OzAurum finds another 34,000 ounces at Mulgabbie North

Cross Fault adds 34,000 ounces to Mulgabbie North

OzAurum Resources Ltd (ASX:OZM) has added a maiden 34,000-ounce resource at Cross Fault, taking the combined Mineral Resource at its 100%-owned Mulgabbie North Gold Project to approximately 294,000 ounces. The new deposit is estimated at 933,000 tonnes grading 1.14 grams per tonne gold and will now be incorporated into the project’s heap leach scoping study.

The company’s comparison table puts the earlier Mulgabbie North resource at 260,000 ounces, with the 2026 estimate lifting the total to 294,000 ounces. The updated inventory comprises 1.475 million tonnes of Measured material at 0.82 g/t for 39,000 ounces, 5.679 million tonnes of Indicated material at 0.71 g/t for 130,000 ounces, and 5.417 million tonnes of Inferred material at 0.72 g/t for 125,000 ounces. Those classifications describe confidence in the resource estimate, not a declaration of mineable reserves.

A shallow resource near existing processing infrastructure

Cross Fault sits along the 7.5-kilometre Relief Shear, alongside the James, Ben, Alicia and Demag prospects, about 135 kilometres north-east of Kalgoorlie. The project is approximately 3.5 kilometres from Northern Star Resources’ 4.0 million-tonne-a-year Carosue Dam mill, a location that supports OzAurum’s stated low-capex development strategy, although the announcement does not establish any processing agreement with Northern Star.

The estimate was prepared by BM Geological Services using drilling completed over the past two years. OzAurum says 7,235 metres of aircore, reverse-circulation and diamond drilling supported the model, with drilling at close spacing in parts of the deposit and twinned holes showing what it described as strong correlation between drilling methods. Cross Fault covers roughly 400 metres of strike and is reported as being within about 100 metres of surface, giving it an open-pit development concept at this stage.

Heap leach study gains another feed source

Cross Fault will be tested through the Mulgabbie North heap leach scoping study rather than treated as a standalone development decision. OzAurum has already reported encouraging heap leach results elsewhere at Mulgabbie North, including the 95% recovery testwork from paleochannel material, but the company has not yet completed metallurgical testwork specific to Cross Fault.

The announcement points to earlier testwork on composite samples from the nearby James and Ben prospects, which returned average recoveries of 95.85% for oxide material, 88.65% for transition material and 88.30% for fresh material under CIP conditions. Those results are presented as indicative of similar mineralogy along the Relief Shear, rather than as Cross Fault test results. Mining dilution and ore loss have not been applied to the resource estimate, and no external audit or review of the initial estimate has been completed.

Further drilling could expand the deposit

Cross Fault remains open at depth and along strike to the north. OzAurum has identified extensions below holes MNORC251 and MNORC263 as high-priority drilling targets, while its JORC disclosure says further reverse-circulation and diamond drilling is planned.

There is also a technical qualification in the filing’s reporting detail. Different sections refer to reporting limits of roughly 100, 120 and 150 metres below surface, and cite both 280mRL and 230mRL in discussing the cut-off boundary. The headline resource is reported at a 0.3 g/t gold cut-off, but that inconsistency will need to be resolved in later technical work before the project’s economic scale can be assessed with greater precision.