Stage 2 mining to commence at Jeffreys Find gold mine, toll mill contract for minimum 300kt ore

Auric Mining (ASX: AWJ) will commence stage two of mining the Jeffreys Find gold mine near Norseman, WA, in early March, with first parcel of ore expected in mid-April this year.

BML Ventures Pty Ltd of Kalgoorlie, Auric’s joint venture partners, has executed a contract with FMR Investments Pty Ltd to toll mill a minimum of 300,000t of ore at the Greenfields mill in Coolgardie this year.

Auric Mining managing director Mark English commented on this.

“Last year our partners extracted 175,000t of ore from Jeffreys Find gold mine and we achieved a great result for the joint venture with almost $10m total surplus cash generated,” he said.

“With a contract to process a minimum of 300,000t in 2024 at the Greenfields Mill, it should be a very lucrative year for Auric.

“We are delighted that mining will recommence shortly.

“There will be multiple processing campaigns throughout the year for stage two of the project with BML Ventures Pty Ltd contracted to put the first parcel through the mill in April 2024.

“Stage one of the project produced 9,741oz of gold which averaged 1.86g/t.

“Jeffreys Find is straight forward mining and we know what to expect.

“Our confidence is high that stage two will produce substantially more ounces compared to 2023.”

Equipment will be mobilised to site this week, with Auric Mining expecting first cash in Q4 CY24 and further cash in Q1 CY25.

The project is due to conclude early next year.