Auric Mining (ASX:AWJ) has initiated mining operations at the Starter Pit within its Munda Gold Mine, located in Western Australia. With all necessary infrastructure established, including a mine site office and camp, the company is currently engaged in free-dig mining in the upper, weathered portion of the pit. The initial blast is anticipated within the next two weeks, marking the transition to accessing fresher rock. The Starter Pit phase is projected to last approximately five months.
Auric Mining, with a market capitalization of $33.51 million, forecasts the extraction of 125,000 tonnes of ore from the Starter Pit, estimating a grade of 1.8 grams per tonne of gold. The all-in sustaining cost is projected at $2,635 per ounce. The Munda Gold Mine holds an estimated resource of 145,000 ounces of gold. Following the completion of the Starter Pit, Auric Mining plans to finalize detailed planning for the Munda Main pit, with operations expected to commence in 2026. Managing Director Mark English emphasized the company’s commitment to rapid production since acquiring the tenements in September 2020. The Starter Pit is central to Auric’s strategy, targeting the production of 6,100 ounces of gold from the mined ore.
