OzAurum Unveils New High-Grade Gold Zone at Mulgabbie North

A Fresh Chapter at Mulgabbie North

OzAurum Resources Ltd (ASX:OZM) has delivered an encouraging update from its Mulgabbie North Gold Project, located in the prolific Eastern Goldfields of Western Australia. The company’s recent aircore (AC) drilling program has uncovered a new high-grade gold discovery along the Relief Shear, a key structural corridor known for hosting significant mineralisation.

This newly identified zone lies approximately 1.3 kilometres south of previous drilling activities, marking a strategic extension of the project’s footprint. The shallow nature of the intercepts, some starting from surface, adds to the prospectivity, potentially easing future extraction efforts.

Drilling Highlights and Historical Context

The 51-hole AC program, covering 2,013 metres, returned several standout results. Notably, hole MNOAC 722 intersected 20 metres at 3.57 grams per tonne (g/t) gold, including a 4-metre segment grading 10.21 g/t. Another highlight, MNOAC 705, yielded 10 metres at 6.59 g/t, with a 4-metre interval hitting 14.17 g/t. These grades are among the best recorded at Mulgabbie North since exploration began.

What makes this discovery particularly compelling is its alignment with historical drilling data that had not been followed up for nearly four decades. Limited reverse circulation (RC) drilling from the late 1980s and a vertical RAB hole drilled in 1998 by Gutnick Resources also intersected significant mineralisation, underscoring the area’s untapped potential.

Geological Setting and Mineral Resource Implications

The new gold zone is hosted within a cross fault on the Relief Shear, a major trans-lithospheric structure that controls mineralisation at Mulgabbie North. The host lithology mirrors that of the existing 260,000-ounce Mineral Resource, which is reported at 11.6 million tonnes grading 0.70 g/t gold at a 0.3 g/t cut-off.

OzAurum’s CEO and Managing Director, Andrew Pumphrey, emphasized the significance of the discovery, noting that the results validate the company’s exploration strategy and highlight the project’s potential to grow its resource inventory. The shallow, high-grade nature of the intercepts, combined with the structural setting, suggests a robust target for further drilling.

Next Steps and Market Outlook

With the AC drilling phase complete, OzAurum plans to initiate a follow-up RC drilling program as soon as rigs become available. This next phase aims to test the full extent of the mineralised zone both along strike and at depth, where oxidised pyrite and arsenopyrite mineralisation observed in drill chips indicate promising continuity.

The discovery arrives at a time when the gold sector remains sensitive to new resource additions, especially in established mining corridors like the Eastern Goldfields. Investors will be watching closely as OzAurum advances its exploration efforts, potentially unlocking further value from Mulgabbie North.