Quarterly Activities Report
Released
Released
Announcement PDF
Quarterly
Activities
Report
31 December 2024
1
Quarterly Report 31 December 2024
Highlights
Jeffreys Find Gold Mine
•
Stage Two mining at Jeffreys Find
has produced 14,853 ounces of gold
up to 13 January 2025, contributing to
total production of 24,594 ounces
(including Stage One). Gold sales
during this period generated $58.7
million in revenue at an average price
of AUD $3,952 per ounce.
•
There were three campaigns at
Coolgardie mills during the quarter.
Two of the campaigns continued into
January 2025. Mining at Jeffreys Find
was completed on 28 January 2025.
Burbanks Mill
•
The company has entered into a letter
agreement subject to Due Diligence, to
acquire the Burbanks Gold Processing Plant
for A$4.4 million, which includes 180,000 tpa
capacity and critical infrastructure. This
acquisition, located near Auric's existing
gold resources, offers significant value and
growth potential by providing direct
ownership
of
milling
and
related
infrastructure.
•
The company has an exclusive due
diligence period from 16 December 2024 to
10 February 2025 to review technical,
operational, licensing, and legal aspects. If
satisfied, settlement is scheduled for 15
March 2025, with a non-refundable deposit
of A$100,000 already paid.
Munda Gold Project
•
•
Completion of an updated Mineral
Resource estimate and subsequent
Pre-feasibility Study to define 7,400
ounces of Probable Ore Reserves
for a Starter Pit with an estimated life
of five months, commencing in
March 2025 or thereabouts.
Submission of critical permits,
including a Mining Proposal and
Mine Closure Plan, to the relevant
regulatory bodies, with approvals
expected in Q1 2025. Grade control
drilling is underway on a 5m x 5m
pattern in preparation for mining
operations.
Spargoville Gold Project
•
Significant RC drilling results,
including 7m at 4.88 g/t Au and 2m
@ 10.69g/t Au at Fugitive Prospect
demonstrating strong potential for
economically viable deposits.
•
Further RC drilling planned for 2025
to test known mineralisation trends.
Corporate
•
The company reported a strong financial
position with $3.6 million in cash at the end
of the quarter. Further additional cash from
the net income from the sale of gold has
been received in January 2025.
•
Current issued share capital as at today is
now 148,953,371 shares.
Quarterly Report 31 December 2024
2
The Announcement
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to report on its activities
during the 31 December 2024 Quarter.
Managing Director, Mark English said: “The December quarter has created substantial value and
opportunities for Auric Mining, reflecting strong operational progress and strategic advancements
across our portfolio. At Jeffreys Find, the completion of multiple processing campaigns has driven
total Stage Two gold production to 14,853 ounces, contributing to overall production of 24,594
ounces to date. With gold sales generating $58.7 million in revenue at an average price of AUD
$3,952 per ounce, we are in an excellent place. BML Ventures expects to complete mining activities
by late January 2025.
“At Munda, the updated Mineral Resource estimate and definition of an Ore Reserve for a Starter
Pit marked a significant milestone. With 125,000 tonnes of ore at 1.8 g/t Au identified, we anticipate
commencing mining operations in March 2025, pending permit approvals. This project aligns with
our growth strategy and promises to be a valuable addition to our production pipeline.
“Exploration at Spargoville continues to deliver encouraging results. Drilling at Fugitive and
Anomaly 37 has defined promising gold mineralisation, with notable intercepts such as 7m at 4.88
g/t Au and 2m @ 10.69 g/t Au. Our next phase of RC drilling will target areas with the highest
potential for economic deposits.
“The potential acquisition of the Burbanks Gold Processing Plant will be a game-changer for Auric
if we conclude the acquisition. This facility is strategically located near our projects and with
appropriate upgrades will provide us with greater control over milling operations. Subject to
successful due diligence, this acquisition, at a highly competitive price, positions us for long-term
operational efficiency and growth.
“I am proud of the team’s dedication and the significant progress achieved this quarter. As we move
into 2025, Auric remains focused on delivering value to our shareholders and advancing our
projects toward long term sustainable success,” said Mr English.
Quarterly Report 31 December 2024
3
1.0 PRINCIPAL ACTIVITIES
The sixth and seventh processing campaigns for 2024, treating ore from Jeffreys Find is underway
at the end of the December quarter. Processing has ramped up with three campaigns through the
neighbouring Greenfields and Three Mile Hill plants at Coolgardie.
