The Jeffreys Find Gold Project comprises granted Mining Lease 63/242 and Miscellaneous Licence 63/97 which are 100% held by Auric Mining through a subsidiary, Jeffreys Find Pty Ltd. The Jeffreys Find Gold Project includes the Jeffreys Find gold deposit and the Neo Prospect. Gold mineralisation in the project area is hosted in a Banded Iron Formation (BIF) which is strongly magnetic.
At Jeffreys Find, gold mineralisation extends from surface to at least 140m depth, is thickest near surface and dips at approximately 35˚.
Jeffreys Find has an Indicated and Inferred gold resource estimate at 0.5g/t cut-off grade of 1.22Mt @ 1.22g/t for 47,900 oz gold1.
Metallurgical testing to date shows that the gold mineralisation is amenable to conventional CIL treatment and potentially to heap leach. The project is viewed by Auric as a potential open-pittable toll-treatment operation and there are at least nine gold processing plants located within a radius that includes Kalgoorlie and Coolgardie.
An application has been lodged for a miscellaneous licence that would provide for a haul road linking the project with the Eyre Highway approximately 14km to the south.
Further metallurgical and geotechnical work is planned for Jeffreys Find together with drilling to potentially define resources at the Neo Prospect.