Auric Mining Ltd (ASX:AWJ) has completed a 17-hole program of reverse circulation drilling at its Spargoville Gold Project in Western Australia – focusing on the Anomaly 37 and Fugitive prospects – with grades as high as 12.1 grams per tonne recorded at the latter.
Assays from Fugitive included 7 metres at 4.88 grams per tonne (g/t) of gold, including 3 metres at 10.36g/t in one hole; 2 metres at 10.69g/t in another; and 1 metre at 12.1g/t in another hole.
At Anomaly 37, the drilling was first pass, seeking to open up a tabular anomaly to target for further exploration.
On the basis of these results, Auric has promised more RC drilling at the prospects in the future.
Managing director Mark English said the drilling reflected the prospectivity of the area.
“The anomalous core to the Fugitive Prospect extends over 700m length and we don’t know to what depth – still too early to say whether there’s something big under there but lots of encouragement,” he said.
“To add to that, we’ve now opened up a new target at Anomaly 37.”
Auric has been trading at 26 cents.
Join the discussion: See what HotCopper users are saying about Auric and be part of the conversations that move the markets.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.