Auric Mining Ltd (ASX:AWJ) yesterday began the process of toll milling the first batch of ore from the Jeffery’s Find Gold Mine, with 30,000 tonnes of ore to be processed at the Greenfields Mill at Coolgardie, Western Australia.
It marks a landmark moment for the company, with first gold pour expected within days, a milestone which would officially promote Auric to gold producer status.
Less than three years since IPO
“In less than three years since listing on the ASX we have become one of Western Australia’s gold producers,” Auric Mining managing director Mark English said.
“This is a first-class result for Auric and its partner, BML Ventures Pty Ltd (BML) of Kalgoorlie.
“Once the first batch has been processed through the mill, we will be able to reconcile gold recovered against the grade control model greatly adding to confidence in the project economics. That is only weeks away.
“Meanwhile BML has now stockpiled more than 100,000 tonnes of ore at the mine site near Norseman, awaiting transport to the mill.
“This project is right on track to achieve our ambition of mining and processing 150,000 to 180,000 tonnes from the mine, in the first phase.”
Auric highlighted the timeliness of the anticipated gold pour, entering the market with a high gold price – especially significant given Jeffrey’s Find’s short mine life, with final mining expected to be complete by the end of next year.
Open pit mining at the Jeffreys Find Gold Mine.