OzAurum Resources Ltd (ASX:OZM) welcomes high-grade gold results from diamond drill holes recently completed at the company’s flagship Mulgabbie North Project in the Eastern Goldfields of Western Australia.
The three diamond holes have all intersected wide zones of alteration and sulphides, with significant mineralisation including:
- 33 metres at 1.02 g/t gold from 90 metres, including 14 metres at 1.46 g/t from 92 metres and 7 metres at 1.27 g/t from 112 metres;
- 26 metres at 0.85 g/t from 99 metres, including 3 metres at 2.36 g/t from 99 metres, 2 metres at 3.04 g/t from 115 metres and 1-metre at 5.30 g/t from 116 metres;
- 7 metres at 1.41 g/t from 66 metres; and
- 4 metres at 1.35 g/t from 216 metres.
The diamond drill rig is being operated by OZM, with the company paying operating costs only.
This rig and associated equipment are owned by CEO Andrew Pumphrey and have been supplied to the company at no cost, which gives OZM maximum flexibility when it comes to diamond drilling requirements.
The company has planned a program of reverse circulation (RC) drilling, starting November 28, to test new structural targets and extensions of the Demag Zone.
In addition, Sighter CIP metallurgical test-work is expected to be completed in the coming weeks, with Sighter Heap Leach metallurgical test-work planned for the first quarter of 2023.
Mulgabbie North’s proximity to Northern Star’s Carosue Dam mill and its potential to host significant gold mineralisation are fuelling the company’s enthusiasm as it progresses towards a maiden mineral resource estimate.
Testament to scale of programs
“OzAurum continues to advance its highly prospective Mulgabbie North Project which has delivered further excellent diamond drilling results,” CEO and managing director Andrew Pumphrey said.
“The Mulgabbie North maiden mineral resource estimate, planned in Q1 2023, is a huge milestone for the company to achieve in just two years since listing on the ASX and is testament to the scale of our advanced exploration programs.
“The company continues to rapidly progress its exploration efforts at Mulgabbie North, with Sighter CIP metallurgical test-work to be completed soon, in addition to the commencement of RC drilling next week and the continuation of our ongoing diamond drilling program.
“We look forward to updating the market on further exploration results as they become available.”