Auric Mining Ltd (ASX:AWJ) sold more than $23.48 million worth of gold during its second milling campaign for the year from the Jeffrey’s Find mine near WA’s Norseman, with this being based on the processing of 127,610 dry metric tonnes for a reconciled recovery of 93.2%.
The processing was undertaken at the Greenfields Mill at Coolgardie – with Auric’s joint venture partner BML Ventures Pty Ltd in charge – and 6,295 ounces of gold were recovered at a reconciled head grade of 1.65 grams per tonne.
The campaign ran for 42 days, from 24 July 2024 to 4 September 2024, and Auric said its $23.48M gold sale metric was based on an average price of AUD$3,731 per ounce, with the highest price reached during the campaign being AUD$3,859 per ounce.
Overall, Stage Two of mining for the year has seen the company produce 7,551 ounces of gold with total gold sales to date of $27.95 million.
And Auric intends to continue with its busy schedule, with a third campaign of milling kicking off at the end of November, amounting to around 142,000 tonnes to be processed at Greenfields. Overall, 300,000 tonnes are set to be milled from Jeffrey’s Find in 2024/25.
Managing director Mark English said data from the campaign revealed the strong position that Auric was in with its JV relationship and production from the mine.
“We are in the sweetest possible place with the mining of Jeffreys Find,” he said.
“Total production for the year has passed 7,500 ounces. Another toll milling campaign is scheduled for the end of November. It will be a mighty run home for Auric as the project draws to conclusion.
“Whilst the campaign processed lower tonnes than expected, the gross revenue
was higher due to the extraordinary gold price.
“The reconciled yield of 1.65 g/t was marginally below expectation but the recovery
of 93.2% was excellent.”
Auric has been trading at 35.5 cents.
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