Gold sold from Jeffreys Find Gold Mine in 2024/2025, up to 13 January 2025 has now reached
14,853 ounces. Total gold sales now amount to $58,696,144 with an average sale price of A$3,952
per ounce.
Development work at Munda continues at pace with an updated estimate of Mineral Resources and
subsequent Ore Reserve for a Starter Pit announced. A grade control program on 5m x 5m centres
is underway at the end of the quarter. The necessary four permit applications have been lodged at
DEMIRS and DWER and when granted, will allow mining of the Starter Pit.
An RC program was completed in the Spargoville Project with 17 holes drilled across two prospects:
the Fugitive Prospect and Anomaly 37 Prospect. Future RC drilling will target anomalous trends at
both locations.
Auric’s tenure is divided across two different Native Title claim areas; Marlinyu Ghoorlie to the north
and Ngadju to the south. An agreement signed during the quarter between Auric and the Ngadju
Native Title Aboriginal Corporation represents a commitment to a partnership between Auric and
the Ngadju People and will provide Auric with clarity on Auric’s future operations and development
across all Ngadju country.
Auric has entered into a letter agreement, subject to due diligence, to acquire the Burbanks Gold
Processing Plant and all related assets and infrastructure at the highly competitive acquisition price
of A$4.4M. The acquisition will position the company for further success and longer term growth
through the direct ownership of milling infrastructure in the WA goldfields.
4
Quarterly Report 31 December 2024
2.0 JEFFREYS FIND GOLD MINE
Processing of Stage Two production from
Jeffreys Find was undertaken simultaneously at
two adjacent mills, the Greenfields and Three
Mile Hill Plants, in Coolgardie during the
December quarter. Two gold processing
campaigns were completed at Three Mile Hill
between 20 November 2024 and 5 January 2025.
Another processing campaign at the Greenfields
Mill, Coolgardie started on 28 November 2024
with a target of 142,000 tonnes and was
completed on 20 January 2025.
Final GIC calculations and grade reconciliation
for all 3 campaigns will be completed in the March
quarter.
A total of seven processing campaigns treating
Stage 2 production from Jeffreys Find have been
completed in 2024 or were underway at the end
of the December quarter. Gold sold from Jeffreys
Find Gold Mine in 2024/2025, up to 13 January
2025 has now reached 14,853 ounces. Total gold
sales for the equivalent period now amount to
$58,696,144 with an average sale price of
A$3,952 per ounce.
Up to the 13 January 2025, Auric has received
interim cash distributions totalling A$6,600,000
(ex GST). Auric expects further interim cash
distributions on a regular basis until the final
accounting and completion of all mining and gold
sold.
Stage Two of mining has so far produced 14,853
ounces of gold and combined with the 9,741
ounces produced from 2023’s Stage One mining,
a total of 24,594 ounces. Additional gold ounces
will be produced from ore currently being
processed or calculated from GIC and from
ongoing mining at Jeffreys Find. Mining at
Jeffreys Find was completed on 28 January
2025.
Table 1. Stage Two Mining – Gold Sold
2024
Gold Recovered – Ounces
Previous
Quarters
7,551
December Quarter
Gold Sales
7,302
Total Stage 2 to
13 January 2025
14,853
Average Sale Price per ounce
$3,701
$4,211
$3,952
Gross Gold Revenue
$27,945,282
$30,750,862
$58,696,144
Figure 1. Doré bar at Three Mile Hill Mill
Figure 2. Jeffreys Find Pit
5
Quarterly Report 31 December 2024
3.0 MUNDA GOLD PROJECT
3.1 Updated Mineral Resources
Matrix Resource Consultants Pty Ltd (“Matrix”) completed a new estimate of Mineral Resources for
the Munda gold deposit during the December quarter. This was a precursor to defining an Ore
Reserve for a Starter Pit. To provide estimates with reasonable prospects of eventual economic
extraction, Mineral Resources are reported within an optimal pit shell generated at a gold price of
$AUD3,200/oz.
Mineral Resource estimates at a range of gold cut-off grades are presented in Table 2. The figures
are rounded to reflect the precision of the estimates and include rounding errors.
