Auric Mining Completes Successful Gold Toll Milling of Jeffreys Find Ore

Auric Mining (ASX: AWJ) has successfully completed gold toll milling of ore from its Jeffreys Find project at the Three Mile Hill operation in Coolgardie, Western Australia.

The approximately 60,000 tonnes of ore from Jeffreys Find highlighted the final campaign of a two-year partnership with BML Ventures.

This joint venture saw BML act as the miner, operator and manager of the Jeffreys Find project and be responsible for all mining, haulage, milling costs, and related expenses.

50:50 Post-Costs Split

Upon completion of gold sales, the partners subtract all direct costs before splitting the surplus cash proceeds on a 50:50 basis.

Jeffreys Find has produced approximately 30,000 ounces of sales gold since mining commenced in May 2023.

Follows prior cash distributions totalling $12.9 million from the project between December 2023 and early 2025, Auric received an additional $1m distribution in August.

Auric expects to bank around $14.5m all told as its share of the Jeffreys Find JV, and plans to use the remaining proceeds to fund mining and other development costs at its Munda gold mine.

Munda Toll Agreement

Auric executed a toll milling and ore purchase agreement with Black Cat Syndicate (ASX: BC8) in early July to process starter pit ore from the Munda gold mine at the Lakewood Mill in Kalgoorlie.

The company will process a maximum 125,000t of Munda ore, the entire estimated resource of the starter pit.

With an estimated grade of 1.8 grams per tonne, that will produce 6,100oz of gold.

Further Sales Pending

Auric managing director Mark English said the JV would sell a further 300oz of gold within the next fortnight.

“This last campaign has made for a great final payday for Auric, with further cash distributions still to come once all gold has been sold, all costs paid and final accounting complete,” he said.

The company expects receipt of that distribution by month’s end.

“Jeffreys Find has been an absolute game changer for us, accelerating our transition from gold explorer to producer, and now mining in our own right at Munda,” Mr English added.