OzAurum Resources (ASX:OZM) said that a recent infill reverse circulation drilling program at the paleochannel zone within the Mulgabbie North gold project in Western Australia confirmed substantial high-grade gold mineralization, according to a Tuesday Australian bourse filing.
Significant intercepts from the drilling campaign include five meters at 5.87 grams-per-tonne grade of gold from 22 meters, as well as three meters at 7.25 g/t grade of gold from 27 meters, the filing said.
Two diamond drill holes for 220 meters in total at the Cross fault will be used to determine the structural controls on gold mineralization, while a 66-meter reverse circulation hole drilled at the Golden Goose prospect aims to better define previously reported high-grade gold intercepts.
Line Hydrogen drilled one diamond hole and one reverse circulation hole to facilitate additional metallurgical test work in the proposed trial open pit area.
Its shares fell over 9% on market close.
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