OzAurum Resources (ASX:OZM) - CEO, Andrew Pumphrey (right) and Executive Director, Martin Holland (left)
CEO, Andrew Pumphrey (right) and Executive Director, Martin Holland (left)
Source: OzAurum Resources
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  • Shares in OzAurum Resources (OZM) soared today after receiving results from the Mulgabbie North Project in Western Australia
  • Results have been received from 11 reverse circulation (RC) holes drilled to test significant supergene and end of hole aircore gold results
  • Visible gold with primary zones of gold mineralisation was intersected at the Mulgabbie North Demag Zone with grades peaking at 12.15g/t gold
  • Follow-up RC and aircore drilling is a high priority for OzAurum with future work to be used for a potential JORC compliant resource for Mulgabbie North
  • OzAurum is still up 120 per cent with shares trading at 22 cents

Shares in OzAurum Resources (OZM) were up as much as 120 per cent today after receiving results from its Mulgabbie North Project in Western Australia.

Results have been received from 11 reverse circulation (RC) holes drilled to test significant supergene and end of hole aircore gold results.

Visible gold with primary zones of gold mineralisation was intersected at the Mulgabbie North Demag Zone with the mineralisation remaining open at depth and along strike.

Significant results include 11 metres at 1.9 grams of gold per tonne (g/t) from 49 metres including one metre at 12.15g/t gold, and 26 metres at 1.79g/t gold from 136 metres including eight metres at 4.78g/t gold.

OzAurum’s current RC drilling program at Mulgabbie has defined primary mineralisation for over 1.3 kilometres and the company believes further drilling will extend it.

When combined with previous aircore results, new zones of mineralisation have been defined over an eight-kilometre strike, which the company said further highlights the potential of Mulgabbie North to be a “significant” gold discovery.

“The new virgin gold discovery at the Mulgabbie North Demag Zone has intersected significant gold mineralisation in a number of RC drill holes,” CEO and Managing Director Andrew Pumphrey said.

“These excellent results further validate the potential of the Mulgabbie North Gold Project to be a significant gold discovery situated right alongside the Northern Star Carosue Dam Mill.”

Follow-up RC and aircore drilling is a high priority for OzAurum with future work to be used for a potential JORC compliant resource for Mulgabbie North.

OzAurum was still up 120 per cent on the market with shares trading at 22 cents at 11:46 am AEST.

OZM by the numbers
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