HIGH-GRADE GOLD DISCOVERY AT MULGABBIE NORTH

OzAurum confirms new shallow high-grade gold zone in Western Australia

OzAurum Resources Ltd (ASX:OZM) has announced a significant high-grade gold discovery at its Mulgabbie North Gold Project in Western Australia. Aircore (AC) drilling has identified multiple shallow high-grade intercepts along the Relief Shear, reinforcing the project’s potential to host a substantial gold deposit.

Key Drill Results

The latest drilling campaign returned several notable intersections, including:

20m @ 3.57 g/t Au from surface, including 4m @ 10.21 g/t Au (MNOAC 722)
10m @ 6.59 g/t Au from 12m, including 4m @ 14.17 g/t Au (MNOAC 705)
4m @ 6.86 g/t Au from surface (MNOAC 750)
4m @ 3.62 g/t Au from 20m (MNOAC 720)
4m @ 3.20 g/t Au from 16m (MNOAC 751)

Additional results include:

49m @ 0.83 g/t Au from surface (MNOAC 721)
20m @ 1.59 g/t Au from 8m, including 4m @ 3.62 g/t Au (MNOAC 720)
4m @ 1.99 g/t Au from 20m (MNOAC 739)

Exploration Progress and Next Steps

The discovery aligns with historical intercepts that were never followed up, indicating the potential for further high-grade mineralisation. A 51-hole AC drilling program has been completed, totalling 2,013 metres, with follow-up reverse circulation (RC) and AC drilling planned to define the full extent of this emerging gold zone.

CEO Commentary

CEO and Managing Director Andrew Pumphrey stated:

This exciting new shallow high-grade gold discovery at Mulgabbie North validates our team’s exploration strategy and underscores the significant potential of this project located in one of Western Australia’s most prospective gold corridors.

The multiple shallow, high-grade intercepts, starting from surface, are particularly promising. We’re especially pleased to have identified this new zone on the Relief Shear, just 1.3km south of previous drilling. This discovery, combined with historical results in the area, strengthens our belief that Mulgabbie North has the potential to host a substantial gold deposit.

What makes this even more compelling is that the target hasn’t seen meaningful follow-up drilling in over 38 years! We’re excited to accelerate our drilling program, including RC drilling and further AC drilling, where we expect to hit more high-grade gold mineralisation. These AC drill results are the best we’ve seen at the Mulgabbie North Project since we commenced exploration—spanning over 51,000 metres of AC drilling across 753 holes.

We will commence an RC drilling program when a rig becomes available, and we’re eager to see the results, particularly given the significant gold mineralisation identified. With its proximity to the 260,000 oz Mulgabbie North Mineral Resource and its location along the highly prospective Relief Shear, this target has strong potential to add inventory to our Mineral Resource.

We are committed to advancing our exploration efforts in 2025 and beyond to deliver meaningful growth for our shareholders.