Table 2. November 2024 Munda gold deposit Mineral Resource estimates
Au g/t
Indicated
Inferred
Indicated + Inferred
Cut-off MTonnes Au g/t
Koz
MTonnes Au g/t
Koz
MTonnes Au g/t
Koz
0.20
7.56
0.72
175
0.5
0.9
14
8.06
0.73
189
0.30
5.51
0.89
158
0.4
1.0
13
5.91
0.90
171
0.40
0.50
0.60
0.70
0.80
0.90
4.24
3.35
2.71
2.24
1.89
1.62
1.06
1.22
1.38
1.53
1.67
1.81
144
131
120
110
101
94
0.3
0.3
0.2
0.2
0.2
0.1
1.2
1.4
1.5
1.7
1.9
2.0
12
14
10
11
12
6
4.54
3.65
2.91
2.44
2.09
1.72
1.07
1.23
1.39
1.54
1.69
1.82
156
145
130
121
114
101
1.00
1.41
1.94
88
0.1
2.1
7
1.51
1.95
95
Since the previous estimate, described in an ASX announcement on 28 January 2022. Auric has
completed a close-spaced drill program on a 10m x 10m pattern over a shallow portion of the Munda
gold deposit. That information and conservative treatment of outlier assay grades has resulted in a
slight reduction in estimated grade relative to previous Mineral Resources. The reporting of
resources within an optimal pit shell reduces the tonnes compared with the earlier estimate. For
comparison, Table 3 presents the January 2022 Mineral Resource estimates. The figures in this
table are also rounded to reflect the precision of the estimates and include rounding errors.
Table 3. January 2022 Munda gold deposit Mineral Resource estimates
Au g/t
Indicated
Inferred
Indicated + Inferred
Cut-off
MTonnes
Au g/t
Koz
MTonnes
Au g/t
0.20
8.928
0.75
215.3
2.807
0.61
0.30
6.113
0.98
193.0
1.597
0.40
0.50
4.598
1.19
176.3
3.684
1.38
163.1
0.60
3.052
1.55
0.80
2.240
1.00
1.737
Koz
MTonnes
Au g/t
Koz
54.7
11.735
0.72
270.0
0.88
45.4
7.710
0.96
238.4
1.070
1.15
39.5
5.668
1.18
215.8
0.797
1.39
35.6
4.481
1.38
198.7
152.0
0.633
1.61
32.7
3.685
1.56
184.7
1.86
133.9
0.450
1.98
28.7
2.690
1.88
162.6
2.14
119.4
0.353
2.28
25.9
2.090
2.16
145.3
The optimal pit shell used to constrain the estimate of mineral resources extends over around 650m
of strike with a maximum width of 300m and reaches a maximum depth of around 150m. It is
outlined in blue relative to resource drill holes, including the 10m x 10m drill pattern, and the existing
Resolute 1999 trial pit in Figure 3.
Quarterly Report 31 December 2024
6
Figure 3. Munda drilling relative to resource pit crest with resource drill holes referenced by
exploration company and hole type.
Cross sectional views of drill hole grades and estimated panel grades relative to the resource pit
are shown in Figures 4 and 5.
Figure 4. Cross section 360390mE – Showing drill hole grade ranges and estimated panel grades
relative to resource pit shell. Panels scaled by proportion above 0.50 g/t cut off and coloured by
the grade above that cut-off.
7
Quarterly Report 31 December 2024
Figure 5. Cross section 360470mE – Showing drill hole grade ranges and estimated panel grades
relative to resource pit shell. Panels scaled by proportion above 0.50 g/t cut off and coloured by
the grade above that cut-off.
3.2 Starter Pit Ore Reserve
Following the completion of an updated mineral resource model, an Ore Reserve was defined by a
Pre-Feasibility Study (PFS). The PFS utilised the recent 10m x 10m spaced (i.e. high-density)
drilling and corresponding Indicated Resources.
Probable Ore Reserves have been derived from Indicated Mineral Resources and constrained to
the higher density (ie, 10m x 10m spaced) drilling portion of the Mineral Resource Estimate. A
‘goodbye-cut’ at the base of the design pit is derived from Indicated Resource which in turn is
derived from 20m x 20m spaced drilling.
The Ore Reserve for a starter pit at Munda represents the first step in potentially staged mining at
Munda. The Ore Reserve representative of the Starter Pit mining plan for the Munda gold deposit
is estimated as shown in Table 4.
