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OzAurum Resources Limited (ASX:OZM)

ALERT: Price-sensitive ASX Announcement for OZM
Current share price for OZM : $0.089 0.013 (17.11%)+
Announcement
Release
11 Jun 2026 9:35AM
Price at Release
$0.076
Full Release
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Summary
OzAurum Resources Limited announced strong near-surface, high-grade gold results from their reverse circulation drilling at the Mulgabbie North Paleochannel Project in Western Australia’s Eastern Goldfields. These results are crucial for the company's heap leach development strategy, which is low-capital and efficient. The drilling results have confirmed consistently high gold grades at shallow depths, suitable for open-pit mining, thus supporting a cost-effective extraction model. The ongoing drilling program aims to enhance understanding of the mineral resource, consisting of 84 new RC holes that cover 3,024 meters as part of a larger plan spanning 18,000 meters. The resource potential remains significant with mineralization open along a 4 km strike length, promising substantial growth beyond the existing 260,000 ounces mineral resource. Civil works for site development are underway, and the feasibility study is being supported by these results. The project has marked a critical step towards moving from study phases to actual construction of the processing facilities.
Key Points
  • High-grade gold results at Mulgabbie North Paleochannel.
  • Supports low-cost heap leach development pathway.
  • 84 new RC holes completed as part of 18,000m drilling program.
  • Resource upside remains substantial with over 4km of potential mineralization.
  • Site civil works have commenced for heap leach pad and plant.
  • Feasibility study supported by current drilling results.
  • Potential for open-pit mining reinforced by shallow depth gold findings.
  • Mulgabbie North project mineral resource estimated at approximately 260,000 ounces.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.