Ozaurum Confirms Consistent High-Grade Gold Across Mulgabbie North Project
Get your Free Report on Top 5 ASX stocks for 2025
Ozaurum Resources Limited (ASX: OZM), on 23 June 2026, announced the final assay results from its grade control drilling program at the Mulgabbie North Paleochannel Project in Western Australia which further confirmed the consistency of high-grade gold mineralisation across the deposit.
Several shallow gold intercepts returned strong results including 7 metres at 8.12g/t gold with a standout 1 metre section grading 49.70g/t gold which supports the potential for a low-cost open-pit mining operation.
The final phase of the 15,646-metre feasibility and grade control drilling campaign was completed through 71 new reverse circulation drill holes which supplied important information for mine planning and economic assessments.
The latest assays match the trend observed throughout the broader program with high-grade gold encountered repeatedly across the paleochannel system while the company's market capitalisation is $24.32 million at the time of writing.
A key takeaway is that mineralisation remains open across more than four kilometres of interpreted paleochannel strike which has pointed to meaningful resource expansion potential beyond the current 260,000-ounce gold resource.
The company has a belief that heap leach processing route could offer a capital-efficient path to production because nearby historical operations achieved strong recovery rates from similar deposits.
The geological model has improved with the identification of a coherent mineralised system and at least one potential primary gold source that may support future discoveries.
Management described the completion of the drilling program as a genuine milestone because the results provide confidence to advance mine planning and feasibility activities.
(Source: Company Announcements)
Disclaimer
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether itβs appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.
Feature News
Checkout Our Recommendation for free - 7 days free trial
Start Free TrialRecent News
Alligator Nears Completion of NT Asset Sale
Mandrake Signs Drilling Contract, to Advance Drill..
Terra Critical Minerals Announce the Identificatio..
Electro Optic Systems Holdings Positions as an Ide..
Strickland Metals continues to demonstrate the exc..