- OzAurum Resources (OZM) completes the first stage of its reverse circulation (RC) drilling program at the Patricia Gold Project in Western Australia
- So far, 16 out of 28 holes have been drilled to target high-grade gold mineralisation beneath the Patricia open pit
- The next stage of drilling will begin on July 19 while samples from the first stage are being assayed
- Additionally, OzAurum acquires an exploration licence for a prospective arethat’s adjacent to the Patricia project for $75,000 in cash
- Company shares closed up 4 per cent at 13 cents
OzAurum Resources (OZM) has completed the first stage of its reverse circulation (RC) drilling program at the Patricia Gold Project in Western Australia.
The company is undertaking the first drilling program at this project in more than 30 years. The program includes 28 holes which are aimed at targeting high-grade gold mineralisation immediately beneath the existing Patricia open pit.
So far 16 holes for 2420 metres have been drilled and samples have already been dispatched to the lab for assaying.
Once received, the results will help to update the company’s 3D geological model of the project’s gold mineralisation.
RC drilling will recommence at the Patricia Gold Project on July 19 to complete the next stage of the program. The company also plans to conduct a diamond drilling program once a suitable diamond rig has been sourced.
Additionally, the company fully acquired an exploration licence that sits adjacent to the Patricia Gold Project. EL 31/1186 was acquired from Revolution Mining for $75,000 in cash.
The new tenement adds an extra six kilometres of highly prospective area along strike to the south of Patricia. The acquisition provides the company with more exploration opportunities over the highly prospective Patricia Gold Project.
Company shares closed up 4 per cent at 13 cents.