Paleochannel Final Assays Confirm Consistent High-Grade Gold

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Stock Ozaurum Resources Ltd (OZM.ASX)
Release Time 23 Jun 2026, 9:32 a.m.
Price Sensitive Yes
 OzAurum Resources Completes Grade Control Drilling at Mulgabbie North
Key Points
  • Consistent high-grade gold confirmed across the paleochannel
  • 71 new RC holes complete the 15,646m feasibility, grade control program
  • Significant resource growth potential beyond existing ~260,000oz Mineral Resource
  • Development advancing with civil works for heap leach pad and agglomeration plant
  • Standout gold intercepts include 7m @ 8.12g/t Au and 1m @ 49.70g/t Au
Full Summary

OzAurum Resources Ltd has completed the final batch of reverse circulation (RC) grade control drilling at its Mulgabbie North Paleochannel Project in Western Australia. The results are consistent with all previous batches, confirming the high-grade nature of gold mineralization across the paleochannel. The program-wide high grades at shallow depth support a simple, low-cost open-pit mining model. The final batch of 71 new RC holes (2,556m) completes the 15,646m feasibility, grade control program, delivering the drilling density needed for mine scheduling and economic modeling. Mineralization remains open along a >4km interpreted paleochannel trend, highlighting significant resource growth potential beyond the existing ~260,000oz Mineral Resource. Development is advancing with site civil works for the heap leach pad and agglomeration plant foundations having commenced.

Outlook

OzAurum Resources Ltd expects to incorporate the complete assay dataset into mine planning, pit design, and the ongoing feasibility study. The company remains optimistic about the potential for resource expansion and the development of a mining operation at Mulgabbie North.