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- Ozz Resources (OZZ) says it has received “excellent” results of up to 9.1 grams of gold per tonne (g/t) from its maiden drill program at the Maguires Gold Project in WA
- The company recently completed its maiden 4300 metre reverse circulation drill program at the Old Prospect, with results outlining two zones of mineralisation
- The company says the high-grade tenor of the results confirms the potential of the project, with further drilling required
- The company says planning is underway for stage two drilling, which is set to commence once approvals are obtained
- Ozz Resources is down 2.78 per cent, trading at 17.5 cents at 2:30 pm AEDT
Ozz Resources (OZZ) said it had received recent “excellent” results from its maiden drill program at the Maguires Gold Project in WA
The company recently completed its maiden 4300 metre reverse circulation drill program, north of Cue. The 45-hole program targeted the Old Prospect, with results outlining two zones of mineralisation. These remain open along strike and at depth.
Best intercepts include six metres at 3.23 grams of gold per tonne (g/t) from 31 metres and 7 metres at 9.1 g/t gold from 81 metres.
The company said the high-grade tenor of the results confirmed the potential of the project, with further drilling required.
Ozz Resources Managing Director, Jonathan Lea said the results marked a bright start to the company’s journey as a listed gold explorer.
“The results have met or exceeded our expectations, returning some broad zones of strong, high-grade gold mineralisation including several standout intercepts such as 7 metres at 9.10g/t and 7 metres at 4.50g/t,” Mr Lea said.
“Importantly, the mineralized intervals show correlation with the historic drilling, giving additional confidence that OZZ can advance rapidly towards resource definition following further drilling.
“The high-grade shoots represent a very attractive target for future drilling.”
The company said planning was now underway for stage two drilling, which is set to commence once approvals are obtained to provide additional data to calculate a maiden JORC mineral resource.
Despite the news, Ozz Resources is down 2.78 per cent, trading at 17.5 cents at 2:30 pm AEDT.
