OzAurum Resources Limited Spectacular Aeronautical Success in High Quality Gold
Perth, Australia – OzAurum Resources Ltd is pleased to announce additional Aircore drilling results from 75 holes for 5,447 meters of drilling at its Mulgabbie North project located two kilometers from the Northern Star Resources Carosue dam operations. Highlights – AC holes that intersected significant gold mineralization from 1m samples of previously released holes include: o 1m @ 162.5gt gold from 27m -…
– AC holes that intersected significant gold mineralization from 1m samples of previously released drill holes include:
o 1m @ 162.5 g / t gold (Au) from 27m – MNOAC 120
o 1m @ 31 g / t Au from 34m – MNOAC 130
o 1m @ 15.35 g / t Au from 48m – MNOAC 020
– AC holes that have intersected significant gold mineralization from 4m composite samples include:
o 4m @ 10.2 g / t Au from 24m – MNOAC 144
o 4m @ 2.15 g / t from 20m – MNOAC 144
o 4m @ 1.49 g / t from 32m – MNOAC 134
Mulgabbie North AC Drill Results
The 75 AC holes drilled for 5,447m are part of OzAurum’s initial 30,000m AC drilling campaign which began in February of this year and was completed with a total of 434 holes drilled for 30,992m. Results are currently pending for 229 aircore holes. The aerodynamic drilling program has now been extended by 15,000m to undertake infill drilling at Mulgabbie North and complete the first 4 wide-spaced lines in the south zone of E28 / 2477 at Mulgabbie (see Figure 1 *).
A significant new zone, 1 km long and up to 150 m wide, of extensive gold mineralization was intersected by AC drilling located along and to the west of the relief shear at Mulgabbie North.
One meter gold results have been received for previously published AC holes MNOAC 009-130 (see OZM ASX releases March 15, 2021 and March 29, 2021). Significant one-meter intersections include; 1m @ 162.5 g / t Au from 27m (MNOAC120), 1m @ 31 g / t Au from 34m (MNOAC130) and 1m @ 15.35 g / t Au from 48m (MNOAC 020). A number of 1 m samples have results greater than 1 g / t Au, please see Table 3 *.
Significant results from new 4 m AC composite drill holes from MNOAC 131-205 holes include 4 m @ 10.2 g / t Au from 24 m, 4 m @ 2.15 g / t Au from 20 m (MNOAC 144) as well as 4 m @ 1.49 g / t Au from 32 m (MNOAC134) all located to the west of the relief shear. Many other anomalous gold results can be found in Table 2 * of this release. The results have provided the company with exciting new targets that will be followed by future RC drilling.
The current interpretation is that the high grade gold mineralization intersected in hole MNOAC 120 (27-28 m) is paleochannel tertiary gold mineralization. Future work will involve the continued interpretation of the base of this highly mineralized paleochannel position specifically locating the center of the base of the mineralized channel facies. This new style of mineralization will be specifically targeted via future AC vertical holes. An approx. A 1 kg sample from this high grade interval of MNOAC 120 (27-28 m) was analyzed using a panning dish for the presence of visible gold and resulted in the observation of a long tail of fine gold – see photograph 1 *.
Another exciting aspect of the completed AC drilling program at Mulgabbie North is the number of core holes drilled in the northern project area that intersected sericite, + – alteration of hematite with associated pyrite and, in in some cases arsenopyrite + pyrite mineralization at the end of the hole. to taste. Gold mineralization at Mulgabbie North is generally associated with pyrite and / or arsenopyrite mineralization. The assay results for these holes are still pending and we look forward to the results of these aircore holes.
The widespread gold mineralization in this new 1 km long zone is currently open to the north. In addition, the new gold zone is co-incident with OZM gold auger calcrete geochemical anomalies and a gravity trough similar to the richness corridor of the Northern Star Carouse Dam in which their operating gold mines are located, including including production of approximately 1.5 million ounces. nowadays.
Another important aspect of this drilling program is a 40-80m wide hematite alteration zone intersected at the bottom of the AC holes (as announced on March 15, 2021) now setting a striking NW trend for approximately 2.5 km and located 150 m west of the relief shear. Hematite weathering is the characteristic weathering of the adjacent Northern Star’s Karari and Whirling Dervish gold mines. The observed hematite alteration indicates oxidized fluids from an intrusive complex, suggesting proximity to the center of mineralization – likely within the 100% Mulgabbie North-owned OzAurum perimeter.
Aircore drilling is currently underway on the south zone of E28 / 2477 where holes are being drilled at a spacing of 1 km x 80 m. This zone is the interpreted position of the southern extension of the Relief Shear. Cover transported up to 40 m thick prevented effective exploration of this area. There is no historic drilling in this area. The first visual signs of hole chip bottom are encouraging with sericite altered volcaniclastic rocks intersected with pyrite mineralization. This drilling is expected to last up to a month. Please refer to Figure 1 for the location of this area.
The AC Mulgabbie North infill drilling program will be undertaken on a 100 mx 40 m drill spacing extending existing drill lines to the west. The MNOAC 115, which intersected 3 m @ 2.28 g / t from 71 m, is of particular interest in this area and a number of other holes that intersected anomalous gold mineralization. All holes are drilled to the top of the fresh rock using the AC blade drill to the refusal, and using the air hammer if necessary. This is an essential drilling technique for discovering gold mineralization in fresh rock. Historic Freeport RAB holes drilled in 1984-1988 in the same area failed to top fresh rock in the very prospective intermediate-felsic lithology due to transported cover and shallow water table.
OzAurum CEO Andrew Pumphrey said:
“The company is excited about the continuation of high quality AC interceptions from our large-scale drilling campaign. This is an extensive new zone of gold mineralization located west of the Relief Shear, which gives even greater confidence to the project. In particular, we are excited about the potential of this area where the host rocks are intermediate-felsic volcaniclastic units – very similar to the Northern Star Carosue Dam Karari and Whirling Dervish gold mines. In addition, a new 40-80m wide hematite alteration zone spanning 2.5km intersected for the first time in AC holes is very promising as it is a key signature of the mines of ‘adjacent gold Northern Star Carosue Dam Karari and Whirling Dervish. has so far produced around 1.5 million ounces of gold. Finally, this area is under transported cover, which prevented previous effective exploration and now represents a significant exploration opportunity for the Company.
Over the next several months, as drilling results become available, the Company will provide the market with regular updates. Laboratory results currently take up to 8 weeks from the date of delivery, which delays the time to market of the results.
* To view tables and figures, please visit:
About OzAurum Resources Limited:
OzAurum Resources Ltd (ASX: OZM) is a Western Australian gold explorer with two advanced gold projects located 130 km northeast of Kalgoorlie. The main objective of the company is to make a significant gold discovery that can be put into production.
OzAurum Resources Limited
Managing Director and CEO
Mob + 61-419-965-976
Office + 61-8-9093-0039