Announcement Date: 2022-09-27
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: OzAurum Resources Ltd.
Project name: Mulgabbie North
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 4m at 3.65g/t Au from 280m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: OzAurum Resources Ltd (ASX: OZM or OzAurum or the Company) is pleased to report significant gold results from diamond drill hole, MNODH 006, that was recently completed at the Company’s new virgin gold discovery Demag Zone within the Mulgabbie North Project area. The Demag Zone continues to demonstrate its potential to host significant gold mineralisation directly adjacent to the Northern Star (ASX:NST) Carosue Dam mill. Gold mineralisation at the Demag Zone is associated with significant wide downhole intervals of sericitecarbonate-chlorite alteration, and a ± hematite dusting ± pyrite ± magnetite which has been intersected in both RC and diamond drilling at the Demag Zone. Further, recent RC and diamond drilling has confirmed the host conglomerate unit having a true thickness of approximately 120m. Petrology has been completed on samples from diamond hole MNODH 006 256-257m (2.12 g/t Au) and MNODH 006 425-426m (0.32 g/t Au) revealing more primary free gold at the Demag Zone despite the grades of fire assay analysis.
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