Auric Mines 70,000 BCM in First Month at Munda, Targets 125,000 Tonnes Ore

Mining Milestone Achieved

Auric Mining Limited (ASX – AWJ) has officially commenced mining operations at its Munda Gold Mine Starter Pit in Western Australia, with the first blast detonated on 17 June 2025. This event marks a significant step in Auric’s transition from development to production, as the company moves to monetise its flagship asset.

Over the initial four weeks, Auric has extracted approximately 70,000 bank cubic metres (BCM) of material, predominantly through free-dig methods, indicating favourable ground conditions and efficient mining progress. The Starter Pit, designed to encompass 380,000 BCM, is on track for completion by October 2025.

Ore Quality and Production Outlook

The company estimates that around 125,000 tonnes of ore will be mined from the Starter Pit, with an average grade of 1.8 grams per tonne of gold. Most of this ore is expected to come from the lower sections of the pit during the final two months of operations. This grade is notably higher than the 0.5g/t cut-off used to define the broader resource, underscoring the Starter Pit’s economic potential.

Mining operations are supported by a dry hire fleet including a 125-tonne excavator and four 40-tonne articulated dump trucks, alongside drilling and blasting services managed by Kalgoorlie-based Total Drilling Services Pty Ltd. Auric’s Managing Director, Mark English, expressed confidence in the project’s progress and timing, highlighting the advantage of operating as an unhedged gold producer amid a bullish gold market.

Funding and Future Expansion

Importantly, Auric is fully funded for the Starter Pit phase through proceeds from gold sales at its Jeffreys Find Gold Mine near Norseman, ensuring financial stability during this critical development stage. Looking ahead, the company plans to complete detailed planning for a larger pit at Munda, targeting commencement in 2026. This expansion could significantly increase Auric’s gold production profile and market presence.

The Munda Gold Mine currently holds an estimated resource of 145,000 ounces of gold, providing a solid foundation for Auric’s growth ambitions. The company’s methodical approach to mining and resource management, combined with favourable market conditions, positions it well for the next phase of development.

Strategic Implications

Auric’s progress at Munda reflects a broader trend of junior gold miners capitalising on rising gold prices by advancing projects into production. The company’s ability to meet operational targets without delays or setbacks is a positive signal for investors watching the junior mining sector closely. However, as with all mining ventures, ongoing operational risks and market volatility remain factors to monitor.