OzAurum Resources Limited (ASX:OZM) Commences Drilling at Mulgabbie North
OzAurum Resources Ltd (ASX: OZM) has initiated drilling at a newly mapped cross-fault target within its Mulgabbie North Gold Project. This strategically located target is situated 1.3 km south of previous aircore drilling along the highly prospective Relief Shear corridor.
Drilling Program and Historical Context
The current program consists of a 32-hole aircore (AC) drilling initiative aimed at reaching fresh rock. The significance of this area is highlighted by limited reverse circulation (RC) drilling conducted 38 years ago, which intercepted notable mineralisation. A 1998 drilling program by Gutnick Resources corroborated the area’s gold potential.
Future Exploration Plans
Looking ahead, OzAurum intends to conduct further drilling in 2025 at other cross-fault positions and to explore a newly mapped 4 km paleochannel exhibiting high-grade gold intercepts, including notable results of up to 162.5 g/t Au.
CEO and Managing Director Andrew Pumphrey stated, “This new cross fault target at Mulgabbie North represents an extraordinary opportunity to uncover untapped gold potential. The lack of follow-up drilling in over 38 years makes this even more exciting. We are eager to see the results from our AC drilling program and are committed to advancing exploration efforts for meaningful growth.”
Patricia Gold Project Update
In parallel, the company has completed a heritage survey for the Patricia Gold Project’s Heysen’s Find and lodged the section 18 application with the Western Australian Department of Planning, Lands and Heritage regarding the Lake Reyside mythological site DAA 2708.
OzAurum Resources remains focused on uncovering gold resources while advancing its exploration programs further into 2025 and beyond.
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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