Table 4. Munda Trial Pit Probable Ore Reserve
Proved
Probable
Tonnage
Grade
Ounces
Tonnage
Grade
(t)
(g/t)
(oz)
(t)
(g/t)
0
0.0
0
125,000
1.8
Ounces
(oz)
Total
Tonnage
(t)
Grade
(g/t)
Ounces
(oz)
7,400
125,000
1.8
7,400
Note – Rounding errors may occur.
The 125,000t of ore at a grade of 1.8g/t Au defined within the Starter Pit is comprised entirely of
Indicated Resources and is mined in conjunction with 339,000BCM of waste rock, representing a
stripping ratio of 7.6:1.
8
Quarterly Report 31 December 2024
The Ore Reserve was estimated based upon extraction using owner operated conventional open
pit mining and off-site milling at a Third Party owned and operated ore processing facility under a
toll treatment arrangement. The Ore Reserve is inclusive of modifying factors for mining dilution and
mining recovery. Contemporary in-house mining, processing and site costs have been utilised.
Key parameters defined by the Starter Pit PFS are set out in Table 5 below:
Table 5. Munda Starter Pit Pre-Feasibility
Parameter
General
Start Date
Project Life (mining)
Project Life (milling)
Mining
Ore Tonnes
Grade
Contained Gold
Processing
Ore Processed
Grade
Recovery (average)
Gold Production
Financial
Gold Price Assumption
Upfront Project Capital Cost
AISC
Unit
Pre-Feasibility Study November 2024
Quarter
Months
Months
March 2025
5.0
5.0
Kt
g/t
Koz
125
1.8
7.3
Kt
g/t
%
Koz
125
1.8
83
6.1
A$/oz
A$M
A$/oz
3,500
6.5
2,635
The financial model developed for the owner operated mining and ore processing of the Munda
Starter pit demonstrates that at a gold price of A$3,500/oz, the project generates Revenue of
$21.4M and an Undiscounted Cash Flow of $5.3M at a $2,635 All in Cost Per Ounce (Table 6).
Table 6. Munda Trial Pit Pre-Feasibility Cost and Revenue Summary
Generated
Operating
Capital/Startup
Total
Undiscounted
Revenue
Costs
Costs
Royalties
Cash Flow
$M
$M
$M
$M
$M
21.4
15.2
0.65
0.3
5.3
All in Cost
Per Ounce
A$
2,635
The proposed site layout for the Starter Pit is shown in Figure 6. The Starter Pit is represented in
green with the existing 1999 Resolute trial pit outlined in black. Note that the Starter Pit is over 30m
deeper than the Resolute Trial Pit.
Quarterly Report 31 December 2024
9
Figure 6. Munda Starter Pit site layout.
The Starter Pit is shown relative to the resource drill holes and to the crest of the optimal pit shell
used to constrain the resource model in Figure 7.
Cross sections showing drill hole distribution and estimated panel grades for the resource model at
0.85g/t cut-off relative to the Starter Pit are shown in Figures 8 and 9.
Quarterly Report 31 December 2024
10
Figure 7. Munda drilling relative to resource pit crest and to the starter pit crest with resource
drill holes referenced by exploration company and hole type.
Figure 8. Cross section 360370mE – Showing drill hole grade ranges and estimated panel grades
relative to Starter Pit shell. Panels scaled by proportion above 0.85 g/t cut off and coloured by the
grade above that cut-off.
Quarterly Report 31 December 2024
11
Figure 9. Cross section 360390mE – Showing drill hole grade ranges and estimated panel grades
relative to Starter Pit shell. Panels scaled by proportion above 0.85 g/t cut off and coloured by the
grade above that cut-off.
3.3 Mining Permits
Four critical permit applications were lodged during the December quarter: A Native Vegetation
Clearing Permit, Mining Proposal and Mine Closure Plan to the Department of Energy, Mines,
Industry Regulation and Safety (DEMIRS) and a Groundwater Licence application to the
Department of Water and Environmental Regulation (DWERS).
The current expectation is that the permits will be granted in the March quarter 2025 which will allow
site preparation later in the quarter.
3.4 Grade Control Drilling
A grade control drilling program is currently underway at Munda with Kalgoorlie-based Total Drilling
Services Pty Ltd (TDS). The program will reduce drill hole spacing to a 5m x 5m pattern over the
Starter Pit where currently accessible from surface. Due to the constraints of the existing Resolute
Trial Pit, further grade control drilling will be undertaken during mining as bench access is created.
