OzAurum Resources Ltd (ASX: OZM), a Western Australian explorer focused on advanced gold projects located 130 km northeast of Kalgoorlie, has announced strong shallow, high-grade gold results from the second batch of reverse circulation (RC) grade control drilling at its Mulgabbie North Gold Project. The company’s objective is to make a significant discovery that can be brought into production. These latest results, released on 11 May 2026, form a crucial part of the ongoing feasibility study, which aims to support mine planning and evaluate potential development scenarios in anticipation of commissioning the Mulgabbie processing plant.
The announcement highlights the continuation of high-grade, near-surface gold within the Mulgabbie North paleochannel system. This second batch encompassed 84 RC holes, totalling 3,024 metres, as part of a larger planned 18,000-metre grade control program. Significant gold intercepts include 5 metres at 5.26 grams per tonne (g/t) gold from 26 metres, including 1 metre at 23.31 g/t gold, and 6 metres at 4.28 g/t gold from 25 metres, including 1 metre at 20.10 g/t gold. These impressive figures are consistent with previously reported bonanza-grade intersections within the system, such as 1 metre at 162 g/t gold.
OzAurum noted that mineralisation remains open along a more than 4-kilometre interpreted paleochannel trend, indicating strong potential to extend the mine life beyond the existing approximately 260,000-ounce Mineral Resource. Andrew Pumphrey, CEO and Managing Director, commented, “These results continue to demonstrate the strong grade profile and near-surface nature of the paleochannel system at Mulgabbie North. This drilling is directly supporting our ongoing feasibility study and is increasing confidence in the early development schedule as we move toward commissioning of the Mulgabbie heap leach plant.”
Mr Pumphrey added that with mineralisation remaining open along a 4km trend, the company sees significant potential to grow the resource base and further enhance potential plant throughput. He stated that this positions Mulgabbie as a scalable operation with potential for strong upside beyond initial development and existing resources. The company’s ongoing exploration success in paleochannel systems aligns with historical trends in the Eastern Goldfields, where such deposits have often led to significant primary gold discoveries.
