OZZ RESOURCES EYES ECONOMIC VIABILITY OF OLD PROSPECT

Scoping Study for Maguires Reward and Pinnacle Well Projects

OZZ Resources (ASX:OZZ) , known for its commitment to rapid exploration, development, or sale of economic resources, is actively enhancing its portfolio. The company’s corporate strategy is focused on adapting to market conditions and maximizing shareholder value. In line with this strategy, OZZ Resources has identified two key projects for further development:

  1. Maguires Reward Project: This project, located in the Central Murchison area about 50km northwest of Cue, spans 200Ha under a single prospecting license (P20/2318). Within this project, three mineralized areas have been identified: Old Prospect North, Old Prospect South, and Maguires Reward.
  2. Pinnacle Well Project: Details of this project were not specified in the provided information.

The company is particularly excited about the potential of the Old Prospect North and South areas. A Mineral Resource Estimate conducted on 19 November 2021, based on an initial 4,300m RC drilling program, indicated significant gold deposits. The estimate for Old Prospect North and South stands at 312 kt @ 2.15 g/t, totaling 22 koz of contained gold.

OZZ Resources is now moving forward with a scoping study to assess the economic viability and potential of these mineral resources. This study is a crucial step in determining the best path forward for these projects, whether that involves further exploration, development, or potential sale.

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