Three companies that have travelled various distances along the road towards gold production will present their investment cases during next Tuesday’s Proactive Gold Webinar.
OzAurum Resources Ltd (ASX:OZM) and Nexus Minerals Ltd (ASX:NXM) are on the exploration section of the road while Red 5 Ltd (ASX:RED) is nearing the finish line with construction advancing at a pace.
The primary projects of these companies are in Australia’s most prolific gold producing region of many years - the WA Goldfields.
To tune into the free webinar on Tuesday, October 12, at 12 noon Sydney time (9am WA time), please register here.
OzAurum Resources
OzAurum Resources is focused on the exploration of two long-held, strategic gold projects in Western Australia - the Mulgabbie North and Patricia project - which together cover a strike length of 10 kilometres of greenstone belt geology in the Norseman-Wiluna Greenstone Belt.
Managing director Andrew Pumphrey will outline the recent exploration successes and upcoming plans.
Most recently the company defined a new gold zone at Alicia Prospect within the Mulgabbie Gold Project 130 kilometres northeast of Kalgoorlie.
Reverse circulation (RC) drilling returned up to 33 metres at 1.24 g/t gold from 93 metres including 8 metres at 3.29 g/t with a new zone of primary gold mineralisation extending over at least 80 metres of strike as it remains open.
Follow up RC drilling at Alicia will start in coming weeks, along with ongoing RC drill testing of aircore saprolite gold anomalies and extensions to the Ben and James prospects.
The Patricia project has also been in the spotlight of late with OzAurum’s maiden RC drilling program returning up to 5 metres at 37.11 g/t and diamond drilling is now planned.
Red 5 Ltd (ASX:RED)
Construction is continuing at Red 5’s King of the Hills (KOTH) Gold Project in the Leonora region with the company on track to commission the 2.4-million-ounce project early next year and produce first gold in mid-2022.
The presentation of chief corporate development officer Patrick Duffy will feature progress to date and upcoming development of one of Australia’s most well-endowed gold assets.
In September the company kicked off installation works on its SAG mill — a crucial piece of equipment that will transform KOTH ore into finer particles for further processing. The 36-foot mill shell is being placed, while the motors, each weighing 62 tonnes, have been lifted into position.
Aside from mill progress, Red 5 also advanced work on its crusher equipment, the carbon-in-leach tanks and power station foundations.
The KOTH project — with 2.4 million ounces in reserve and a 16-year mine life — remains within budget and on schedule.
Nexus Minerals
Nexus managing director Andy Tudor will discuss progress at the advanced Wallbrook tenement package where the company will fast-track 30,000 metres of RC and 3,000 metres of diamond drilling during the current quarter.
There is strong focus on the Crusader-Templar prospect where Nexus recently revealed multiple high-grade gold intersections across 13 RC holes, a discovery that led the board to decide to ramp-up activities.
Results of up to 10 metres at 5.64 g/t gold within 23 metres at 2.85 g/t from 132 metres effectively link the Templar and Crusader prospects together, into one large mineralised system.
Tudor said: “These are certainly exciting times for Nexus following the recent high-grade Crusader-Templar discovery.
"Nexus is the first company to drill the Templar prospect and we are very proud of the work our exploration team has contributed leading to this discovery.”
The company also recently executed an option to purchase the Bethanga Porphyry Copper-Gold Project in northeast Victoria and has ground-based activities underway.
Webinar details
When: Tuesday, October 12, 2021
Time: 12 noon Sydney time, 9am WA time.
Focus: Gold webinar
Register: https://event.webinarjam.com/register/94/38pxoaxr
Questions: Email John Phillips - john.phillips@proactiveinvestors.com