3.5 WIN Metals Munda Lithium Agreement Rescinded
Auric announced the purchase of WIN Metals Limited (ASX: WIN) nickel and lithium rights within
an area defined as the Auric Rights area during the September 2024 quarter.
The purchase of the lithium rights was rescinded during the December quarter when Estrella
Resources Limited (ASX: ESR) alleged a dispute over the assignment of a royalty deed from WIN
Metals to Auric. As a result of the recission of the purchase of the lithium rights at the Munda Gold
Deposit, there is no alleged dispute involving Auric regarding lithium royalties.
Auric retains sole mining rights for the next eight years down to the 235m RL (approximately 150m
below surface) within the Auric Rights Area as a consequence of the mineral rights agreement with
WIN Metals.
Quarterly Report 31 December 2024
12
4.0 SPARGOVILLE PROJECT
A total of 17 RC holes were drilled for 2,497m by Kalgoorlie-based Kennedy Drilling; 12 holes in
the Fugitive Prospect and 5 holes in the Anomaly 37 Prospect.
4.1 Fugitive Prospect
The Fugitive Prospect is outlined by a large and prominent auger-soil gold anomaly and was
targeted by previous explorers with RAB, Aircore and shallow RC holes (Figure 10). A total of 12
RC holes were drilled at Fugitive in the latest program such that Auric have now drilled a total of 17
RC holes along the approximately 700m strike length of the Fugitive Prospect at line spacings of
between 20m and 100m (Figure 10).
Figure 10. The Fugitive Prospect, defined by auger-soil gold anomalism, with Auric RC and Aircore
hole collars and historic drill hole collars.
13
Previous drilling at Fugitive is dominated by drill holes that ended in weathered rock. Many of the
significant assays in the weathered rock are likely to represent a supergene, ie, weathering
enriched and potentially remobilised, component to gold mineralisation. The supergene gold
mineralisation will have a primary (ie, fresh rock) source and Auric’s drill holes have been drilled to
locate and define primary mineralisation.
Quarterly Report 31 December 2024
A gold mineralised envelope or envelopes defined by gold concentrations above 0.1g/t Au can be
recognised within fresh basalt in many of the holes. This is a persistent feature, defined within the
70-90m wide basalt unit along the length of the Fugitive Prospect.
Figure 11. Fugitive Prospect Cross Section 6,534,750m North.
The best result was:
Hole ID
ASRC023
Best result
7m @ 4.88g/t Au from 45m, including 3m @ 10.36g/t from 48m
The intercept occurs above the Top of Fresh Rock and is interpreted as supergene. It is represented
in cross section (Figure 11) with an interpretation showing potential for mineralisation to persist at
depth.
Other significant assays with a likely supergene component include:
Hole ID
Results
ASRC012
13m @ 1.35g/t Au from 58m; and
ASRC015
4m @ 2.32g/t Au from 28m.
Gold intercepts in fresh rock (primary mineralisation) include:
Hole ID
Best results
ASRC021
2m @ 10.69g/t from 81m.
ASRC016
1m @ 12.1g/t Au from 132m; and
ASRC014
9m @ 0.99g/t Au from 73m.
Quarterly Report 31 December 2024
4.2 Anomaly 37 Prospect
14
The Anomaly 37 Prospect is centred approximately 2km north of the Fugitive Prospect, within the
same tenement (E15/1688). It is also defined by a large and prominent auger-soil anomaly and was
targeted by previous explorers with RAB, Aircore and shallow RC holes (Figure 12).
Figure 12. The Anomaly 37 Prospect, defined by auger-soil gold anomalism, with Auric RC and
Aircore hole collars and historic drill hole collars.
The prospect has been described in previous announcements including summaries of drilling by
earlier explorers Ramelius Resources Limited (Ramelius) and Tychean Resources Limited
(Tychean) 1 and by Breakaway Resources Ltd (Breakaway). 2
1 (ASX: AWJ): 2 March 2021. Auric Mining Limited Resources Summary and Exploration Update.
2 (ASX: AWJ): 4 June 2024. RC Drilling at Spargoville – Fugitive Prospect.
15
A small tenement, P15/5912, was recently amalgamated into E15/1688 and 23 historic RAB holes
drilled by Breakaway Resources within that tenement have been incorporated into the prospect
dataset.
