OzAurum Resources Ltd (ASX: OZM) Reports High-Grade Gold Discovery
The recent geological exploration by OzAurum Resources Ltd (ASX: OZM) at its Patricia Gold Project has unveiled impressive rock chip assays, highlighting high-grade gold results from the newly discovered Heysen’s Find prospect. Notably, rock chip samples returned grades reaching 16.23 grams per tonne (g/t) Au, with several others above 2 g/t Au from a mineralised zone extending over 250 metres in strike.
Exploration Highlights
Rock chip sampling at Heysen’s Find, located approximately 7.5km south of the Patricia Open Pit Gold Mine, showed extensive mineralisation. Key high-grade samples included 16.23 g/t Au, 10.33 g/t Au, and 6.20 g/t Au among others. These samples demonstrate strong potential for deeper mineralisation, with gossan boxwork textures indicating the presence of pyrite at depth. Additionally, the favourable structural geology of the area, situated near the significant Hootanui Fault, contributes to the prospectivity of this region.
Future Directions
OzAurum plans to enhance exploration efforts through geological mapping, further rock chip sampling, and eventually a Reverse Circulation (RC) drilling program upon receiving necessary approvals. CEO and Managing Director Andrew Pumphrey remarked, “The new gold discovery at Heysen’s Find presents an exciting RC drilling target for OzAurum. Our interpretation shows the Patricia shear extends gold mineralisation 7.5km south from the Patricia Gold Mine to Heysen’s Find.”
The company is in the process of organising heritage and archaeological studies scheduled for early next year, in conjunction with a Section 18 application to explore on its tenement E31/1186.
Company Overview
OzAurum Resources Ltd focuses on gold exploration in Western Australia and holds significant projects across the Eastern Goldfields including lithium, niobium, and rare earth elements prospects in Brazil.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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