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Mulgabbie Gold Projects

Mulgabbie North Gold Project

Opportunity for multiple deposits in a defined gold corridor

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 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.

In September 2024, a Mulgabbie North Gold Heap Leach 50:50 Profit Share Agreement was signed. The agreement is with Line Hydrogen Pty Ltd and BIM Metals Pty Ltd (together LHBM) to complete the Mulgabbie North Heap Leach Feasibility Study (Study), which will be fully funded by LHBM.

  • OzAurum’s, Mulgabbie North and Patricia Projects strategically located and in the heart of WA Eastern Goldfields 130 km NE of Kalgoorlie.
  • Projects closely neighbour a number of existing mining operations and gold processing plants in the area – historically producing high grade gold mineralisation.
  • Mulgabbie North Project is strategically located 2km directly adjacent Northern Star’s Carosue Dam Gold Mine (~3.5moz) with similar rocks.
  • Mulgabbie North Gold Project measured, indicated and inferred MRE of 11.6 mt @ 0.70 g/t Au for 260,000 oz’s reported at 0.3 g/t Au cut-off¹. With 64% of MRE in the measured and indicated categories, along with metallurgical testwork provides a solid basis for future scoping study.
  • The Heap Leach Study is expected to take up to 12 months and following completion and, if a decision to commence production is made by the parties, LHBM will operate and be responsible for funding the proposed mining and heap leach operation with net cash after operating costs and capital costs to be split 50-50 between OzAurum and LHBM.

 

¹ ASX Announcement 18 July 2023

13 February 2025

New Cross Fault Gold Discovery within the Mulgabbie North Gold Project

  • Consistent High-Grade Gold at New Cross Fault Discovery: 1m samples of the recent AC drilling returns consistent high-grade mineralisation at the newly mapped New Cross Fault target.
  • Multiple High-Grade Intersections Confirm New Zone: Numerous shallow high-grade AC intercepts in 1m drill results from previously reported 4m composite intersections including:
    • 16m @ 3.21 g/t gold (Au) (from 6m) incl 4m @ 10.22 g/t Au – MNOAC 722
    • 9m @ 6.76 g/t Au EOH (from 12m) incl 4m @ 13.54 g/t Au – MNOAC 705
    • 4m @ 4.92 g/t Au (from 20m) – MNOAC 720
    • 8m @ 3.75 g/t Au (from 21m) – MNOAC 739
  • Other significant intersections include:
    • 12m @ 2.78 g/t Au (from 8m) incl 4m @ 4.92 g/t Au – MNOAC 720
    • 9m @ 1.76 g/t Au EOH (from 20m) – MNOAC 710
    • 45m @ 0.84 g/t Au (from 0m) – MNOAC 721
  • High-Grade Gold Extends Along Relief Shear: Results confirm consistent high-grade gold mineralisation at the cross fault area within the Relief Shear corridor, validating the exploration model. Several drillholes ended in significant mineralisation, suggesting further potential at depth.
  • New Cross Fault Discovery Extends Project Potential: The New Cross Fault discovery, 1.3km south of previous drilling, strengthens the overall prospectivity of the Mulgabbie North Gold Project.
  • Historical Significance: Limited historical drilling, including a vertical RAB hole drilled in 1998 by Gutnick Resources, also intersected significant mineralisation.
  • Targeted Drilling Program Underway: An additional 32-hole AC drilling program (987m), drilling to fresh rock and targeting south of the mapped New Cross Fault is complete. Assay results expected next week.
  • New Significant North–South Fault: Identified in the field at cross fault location in costeans.
  • Next Steps – High Priority Drilling Targets Being Defined: Reverse Circulation (RC) and AC drilling is planned to commence when we finalise our targeting and rigs become available

CEO and Managing Director, Andrew Pumphrey, commented:

“We are thrilled with the 1m results confirming the New Cross Fault discovery at our Mulgabbie North Gold Project. The consistent high-grade gold mineralisation we’ve encountered in our recent drilling program underscores the significant potential of this exciting new discovery.

Multiple high-grade intercepts, including grades exceeding 10 g/t, reinforce our geological model and suggest we are potentially onto substantial mineralisation. The fact that these high-grade zones extend along the prospective Relief Shear further strengthens our belief that Mulgabbie North has the potential to host a significant gold deposit.

Beyond the impressive grades, the identification of a new north-south fault structure in the area is very exciting. This feature could be a key control on mineralisation and opens up exciting new exploration avenues. Our drilling program is continuing to expand the known footprint of mineralisation, and with assays pending from another 32-hole aircore drill program, we anticipate further positive news flow in the near future.

The Mulgabbie North Project, with its already existing 260,000 oz resource, is rapidly evolving into a compelling gold opportunity.

We are committed to advancing our exploration efforts in 2025 and beyond working hard to deliver meaningful growth for our shareholders.”

Mulgabbie North Gold Deposit

Mineral Resource Estimate

Mulgabbie North Gold Deposit Mineral Resource Estimate
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.
Mulgabbie North Gold Project

Potential to make a significant gold discovery

  • Part of 3.5 million Oz Carosue Dam Gold Camp
  • 8km strike with multiple deposits with 4km yet to be tested in a defined gold corridor
  • Mineralisation open at depth and along strike

Alluvial Gold Found On-Site at Mulgabbie

MULGABBIE HOTEL

Historical gold production 1898–1940

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

OzAurum | Mulgabbie Hotel Project

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