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Ozz Resources Ltd ( (AU:OZZ) ) has issued an announcement.
Ozz Resources has completed a mining lease application over its Old Prospect gold tenements in Western Australia and secured shareholder approval to sell 100% of this area to Scorpion Minerals, which holds an exclusive option over the ground. Old Prospect North and South host a JORC 2012 mineral resource of 312,400 tonnes at 2.15 grams per tonne gold for 21,600 ounces, mostly in the indicated category, with mineralisation remaining open along strike and at depth.
Scorpion plans an intensive infill and extensional drilling program, mining studies and exploration target definition at Old Prospect, feeding into an updated resource estimate and scoping study later in 2026. The project is being integrated into Scorpion’s broader Pharos Gold Project, supported by regional geophysics, mapping and a strategic MOU with Gylden Resources, whose Kirkalocka processing plant could provide a future treatment route and enhance development options in the Murchison gold belt.
More about Ozz Resources Ltd
Ozz Resources Ltd is an Australian gold exploration and development company with tenements in Western Australia, focused on advancing projects within the Murchison region. Its activities centre on defining JORC-compliant resources and progressing prospects such as Old Prospect through drilling, studies and potential mine development, often via strategic partnerships and asset transactions.
Technical Sentiment Signal: Sell
For detailed information about OZZ stock, go to TipRanks’ Stock Analysis page.