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Highlights:
- Notable Drilling Results: OzAurum Resources (ASX:OZM) uncovers significant high-grade gold with 4m at 10.21g/t within a broader 20m zone grading 3.57g/t gold.
- Strategic Significance: The discovery at Mulgabbie North is linked to historical findings, suggesting substantial mineralization along the Relief Shear.
- Expansion Plans: A reverse circulation drilling program is set to explore further high-grade zones, supported by a heap leach feasibility study.
OzAurum Resources (ASX:OZM) has revealed high-grade gold mineralization at its Mulgabbie North project in Western Australia. Recent drilling results show a 4-meter intercept grading 10.21g/t gold, located within a broader 20-meter zone averaging 3.57g/t gold. Additionally, a 10-meter intercept at 6.59g/t gold was recorded, demonstrating the high-quality nature of the mineralization. Drill holes in the area also intersected gold at greater depths, pointing to the potential for even richer deposits.
Strategic Location and Historical Exploration
Mulgabbie North lies just 1.3 kilometers south of past exploration activities conducted by Gutnick Resources in 1998. Historical drilling encountered significant gold mineralization but was not fully explored. The area remains under-explored, with OzAurum’s recent findings suggesting that there is much more to uncover in this gold-rich region. The proximity to existing mineralization enhances the significance of this new discovery.
Plans for Further Exploration
To build on these encouraging results, OzAurum Resources has outlined a plan to launch a reverse circulation (RC) drilling program. This new campaign aims to further investigate the high-grade zones identified in recent drilling and expand the mineralization footprint. The RC drilling program will test the continuity of gold mineralization at greater depths, providing additional insight into the resource’s full extent.
Feasibility Study for Early Production
A heap leach feasibility study is underway at Mulgabbie North, aimed at evaluating the viability of early-stage gold production. The study is supported by Line Hydrogen, ensuring the financial resources needed to assess the project’s development. This study could lead to near-term cash flow, accelerating the timeline for production and adding further value to the project.
Leadership Changes to Support Growth
As part of its strategy to advance the Mulgabbie North project, OzAurum Resources has appointed Jessica Fertig as a non-executive director. Fertig brings over a decade of experience in investor relations and corporate finance, equipping the company with the expertise needed to navigate its growth and development. This leadership change underscores the company’s commitment to moving the project forward and achieving its objectives for 2025.
