Auric Mining Limited (ASX: AWJ) has identified a wide range of gold intercepts in results from the recently completed 27-hole RC drill programme at Munda Gold Project in Western Australia.
Managing Director, Mark English, said the intercepts include wide zones of gold mineralisation in hole AMRC014; 18m @ 3.69g/t Au from 86m and 7m @ 2.50g/t from 109m and in AMRC020; 19m @ 0.72g/t Au from 26m.
We are delighted with the results from our first 27 RC drilling program at Munda. 24 of the 27 holes returned significant assays including two bonanza intersections, which is outstanding from our first programme,” Mr English said.
“We are excited by the results that have been achieved. There is still a lot of work to be done, but we expect to add to our resources.”
Technical Director, John Utley, said the first drill programme at Munda provides a framework to better understand the distribution of gold and to expand the current resources.
“The intercept in AMRC020 is particularly encouraging in terms of the potential for additional mineralised zones, associated with other structures.”
The results for the last 13 holes include intercepts of 18m @ 3.69g/t Au from 86m and 7m @ 2.50g/t Au from 109m downhole depth in AMRC014. These are represented in cross section in Figure 3 along with the extents of the current resource estimation model and it is noted that the influence of these intercepts will extend beyond the current resource model.
A broad zone of mineralisation comprising 19m @ 0.72g/t from only 26m depth in AMRC020 is considered particularly encouraging as it was drilled to test for a possible mineralised structure to the east of the currently known gold mineralisation.
Mr English said further drilling is needed to confirm the presence or otherwise of a previously unrecognised gold-mineralised structure.
The mineralised intercepts in AMRC014 and AMRC020 are hosted in basalts and associated with quartz veining and ubiquitous but generally low (trace to 3%) sulphide (pyrite and pyrrhotite) concentrations and some biotite alteration.
The Munda Gold Project is one of Auric’s three gold projects in the West Australian goldfields, in an area extending from 35 km southwest of Kambalda to 45 km northeast of Norseman.
The Project comprises mining lease M15/87, together with applications for miscellaneous licences L15/414 and L15/397. The Project is around 5 km west of the settlement at Widgiemooltha.
Current Inferred gold resource estimate at 0.5g/t cut-off grade is 3.77Mt @ 1.43g/t for 173,700 oz gold.
