Further assays from a recent drilling program at Auric Mining’s (ASX: AWJ) Munda gold project have continued to reveal wide, high-grade intersections.
Auric has now received all assays for the completed 27-hole reverse circulation program.
Within these last results were 18m at 3.69 grams per tonne gold from 86m, including 5m at 8.85g/t gold; and 19m at 0.72g/t gold from 26m, including 6m at 1.74g/t gold.
Auric noted the 19m at 0.72g/t gold intercept may represent a new mineralised zone.
Managing director Mark English said the company was “delighted” with the results from the maiden drilling program at Munda.
He added that 24 of the 27 holes had returned “significant” assays, including two bonanza intersections of 1m at 137.4g/t gold and 1m at 42.85g/t gold.
“We are excited by the results that have been achieved. There is still a lot of work to be done, but we expect to add to our resources.”
Meanwhile, Auric technical director John Utley said the drilling program had provided a framework to better understand the distribution of gold at the project and expand on the current resource which stands at 3.77 million tonnes at 1.43g/t gold for 173,700 ounces of contained metal.
WA gold focus
Auric debuted on the ASX in February this year after raising $7.25 million in an oversubscribed IPO.
With its ASX listing, Auric is giving investors exposure to its three WA gold projects – Munda, Jeffrey’s Find and Spargoville.
Munda and Jeffrey’s Find are the most advanced projects, with both undergoing intermittent exploration for decades.
Munda has been explored since the 1960s, including Resolute Mining carrying out trial pit mining at the project in 1999.
Located 35km southwest of Kambalda, Munda is on a mining lease and includes two other miscellaneous licence applications that are awaiting approval.
The day after Auric listed, it kicked-off the maiden drilling program at Munda.