- Auric Mining (AWJ) identifies a new zone of gold at the Guest prospect within the Widgiemooltha area of Western Australia
- A reverse circulation drilling program was carried out over the recently acquired Guest prospect using data from historical drilling to define targets
- AWJ says the latest results confirm the presence of an entirely new zone of gold mineralisation, close to surface, in the south eastern part of the prospect
- Moving forward, the company is planning to undertake infill and step-out drilling
- Shares closed 3.7 per cent higher at 14 cents
Auric Mining (AWJ) has identified a new zone of gold at the Guest prospect located within the Widgiemooltha area of Western Australia
The gold exploration company has been operating in the Goldfields region of the state and in June acquired the gold rights to a suite of tenements in the Widgiemooltha and Spargoville areas from Neometals (ASX:NMT).
Among those tenements was the Guest prospect which lies between Auric’s Munda gold deposit and the privately owned and operated Mount Gold Mine.
As part of the company’s exploration work, a reverse circulation drilling program was carried out over the Guest prospect using data from historical drilling to define targets.
Auric has reported intersecting eight metres at 3.95 grams of gold per tonne (g/t) and two metres at 20.44 g/t which it said confirmed the presence of an entirely new zone of gold mineralisation, close to surface, in the southeastern part of the prospect.
Moreover, the zone is said to be open both down dip and along strike with mineralisation extending to surface.
According to the company, not much money has been spent on gold exploration in the area and this program marks the first drilling in the Guest area in nearly two decades.
With the new mineralised zone identified, Managing Director Mark English said the Neometals gold rights acquisition was shaping up to be a “fantastic deal” for Auric.
The company is planning to undertake infill and step-out drilling.
Shares closed 3.7 per cent higher at 14 cents apiece.