OzAurum Resources (ASX: OZM) has reported high-grade gold results from recent air core (AC) drilling at its Mulgabbie North Gold Project in Western Australia, confirming a new gold discovery at the New Cross Fault target.
The company’s 1m assay results have returned multiple high-grade intersections, including:
- 16m @ 3.21 g/t gold from 6m, including 4m @ 10.22 g/t gold (MNOAC 722)
- 9m @ 6.76 g/t gold EOH from 12m, including 4m @ 13.54 g/t gold (MNOAC 705)
- 4m @ 4.92 g/t gold from 20m (MNOAC 720)
- 8m @ 3.75 g/t gold from 21m (MNOAC 739)
The New Cross Fault discovery is located 1.3km south of previous drilling along the Relief Shear corridor and strengthens the prospectivity of the 260,000-ounce Mulgabbie North Gold Project. The mineralisation remains open at depth and along strike, with several drill holes ending in gold mineralisation, indicating further potential at depth.
Limited historical drilling in the area, including a vertical RAB hole drilled in 1998 by Gutnick Resources, intersected gold mineralisation but was never followed up. The latest results validate OzAurum’s geological model and highlight the potential for significant gold mineralisation.
The company recently completed an additional 32-hole AC drilling program (987m) targeting the southern extension of the mapped New Cross Fault. Results from this program are expected next week.
Reverse circulation (RC) and further AC drilling are planned to define the full extent of the mineralisation once targeting is finalised and drill rigs become available.
