Australian company Auric Mining Limited has started mining the initial shaft at its gold mine, located Munda, located just 5 km from Widgiemooltha, Western Australia. This stage marks the beginning of a strategic project for the mining company, which is seeking to consolidate its position as a sustained gold producer in the region.
Since May 10, the Auric Mining team has begun to extract material from the upper part of the initial shaft, taking advantage of the fact that the rock has a degree of wear that allows progress to be made without the need for explosives. The work on the haul road, the ROM platforms and the waste dump have reached an almost completed stage, according to the company.
Projected production of 6,100 ounces
The company plans to mine approximately 125,000 tonnes of ore at an estimated grade of 1.8 grams of gold per tonne, which equates to production of close to 6,100 ounces of gold. All this at a projected AISC cost of A$2,635 per ounce, allowing Auric to maintain its margins in the competitive Australian gold market.
Munda has estimated resources of 145,000 ounces of gold. The current phase of the initial shaft will extend for five months, after which Auric Mining expects to finalize detailed planning for the development of the main pit, which is projected to commence in 2026.
The advancement of the Munda operation has been made possible by revenues from the development of the Jeffreys Find gold mine, located near Norseman. This has enabled the company to cover initial development costs without the need for external financing.
Munda gold mine: A bet on gold mining in Western Australia
Auric Mining’s CEO, Mark English, highlighted that Munda represents the company’s main asset for the next five years. English stressed that the objective is to move rapidly towards sustained production, strengthening Auric’s presence in the open pit gold mining industry in Western Australia.
With the first blasting expected in the coming weeks, the company anticipates the progressive accumulation of reserves at Munda, reinforcing its projection as a key operator in the Australian gold sector.
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Source and photo: Auric Mining Limited
