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

THE DRILL SERGEANT: OzAurum Resources (ASX: OZM) appeared pleased with results from a recently completed ten-hole reverse circulation (RC) program Demag Zone gold discovery at the company’s Mulgabbie North project in Western Australia.

OzAurum Resources reported results from RC holes that included:

MNORC 192
57 metres at 1.05 grams per tonne gold – (from 119m), including 21m at 1.31g/t gold and 10m at 1.72g/t gold;

MNORC 184
20m at 2.55g/t gold – (from 251m), including 10m at 3.62g/t gold;

MNORC 191
43m at 0.82g/t gold – (from 56m), including 15m at 1.32g/t gold; and

MNORC 186
1m at 19.6g/t gold – (from 43m).

OzAurum also received results for a second diamond hole recently completed at the Demag Zone that included:

MNODH 003
40m at 0.95g/t gold – (from 92m), including 5m at 3.32g/t gold; and

9m at 1.52g/t gold – (from 137m), including 3m at 3.05g/t gold.

Diamond drilling has continued at the Demag Zone with fourth diamond hole, MNODH 005, at a current depth of 74m and planned to be drilled to a depth of 600m.

An additional nine-hole RC drilling program is planned to commence soon.

“We are excited to report on the significant drilling progress at our Mulgabbie North gold project,” OzAurum Resources CEO and managing director Andrew Pumphrey said in the company’s ASX announcement.

“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.

“We look forward to providing shareholders with further drilling updates at this exciting new discovery.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: info@ozaurumresources.com

Web: www.ozaurumresources.com