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Auric Mining Limited (ASX:AWJ) has launched a significant drilling campaign at its Munda Gold Mine in Western Australia after securing regulatory approvals and building on the success of its recent Munda Starter Pit mining operation. The company aims to explore a potential western extension of the Munda Resource through a reverse circulation (RC) drilling program consisting of 135 holes totaling approximately 12,900 metres. This initiative seeks to increase gold ounces beyond the figures outlined in the recently published Scoping Study, which targets an open pit operation mining 2.7 million tonnes at 1.75 grams per tonne gold for 155,000 ounces. This drilling program marks a critical step in Auric's plan to resume full-scale mining activities at Munda by late 2027.
Key Points
- Auric Mining Limited (ASX:AWJ) operates gold mining and exploration projects at Munda and Burbanks in Western Australia's Murchison Region.
- The company has initiated a major RC drilling program at Munda, comprising 135 holes over roughly 12,900 metres, targeting extensions of known mineralisation along strike.
- The Munda Resource saw a 32% increase to 192,000 ounces in June 2026, following successful grade control drilling at the Munda Starter Pit in February 2026.
- Auric plans to start an 89,000-metre grade control drilling campaign in August 2026, with geotechnical diamond drilling already underway to aid Ore Reserve estimation in H2 2026.
- Mining operations are projected to recommence at Munda in late 2027, as Auric positions itself as a fully integrated mining company combining Munda and Burbanks assets.
RC Drilling Program Targets Western Extension of Munda Gold Resource
Auric Mining has commenced an extensive RC drilling program to investigate gold mineralisation along the western extension of the Munda Resource. The program includes 135 holes totaling about 12,900 metres, targeting depths up to 120 metres within the mafic volcanic rocks adjacent to the ultramafic contact that hosts most of the Munda Resource. This drilling follows the successful February 2026 mining of the Munda Starter Pit, which yielded high-grade intercepts and contributed to a 32% increase in the in-situ Mineral Resource to 192,000 ounces announced in June 2026.
The drilling focuses on areas with strong historic mineralisation, including notable intercepts such as 13 metres at 14.62 g/t gold from 60 metres in hole AMRC012, 5 metres at 3.46 g/t gold from 87 metres in hole AMRC005, and 4 metres at 3.34 g/t gold from 46 metres in hole AMRC050. The Munda Resource remains open both along strike and at depth, offering multiple exploration targets. By testing this western extension, Auric aims to add ounces to support the Scoping Study pit design, which currently encompasses 2.7 million tonnes at 1.75 g/t gold for 155,000 ounces.
Geotechnical Diamond Drilling Underway to Enhance Pit Design
Alongside the RC drilling, Auric has started a geotechnical diamond drilling program to refine pit wall design parameters for upcoming mining phases at Munda. Westralian Diamond Drillers Pty Ltd has been contracted to drill four HQ3 to NQ3 diamond holes, with work commencing the week of 27 July 2026. This geotechnical drilling will gather vital subsurface data to inform pit stability analyses and enhance the geotechnical model developed from the Munda Starter Pit mining experience.
The geotechnical data is essential for Ore Reserve estimation, scheduled for completion in the second half of 2026. Understanding host rock structural and geotechnical properties is critical for optimising pit design, defining safe wall angles, and planning mining sequences. Advancing this work ahead of full-scale mining recommencement in late 2027 reduces technical risks and supports operational efficiency.
Grade Control Drilling to Improve Orebody Characterisation and Mining Efficiency
Following regulatory approval, Auric plans to begin an approximately 89,000-metre grade control drilling program at Munda in August 2026. This drilling will be conducted on a 5 metre by 5 metre grid across the upper benches of the Scoping Study pit design to provide detailed geological and grade data. Such comprehensive grade control drilling is a standard pre-mining activity that reduces grade uncertainty and enhances mining planning and efficiency.
This program will assist in identifying higher-grade zones, planning haulage routes, and optimising mining sequences to maximise gold recovery. The detailed grade information will support operational scheduling and mining plans when operations restart in late 2027, enabling Auric to mine with greater confidence and efficiency.
Successful Munda Starter Pit Mining Supports Expansion Strategy
The February 2026 Munda Starter Pit mining campaign yielded multiple high-grade intercepts through grade control drilling, validating the quality and consistency of the Munda mineralisation. This success directly contributed to the 32% increase in the in-situ Mineral Resource to 192,000 ounces announced in June 2026.
