OzAurum Resources (OZM) has seen “outstanding” drilling results from the newly discovered Demag Zone at its Mulgabbie North Project in Western Australia.
The company recently completed a 10-hole reverse circulation program that returned “exceptional” gold results.
Results from the drilling include one metre at 19.60 grams per tonne (g/t) gold and one metre at 18.60 g/t gold, both of which came from hole MNORC 186.
Additionally, the company has also received “significant” results for the second diamond hole with up to 3.32 g/t gold intersected.
“We are excited to report on the significant drilling progress at our Mulgabbie North Gold Project,” CEO and Managing Director Andrew Pumphrey said.
“The RC holes and second diamond hole drilled at the new virgin gold discovery Demag Zone have continued to intersect significant gold mineralisation, further validating the potential of Mulgabbie to be a significant gold discovery.”
Diamond drilling at Demag continues with the fourth diamond hole at a current depth of 74 metres and is planned to be drilled to a depth of 600 metres.
OzAurum is also planning to commence a nine-hole reverse circulation drilling program that is expected to commence next week.
On the market, OZM shares were in the grey to trade at 15 cents at 12:45 pm AEST.
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