Home Sports Auric Mining (ASX:AWJ) begins drilling at Chalice West, WA – The Market...

Auric Mining (ASX:AWJ) begins drilling at Chalice West, WA – The Market Herald

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  • Auric Mining (AWJ) is commencing drilling at its Chalice West project in the Esperance Goldfields region of Western Australia.
  • The company plans to drill about 240 wells to test for gold, nickel, lithium and rare earths, which is expected to take five to seven weeks.
  • The company also arranged for on-site pXRF testing for nickel, lithium, rare earth elements and other minerals
  • Given its close proximity to the Chalice gold mine, as well as its prospects, managing director Mark English believes the project offers an “excellent” exploration opportunity
  • AWJ shares are trading at 7.7 cents at 10:42am AEDT

Auric Mining (AWJ) has commenced drilling at its Chalice West project in the Goldfields-Esperance region of Western Australia.

The company plans to drill about 240 wells to test for gold, nickel, lithium and rare earth elements.

Auric has also set up portable X-ray fluorescence (pXRF) testing for nickel, lithium, rare earths and other minerals.

Auric managing director Mark English said that given its close proximity to the Chalice gold mine and its prospects, he believes the Chalice West project is an “excellent” new exploration opportunity.

“We can see from magnetic imaging that the geology of the Chalice West project mirrors that of the Chalice gold mine and, based on that, requires a significant drilling program,” Mr English said.

“We are drilling just a few kilometers from the Chalice gold mine, which produced nearly 700,000 ounces of gold less than a decade ago, which would be worth more than $1.5 billion at today’s prices.

“Large deposits of lithium and nickel are nearby. We will be studying and testing the data on a number of elements to give us more information about the likelihood of a commercial deposit.”

The 10,700 meter drilling program is expected to take approximately five to seven weeks.

Collected samples will be processed by Intertek Genalysis, with tests expected within four to six weeks.

AWJ shares were trading at 7.7 cents at 10:42am AEDT.

https://themarketherald.com.au/auric-mining-asxawj-kicks-off-drilling-at-chalice-west-wa-2022-10-18/

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