• 8,886 ounces produced, 46% above budget
• Average head grade of 2.46g/t, exceeding 1.80g/t target
• Recovery rate of 89.5%, exceeding 83.3% target
• Results confirm Munda as a substantial gold resource

Auric Mining Limited (ASX: AWJ) has reported final results from its Munda Starter Pit, which have significantly outperformed expectations. A total of 8,886 ounces of gold was produced, 46% above the budgeted 6,100 ounces. The reconciled average head grade for the Starter Pit was 2.46g/t, compared to a predicted grade of 1.80g/t. The overall recovery rate was 89.5%, exceeding the predicted 83.3%. The higher-than-expected grades and recoveries were particularly evident in the second campaign, where ore from the bottom half of the Starter Pit was processed, yielding a head grade of 3.18g/t. An additional 18,000 tonnes of ore at an estimated grade of 1.8g/t remain on the ROM pad, representing a further 935 ounces. In total, the Starter Pit has provided 61% more ounces than the original Reserve estimate. The company attributes this to the influence of localised very high gold grades that were difficult to model previously. Auric's total combined value of cash, bullion, and listed investments stands at A$43.0 million as of 18 March 2026. The successful Starter Pit results have provided valuable insights into the Munda orebody, and the company has now commenced detailed scoping and planning for the larger Munda Main Pit, which represents a major growth opportunity.

Auric is planning a larger Munda Main Pit operation, building on the success of the Starter Pit. The company is now commencing detailed scoping and planning for the Main Pit, which is expected to be a major growth opportunity.