Total
0
Shares
Source: OzAurum Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • OzAurum Resources (OZM) receives further results from its reverse circulation (RC) drilling program at the Mulgabbie North Project in Western Australia
  • Results have been received from an additional 16 holes which saw grades peak at 21.6 grams of gold per tonne
  • This drilling forms part of OzAurum’s 20,000-metre drilling program aiming to follow up on gold auger soil anomalies identified in aircore drilling
  • An additional 24 RC holes have been drilled to test previously discovered gold anomalies and the southern extension of the Ben Prospect with results pending
  • OzAurum is up 3.85 per cent on the market with shares trading at 13.5 cents at 2:21 pm AEST

OzAurum Resources (OZM) has received further results from its reverse circulation (RC) drilling program at the Mulgabbie North Project.

Mulgabbie North lies 130 kilometres northeast of Kalgoorlie in Western Australia in one of the richest and most prolific gold-producing belts in the country.

Results have been received from 16 holes, for 2414 metres, which forms part of OzAurum’s 20,000-metre drilling program aiming to follow up on gold auger soil anomalies identified in previous aircore drilling.

This program began in February and to date 104 RC holes, for 15,811 metres, have been drilled.

Best new results include 10 metres at 2.8 grams of gold per tonne (g/t) from 17 metres including one metre at 21.6g/t gold; and 11 metres at 2.14g/t gold from 27 metres including one metre at 19.75g/t gold.

All results received so far further highlight the potential of Mulgabbie North to be a significant gold project.

An additional 24 RC holes, totalling 3160 metres, have been drilled with assays pending at the lab.

The aim of this drilling was to test previously discovered gold anomalies and the southern extension of the Ben Prospect.

Some of the holes have intersected wide zones of quartz veining with associated pyrite and arsenopyrite mineralisation.

CEO Andrew Pumphrey is encouraged by the results and is looking forward to continuing work and receiving further results.

“The additional high-grade gold intercepts achieved through the current RC drilling campaign are very encouraging and provide us with even greater confidence in the Mulgabbie Project,” Mr Pumphrey said.

“We believe that these results, and the many results still pending in the assay labs, have the potential to unlock a significant gold project at Mulgabbie.”

Updates will be made as work progresses and further drilling is undertaken.

OzAurum was up 3.85 per cent on the market with shares trading at 13.5 cents at 2:21 pm AEST.

OZM by the numbers
More From The Market Herald
Future Metals (ASX:FME) - Director, Justin Tremain

" Future Metals (ASX:FME) intersects high-grade mineralisation at Panton

Future Metals (FME) has intersected high-grade mineralisation at its Panton Platinum Group Metal (PGM) project in Western Australia.

" R3D Resources (ASX:R3D) completes third hole at Tartana

R3D Resources (R3D) has completed the third diamond hole on the Tartana mining leases in Queensland.

" Centrex Metals (ASX:CXM) eyes $4m for work at Ardmore and key hires

Centrex Metals (CXM) has received firm commitments to undertake a $4 million share placement.
Auroch Minerals (ASX:AOU) - Managing Director, Aidan Platel

" Auroch Minerals (ASX:AOU) raises $8m to accelerate nickel exploration

Auroch Minerals (AOU) has received firm commitments to raise $8 million via a share placement.