• RC drilling at Cross Fault delivers gold intercepts across 400m strike
• Multiple zones identified, with mineralisation open at depth
• Follow-up drilling being planned with a resource in the works

 

Special report: Results from ongoing RC drilling at OzAurum’s Mulgabbie North project has confirmed multiple zones of gold mineralisation in fresh rock over a 400m strike, enhancing the scale at the emerging Cross Fault discovery.

Around 17 holes for 1858m were carried out at the Cross Fault zone with high-grade intercepts now returned over a 400m strike.

The aims of the program are to confirm earlier drilling results and test for gold mineralisation.

Wide zones of pyrite and arsenopyrite mineralisation were observed in RC drill chips from multiple RC drill holes indicating gold potential at depth.

Standout results include 10m at 2.18g/t gold from 85m, including 2m at 6.09g/t from 85m and 2m at 3.12g/t from 93m, as well as 21m at 1.22g/t from 33m, including 1m at 5.45g/t from 43m and 1m at 11.41g/t from 53m.

An additional hole, MNORC 275, drilled at Golden Goose intersected 10m at 0.18 g/t Au from 15m and even though significant mineralisation wasn’t intersected at depth, OzAurum (ASX:OZM) believes the target is prospective for further testing.

 

Drilling for a resource now in the works

OZM CEO and managing director Andrew Pumphrey said the RC drilling results from the Cross Fault discovery were highly encouraging, confirming the presence of significant high-grade gold mineralisation in fresh rock across a growing strike length.

“Importantly, the mineralisation style we’re seeing – brittle sandstone-hosted with strong sulphide and quartz veining – is analogous to major deposits at Carosue Dam just 2km away,” he said.

“With mineralisation open at depth and along strike, we’re now planning follow-up drilling aimed at delivering a maiden resource at Cross Fault.

“In parallel, we’re excited to progress drilling at Heysen’s Find, where high-grade rock chip samples have pointed to another promising gold target within our tenement.”

 

Cross Fault building momentum

OZM has been building momentum at the project since unveiling a high-grade gold hit of 20m at 3.57g/t from surface in February.

That news triggered a fivefold share surge, re-rating the company from below $5m to its current ~$18m valuation.

Gold prices at ~$5,000/oz in Australia are fuelling major tailwinds for OzAurum, strengthening its cash position, enabling exploration and drilling, and enhancing project value.

 

 

This article was developed in collaboration 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.