Company
ASX:OZM
OzAurum Resources Ltd (ASX:OZM) is a gold explorer in Western Australia and a lithium explorer in Brazil. The company is the 100% owner of two long-held gold projects, Mulgabbie North and the Patricia Deposit, adjacent to Northern Star’s Carosue Dam gold mine. In Brazil, OzAurum is advancing the Linopolis Jaime hard rock lithium project in Minas Gerais.
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“The RC holes and 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,” said M
“This raising ensures that OzAurum will be well funded to continue our exploration program at both the Mulgabbie and Patricia gold projects, which we believe will have significant potential to create further value for all of our shareholder
OzAurum's Eastern Goldfields project has proven its potential to be a significant gold discovery.
“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 significa
The raising will be underwritten to $2.0 million by Canaccord Genuity (Australia) Limited which is acting as lead manager and underwriter.
High priority reverse circulation drilling will kick off at the gold discovery in a week.
“The potential connection between high-grade paleochannel gold mineralisation and primary gold mineralisation at Mulgabbie North has identified a new target area with the potential to make another significant new gold discovery,” says CEO.
OzAurum’s diamond drilling program is designed to target extensions to the gold mineralisation associated with two RC holes.
“This new virgin gold discovery is an exciting development at the Mulgabbie North Project which is shaping up to be a significant gold discovery situated right alongside the Northern Star Carosue Dam Mill and we look forward to updating sha
“These excellent results further validates the potential of the Mulgabbie North Gold Project to be a significant gold discovery, situated right alongside the Northern Star Carosue Dam Mill,” says CEO and MD.
Initial holes will twin previously reported RC drilling high-grade gold intercepts and information from these initial diamond holes will be used to plan deeper holes targeting high-grade gold mineralisation at depth.
“These results, coupled with the wide zone of AC gold mineralisation that we recently intercepted at the Alicia Prospect, demonstrate that Mulgabbie North is shaping up to be a significant gold discovery situated right alongside Northern St
The company will kick off a six-month exploration program next month, targeting high-grade gold at the promising Mulgabbie North and Patricia projects.
A six-month drill program is about to kick off, targeting Mulgabbie North – with geology analogous to successful nearby mines – and the Patricia Gold Project, which promises high-grade gold.
“This area is under transported cover that has prevented previous effective exploration and now represents a significant exploration opportunity for us,” OzAurum CEO Andrew Pumphrey said.
“The intersection of a significant wide zone of gold mineralisation in a number of RC drill holes is an extremely exciting development at the James prospect,” says MD.
The webinar will feature OzAurum Resources, Red 5 and Nexus Minerals, which are at different places along the road toward gold production.
