Mulgabbie Gold Projects

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