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Auric Mining (ASX:AWJ) has commenced the relevant activities to facilitate open pit mining at the Munda gold mine in Western Australia, where it expects to extract 125,000 tonnes of ore at an estimated grade of 1.8 grams per tonne.
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Plant and equipment – including a dry hire fleet – have been mobilising at the mine to develop the starter pit; the project is expected to take six months to complete at the site, which is five kilometres from Widgiemooltha.
“Our whole team is full of optimism and excited to commence the Munda Gold Mine Starter Pit,” Auric’s managing director Mark English said.
Also completed: The survey mark-out of the pit crest, haul road, waste dump, ROM pads, and site office.
These developments follow approvals from the WA Government’s Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for the Munda Starter Pit Mining Proposal and Mine Closure Plan.
“Munda is our major asset; containing a sizeable gold resource. We will start conservatively with a target to mine 125,000 tonnes of ore, producing around 6,100 ounces of gold at a projected AISC of A$2,635 per ounce,” Mr English explained.
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Auric’s MD continued: “We are right on schedule and have mobilised all the necessary machinery and infrastructure.
“Earthworks have commenced, we will begin mining in a few days.”
AWJ has been trading at 24.5 cents this morning.
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