The Widgiemooltha Gold Project includes the flagship Munda Gold Project which comprises Mining Lease 15/87 and is wholly owned by Auric Mining with Neometals Ltd holding the Ni and Li rights. The Munda Gold Project is located approximately 34 km south-west of the mining town of Kambalda and is conveniently situated 5km west of the township of Widgiemooltha. The Project is 3km southwest of the Widgiemooltha Gold Project which is held by Mincor Resources.
The Inferred gold resource estimate for Munda at 0.5g/t cut-off grade is 3.77Mt @ 1.43g/t for 173,700 oz gold1.
In addition the Company has secured through recent acquisition with Neometals (ASX:NMT) gold rights to an extensive tenement package that surrounds the Munda Gold Project on 3 sides substantially adding to the prospective coverage at the north end of the Widgiemooltha Dome as well as a number of prospective areas around the Widgiemooltha Dome.
There have been numerous phases of exploration and resource drilling at Munda since the 1960’s. The majority of this work was undertaken by Western Mining Corporation with subsequent programs undertaken by 6 different companies including excavation of a small trial pit by Resolute Mining in 1999.
The Munda gold deposit is hosted within basalts and overlying ultramafic flows where they have been folded into a syncline. Gold mineralisation occurs in association with carbonate and biotite alteration with only sparse sulphide minerals except where nickel mineralisation is present. The distribution of gold mineralisation is interpreted to be controlled by the intersection of a south-easterly dipping fault or shear and layering in the basalts and ultramafics subparallel to the basalt-ultramafic contact.
Auric completed its first RC drill program at Munda in March 2021, returning a number of outstanding results, including 2: