Auric commences mining at Jeffreys Find in WA

Auric Mining (ASX: AWJ) has commenced open pit mining at its Jeffreys Find project, with first gold pour expected in early July this year.

WA Department of Mines, Industry Regulation and Safety (DMIRS) has approved the full mining proposal for the project, located about 45km northeast of Norseman in WA and about 750km from Perth.

Drill and blast of the first 5m bench has been completed, with contractor BML Ventures expected to be fully mobilised for all mining activities and operational by the end of this week.

Between 100,000-150,000t of ore will be hauled to the Greenfields Mill at Coolgardie, WA, from late May where it will be toll-treated.

Auric managing director Mark English says this is excellent progress and a terrific achievement by BML Ventures and Auric.

“Having the full mine proposal approved is fantastic, particularly given the high gold price,” he said.

“I commend both BML Ventures and our technical team in working together to achieve this result.

Mr English says he looks forward to the next stage of mining and “actually producing gold”.

Gold produced will be forwarded to the Perth Mint for final refining and sale.

Auric will be deducting all costs and splitting the surplus cash proceeds on a 50:50 basis with its BML Ventures after completing the first stage.

BML Ventures is then expected to expand the mine to the final pit design in 2024, with mining expected to be completed around 31 December 2024.