OzAurum Resources Limited (ASX:OZM) Announces New Gold Discovery
High-Grade Gold Discovery
OzAurum Resources Limited (ASX: OZM) has confirmed high-grade gold mineralisation at its Mulgabbie North Gold Project. Recent 1m samples from Aircore drilling at the New Cross Fault Discovery exhibit consistent high-grade gold across multiple intersections.
Drilling Results
Significant drill intercepts include 16m @ 3.21 g/t Au, including 4m @ 10.22 g/t Au at MNOAC 722; 9m @ 6.76 g/t Au EOH, including 4m @ 13.54 g/t Au at MNOAC 705; and 8m @ 3.75 g/t Au at MNOAC 739. These results validate the exploration model, indicating potential for further mineralisation at depth.
Project Expansion and Future Plans
The New Cross Fault discovery, located 1.3km south of previous drilling, enhances the project’s total resource to 260,000 oz of gold. OzAurum has completed a 32-hole Aircore drilling program with assay results expected next week. Reverse Circulation and Aircore drilling will continue as rigs become available to further define high-priority targets.
Executive Comments
CEO and Managing Director Andrew Pumphrey stated, “We are thrilled with the 1m results confirming the New Cross Fault discovery at our Mulgabbie North Gold Project. The consistent high-grade gold mineralisation we’ve encountered in our recent drilling programme underscores the significant potential of this exciting new discovery. Multiple high-grade intercepts, including grades exceeding 10 g/t, reinforce our geological model and suggest we are potentially onto substantial mineralisation. The identification of a new north-south fault structure in the area opens up exciting new exploration avenues. Our drilling program is continuing to expand the known footprint of mineralisation, and with assays pending from another 32-hole aircore drill program, we anticipate further positive news flow in the near future. The Mulgabbie North Project, with its already existing 260,000 oz resource, is rapidly evolving into a compelling gold opportunity. We are committed to advancing our exploration efforts in 2025 and beyond working hard to deliver meaningful growth for our shareholders.”
Motley Fool contributor Abbie Stokes 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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