Mulgabbie North RC Drilling Advanced Metallurgical Testwork

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Stock Ozaurum Resources Ltd (OZM.ASX)
Release Time 30 Sep 2025, 12:06 p.m.
Price Sensitive Yes
 OZM Accelerates Development at Mulgabbie North with RC Drilling
Key Points
  • RC Drilling Program Underway to Expand High-Grade Gold Zones
  • Drilling for Metallurgical Samples at James and Ben Prospects
  • 92 Column Tests Completed, Advancing Metallurgical Studies
Full Summary

OzAurum Resources Ltd (ASX: OZM) has commenced a Reverse Circulation (RC) drilling program at the Cross Fault Gold Discovery within the Mulgabbie North Gold Project. The program is designed to expand high-grade gold mineralisation at depth and along strike, advancing the company toward a JORC compliant resource. Additionally, RC holes are being drilled at the James and Ben prospects to supply fresh material for ongoing metallurgical testwork, supporting feasibility study inputs and future mine design. OZM has also completed 92 percolation column tests in the past month at its in-house Coolgardie laboratory, including 55 new tests from the James Prospect. The results are being reviewed by Kappes Cassiday & Associates (KCAA), with an update to be released next week. This rapid progress positions OZM to de-risk and optimise heap leach recoveries across key project areas. The company has also engaged specialist environmental consultants to advance key permitting and approvals for a proposed Heap Leach operation on granted Mining lease M28/240, a critical step toward project development. Additionally, OZM is expecting to execute the Release Deed with Line Hydrogen (Australia) Pty Ltd (Administrators Appointed) in the coming week, which will clear a path for project advancement and value realisation. With Australian gold prices at record highs around A$5,800 per ounce, OZM is focused on fast-tracking feasibility studies and development planning to leverage current market conditions and maximise shareholder value.

Outlook

OZM is focused on fast-tracking feasibility studies and development planning at the Mulgabbie North Gold Project to leverage current high gold prices and maximise shareholder value.