- OzAurum Resources (OZM) intersects up to 93.9 grams of gold per tonne (g/t) from the Patricia Gold Project in Western Australia
- In the first drilling program undertaken at the project in more than 30 years, 35 reverse circulation holes have been drilled
- The aim of this program was to target high-grade gold mineralisation immediately below the existing open pit
- A diamond drilling program has been planned and is set to begin once the rig mobilises to the site in the coming months
- Shares in OzAurum are up 6.9 per cent and are trading at 15.5 cents at 12:12 pm AEST
OzAurum Resources (OZM) has intersected up to 93.9 grams of gold per tonne (g/t) from the Patricia Gold Project.
The project lies northeast of Kalgoorlie in Western Australia and is within the Celia Tectonic Zone.
In the first drilling program undertaken at Patricia in more than 30 years, 35 reverse circulation (RC) holes, for 6530 metres, have been drilled.
The aim of this program was to target high-grade gold mineralisation immediately below the existing open pit.
While all results are yet to be received, OZM has so far confirmed that four metres at 38.08g/t gold including one metre at 93.9g/t gold has been intersected.
Other results include one metre at 21g/t gold from 118 metres, one metre at 6.72g/t gold from 94 metres; and one metre at 5.48g/t gold from 96 metres.
These results indicate that Patricia is structurally complex and with late stage faulting which is offset by gold mineralisation.
Assays for a further 24 RC holes are pending and are expected in due course.
A diamond drilling program has also been planned and is set to begin once the rig mobilises to site in the coming months.
CEO Andrew Pumphrey is pleased with the results received so far and is excited to see what the other holes intersect.
“The initial drill results from RC drilling at Patricia, including intersecting four metres at 38.08g/t gold, represents a very exciting start to exploration at Patricia,” Mr Pumphrey said.
“This is an exceptional result and validates the high grade potential of the Patricia Gold Project. We eagerly await the assay results from this drilling.”
Shares in OzAurum were up 6.9 per cent, trading at 15.5 cents at 12:12 pm AEST.