Momentum continues to search out OzAurum gold in Mulgabbie North
Solely a month after OzAurum made his ASX debut, the junior gold explorer continues to ship excessive grade gold tubes from its Mulgabbie North undertaking in Western Australia.
OzAurum Sources (ASX: OZM), which knowledgeable ASX boards of administrators on February 8 following a closely subscribed IPO, owns two superior gold initiatives, Mulgabbie and Patricia, in a gold province of + 30 million ounces close to Kalgoorlie, Washington.
Final Monday, OzAurum introduced that it had intersected high-grade gold mineralization with its first reverse circulation (RC) drilling on its Mulgabbie North undertaking – steps away from Northern Star Sources’ Carosue Dam mine (ASX: NST ) which has produced 1.5 million ounces of gold up to now.
Particularly, RC drilling supplied distinctive intersections of 4 m at 10.26 grams per tonne (g / t) gold, together with 1 m at 14.6 g / t, from a wider intersection of 10 m at 4.6 g / t from simply 46 m.
Momentum continues for OzAurum with in the present day’s announcement of the invention of a giant new zone of gold mineralization by aircore (AC) drilling undertaken simply 100m west of the present RC drilling marketing campaign. in progress at Mulgabbie Nord.
To this point, the primary 31 holes for 2156 m of AC drilling have revealed a brand new giant gold zone with important outcomes together with 4 m at 6.3 g / t till the tip of gap (EOH) MNOAC 020 intersected at high of the contemporary rock, with Gap AC MNOAC 021, positioned 40 m to the east, additionally chopping 1 m at 1.09 g / t EOH.
Collectively, these two holes embody a 40m vast zone of gold mineralization at EOH atop the contemporary rock.
OzAurum is at present planning an RC drilling marketing campaign on this space to watch these important outcomes whereas wanting ahead to ongoing AC drilling outcomes from the present marketing campaign.
As well as, the AC drill program additionally revealed a 40-80m vast hematite alteration zone, which was intersected on the backside of the AC holes and defines a development putting northwest for roughly 1.2 km – positioned instantly west of the prevailing Mulgabbie North RC gap. .
That is of explicit significance since this alteration of hematite is the primary alteration attribute of the adjoining gold mines of Northern Star Carosue Dam, Karari and Whirling Dervish.
“The corporate is delighted that we got here throughout these top quality aircore interceptions so early in our large-scale drilling marketing campaign,” mentioned CEO Andrew Pumphrey.
“Specifically, we’re excited concerning the potential of this space the place the host rocks are intermediate-felsic volcaniclastic models – similar to the Northern Star Carosue Dam operations, together with the Karari and Whirling Dervish gold mines.
“As well as, a brand new hematite alteration zone 40 to 80 m vast extending over 1.2 km was intersected for the primary time in AC holes and may be very promising as it’s also a key signature of the adjoining Northern Star Carosue Dam operations which produced roughly 1.5 million ounces of gold. ”
The two,156m drilled up to now is simply the beginning of OzAurum’s first 30,000m AC drilling marketing campaign, making up the preliminary 50,000m RC and AC drilling campaigns.
The Mulgabbie undertaking covers 10 km of a greenstone belt in certainly one of Australia’s richest and most prolific gold belts.
The Norseman-Wiluna greenstone belt is house to various main mines, together with Granny Smith (+ 2.5Moz), Wallaby (+ 7Moz), and Dawn Dam (+ 15Moz).
OzAurum’s different superior gold undertaking, the Patricia Venture, is a excessive grade open at depth gold undertaking.
This text was developed in collaboration with OzAurum Sources, a Stockhead advertiser on the time of publication.
This text just isn’t recommendation on monetary merchandise. It’s best to contemplate getting impartial recommendation earlier than making any monetary choices.