OzAurum Confirms High-Grade Gold at New Cross Fault Discovery

OzAurum Resources (ASX: OZM) has returned results from its reverse circulation drilling program at the New Cross Fault Gold Discovery within the Mulgabbie North Gold Project. The results confirm a high-grade gold mineralization zone extending over a substantial 400-meter strike length, reinforcing the project’s strong potential.

Key Drilling Highlights Include:

• 48m @ 1.66 g/t gold (Au) from surface, including 9m @ 5.79 g/t Au from 12m

• 12m @ 4.26 g/t Au from 18m, including 2m @ 22.58 g/t Au

• 17m @ 1.65 g/t Au from 45m, within 39m @ 1.09 g/t Au, and

• 14m @ 2.37 g/t Au from 28m (MNORC 227)

  
  

The program, consisting of 20 RC holes totalling 1714 meters, has successfully verified and expanded upon earlier air-core results, extending high-grade mineralization into fresh rock.

Expanding the Mulgabbie North Potential

Situated 1.3 km south of the existing 260,000-ounce Mulgabbie North Gold Project, the new Cross Fault Discovery significantly enhances OzAurum’s exploration strategy. The mineralization is closely associated with extensive sulphides, reinforcing the potential for a large-scale gold system.

"The results from our RC drilling at the Cross Fault are truly exceptional, confirming a significant new high-grade gold discovery at Mulgabbie North," said CEO and Managing Director Andrew Pumphrey. "Intercepts like 48 metres at 1.66 grams per tonne, including 9 metres at nearly 6 grams per tonne from surface, demonstrate the robust nature of this find. We're particularly encouraged by the extension of the mineralisation into fresh rock and the widespread presence of sulphides, both of which point to the potential for a substantial gold system."

Ongoing and Upcoming Exploration

Further exploration is underway, with seven additional RC holes for a total of 745m completed and results pending. A diamond drilling campaign is set to commence next week, targeting deeper mineralization to enhance geological understanding and resource potential.

The geological setting of the Cross Fault area is promising, with north-south striking faults known to be associated with major gold deposits in the Eastern Goldfields of Western Australia. Extensive quartz veining, brittle deformation textures, and sulphide mineralization indicate strong structural controls on gold emplacement.

Next Steps

OzAurum expects to release the additional RC assay results soon, despite slower than usual lab turnaround times, and diamond drilling is slated to commence next week. As of the December quarterly report, OzAurum reported $1.22 million in cash, but also boosted working capital by conducting a share placement on the 3rd of March to raise an additional $1.75M at 6 cents per share.