OzAurum Resources Ltd (ASX:OZM) extended the Mulgabbie North gold anomaly by 1.4 kilometres during extensive aircore drilling at the project two kilometres from Northern Star Resources Carosue Dam Mine Operations.
The aircore program of 149 holes for 10,556 metres uncovered widespread mineralisation between the Ben and Alicia prospects and the anomaly is now 4.2 kilometres long by 150 metres wide.
OZM plans to follow up new high priority targets with reverse circulation (RC) and diamond drilling in the near future.
This campaign takes the total amount of drilling at Mulgabbie to 663 aircore holes for 48,027 metres.
Highlights
Significant four-metre composite aircore drilling results from holes MNOAC 515-633 at Mulgabbie North include 4 metres at 3.09 g/t gold from 12 metres, 4 metres at 3.03 g/t from 64 metres, 4 metres at 2.00 g/t from 44 metres and 4 metres at 1.68 g/t from 56 metres.
Aircore holes that have ended in high-grade mineralisation include:
- 1-metre at 2.15 g/t gold from 76 metres to the end of hole (EOH);
- 1-metre at 1.65 g/t from 96 metres to EOH;
- 1-metre at 1.52 g/t from 72 metres to EOH;
- 3 metres at 0.98 g/t from 68 metres to EOH;
- 2 metres at 0.96 g/t from 60 metres to EOH; and
- 1-metre at 0.84 g/t from 80 metres to EOH.
Several of the aircore gold intersections are associated with widespread supergene gold mineralisation and paleochannel hosted gold mineralisation.
Drill hole MNOAC 536 was particularly encouraging, intersecting a wide zone of supergene gold mineralisation returning 17 metres at 0.80 g/t from 56 metres, including 4 metres at 1.68 g/t from 56 metres and 1-metre at 1.52 g/t at 73 metres to EOH.
This hole is in an area with no associated historical drilling.
Gold mineralisation intersected in MNOAC 615 - 4 metres at 3.09 g/t - is paleochannel hosted and previously reported high-grade paleochannel gold mineralisation includes 1-metre at 162.5 g/t from 27 metres and 1-metre at 31 g/t from 34 metres.
Results from resampling of previously released composite intersections from holes MNOAC 343–512 indicate a number of + 1 g/t intersections, including MNOAC 378 with 2 metres at 1.94 g/t from 40 metres.
New targets
A number of these new targets that have been identified for future RC drilling coincide with an extensive zone of magnetic destruction and a strong and steep gravity gradient that extends the length of the project.
The company is conducting ongoing assessment of the recently completed detailed drone magnetic survey and close-spaced gravity survey.
Large-scale potential
Widespread gold mineralisation at the 4.2-kilometre-long gold zone is open to the north and the south.
This new zone occurs with OzAurum’s gold auger calcrete geochemistry anomalies, and a gravity low trough similar to the Carouse Dam corridor of riches that includes production of about 1.5 million ounces of gold to date.
“The discovery of a new widespread zone of gold mineralisation within the Mulgabbie North project, which now extends over 4.2 kilometres, provides us with even greater confidence in the large-scale potential of the project," OzAurum chief executive officer Andrew Pumphrey said.
“We are excited by the potential of this area where the host rocks are intermediate felsic volcaniclastic units – very similar to the Northern Star Carosue Dam Karari and Whirling Dervish gold mines.
“Extensive supergene gold mineralisation situated with the magnetic destruction zone on the very steep gravity gradient makes for exciting new targets to be tested with future RC and diamond drilling.
“This area is under transported cover that has prevented previous effective exploration and now represents a significant exploration opportunity for us.”