High-Grade Gold Intercepts and Feasibility Control Boost OzAurum’s Development Prospects

Strong Drilling Results at Mulgabbie North

OzAurum Resources Limited (ASX, OZM) has delivered a pivotal quarterly update for its flagship Mulgabbie North Gold Project in Western Australia's Eastern Goldfields. The September 2025 quarter saw the company confirm significant high-grade gold mineralisation at the newly identified Cross Fault zone through a 17-hole reverse circulation drilling program. Notable intercepts include 10 meters at 2.18 grams per tonne gold and 21 meters at 1.22 grams per tonne, with several intervals exceeding 5 grams per tonne, underscoring the zone's robust potential.

These results validate the Cross Fault as a promising new discovery, extending over a 400-meter strike length and remaining open at depth. The presence of broad sulphide zones and gold-bearing quartz veins suggests further upside potential beyond current drilling depths.

Metallurgical Advances and Development Readiness

Complementing the drilling success, metallurgical testwork continues to impress, with percolation rates averaging nearly 60,000 liters per hour per square meter, well above industry benchmarks. This supports OzAurum's strategy to develop a low-cost, scalable heap-leach operation at Mulgabbie North. The company has engaged global heap-leach specialists Kappes, Cassiday & Associates Australia to guide the design and operation of staged heap-leach facilities, with environmental permitting progressing on granted mining leases.

Recent drilling at the James and Ben Prospects aims to extend high-grade mineralisation and provide samples for ongoing metallurgical testing, critical steps toward defining a viable production pathway.

Strategic Control Restored and Broader Exploration

Significantly, OzAurum has executed a Deed of Release with Line Hydrogen, regaining full control over its Feasibility Study. This strategic reset removes previous constraints, allowing the company to advance development on its own timeline and align efforts with shareholder interests. CEO Andrew Pumphrey highlighted this as a key milestone enabling accelerated progress toward near-term gold production.

Beyond Australia, exploration momentum continues in Brazil, where OzAurum is advancing its niobium and rare earth element projects. Soil sampling has identified a compelling niobium anomaly at the Salitre Project, and a ground magnetometer survey using company-owned equipment is imminent. These efforts aim to delineate carbonatite-related mineralisation, a globally significant source of niobium.

Financial Position and Outlook

During the quarter, OzAurum invested $371,000 in exploration activities, maintaining a solid cash position of $1.26 million at quarter-end. With gold prices hovering near record highs around A$6,000 per ounce, the company is well positioned to capitalize on favourable market conditions as it advances toward production readiness.

While some assay results from recent drilling remain pending and permitting timelines carry inherent uncertainties, OzAurum’s strategic moves and technical progress mark a clear step forward in unlocking value from its portfolio.