100%-owned Mulgabbie North Gold Project covers 10km of greenstone belt geology in one of the richest and most prolific gold-producing belts in Australia.
OzAurum is currently exploring 8km of strike along the Relief Shear adjacent to Northern Star’s (ASX: NST) Carosue Dam Mine and the adjoining 3.5 Moz NST Karari and Whirling Dervish gold mines.
Previously underexplored with limited drilling despite significant gold endowment in the belt. Gold mineralisation is open at depth and along strike. Mulgabbie North has all the hallmarks indicating potential for a significant gold discovery.
| JORC 2012 Classification | Tonnes | Grade Au g/t | Ounces |
|---|---|---|---|
| Measured (M) | 1,475,000 | 0.82 | 39,000 |
| Indicated (Ind) | 5,620,000 | 0.71 | 128,000 |
| Inferred (Inf) | 4,543,000 | 0.85 | 93,000 |
| Total M+Ind+Inf | 11,638,000 | 0.70 | 260,000 |
| The Mineral Resources are reported at 0.3 g/t Au cutoff to a depth of 150m below the surface. All numbers are rounded to reflect appropriate levels of confidence. Apparent difference may occur due to rounding. See ASX Announcement dated 18 July 2023 for full JORC and complaince details. | |||
Gold was first discovered at Mulgabbie Hotel in 1898 and the field produced 8,000oz of gold at an astounding 34oz (or a little more than 1kg) to the tonne.
7,777 oz from 227 t Average grade 34 oz/t bonanza grades. Vendor 1990 Underground tribute mining has produced 30 oz at grade 64.8 g/t. 1,000 oz recent alluvial tribute gold production M28/364 Hotel 2011 2013. Dolerite hosted mineralisation and telluride mineralisation.
Significant Intersections include:
RCMC 7 | 19m @ 2.46 g/t Au from surface.
RCMC 3 | 11m @ 2.64 g/t Au from 26m.
RCMC 6 | 13m @ 2.16 g/t Au from 45m
