Quarterly Activities Report
Perth, Oct 26, 2021 AEST (ABN Newswire) - OzAurum Resources Ltd (
ASX:OZM) is pleased to provide a summary of activities for the September 2021 Quarter. Over the Quarter, the Company continued to deliver excellent results from its large-scale Reverse Circulation (RC) and Aircore (AC) drilling programs at the Mulgabbie North Project situated North East of Kalgoorlie and adjacent to Northern Star Limited's (ASX:NST) Carosue Dam Mine operations. In addition, OzAurum completed its Maiden Drilling Campaign at its 100%-owned Patricia Gold Project situated 40 kilometres (km) north east of Mulgabbie, delivering exceptional high-grade gold hits.
HIGHLIGHTS
- High grade gold mineralisation continues to be intersected at the James and Ben prospects at Mulgabbie, with mineralisation open along strike and at depth.
- RC holes that intersected significant gold mineralisation include MNORC 074 with 10m @ 2.8 g/t gold (Au) from 17m including 1m @ 21.6 g/t Au and MNORC 065 with 11m @ 2.14 g/t Au from 27m including 1m @ 19.75 g/t Au.
- Numerous high grade gold intersections encountered along the existing Patricia open pit including PTORC024 5m @ 37.11 g/t Au - consistent with historical mined grade of 41 g/t Au.
- Visible gold intersected at Patricia in two RC holes PTORC 022 (154-155m) and PTORC 024 (156-157m).
- AC drilling identifies widespread gold zone up to 2.8km long and 150m wide at Mulgabbie North, north of the Ben prospect along the Relief Shear. The new gold zone potentially represents the near surface footprint of significant primary gold mineralisation and high-grade gold paleochannel hosted mineralisation.
- Significant new primary gold mineralisation intersected over a wide zone at the Alicia Prospect situated 1km south east of the Ben Prospect.
- Additional 10,000m RC drilling campaign commenced to expand on current drilling at the James and Ben Prospects at Mulgabbie North, along with three significant regional prospects on recently granted tenements along the Relief Shear - the Golden Goose, Alicia and Libby Prospects.
- Acquisition of strategically located Exploration Licence (EL) 31/1084 adjoining the Libby Prospect (100% interest) for a cash consideration of $120,000 and a 2% NSR on gold produced.
- Recently granted tenements E28/3003, P28/1256 and P28/1257, allowing for systematic exploration by the one company along the 8km-long Relief Shear for the first time.
- Drone magnetometer survey being completed over Mulgabbie North area to assist with current interpretation of cross cutting faults along the Relief Shear.
To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/1JF5495T
About OzAurum Resources Limited
OzAurum Resources Ltd (ASX:OZM) is a Western Australian gold explorer with two advanced gold projects located 130 km north east of Kalgoorlie. The Company's main objective is to make a significant gold discovery that can be brought to production.
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