OzAurum boosts total resource to 294,000oz gold with new contribution from Cross Fault
Detailed summary
The initial 34,000oz gold resource lifts the total resource at the Mulgabbie project to 294,000oz for OzAurum Resources. ... Read More The post OzAurum boosts total resource to…
OzAurum's latest estimate adds a second resource to its Mulgabbie North gold project. Pic: Getty Images
Special Report: OzAurum Resources has lifted the gold inventory at its Mulgabbie North project in WA’s Eastern Goldfields to approximately 294,000oz after establishing a maiden resource at the Cross Fault deposit.
OzAurum Resources (ASX:OZM) has defined a maiden 933,000t at 1.14g/t gold for a contained 34,000oz at the Cross Fault deposit, about 135km northeast of Kalgoorlie. This adds roughly 13% in ounces to the Mulgabbie North project.
The estimate, prepared by independent WA consultancy BM Geological Services, drew on 7,235m of aircore, reverse circulation and diamond drilling over the past two years.
Of the new Cross Fault ounces, 2,000oz are classified as indicated and 32,000oz as inferred. The estimate uses a 0.3g/t gold cut-off, with high-level pit optimisation suggesting the potential for open-pit mining to around 100m below surface.
Across Mulgabbie North, the resource now comprises 39,000oz measured, 130,000oz indicated and 125,000oz inferred.
Cross Fault adds another defined resource to the company’s proposed staged heap-leach development pathway. OzAurum will bring the deposit into its Mulgabbie North scoping study, allowing its technical team to assess how the additional gold might fit the broader mining and processing concept.
“OzAurum has made excellent progress at the Cross Fault Project within the Mulgabbie North Project,” CEO and managing director Andrew Pumphrey said.
“This 34,000oz Initial Mineral Resource at Cross Fault will now be included in further technical works as part of the Mulgabbie North heap leach scoping study.”
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