Auric Mining Limited (ASX: $AWJ) Grade Control Drilling Program Completion

Auric Mining Limited (ASX: $AWJ) has completed the grade control drilling program at the Munda Gold Project, near Widgiemooltha, WA. The final assays for the program, which included 361 holes and 11,301m completed on a 10m x 10m pattern, have been received. The latest assays revealed high-grade or broad intersections, providing valuable guidance for mine planning. The company has also received quotes from contractors for mining, drilling, and blasting, and is proceeding with pit optimizations and mine design based on updated costings and an updated resource model.

Managing Director's Perspective on Grade Control Drilling Program

The completion of the grade control drilling program was an important undertaking by the Company. It has substantially advanced our understanding of the Munda gold deposit and in particular the role and distribution of high-grade zones in mining. The drilling program has provided guidance for mine planning, exactly what it was designed to do. Our next task is to further refine the resource model and re-optimise the model using recently obtained costings from reputable mining contractors and the rising gold price. This will generate a revised starter pit design for mining in late 2024 or early 2025. We continue to progress the development of our main asset, with the focus on getting Munda into production.

Summary of Munda Gold Project Progress

Auric Mining Limited (ASX: $AWJ) has successfully completed the grade control drilling program at the Munda Gold Project, providing valuable insights into the high-grade zones and distribution within the deposit. The company has received quotes from contractors for mining, drilling, and blasting, and is proceeding with pit optimizations and mine design based on updated costings and an updated resource model. The next steps involve refining the resource model and re-optimizing it using the obtained costings and rising gold price, with the aim of generating a revised starter pit design for mining in late 2024 or early 2025. The company remains focused on progressing the development of its main asset, with the goal of bringing Munda into production.