Auric Mining And Partner Sell Gold Worth $4.46M From Jeffreys Find

Auric Mining Ltd (ASX: AWJ) and BML Ventures have sold 1,256 ounces of gold in the first gold campaign of the year from the Jeffreys Find Gold Mine near Norseman.

In the first campaign, 30,024 dry metric tonnes were processed at a reconciled head grade of 1.44 g/t by the Greenfields Mill at Coolgardie.

Calculated recovery was 90.38% and the head grade reconciles well with the estimated mine grade for the ore parcel.

Watch: Auric Mining MD Mark English Tells JustStocks Video Jeffreys Find Gold Project Will be Substantial Cash Producer in 2024

Next gold campaign scheduled for July

Greenfields started toll milling of Jeffreys Find ore on 17 April 2024 and the campaign finished on 30 April 2024.

All gold was sold at the Perth Mint for an average of $3,549.48 per ounce, generating $4,457,343 of gross revenue.

The next gold campaign is scheduled for July and August 2024.

Doubling the tonnage

Stage 1 in 2023 saw 176,000 tonnes processed for 9,741 ounces of gold from Jeffreys Find, generating almost A$30 million in gross revenue.

This earned A$10 million in surplus cash which was split 50/50 between Auric and BML.

BML is expected to mine more than double the tonnage in 2024 compared to 2023.

Head grade to improve

Auric Managing Director Mark English said: “Whilst the first campaign of the year was a little smaller than anticipated because of rain in the Goldfields, the next mill allocation is for 145,000 tonnes.

 “Our JV partner is looking to double production and mine more than 300,000 tonnes during 2024.

 “We expect the head grade to improve as the year progresses.”

 

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