Auric Mining controls 3 projects in the Widgiemooltha area of Western Australia, the Widgiemooltha Gold Project, including Auric’s flagship Munda gold deposit, the Jeffreys Find Gold Project and the Spargoville Gold Project. The projects combine 16 granted tenements, including 6 mining leases, and 9 applications for a total area of 91km2.
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 encompasses the Widgiemooltha Dome and includes 18 tenements with the Munda gold deposit (Mining Lease 15/87) as the core of the project. Munda is located approximately 34 km south-west of the mining town of Kambalda and 3km southwest of Mincor Resources’s Widgiemooltha Gold Project.
The Jeffreys Find Gold Project (Mining Lease 63/242) is 100% held by Auric Mining Ltd. The lease is 45 kilometers north-east of Norseman and 15km from the Eyre Highway. It includes the Jeffreys Find gold deposit, a banded iron hosted deposit with very simple geometry, extending from surface to at least 140m depth.
The Spargoville Gold Project is centred around 4 km west of the Coolgardie-Espererance HIghway and 35 km southwest of Kambalda. It comprises 3 granted and 3 pending tenements. The former Wattle Dam gold mine lies only 1.4km south east of granted exploration licence 15/1689. Exploration by previous explorers has defined gold anomalism including the Fugitive Prospect.