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Highlights
- Auric Mining completed reverse circulation drilling at the Spargoville Gold Project.
- Fugitive Prospect assays revealed gold grades reaching 12.1 grams per tonne.
- Further exploration is planned for both Fugitive and Anomaly 37 prospects.
Auric Mining (ASX:AWJ) has made significant progress at its Spargoville Gold Project in Western Australia, delivering encouraging results from a 17-hole reverse circulation (RC) drilling program. The focus of this exploration by the ASX mining stock was on two key areas: the Fugitive and Anomaly 37 prospects. These findings further underscore the region's mineral potential.
The standout results came from the Fugitive Prospect, where gold grades reached as high as 12.1 grams per tonne (g/t). Specific drill intercepts included 7 meters at 4.88 g/t of gold, with a concentrated section of 3 meters at 10.36 g/t. Additional highlights included 2 meters at 10.69 g/t and 1 meter at 12.1 g/t. These results have drawn attention to Fugitive as a potentially promising site for further detailed exploration.
At Anomaly 37, the RC drilling represented an initial exploration phase aimed at defining a tabular anomaly for future targeting. While the work here is at an earlier stage compared to Fugitive, the newly identified target shows potential for further investigation.
Auric Mining's managing director, Mark English, commented on the promising nature of the Fugitive Prospect, noting its anomalous core spans a length of over 700 meters. However, the depth of the mineralization remains uncertain and will require additional study. He also highlighted the importance of opening a new exploration opportunity at Anomaly 37, signaling the company’s commitment to further drill campaigns in the area.
These results not only enhance the understanding of the Spargoville region but also add to the growing portfolio of high-grade gold assets in Western Australia. Auric Mining’s plans for continued drilling are expected to shed more light on the project’s full potential.
Auric Mining’s stock has been actively trading at 26 cents, reflecting interest in the company's ongoing exploration efforts. The latest drilling success has positioned the Spargoville Gold Project as a key area of focus in the company’s broader growth strategy.
