OzAurum Resources Ltd (ASX: OZM) has reported high-grade gold intersections from its maiden reverse circulation (RC) grade control drilling program at the Mulgabbie North Paleochannel Project in Western Australia.
The first batch of results from 84 holes (3,010m) has confirmed the presence of strong, shallow mineralization, with notable intercepts including 6m @ 4.46 g/t Au from 26m, featuring a high-grade core of 1m @ 17.34 g/t Au.
These findings support the company’s ongoing 18,000m drilling campaign designed to define additional ounces across a 4km interpreted paleochannel trend.
Mineralization remains open along strike, providing substantial upside to the existing 260,000-ounce Mineral Resource.
Managing Director Andrew Pumphrey noted that the shallow nature and favourable geometry of the system could materially impact future development scenarios, drawing parallels to the prolific Kanowna Belle paleochannel.
Geological modelling has confirmed a consistent northwest flow direction, improving targeting confidence as the company seeks to expand its resource base.
With recoveries in similar regional deposits historically exceeding 85%, OzAurum is evaluating the potential for a low-cost, scalable production pathway using heap leach processing.
At the time of reporting, OzAurum Resources’ share price was $0.097.