PROCESSING

Auric strikes Jeffreys Find toll treatment deal

Gold is expected to then be delivered to the Perth Mint for further refining

 Auric managing director Mark English at Jeffrey's Find

Auric managing director Mark English at Jeffrey's Find

Jeffrey's Find ore will be milled at FMR's Greenfields mill 3km east of Coolgardie.

Auric will mine Jeffreys Find in partnership with local mining contractor BML Ventures, with all ongoing and working capital costs to be covered by BML.

The net cash surplus, after costs, will be split 50:50 between Auric and BML.

A decision to mine was taken once the toll milling agreement was finalised.

Gold mineralisation at Jeffrey's Find extends from the surface to at least 110m in vertical depth and is thickest near the surface.

The deposit will be mined in two stages with a starter pit and a final pit.

The starter pit will be mined from April to July, with 150,000 tonnes to be delivered to the Greenfields mill in three parcels.

Gold is expected to then be delivered to the Perth Mint for further refining.

Auric managing director Mark English said equipment mobilisation and detailed mine planning had begun.

"This is an important stage in Auric's growth, to be generating cash within the next six months with negligible downside is a terrific result," he said.

"The cash generated will be used to advance our exploration projects and Munda gold deposit [with] our timing perfect with the surging Australian gold price."

Auric has also lodged an application for a miscellaneous licence to build a haul road linking the site to the Eyre Highway.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions