SURFACE

Jeffreys Find goes live

AURIC Mining has hit the ground running at the Jeffreys Find gold mine in Western Australia with more than 30,000 tonnes of ore on the run-of-mine pad after four weeks of mining.

 Ore zone is up to 20m wide near surface

Ore zone is up to 20m wide near surface

The project is a joint venture between Auric and Kalgoorlie-based mining contractor BML Ventures.

Jeffreys Find will have just a short project life, with mining expected to wind up in 2024.

The RoM ore will be hauled by triple road trains to the nearby Greenfields mill in Coolgardie owned by FMR Investments.

Gold produced at the mill will be sent for further refining at the Perth Mint.

BML is working to complete an initial pit at Jeffreys Find.

Following that, the partners will subtract costs before splitting remaining proceeds 50:50.

Auric Mining managing director Mark English said the project initially budgeted for revenue at a gold price of $2600 per ounce however, with the price hovering around $2899/oz the company was in a very favourable position.

"We have hit the ground running [and] everything is going better than expected, including our partnership with BML," he said.

"With the surging gold price well above our budget, we expect to generate more cash than anticipated."

English said first ore would soon arrive at the Greenfields mill.

"It won't be long before gold bars are poured," he said.

"We have a disciplined mining partner and everything is right on track."

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The initial pit takes shape at the Jeffreys Find gold mine

 

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