OzAurum Resources Ltd (ASX:OZM) has delivered several highlights from a recently completed reverse circulation (RC) program at the new virgin gold discovery Demag Zone recently discovered at Mulgabbie North.
Ten RC drill holes were recently drilled at the Demag Zone for a total of 2,100 metres, with significant wide downhole intervals of silicification with pyrite and arsenopyrite mineralisation intersected.
RC drilling has confirmed the host conglomerate unit has a true thickness of approximately 120 metres.
The highlights are many and include:
- A 10-hole RC program for 2,100 metres has been completed at the Demag Zone.
- Significant wide downhole intervals of silicification with pyrite and arsenopyrite mineralisation has been intersected in current RC drilling.
- The third diamond drill hole, MNODH 004, has commenced at the Demag Zone with a planned depth of 400 metres.
- Thick sequence of Mulgabbie North gold host – intermediate volcanoclastic lithology has been intersected in the RC drilling – and is interpreted to be approximately 120 metres in true thickness.
- Current RC holes aimed to target extensions of gold mineralisation associated with MNORC 177 - 56 metres at 1.31 g/t gold from 68 metres including 18 metres at 2.07 g/t and MNORC 176 - 26 metres at 1.79 g/t from 136 metres including 8 metres at 4.78 g/t.
- Mineralisation intersected in MNORC 177 is associated with pyrite and arsenopyrite mineralisation and quartz veining.
- The Demag Zone hosts significant reverse circulation (RC) gold results over three 100-metre spaced drill lines 8300N, 8400N and 8500N.
- Mulgabbie North Relief Shear continues to demonstrate its potential to host significant gold mineralisation directly adjacent to the Northern Star Resources Carosue Dam mill.
“We are excited to report on the significant drilling progress at our Mulgabbie North Gold Project," OZM CEO and managing director Andrew Pumphrey said.
"The recently completed RC drilling at the new virgin gold discovery Demag Zone has intersected mineralisation that closely correlates with adjacent RC holes MNORC 176 and 177, further validating the potential of Mulgabbie to be a significant gold discovery. We look forward to providing shareholders with further drilling updates at this exciting new discovery,”
More about the drilling
While 10 holes have been drilled, OZM is also planning a third diamond hole to be drilled to a depth of 400 metres. Significant zones of faulting were intersected in diamond holes MNODH002 and MNODH003, and these faults may impact on the final depth of the current third diamond hole.
The second diamond drill hole MNODH 003 at the Demag Zone, on the 8400N section, was planned to target gold mineralisation at a depth previously intersected by RC drill hole MNORC 177.
Read: OzAurum Resources soars on discovering 56 metres at 1.31 g/t gold at Mulgabbie North
Diamond hole MNODH 003, which was drilled to a depth of 335 metres, has intersected zones of arsenopyrite and pyrite mineralisation with silica flooding that correlates well with mineralisation seen in recently drilled RC hole MNORC 177.
For a more geological review of today’s announcement see the company’s ASX announcement.
A structural geology consultant is undertaking structural analysis and interpretation on diamond core from both Mulgabbie North Demag Zone and Patricia that started on May 23.
What’s next
As high priority, OZM will now conduct follow-up RC drilling at the Mulgabbie North Demag Zone. It will also continue with RC drill testing of aircore saprolite gold anomalies and extensions to the Ben and James prospects.
It is expected that best practice RC drilling, sampling and assay protocols will lead to a potential future JORC 2012-compliant resource at Mulgabbie North – to be estimated with confidence.