OzAurum Resources Ltd (ASX:OZM) has delivered gold assays described as "outstanding" from its reverse circulation (RC) and diamond drill program at the Demag Zone virgin gold discovery within the Mulgabbie North Project in Western Australia.
The company recently completed a 2,100-metre RC program across 10 holes targeting extensions at the new discovery Demag Zone, intersecting broad gold mineralisation including:
- 57 metres at 1.05 g/t gold from 119 metres, including 21 metres at 1.31 g/t;
- 43 metres at 0.82 g/t from 56 metres, including 15 metres at 1.32 g/t; and
- 43 metres at 0.82 g/t from 62 metres, including 15 metres at 1.32 g/t.
Strong results were also received from diamond hole MNODH 003:
- 40 metres at 0.95 g/t gold from 92 metres, including 5 metres at 3.32 g/t; and
- 9 metres at 1.52 g/t from 137 metres, including 3 metres at 3.05 g/t.
Diamond drilling continues at the Demag Zone with the fourth diamond hole, MNODH 005, at a depth of 74 metres and is planned to be drilled to 600 metres.
Further, an additional nine-hole RC drilling program totalling 1,900 metres is scheduled to kick off early next week.
Encouragingly, Mulgabbie North Relief Shear continues to demonstrate its potential to host significant gold mineralisation directly adjacent to Northern Star Ltd’s Carosue Dam mill.
“Significant gold discovery”
OzAurum CEO and managing director Andrew Pumphrey said: “RC holes and a second diamond hole drilled at the new virgin gold discovery Demag Zone have continued to intersect significant gold mineralisation, 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.”
Forward plan
Follow-up RC drilling at the Mulgabbie North Demag Zone is a high priority, along with ongoing RC drill testing of aircore saprolite gold anomalies and extensions to the Ben and James prospects.
OzAurum has planned an additional nine-hole RC drilling program, for 1,900 metres of drilling, which is due to commence on July 18.
Utilising best practice RC drilling, sampling and assay protocols will allow for a potential future JORC 2012 compliant resource to be estimated with confidence at Mulgabbie North.
The company-operated diamond drilling rig will continue drilling at the Demag Zone on a four-week-on and two-week-off basis.