Quarterly Report 31 December 2024
A number of significant intercepts were recorded by Breakaway, including LFR192; 8m @ 23.12g/t
from surface, in turn including 1m @ 174g/t Au from 4m. Auric drill hole ASRC010 was drilled
beneath this spectacular intercept (Figure 13).
Significant assays at a 0.5 g/t cut-off from the latest program are recorded in Table 7.
Table 7. Anomaly 37 Significant Assays at 0.5g/t cut-off.
Downhole
Hole ID
From (m)
To (m)
Interval (m)
ASRC007
78
83
5
ASRC008
Au (g/t)
0.88
NSI
ASRC009
60
61
1
0.79
ASRC010
69
70
1
0.51
ASRC010
81
82
1
0.81
ASRC010
99
101
2
0.68
ASRC011
117
120
3
0.58
Significant assays at a 0.5g/t Au cut-off all occur within an approximately 120m wide ultramafic unit,
within which a mineralised envelope is defined by gold concentrations above 0.1g/t Au. The
mineralised envelope is most pronounced in the northern sections and particularly in ASRC010
where it is approximately 35m wide (true width).
Figure 13. Anomaly 37 Prospect Cross Section 6,537,100m North.
Quarterly Report 31 December 2024
4.3 Next Steps at Spargoville
16
The gold mineralised envelopes defined at the Anomaly 37 and Fugitive Prospects have the
potential to host economically significant deposits.
At Fugitive, the southern half of the prospect, over approximately 470m strike length, has been
sparsely tested by RC drilling at line spacings of between 50m and 100m. This area has provided
some of the best supergene (e.g., 7m @ 4.88g/t Au) and primary (e.g., 2m @ 10.69g/t Au) drill hole
intercepts and will be a focus for the next phase of RC drilling.
At Anomaly 37, first pass RC drilling shows that mineralisation is open to the north and that the
zone of anomalous mineralisation is particularly wide beneath high grade historic drill hole LFR192
(8m @ 23.12g/t). Further RC drilling will target mineralisation in both locations.
5.0 BURBANKS GOLD PROCESSING PLANT
Auric has entered into a letter agreement, subject to due diligence, to acquire the Burbanks Gold
Processing Plant and all related assets and infrastructure at the highly competitive acquisition price
of A$4.4M.
The plant currently has 180,000 tpa capacity and has all requisite infrastructure, permits and
licenses including access to critical power and tails dams infrastructure essential to the future
operations of the plant. It is strategically located 15km south of Coolgardie, WA and within trucking
distance of existing Auric gold resources.
The Plant was operational up until approximately June 2019 when the operator closed the facility.
The facility requires a complete review of longer term operations and corresponding upgrades. The
acquisition price is a substantial discount to current and replacement values. This potential
acquisition represents a clear value creation opportunity for the Company.
AWJ has been granted the exclusive right to complete technical, operational, licensing and legal
due diligence as determined by AWJ on the Transaction (Due Diligence) during the period
commencing on the 16 December 2024 and ending at 5.00pm AWST on 10 February 2025
(Exclusivity Period).
17
The offer, subject to and conditional upon completion of all Due Diligence, to Auric’s sole
satisfaction, is a cash payment of Four Million, Four Hundred Thousand Dollars (AUD $4,400,000)
(plus GST) due and payable at settlement, which is scheduled for 15 March 2025. Auric has paid a
non-refundable $100,000 deposit.
Quarterly Report 31 December 2024
The acquisition will position the company for further success and growth through the direct
ownership of milling infrastructure in the WA goldfields.
6.0 OTHER EXPLORATION
No other significant exploration was undertaken during the quarter.
7.0 HERITAGE
An agreement has been signed between Auric and the Ngadju Native Title Aboriginal Corporation
that will provide Auric with clarity on Auric’s operations across all of Ngadju country. It will also help
expedite the granting of mining leases and approvals, provide clarity on long-term planning and
support the growth of Auric’s business.
The agreement was executed on 17 December 2024 in Norseman, WA. The Ngadju Native Title
Aboriginal Corporation, on behalf of the Ngadju People, signed a Project Area Wide Agreement in
relation to Auric’s operations within Ngadju country, which includes Jeffreys Find Gold Mine and
other tenements in the Norseman and Widgiemooltha districts and any other tenements that may
be acquired in the future by the Company. The agreement encompasses the full 102,000km² of
Ngadju area.
