OzAurum Resources Ltd (ASX:OZM) has delivered strong gold grades from reverse circulation (RC) drilling, further extending mineralisation at the new virgin gold discovery Demag Zone of the Mulgabbie North Project in Western Australia.
The company’s RC drilling forms part of a nine-hole program across 1,870 metres targeting extensions at the Demag Zone and intersected gold mineralisation, including:
- 18 metres at 2.00 g/t gold from 90 metres, including 5 metres at 5.68 g/t and 1-metre at 21 g/t;
- 23 metres at 1.24 g/t from 232 metres, including 7 metres at 3.06 g/t and 1-metre at 9.52 g/t; and
- 19 metres at 1.26 g/t from 56 metres.
Notably, diamond drilling is ongoing at the Demag Zone with the fifth diamond hole at a current depth of 450.25 metres and planned to be drilled to a depth of 470 metres.
Diamond results of note are 4 metres at 1.81 g/t gold from 235 metres and 3 metres at 3.09 g/t from 374 metres, including 1-metre at 6.35 g/t.
The Mulgabbie North Relief Shear continues to demonstrate its potential to host significant gold mineralisation directly adjacent to Northern Star Ltd’s Carosue Dam mill project.
Potential to host "significant discovery”
OzAurum CEO and managing director Andrew Pumphrey said: “We are excited to report on the significant drilling progress at our Mulgabbie North Gold Project.
“The RC and diamond holes drilled at the new virgin gold discovery Demag Zone have continued to intersect significant gold mineralisation, further validating the potential of the Mulgabbie Project to host 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.
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 drill rig will continue drilling at the Demag Zone on a 4-week-on /2-week-off basis.
OzAurum will continue to provide regular market updates on exploration activities and report on drilling results as soon as they become available.