OzAurum Resources Limited: Patricia Gold Project - Visible Gold Intersected

Perth, Australia - OzAurum Resources Ltd. (ASX:OZM) is pleased to announce that a Maiden twenty-eight hole Reverse Circulation (RC) program has commenced at the Patricia Gold Project with twenty four drill holes completed so far for 4,203m of drilling. The Patricia Gold Project is situated North East of Kalgoorlie.

Patricia RC Drilling Program

Visible gold has been intersected in two adjacent RC drill holes PTORC 022 and PTORC 024.

Visible gold in drill chips from PTORC 022 154-155 was first identified by OzAurum exploration geologist Hugo Serra whilst relogging RC drill chips.

Random drill chips were selected for Petrographic analysis from PTORC 022 (154-155m) and PTORC 024 (156-157) and in both samples free visible gold was observed - see photomicrographs 1 + 2 below*. Associated with the free gold is electrum (gold silver alloy) pyrite and chalcopyrite.

A 2.5 kg sample of drill cuttings from PTORC 022 (154-155m) and PTORC 024 (156-157) were also panned off to confirm the presence of visible gold and with both intervals a significant tail of fine gold was observed - see photographs 1 + 2*.

Drilling in very restricted areas around parts of the Patricia open pit has resulted in a planned RC drill pattern with hole spacing of 20m along the side of the pit. In some locations, a second hole was drilled 10m further from the pit, with the closest hole to pit crest at a -55deg dip and the second hole at a -62deg dip, allowing up to 60m separation between hole traces downhole at the planned target pierce point. The hole collars PTORC 022 and PTORC 024 are 40m apart but due to a change in azimuth direction drill traces will intersect downhole intervals with visible gold approximately 18m apart. The change in drill hole azimuth is required to remain perpendicular to the mineralisation.

Initial observations and the early interpretation of RC drill logging is demonstrating Patricia is a structurally complex project, potentially with late stage faulting that is offsetting lithologies and potential gold mineralisation. Planned diamond drilling will provide structural data to help to resolve this.

This twenty eight hole RC drilling program at Patricia is the first in over 30 years. We eagerly await drilling results from these first twenty four RC drill holes. The aim of this initial drilling program is to target high grade gold mineralisation immediately beneath the existing Patricia open pit. Unfortunately, two of twenty four RC holes drilled were abandoned due to ground conditions with the drill target not being reached in both these holes.

The RC rig is operating on a 3 week on 3 week off basis due to the slow sample turnaround currently being experienced at the sample laboratory now out to up to 10 weeks.

A significant amount time has been spent on the geological interpretation and 3D geological modelling of the Patricia high grade gold mineralisation, lithologies and potential controls to high grade gold mineralisation to date. Historical underground mine shafts, stopes and drives have also been modelled in 3D. This first drilling campaign will help us validate current modelling and the learnings from this drilling will also be used to update our current 3D models.

A Diamond drilling program has also been planned at Patricia and that will commence once the diamond drill rig can be mobilised to site in the coming months.

Patricia RC drilling has involved using a modern high pressure RC drilling rig with samples being drilled dry that are of a consistent sample weight. This high standard of drilling and sampling gives us confidence for a potential future JORC compliant resource to be estimated at Patricia.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/747O6F6R

About OzAurum Resources Limited:

OzAurum Resources Ltd. (ASX:OZM) is a Western Australian gold explorer with two advanced gold projects located 130 km north east of Kalgoorlie. The Company's main objective is to make a significant gold discovery that can be brought to production.

Source:
OzAurum Resources Ltd.

Contact:

Andrew Pumphrey Managing Director and CEO Mob +61-419-965-976 Office +61-8-9093-0039