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- Auric Mining (AWJ) has received final results from a 27-hole drilling program at the Munda Gold Project in WA
- Drilling was completed last month and tested potential extensions to gold mineralisation
- While these last assays aren’t as high grade as the previous batch, one hole has highlighted the potential for a new mineralised zone
- Nevertheless, 24 out of the 27 holes returned significant assays with the last bout of results returning grades of up to 137.4g/t gold
- All results will be compiled to potentially upgrade the current inferred resource
- Company shares are down 4.55 per cent and trading at 21 cents
Auric Mining (AWJ) has received final results from a 27-hole drilling program at the Munda Gold Project in WA.
The reverse circulation (RC) drilling program was completed last month and aimed to test for potential extensions to existing gold mineralisation.
Latest results include 18 metres at 3.69g/t gold from 86 metres including five metres at 8.85g/t gold from 94 metres, and seven metres at 2.5g/t gold from 109 metres.
Additionally, hole AMRC020 intersected 19 metres at 0.72g/t gold from 26 metres including six metres at 1.74g/t gold. Excitingly, the company thinks this intercept may represent a new mineralised zone.
“The intercept in AMRC020 is particularly encouraging in terms of the potential for additional mineralised zones associated with other structures,” Technical Director John Utley said.
According to Auric, 24 out of the 27 holes returned significant assays with the last bout of results returning grades of up to 42.85g/t gold and 137.4g/t gold.
“We are excited by the results that have been achieved. There is still a lot of work to be done, but we expect to add to our resources,” Managing Director Mark English said.
Auric Mining will continue further drilling and once the results have been modelled, the company hopes to increase the existing inferred gold resource estimate.
Company shares are down 4.55 per cent and trading at 21 cents at 10:53 am AEST.
