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OzAurum Resources Ltd. ( (AU:OZM) ) has provided an update.
OzAurum Resources has launched an 18,000-metre reverse circulation grade control drilling campaign at the Paleochannel prospect within the Stage 2 pit designs at its Mulgabbie North Gold Project in Western Australia. The program underpins the ongoing heap leach feasibility work and aims to refine open pit optimisation by improving confidence in shallow, high-grade paleochannel gold mineralisation.
The drilling, supported by a recent $4.1 million strategic placement to Forrestania Resources and a share-based drilling contract with VM Drilling, could confirm a stand-alone mining opportunity and optional early cash flow streams. Together with heap leach plant refurbishment, the initiative strengthens OzAurum’s push toward low-cost, near-term gold production in a favourable price environment and enhances its development flexibility in the Kalgoorlie gold district.
The most recent analyst rating on (AU:OZM) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on OzAurum Resources Ltd. stock, see the AU:OZM Stock Forecast page.
More about OzAurum Resources Ltd.
OzAurum Resources Ltd is an Australian gold exploration and development company focused on advancing its Mulgabbie North Gold Project in the Kalgoorlie region of Western Australia. The company is pursuing a capital-light pathway to near-term gold production, including the refurbishment of a heap leach plant and open pit development targeting shallow, high-grade mineralisation.
Average Trading Volume: 1,559,639
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$28.61M
Find detailed analytics on OZM stock on TipRanks’ Stock Analysis page.