Auric Mining Raises Western Australia Gold Deposit's Mineral Resource by 32%; Shares Rise 3%
Auric Mining (ASX:AWJ) said it re-estimated the indicated and inferred mineral resource at its Munda gold deposit in Western Australia to 4.2 million tonnes at 1.43 grams per tonne grade of gold for 192,000 ounces of gold, according to a Monday filing with the Australian bourse.The latest reading is up 32% from the December 2024 estimate despite the depletion of around 10,000 ounces, per the filing.The re-estimation incorporates data from mining of the starter pit, including mill reconciled gold production that was 46% higher than expected."Despite increasing the estimated grade, the resource estimate remains conservative when compared to actual production results," Auric Mining said, adding that additional planned drilling is expected to further expand the gold resource.The company's shares gained 3% in recent Monday trade.
