OzAurum Resources Limited (ASX:OZM) Accelerates Mulgabbie North Development with New RC Drilling Program
RC Drilling Program Commenced
OzAurum Resources Limited has initiated a Reverse Circulation (RC) drilling program at the Cross Fault Gold Discovery within the Mulgabbie North project. The 6-hole, 540m program aims to expand high-grade gold zones at depth and along strike, progressing towards a JORC-compliant resource.
Metallurgical Studies Progress
The company is conducting additional RC drilling at the James and Ben prospects to obtain metallurgical samples. OzAurum has completed 92 percolation column tests at its in-house Coolgardie laboratory, with results currently under review by Kappes Cassiday & Associates. These studies are essential for optimising heap leach recoveries across key project areas.
Permitting and Strategic Agreements
Environmental consultants have been engaged to advance permitting for a proposed heap leach operation on granted Mining Lease M28/240. Additionally, the company expects to execute a Release Deed with Line Hydrogen (Australia) Pty Ltd in the coming week, clearing the path for project advancement and value realisation.
Executive Comments
CEO and Managing Director Andrew Pumphrey commented, “We’re extremely pleased with the strong progress being made across all fronts at Mulgabbie North. The commencement of RC drilling at the Cross Fault Discovery, together with additional metallurgical holes at the James and Ben Prospects, represents another important step toward defining a JORC-compliant resource and advancing our feasibility studies.
Our in-house laboratory at Coolgardie continues to deliver outstanding results, with 92 percolation column tests now completed in just one month. This level of momentum gives us a clear technical foundation to optimise heap leach recoveries and de-risk future operations.
In parallel, we’re advancing permitting with environmental consultants now engaged to accelerate approvals for a potential heap leach operation on granted Mining Lease M28/240.
With Australian gold prices at record highs around A$5,800 per ounce, we are moving rapidly to position OZM for development success. Our focus remains squarely on fast-tracking Mulgabbie North toward production readiness and maximising value for our shareholders.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
