OzAurum Confirms Consistent High-Grade Gold at Mulgabbie North

Final Drilling Batch Validates High-Grade Shallow Gold Continuity

OzAurum Resources Ltd (ASX:OZM) has wrapped up its 15,646-metre reverse circulation (RC) grade control drilling program at the Mulgabbie North Paleochannel Project in Western Australia's Eastern Goldfields, delivering a final batch of 71 holes that reinforce a consistent, high-grade gold system at shallow depths. Multiple intercepts exceeding 10 grams per tonne (g/t) gold, including standout hits like 7 metres at 8.12 g/t Au with a 1 metre spike of 49.7 g/t from just 25 metres downhole, confirm the geological repeatability critical for mine planning.

These results mirror previous batches, underlining a coherent paleochannel mineralisation system that supports a straightforward, low-capital open-pit mining approach. The drilling density achieved provides the granularity needed for scheduling and economic modelling, forming a robust foundation for the ongoing feasibility study.

Resource Base and Development Momentum

The mineralisation remains open along an interpreted paleochannel trend stretching over 4 kilometres, highlighting significant potential to grow beyond the existing ~260,000-ounce Mineral Resource. This resource is hosted within a flat-lying ancient river system with a consistent northwest paleo-flow direction and a 30-metre elevation drop, factors that enhance predictability and targeting confidence.

On the development front, OzAurum has commenced civil works for the heap leach pad and agglomeration plant foundations, marking a tangible transition from study to construction. The heap leach pathway is a proven, capital-efficient processing route well suited to paleochannel-style gold deposits, with metallurgical test-work underway to validate ore characteristics. The nearby Kanowna paleochannel operation, which produced roughly 70,000 ounces at recoveries above 85%, offers a compelling analogue for Mulgabbie North's potential.

Geological Confidence and Future Exploration Potential

CEO Andrew Pumphrey emphasised the significance of the completed program: "Every batch of results throughout this campaign has returned the same message: consistent, high-grade gold at shallow depth, right across the paleochannel. That kind of geological repeatability is exactly what you need to build a mine plan."

The company has also identified at least one primary gold source southwest of the current resource, boosting confidence in further resource expansion. While the current drilling program is slightly short of the originally planned 18,000 metres, OzAurum retains flexibility to undertake additional infill drilling where needed before finalising the mine plan.

Alongside the grade control drilling, the feasibility study continues to progress, integrating the full assay dataset to optimize pit design, scheduling, and economic modelling.

Heap Leach Development and Regional Context

The heap leach development strategy is underpinned by promising metallurgical test results reported earlier, including rapid gold recovery rates and low cyanide consumption, which bode well for a cost-effective processing operation. The refurbishment of the heap leach plant infrastructure is advancing, with site works now actively underway.

Importantly, the paleochannel model at Mulgabbie North is not only a standalone opportunity but also a potential gateway to larger primary discoveries, as evidenced by the nearby Kanowna Belle deposit, which was discovered following paleochannel exploration success.

With all these moving parts, OzAurum is positioning Mulgabbie North as a compelling development project that balances near-term production potential with longer-term exploration upside.