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DIGGERS & DEALERS PREVIEW REFINING THE GOLD STANDARD abcrefinery.com

Location

leverage at

OzAurum and to get up and running so quickly. It’s all about relationships
Drilling at Patricia was under way at the time of print

and it’s all fostered from being based in Kalgoorlie.”
by Michael Washbourne OzAurum started drilling at Mulgabbie North, only 2km from
Carosue Dam, within days of hitting the bourse. The company
went to the public market with a stated ambition of completing
aving personally held the ground which sits in the shadows at least 30,000m of aircore and 20,000m of RC drilling in its first
Hof Northern Star Resources Ltd’s Carosue Dam operations year.
for the best part of 30 years, Andrew Pumphrey knew exactly Within four months of debuting on the ASX, the company had
what was going to work best if those prized tenements formed reached its aircore target and has since revised its plans for
the basis of a new IPO. a further 15,000m of shallow holes. More than 6,000m of RC
A contract geologist, Pumphrey pegged what would become the holes had also been completed at the time of print.
Mulgabbie North project before Carosue Dam was discovered Despite the significant backlog in assay results coming back
by Aberfoyle Resources in 1997. He also picked up the Patricia from the labs, Pumphrey is buoyed by the intercepts which have
project some 40km to the north-east. been reported to date, including aircore hits of 1m @ 162.5 g/t
Those two projects are now the backbone of Kalgoorlie-based gold from 27m, 4m @ 10.2 g/t from 24m and 4m @ 5.02 g/t
OzAurum Resources Ltd which listed on the ASX in early from 24m.
February following an oversubscribed IPO which raked in $12 Some of the best RC intersections include 20m @ 1.91 g/t gold
million. within 46m @ 1.04 g/t from 73m, 9m @ 1.64 g/t within 52m @
Pumphrey made the decision to pursue an IPO after being 0.73 g/t from 102m and 7m @ 1.48 g/t (including 1m @ 7.37 g/t)
introduced to seasoned mining executive Martin Holland by a from 36m.
mutual friend. There was no disputing the timing was right to “We’re seeing some nice high-grade mineralisation associated
bring an advanced gold exploration story to market, but the with paleochannel mineralisation, which is something we
OzAurum managing director was insistent about a couple of haven’t given a lot of attention to, but moving forward we will
things he felt were key to the future success of the business. be looking at that style of mineralisation more,” Pumphrey said.
“I was adamant our registered office would be in Kalgoorlie and “We’ve seen a lot of holes that are coming into sericite alteration,
all our funds would go into exploration, and that’s exactly what along with pyrite mineralisation and in some cases arsenopyrite
we’re doing,” Pumphrey told GMJ. mineralisation. That is key, as well as this hematite alteration
“We know how to do business out here, I’ve got long-term system that we’ve delineated for 2.5km. Hematite is one of the
relationships with drilling contractors, I know the Native Title signature alteration assemblages seen at Carosue Dam.
claimants really well, we’ve worked with a lot of suppliers “It’s early days for us still, but the fact we have very similar rocks
servicing the region, so we know how to do work out here. and we’re getting some excellent grades from the aircore, I’m
“It’s really what enabled us to get access to drill rigs very easily really excited about the potential of that drilling to generate a lot
of future targets for us.”
A maiden RC drilling programme at the historic Patricia mine
was due to kick off at the time of print and will target high-grade
mineralisation. Some 5,383oz with an average grade of 41 g/t
gold was produced from open pit and underground sources
during the mid-1980s.
Historical intersections at Patricia include 5m @ 18.8 g/t gold
from 35m, including 1m @ 80 g/t.
Pumphrey said the key difference between OzAurum and other
explorers in the region was that the company’s projects were
more advanced and on granted mining leases.

OzAurum’s Mulgabbie North is just 2km from Carosue Dam

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