The positive outcomes from the Starter Pit reinforce the geological model and mining approach at Munda, encouraging Auric to pursue an aggressive resource and grade control drilling program. Managing Director Mark English highlighted that the strong production results provide confidence to advance the major drilling initiatives ahead of mining recommencement in 2027, significantly reducing perceived operational risks.
July 2026 Scoping Study Highlights 155,000 Ounce Open Pit Target
Auric’s July 2026 Scoping Study confirmed the economic potential of an open pit mining operation at Munda, targeting extraction of 2.7 million tonnes at an average grade of 1.75 g/t gold for 155,000 ounces of gold production. This study establishes a baseline development scenario guiding current drilling efforts. Both the extensional RC and grade control drilling programs aim to increase gold ounces and refine mine design within or beyond the Scoping Study parameters.
The Scoping Study underpins management’s confidence in generating significant cash flow from the resource base. As drilling progresses, Auric will evaluate opportunities to expand mineral resources beyond the 155,000-ounce target, potentially enhancing project economics and extending mine life.
Strategic Move Toward Fully Integrated Mining Operations
Auric Mining is strategically advancing toward becoming a fully integrated mining company by combining its Munda and Burbanks gold assets. Current drilling activities at Munda are part of a broader plan to accelerate development of both operations. This integrated approach represents a significant scale-up from development stage to a multi-asset producing mining company.
The planned mining restart at Munda in late 2027 is central to this transformation. By executing drilling programs, completing Ore Reserve estimation, and refining mine design, Auric is establishing the technical foundation for integrated operations. This strategy reflects management’s confidence in Munda’s economics and intent to leverage its success to develop Burbanks, marking a major value inflection point if successful.
Regulatory Approvals Secured and Experienced Drilling Contractors Engaged
Auric has obtained all necessary regulatory approvals to commence drilling at Munda, a critical step in advancing its resource development program. Drill Safe Services Pty Ltd has been contracted to perform the RC drilling of 135 holes totaling approximately 12,900 metres, while Westralian Diamond Drillers Pty Ltd will conduct the geotechnical diamond drilling program. These contractors bring proven expertise in Western Australian gold exploration and development drilling, ensuring quality execution and adherence to timelines.
Approvals cover the extensional RC drilling, geotechnical diamond drilling, and the grade control drilling scheduled for August 2026. This comprehensive permitting and stakeholder engagement process positions Auric to execute its drilling campaigns efficiently, with extensional and geotechnical drilling already underway and grade control drilling imminent.
Resource Expansion Potential and Open Pit Economics
The June 2026 Mineral Resource estimate for Munda totals 4.28 million tonnes at 1.42 g/t gold for 194,000 ounces at a 0.5 g/t cutoff. This includes an indicated resource of 3.5 million tonnes at 1.45 g/t gold for 163,000 ounces and an inferred resource of 700,000 tonnes at 1.30 g/t gold for 29,000 ounces, plus stockpiled material. The Scoping Study pit design targets mining 2.7 million tonnes from this resource, leaving additional mineralisation potentially recoverable at higher cutoff grades or deeper pit designs.
The extensional drilling aims to discover mineralisation beyond the current resource boundary, focusing on the western extension where historical drilling has shown promising intercepts. Success could expand the mineable resource, extending mine life or increasing production capacity. The open pit mining economics are sensitive to mining costs and gold grades, which the grade control and extensional drilling programs seek to better define and optimise. Identifying additional higher-grade zones could significantly enhance project viability.
Development Timeline and Ore Reserve Estimation
Auric has outlined clear development timelines: extensional RC and geotechnical diamond drilling are underway, with geotechnical drilling commencing the week of 27 July 2026. Grade control drilling is planned to start in August 2026, covering approximately 89,000 metres. Ore Reserve estimation, a vital development milestone, is expected to be completed in the second half of 2026. These steps advance the company from resource to reserve estimation, moving closer to formal development approval and mining commencement.
Full-scale mining at Munda is targeted for late 2027, offering investors a transparent timeline. Key milestones to watch include completion of extensional RC drilling, grade control drilling outcomes, Ore Reserve estimation in H2 2026, and announcements on development approvals and mining preparations ahead of the late 2027 restart.
