all assay results have now been received for the first phase of grade control drilling at the Munda Gold Project, near Widgiemooltha, WA.
HIGHLIGHTS:Final assays received for the recently completed grade control drilling program at Munda Gold Project.Final 10 holes drilled bringing total to 361 holes and 11,301m completed on 10m x 10m pattern.Latest assays include high-grade or broad intersections including:Quotes received from contractors for mining, drilling and blasting.Pit optimisations and mine design to proceed based on up-to-date costings and an updated resource model.
Management Comment
Managing Director, Mark English, said: “The completion of the grade control drilling program was an important undertaking by the Company. It has substantially advanced our understanding of the Munda gold deposit and in particular the role and distribution of high-grade zones in mining.
“The drilling program has provided guidance for mine planning, exactly what it was designed to do. Our next task is to further refine the resource model and re-optimise the model using recently obtained costings from reputable mining contractors and the rising gold price. This will generate a revised starter pit design for mining in late 2024 or early 2025.
“We continue to progress the development of our main asset, with the focus on getting Munda into production.” said Mr English.
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