Auric Mining has enhanced its Munda gold project in Western Australia by acquiring a package of rights and infrastructure from WIN Metals, a critical minerals explorer.

Auric has acquired the remaining nickel and associated minerals rights related to M15/87, a mining tenement at Munda.

The company has also gained access to a fully equipped mining camp including solar panels, generators, bulk fuel storage, and storage containers.

Auric has already paid the first tranche totalling $900,000 acquire the package from WIN. The second tranche – worth $500,000 – is due July 31, with the total consideration being $1.4 million.

Once the purchase is complete, Auric will own all mineral rights at Munda, except lithium. The lithium rights will remain with WIN.

“This acquisition gives Auric greater control over our destiny for open pit mining at our Munda gold mine,” Auric managing director Mark English said.

“Buying all nickel rights from WIN sees us taking another major step forward at Munda. We’ve moved mining at Munda along rapidly this year and are pleased this hurdle to progress our future expansion will be removed.”

Auric has also purchased exclusive water access rights from WIN’s 132N deposit – situated on the same mining lease as the mining camp – for seven years with no associated usage charges.

“There’s not much water around Widgiemooltha, so as part of this transaction, we are acquiring additional access to stored water in the 132N pit,” English said.

“Having adequate water is extremely important for our mining operations. The mining camp is another huge bonus for Auric being located just 6km north of our mine.”

WIN managing director and chief executive officer Steve Norregaard said with mining underway at Munda, divesting the company’s remaining nickel and associated minerals rights was “a natural extension to the initial divestment transaction announced last year”.

“The Munda nickel deposit is a non-core nickel asset for WIN that does not feature in short to medium term development of the Mt Edwards nickel project,” Norregaard said.

“With this transaction WIN preserves the lion’s share of nickel at Mt Edwards whilst meeting key objectives for both parties. For WIN, it realises latent value and allows Auric a clear pathway forward to develop its Munda gold project.”

Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.