OzAurum Reports 48m at 1.66 g/t Gold and 25m at 1.24 g/t in Latest Drilling

Strong Exploration Momentum at Mulgabbie North

OzAurum Resources Limited (ASX – OZM) has delivered a robust quarterly update for June 2025, highlighting significant progress at its Mulgabbie North Gold Project in Western Australia's Eastern Goldfields. The company’s latest reverse circulation (RC), diamond, and air core (AC) drilling campaigns have confirmed and expanded high-grade gold mineralisation, reinforcing the project's potential as a substantial gold resource.

Key among the findings is the Cross Fault Discovery, where a 20-hole RC program confirmed mineralisation extends into fresh rock, with notable intercepts such as 48 metres at 1.66 grams per tonne (g/t) gold including 9 metres at 5.79 g/t. Follow-up diamond drilling further revealed two parallel mineralised zones featuring sheeted vein arrays and breccia-style mineralisation, with visible gold observed in quartz veins. These results underscore the geological complexity and richness of the area.

Extending the Gold Footprint

Complementing the Cross Fault findings, an 82-hole AC drilling program extended the strike length of mineralisation by approximately 600 metres to the south, suggesting a larger interconnected gold system along the Relief Shear corridor. Meanwhile, resource infill RC drilling at the Paleochannel Zone delivered exceptional high-grade results, including 5 metres at 5.87 g/t gold and a standout 1 metre intercept at 16.54 g/t, indicating this zone’s potential to significantly contribute to resource growth.

These drilling successes have not only expanded the known mineralised footprint but also provided critical data to support ongoing geological interpretations and future resource estimation efforts. The company is actively engaging structural geology expertise to refine its understanding of fault controls and mineralisation styles across the project.

Corporate Developments and Strategic Outlook

On the corporate front, OzAurum appointed Ashok Parekh as Non-Executive Chairman in May 2025. Parekh brings over 45 years of mining and resources sector experience, poised to provide seasoned leadership as the company advances its exploration and development agenda. CEO Andrew Pumphrey expressed optimism about the company’s trajectory, citing the strong drilling results and the upcoming feasibility study by Line Hydrogen Pty Ltd, expected in mid-September 2025, as pivotal milestones.

Financially, OzAurum reported cash reserves of $1.9 million as of 30 June 2025, supporting ongoing exploration activities. The company also continues to progress exploration at its Patricia Gold Project in Western Australia and niobium-rare earth element projects in Brazil, where soil sampling has identified promising anomalies warranting future drilling.

Looking Ahead

While no ore reserves have yet been defined, the accumulation of high-grade intercepts and geological insights lays a solid foundation for resource growth and potential development. The upcoming feasibility study will be a critical step in assessing the economic viability of the Mulgabbie North project. Meanwhile, exploration approvals and drilling plans at Patricia and Brazilian projects remain key areas to watch.