Auric Mining (ASX:AWJ) has begun mining at the Starter Pit at the Munda Gold Mine in Western Australia.
All infrastructure is in place including a mine site office and mine camp. Mining is currently free-dig in the upper, weathered portion of the Starter Pit.
The first blast is likely to occur within two weeks as fresher rock is accessed. The Starter Pit is expected to take five months to complete.
Auric Mining, which has a market capitalisation of $33.51 million, is projecting 125,000 tonnes of ore will be extracted from the Starter Pit at an estimated grade of 1.8 grams per tonne gold at an all-in sustaining cost of $2,635 per ounce.
The Munda Gold Mine hosts an estimated 145,000 ounces of gold. Once the Starter Pit is finished, the company expects to complete detailed planning for a Munda Main pit anticipated to begin in 2026.
Managing Director Mark English says it will not be long before ore stockpiles build at Munda.
“When we bought the tenements in September 2020, it was always our intention to get into production as quickly as possible,” English says.
The Munda Mine has a resource of 145,000 ounces of gold and represents a considerable part of Auric’s portfolio. The company is focused on the Starter Pit, which aims to produce 6,100 ounces from 125,000 tonnes mined.
Auric Mining is a gold-focused company that is entering into production via its Starter Pit in Widgiemooltha, Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Auric Mining
