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OzAurum Resources Limited (ASX:OZM)

ALERT: Price-sensitive ASX Announcement for OZM
Current share price for OZM : $0.090 0.009 (11.11%)+
Announcement
Release
23 Jun 2026 9:32AM
Price at Release
$0.081
Full Release
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Summary
OzAurum Resources Limited announced the completion of their reverse circulation (RC) grade control drilling at the Mulgabbie North Paleochannel Project, revealing consistent high-grade gold mineralisation across the paleochannel, which spans over a 4km strike length. The final batch of assays confirmed significant gold intercepts, supporting a low-cost open-pit mining model. With the completion of site civil works for the heap leach pad, the project marks a transition from study to construction. The company plans to use these results in their feasibility study and mine planning, understanding the paleochannel as a consistent and high-grade system that continues to show resource growth potential beyond the existing mineral resource estimate of approximately 260,000 ounces.
Key Points
  • Final assay results from fifth batch of 71 RC holes completed.
  • Consistent high-grade gold mineralisation confirmed in paleochannel.
  • High-grade intercepts include 7m @ 8.12 g/t Au and 2m @ 7.17 g/t Au.
  • Mulgabbie North paleochannel represents an ancient river system.
  • Development advancing with site civil works for heap leach pad.
  • Resource potential remains open along a >4km paleochannel trend.
  • Feasibility study and mine planning supported by completed assays.
  • Company aims for low-cost open-pit mining model.
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.