OzAurum Resources Reports Initial Mulgabbie North Mineral Resource Estimate

THE DRILL SERGEANT: OzAurum Resources (ASX: OZM) released the initial combined Mineral Resource Estimate (MRE) for the company’s Mulgabbie North gold project outside Kalgoorlie in Western Australia.

OzAurum Resources reported the Measured, Indicated and Inferred MRE of 11.6 million tonnes at 0.7 grams per tonne gold for 260,000 ounces at 0.3g/t gold cut-off.

The company highlighted 64 per cent of the MRE consists of measured and indicated ounces, which it considers to be a solid basis for the foundation of a Mulgabbie North heap leach scoping study.

“OzAurum has made excellent progress at the Mulgabbie North project achieving this significant milestone for the company within the short period of just two years since listing,” OzAurum CEO and managing director Andrew Pumphrey said in the company’s ASX announcement.

“The high standard of work that has been undertaken and maintained on all the various aspects and levels of activities that have been used to estimate this initial MRE gives us great confidence to move forward with this project.”

The Mulgabbie North MRE consists of five prospect areas all situated along the Relief Shear: James, Ben, Alicia, Demag Zone and Paleochannel.

The company considers there to be MRE expansion potential through future drilling that has potential to connect gold mineralisation between the James, Ben, Demag and Alicia prospects.

Recent re interpretation and relogging of AC drill chips undertaken by OzAurum has confirmed the Mulgabbie North paleochannel extends for over 3.8km and this will be targeted with future drilling.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE