OzAurum Resources Ltd (ASX: OZM) has commenced diamond drilling at the New Discovery Demag Zone at Mulgabbie North in Western Australia.
Highlights
• Diamond drilling has commenced at the New Discovery Demag Zone within the Mulgabbie North Project.
• Initial diamond holes will target extensions of gold mineralisation associated with MNORC 177 which intersected 56m @ 1.31 g/t gold (Au) (from 68m) incl 18m @ 2.07 g/t Au and MNORC 176 at 26m @ 1.79 g/t Au (from 136m) incl 8m @ 4.78 g/t Au.
• Mineralisation intersected in MNORC 177 is associated with pyrite and arsenopyrite mineralisation and quartz veining.
• The new Discovery Demag Zone hosts significant Reverse Circulation (RC) gold results over three 100 metre spaced drill lines 8300N, 8400N and 8500N.
• Diamond core aims to provide valuable information on lithology, mineralisation, alteration and structure associated with the gold mineralisation at the Demag Zone.
• High priority RC drilling of the Demag zone will commence in four week’s time.
• The Mulgabbie North Relief Shear continues to demonstrate its potential to host significant gold mineralisation adjacent to the Northern Star Resources Carosue Dam mill.
“The latest results from the Mulgabbie North drill program have generated significant intercepts of gold mineralisation in a number of RC drill holes, with the majority being continuous for several metres,” CEO and Managing Director, Andrew Pumphrey, said.
“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 shareholders as we progress our diamond drill programmd at Mulgabbie North.”
Diamond drilling aims to target gold mineralisation at depth- recently intersected in RC drill holes MNORC 177 and 176.
The diamond drilling rig is being operated by OZM with the drill rig and associated equipment, owned by the CEO Andrew Pumphrey, being supplied to the Company at no cost, with OZM paying operating cost only.
This provides OZM with availability of the diamond drill rig as well as maximum flexibility with diamond drilling requirements. The Company is confident that diamond core will provide valuable information on lithology, mineralisation, alteration, and structure associated with the gold mineralisation at the Demag Zone.
Any preferred orientation of high-grade gold zones in this area will be determined via structural analysis of the orientated diamond drill core.
Upcoming RC and AC drilling and Planned Exploration Activities:
Follow up RC drilling at the Mulgabbie North Demag Zone is a high priority, along with ongoing RC drill testing of AC saprolite gold anomalies and extensions at the Ben and James Prospects.
An RC rig is planned to mobilise to site in four week’s time to commence RC drilling at Demag Zone. Utilising best practice RC drilling, sampling and assay protocols will allow for a potential future JORC 2012 compliant resource to be estimated with confidence at Mulgabbie North.
For further information please visit: https://ozaurumresources.com/
