- OzAurum Resources (OZM) has received first results from its aircore (AC) drilling program at its Mulgabbie North Project in WA
- So far, the company has drilled 31 AC holes out of the planned 30,000-metre drilling program
- All of the holes are being drilled to the top of fresh rock with aims of testing a number of the soil anomalies on the western edge of the project
- Pleasingly, a wide zone of gold mineralisation was identified 100 metres west of reverse circulation drilling as well as up to 6.3g/t gold
- More results will be released in the coming months as drilling progresses
- OzAurum has ended the day 5.41 per cent in the green with shares trading at 19.5 cents
OzAurum Resources (OZM) has received first results from its aircore (AC) drilling program at its Mulgabbie North Project in WA.
So far, the company has drilled 31 AC holes, for 2156 metres, out of the planned 30,000-metre drilling program.
All of the holes are being drilled to the top of fresh rock, aiming to test a number of the soil anomalies on the western project edge.
Pleasingly, a wide zone of gold mineralisation was discovered 100 metres west of the current reverse circulation (RC) drilling program.
OzAurum received results for the first nine RC holes at the beginning of the month with grades peaking at 10.26g/t gold.
The remaining results are pending and will be reported on in due course.
Best results from the aircore program include four metres at 6.3g/t gold from 48 metres, four metres at 1.51g/t gold from 64 metres and one metre at 1.09g/t gold from 48 metres.
OzAurum has concluded that this new zone remains open at depth and along strike and coincides with gold auger calcrete geochemistry anomalies.
“The company is excited that we have intersected these high-grade AC intercepts so early in our large-scale drilling campaign. This new zone of gold mineralisation discovered by aircore drilling is situated 100 metres west of our current RC drilling at Mulgabbie North,” CEO Andrew Pumphrey said.
“In particular, we are excited by the potential of this area where the host rocks are intermediate-felsic volcaniclastic units — very similar to the Northern Star (NSR) Carosue Dam Operations including Karari and Whirling Dervish Gold Mines,” he added.
More results will be released in the coming months as drilling progresses.
OzAurum has ended the day 5.41 per cent in the green with shares trading at 19.5 cents in a $21.18 million market cap.