OzAurum welcomes initial Mulgabbie North gold resource

(via NewsDirect)

OzAurum Resources Ltd (ASX:OZM) CEO Andrew Pumphrey tells Proactive the company has produced an initial mineral resource estimate (MRE) for the Mulgabbie North Gold Project just two years after work began at the West Australian gold camp. The resource contains 11.6 million tonnes of material in the measured, indicated and inferred categories at 0.70 g/t gold for 260,000 ounces at a 0.3 g/t gold cut-off grade.

Pumphrey said: “OzAurum has made excellent progress at the Mulgabbie North Project achieving this significant milestone for the company within the short period of just two years since listing.

“This 260,000-ounce initial MRE with 64% of the contained ounces in the measured and indicated categories provides us with the solid basis to undertake further technical works on the Mulgabbie North heap leach scoping study.

“I would like to take this opportunity to thank all hard-working OZM staff, the geological and mining consultants involved, Geobase database consultants, ALS Laboratories Kalgoorlie, the drillers and staff at Raglan Drilling Kalgoorlie.

“The high standard of work that has been undertaken and maintained on all the various aspects and levels of activities that have been used to estimate this initial MRE gives us great confidence to move forward with this project.”

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