OzAurum Resources (ASX:OZM) has announced high-grade gold results from its recent reverse circulation drilling program at the Paleochannel Zone within the Mulgabbie North Gold Project.
The 19-hole, 684-meter drilling campaign confirmed substantial gold mineralisation, with intersections including 5m at 5.87 g/t gold, including 1m at 16.54 g/t, and 3m at 7.25 g/t gold, including 1m at 10.04 g/t.
This confirms the potential of the Paleochannel system, which extends over 4km, suggesting opportunities for resource upgrades.
Assay results are pending for seven more reverse circulation holes drilled at the Cross Fault, while diamond drilling is underway to better understand the structural controls on gold mineralisation at this site.
The company is also targeting high-grade gold zones at the Golden Goose Prospect and conducting metallurgical test work in the proposed trial open pit area.
CEO Andrew Pumphrey said that the results will bolster the ongoing Mulgabbie heap leach feasibility study and position Mulgabbie North as a key asset for OzAurum's growth.
The Paleochannel Zone's 4km length and historical mining success further enhance its potential for resource expansion.