Auric Mining controls 4 projects in the Widgiemooltha area of Western Australia, the Widgiemooltha Gold Project, including Auric’s flagship Munda gold deposit, the Jeffreys Find Gold Project, the Spargoville Gold Project and the Chalice West Project. The projects combine 25 granted tenements, including 6 mining leases, for a total area of 516km2.
The Widgiemooltha area is 630km east of Perth and has a long and distinguished mining history with numerous gold, nickel and rare metal mines. Even with an extensive mining history in the area, considerable exploration prospects remain with several significant gold project developments in the past ten years, including (1) Mincor’s Widgiemooltha Gold Project (5.5Mt at 1.9g/t for 328,700oz Au), (2) Karora Resources’ Beta Hunt (10.1Mt @ 2.9g/t for 944,000oz Au), and (3) Polar Bear Project (6.24Mt @ 1.71g/t for 353,000oz Au). Recent exploration success in the area by Anglo Australian Resources (AAR.ASX) at their Mandilla Gold Project (resources of 15.6Mt at 1.0g/t for 500,400oz Au). (4) highlights further potential in the area.
The Widgiemooltha Gold Project (“WGP”) located near the town of Widgiemooltha combines 20 tenements, including 5 granted Mining Leases. All tenements are highly prospective for gold mineralisation. This includes the Munda Gold Deposit. The combined Indicated and Inferred Mineral Resource estimate for Munda at 0.5g/t cutoff is 4.48Mt @ 1.38g/t Au for 198,700oz gold.
The Jeffreys Find Project is 50km northeast of Norseman and combines 2 tenements including 1 granted Mining Lease. It holds the Jeffreys Find gold deposit. The gold mineralisation extends from the surface to at least 110m in vertical depth and is thickest near the surface. The combined Inferred and Indicated Mineral Resource estimate for Jeffreys Find at 0.5g/t cut-off is 1.22Mt @ 1.22g/t Au for 47,900oz gold.
The Spargoville Project is located 30km north of Widgiemooltha and combines 8 tenements. It lies in the same stratigraphy, along strike from the Wattle Dam Gold Mine which produced 268,000oz gold @ 10g/t from 2006-13; one of Australia’s highest-grade mines at that time.
The Chalice West is adjacent to the Chalice Mine, a mine that produced almost 700,000 ounces of gold and combines 3 tenements. It covers 408km², including geology mirroring the Chalice Mine and is approximately 50km northwest of Norseman.