Quarterly Activities Report
Perth, July 30, 2021 AEST (ABN Newswire) - OzAurum Resources Ltd (
ASX:OZM) is pleased to provide a summary of activities for the June 2021 Quarter. The Company continues to deliver excellent drilling results from the large-scale Reverse Circulation (RC) and Aircore (AC) drilling programs that began earlier this year over the Mulgabbie North Project situated North East of Kalgoorlie and adjacent Northern Star Limited's (ASX:NST) Carosue Dam Mine operations. In addition, OzAurum commenced a Maiden Drilling Campaign at its 100%-owned Patricia Gold Project situated 40 kilometres (km) north east of Mulgabbie, and announced a new 10,000 metre (m) drilling program to extend current drilling and to test newly granted prospects over the Mulgabbie Project area.
HIGHLIGHTS
- OzAurum nearing completion of its large-scale 50,000 metre (m) drilling program at the Mulgabbie North Project
- Intersection of high-grade gold in both RC and AC drilling programs over the period, with best results including 14 m @ 3.89 g/t gold (Au) within a wider zone of 27 m @ 2.20 g/t Au, and includes 5 m @ 9.44 g/t Au (RC) & a significant AC drilling result of 1 m @ 162.50 g/t Au from 27 m (MNOAC 120)
- Significant wide zones of gold mineralisation intersected, with mineralisation open along strike and at depth at both the James and Ben Prospects at Mulgabbie North, with new exciting targets identified at Mulgabbie to be tested with future RC drilling
- Additional 10,000 m RC drilling campaign approved to expand on current drilling at these Prospects, and to target three regional prospects on recently granted tenements along the Relief Shear - The Golden Goose, Alicia and Libby Prospects
- Maiden 28-hole RC drilling campaign underway at OzAurum's 100%-owned Patricia Gold Project with the aim of discovering further high-grade gold mineralisation
- Acquisition of 100% interest in a new tenement, E31/1186, adjoining the Patricia Project - adding an additional 6 km of prospective strike to the Project
- Strategic Board appointments over the quarter including OzAurum director, Martin C Holland, appointed to Executive Director - Head of Corporate, and Stephen Hewitt-Dutton appointed to Chief Financial Officer
- Large-scale drilling at Mulgabbie almost complete and the Company remains well funded to continue exploration activities, with a cash balance of A$7.6m
To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/8LYZS14K
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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