OzAurum heralds high-grade gold at Heysen’s Find

Rock chips up to 16.23g/t deliver OzAurum discovery at Heysen’s Find
Results point toward the presence of mineralisation at untested depths
Location near a major fault adds further prospectivity

Special Report: OzAurum has claimed a fresh discovery of high-grade gold near the old Patricia open pit mine north-east of Kalgoorlie.

Rock chip samples from the newly discovered Heysen’s Find prospect came in at up to 16.23 grams per tonne gold. It’s given OzAurum Resources (ASX:OZM) confidence as it assess plans to chase high-grade mineralisation at depth at the fully owned project.

Multiple high-grade rock samples, coming from a shear-hosted quartz vein stockwork zone over 250m in strike, showed gossan boxwork textures which point toward the presence of pyrite mineralisation at depth beneath fresh rock.

OzAurum CEO and managing director Andrew Pumphrey said the discovery has presented an exciting reverse circulation drill target.

“Our new interpretation shows the Patricia shear extends gold mineralisation 7.5km south from the Patricia Gold Mine to Heysen’s Find,” Pumphrey said.

“The Heysen’s Find prospect sits adjacent to the regional-scale Hootanui Fault – 500km structure with significant gold deposits and mines along its length, including the Lake Rebecca Gold Project and the Granny Smith Gold Mine.

“We are planning heritage and archaeological surveys for early next year and will submit a Section 18 application to explore on E31/1186. This is an exciting exploration opportunity for OZM shareholders.”

Samples include:

PRC 0012 16.23g/t Au
PRC 0019 10.33g/t Au
PRC 0014 6.20g/t Au
PRC 0011 3.65g/t Au
PRC 0008 2.47g/t Au
PRC 0010 2.33g/t Au
PRC 0025 2.25g/t; and
PRC 0009 1.42g/t Au.

Setting the scene

OZM believes the outcropping dolerite on the western and eastern contacts of the shear zone indicate a favourable geological setting for gold mineralisation, and that the new prospect’s closeness to the Hootanui Fault only adds further prospectivity.

The ground remains relatively untouched despite the location and granted mining lease.

Earlier work in 2010 by Legacy Iron Ore (ASX:LCY) intersected significant mineralisation in the oxide profile, including to end of hole, but has yet to be followed up by a deeper campaign.

There were also ten historical drill collars found at the Heysen’s Find prospect, but the majority failed to test the quartz stockwork zone and there are no available assays.

But OzAurum is now looking to bring in its own data on the prospect and will undertake geological mapping and more sampling across its new prospect and the greater and newly named Patricia shear ahead of a planned RC campaign.

The company has greater regional ambitions, and is also looking to commercialise the 260,000 ounces of gold at its nearby Mulgabbie North project with an ounce of gold now trading beyond US$2700 a pop.