- Auric Mining (AWJ) has completed its first reverse circulation (RC) drilling program at the Munda Gold Project in WA
- Throughout February and March, 27 RC holes were drilled at the project to test potential extensions to the known gold mineralisation
- Auric has received results for the first seven holes, which saw grades peak at 43.85g/t gold
- Results for the remaining 20 holes are pending and are expected to be received by mid-April
- Auric has ended the day 12.5 per cent in the green with shares trading at 18 cents
Auric Mining (AWJ) has completed its first reverse circulation (RC) drilling program at the Munda Gold Project.
The Munda Project lies 35 kilometres southwest of Kambalda and 45 kilometres northeast of Norseman in the West Australian goldfields.
It consists of one mining lease with applications for two miscellaneous licences in progress.
Additionally, it has an inferred gold resource estimate of 3.77 million tonnes at 1.43g/t for 173,700 ounces of gold.
Throughout February and March, 27 RC holes, for 3664 metres, were drilled at Munda to test potential extensions to the known gold mineralisation.
Auric has received results for the first seven holes which saw a best intercept of 13 metres at 6g/t gold from 98 metres including five metres at 13.27g/t gold from 106 metres and one metre at 43.85g/t gold from 108 metres.
“The aim of the 27-hole drilling program was to extend the known mineralisation and increase the current resource at Munda,” Managing Director Mark English said.
“We are confident we’ll be able to improve on the resource and the first of the 27 holes confirms the geological model and gives us considerable confidence in the program,” he added.
Results for the remaining 20 holes are pending and are expected to be received by mid-April.
Auric has ended the day 12.5 per cent in the green with shares trading at 18 cents in a $14.34 million market cap.