OzAurum drilling hits the high (grade) notes at Mulgabbie North gold project

Drill hits of up to 4m at 14.17g/t gold have led to OzAurum identifying a new high-grade target at its Mulgabbie North gold project.

OzAurum’s drilling has intersected high-grade gold at a new target. Pic: Getty Images

• OzAurum drilling identifies new high-grade gold target at its Mulgabbie North project

• Notable results include 4m at 10.21g/t gold within a broader 20m intercept at 3.57g/t gold

• Company to launch reverse circulation drill program once a rig is available

Special Report: Aircore drilling by OzAurum has identified a new high-grade target along the Relief Shear at its Mulgabbie North gold project in WA’s Eastern Goldfields region.

Notable 4m composite results from the drill program are 20m grading 3.57g/t gold from surface including 4m at 10.21g/t (MNOAC 722) and 10m at 6.59g/t gold from 12m including 4m at 14.17g/t (MNOAC 705).

Several holes also ended in gold mineralisation while oxidised former pyrite and arsenopyrite mineralisation was observed in drill chips from multiple drill holes. That indicates there’s the potential to find gold mineralisation at depth.

OzAurum Resources’ (ASX:OZM) drilling defined a significant gold mineralisation zone that varies in width from 25m up to over 75m and along strike for over 400m. Notably, it remains open at depth and along strike.

The drilling tested a newly mapped cross-fault target ~1.3km south of historical drilling that was previously undrilled by the company.

It does, however, align with historical drill intercepts that were never followed up. A wide-spaced drill program carried out by Gutnick Resources in 1998 included a vertical rotary airblast hole that intersected significant mineralisation.

Host lithology at the new cross fault target is identical to the 260,000 oz Mulgabbie North mineral resource and is also situated on the Relief Shear.

Aircore drill hole locations. Pic: OzAurum Resources

Validation

“This exciting new shallow high-grade gold discovery at Mulgabbie North validates our team’s exploration strategy and underscores the significant potential of this project located in one of Western Australia's most prospective gold corridors,” managing director Andrew Pumphrey said.

“The multiple shallow, high-grade intercepts, starting from surface, are particularly promising. We're especially pleased to have identified this new zone on the Relief Shear, just 1.3km south of previous drilling.

“This discovery, combined with historical results in the area, strengthens our belief that Mulgabbie North has the potential to host a substantial gold deposit. What makes this even more compelling is that the target hasn’t seen meaningful follow-up drilling in over 38 years!

“These AC drill results are the best we’ve seen at the Mulgabbie North project since we commenced exploration – spanning over 51,000 metres of AC drilling across 753 holes.

“With its proximity to the 260,000oz Mulgabbie North mineral resource and its location along the highly prospective Relief Shear, this target has strong potential to add inventory to our mineral resource.

Mulgabbie North

The 158km2 Mulgabbie North is adjacent to Northern Star’s Carosue Dam gold operation, which contains a large 4.2Mtpa mill.

It currently hosts a resource of 260,000oz resource at a 0.7g/t ore grade with a high level of certainty given that 64% is contained in the higher confidence measured and indicated categories.

A heap leach feasibility study is currently underway to study the potential for a trial pit and heap leach operation to bring the project into near-term production and deliver early cash flow.

OzAurum noted at the end of January that the design phase is progressing well with plans for the trial pit and heap leach being finalised.

This work is fully funded by Line Hydrogen.

“We’re excited to accelerate our drilling program, including RC drilling and further AC drilling, where we expect to hit more high-grade gold mineralisation,” Pumphrey added.

“We will commence a RC drilling program when a rig becomes available, and we’re eager to see the results, particularly given the significant gold mineralisation identified.

“We are committed to advancing our exploration efforts in 2025 and beyond to deliver meaningful growth for our shareholders.”

Director appointment

OZM recently appointed Tau Media founder and managing partner Jessica Fertig as a non-executive director, replacing Andy Tudor who stepped down on January 13, 2025.

Fertig has over a decade of experience in investor relations and has been instrumental in the successful delivery of multiple initial public offerings.

Prior to founding Tau Media, Fertig worked in roles in private equity, research equities and at leading financial PR and investor relations agencies, giving her a comprehensive understanding of the financial and corporate landscape.

She also serves as a director of Australian Women in Mining and Resources.

This article was developed in collaboration with OzAurum Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.