The agreement is designed to provide consultative processes, the recognition and continued
enjoyment of the native title rights and interests subject to the Native Title Determination and the
provision of benefits to the Ngadju People.
Figure 14. Ngadju Native Title Determination Area Map.
Quarterly Report 31 December 2024
18
8.0 SAFETY
There were no alternate duty injuries (“ADI”) and no medically treated injuries (“MTI”) reported
during the December quarter. There were no lost time incidents (“LTI”) recorded during the
December quarter.
9.0 ASX COMPLIANCE
9.1
Compliance Statement
The information in this report that relates to exploration results and gold production is extracted from
the Company’s following ASX announcements which are available to view on the Company’s
website, www.auricmining.com.au:
ASX Announcements included in the December 2024 Quarter
Date
Details
28 Oct 2024
Additional Jeffreys Find Ore to be Processed at Three Mile Hill Plant
29 Oct 2024
Rescission of Purchase of Lithium Rights at Munda Gold Project
15 Nov 2024
Spargoville Project Encouraging RC Drilling Results
21 Nov 2024
Milling Underway at Three Mile Hill Targeting Minimum 40,000 Tonnes Parcel
25 Nov 2024
Investor Presentation
29 Nov 2024
Jeffreys Find Gold Mine 142,000 Tonne Milling Campaign Commenced at
Greenfields Mill
10 Dec 2024
Munda Gold Deposit Updated Mineral Resources Precursor to Starter Pit
Mining
10 Dec 2024
Munda Gold Deposit Starter Pit Ore Reserve
12 Dec 2024
Updated Mineral Resources for Munda Gold Deposit - Clarification
12 Dec 2024
Starter Pit Ore Reserve for Munda Gold Deposit - Clarification
13 Dec 2024
Jeffreys Find Gold Mine Further Gold Sales 1,243 Ounces Sold; Total Sales
$5.2M
17 Dec 2024
Conditional Acquisition of Burbanks Gold Processing Facility
20 Dec 2024
Significant Native Title Agreement Executed with Ngadju
23 Dec 2024
Jeffreys Find Gold Mine 2024 Sales Exceed 10,500 Ounces
14 Jan 2025
Jeffreys Find Gold Mine Stage Two Sales Exceed 14,800 Ounces
ASX Announcements referred to from previous quarters
2 Mar 2021
Auric Mining Limited Resources Summary and Exploration Update
1 Dec 2023
Jeffreys Find Gold Mine – Stage One Reconciliation. Total Surplus Cash to
Auric $4.77million, 9,741 Ounces Produced
4 Jun 2024
RC Drilling at Spargoville – Fugitive Prospect
ASX Announcements referred to from WIN Metals Limited
27 Aug 2024
Munda Agreement with AWJ concluded
13 Sep 2024
Alleged Royalty dispute with Estrella
29 Oct 2024
Rescission of divestment of Lithium Rights at Munda
ASX Announcements referred to from Estrella Resources Limited
6 Sep 2024
Dispute with Mt Edwards Critical Metals and WIN
Quarterly Report 31 December 2024
19
The Company confirms that it is not aware of any new information or data that materially affects the
information included in the original market announcements. The Company confirms that the form and
context in which the Competent Persons’ findings are presented have not been materially modified
from the original market announcements. With respect to ASX listing rule 5.3.2, the Company
confirms there were no mine production and development activities carried out by Auric for the
quarter.
All mine production and development activities at the Jeffreys Find Gold Mine are undertaken and
paid for by BML Ventures Pty Ltd. Auric is not a producer or operator. Auric only shares in cashflow
surpluses, as a silent operator, tenement and mineral rights owner.
9.2
Forward Looking Statements
This Announcement contains forward-looking statements which are identified by words such as ‘may’,
‘could’, ‘should’, ‘believes’, ‘estimates’, ‘targets’, ‘expected’, or ‘intends’ and other similar words that
involve risks and uncertainties. These statements are based on an assessment of present economic
and operating conditions, and on a number of assumptions regarding future events and actions that,
as at the date of this Announcement, are considered reasonable. Such forward-looking statements
are not a guarantee of future performance and involve known and unknown risks, uncertainties,
assumptions and other important factors,
Share your feedback
Discover