OzAurum Resources Limited: 2022 Exploration Plans

Perth, Australia - Following a successful year of drilling in 2021, OzAurum Resources Ltd. (ASX:OZM) has defined a number of new and exciting targets at both the Mulgabbie North and Patricia Gold Projects to be further explored, including 15,000 metres (m) of drilling planned for the next six months.

Highlights

- 15,000m of drilling planned at Mulgabbie North and Patricia over the next six months with commencement of drilling planned for late February.

- Planned drilling program consists of 3,000m diamond drilling, 7,500m Reverse Circulation (RC) drilling and 5000m Aircore (AC) drilling

- Diamond drilling at Mulgabbie North aimed to improve understanding gold mineralisation controls, as well as, targeting cross fault positions which is a key aspect of high-grade gold mineralisation in the area.

- RC drilling at Mulgabbie North aims to test new high-grade supergene gold targets between the Alicia and Ben Prospects, coinciding with the magnetic destruction zone.

- AC drilling planned to test 2km of strike to the south of Mulgabbie North along the Relief Shear.

- Gravity and drone magnetic surveys conducted at Mulgabbie North have identified new targets for further drilling.

- Further RC and Diamond drilling planned at the Patricia Gold Project, will target high-grade gold mineralisation aimed at understanding the structural complexity of the project.

- The Mulgabbie North Gold Project, situated on the Keith Kilkenny fault zone with the favourable host rocks being felsic-intermediate volcaniclastics and intrusive porphyries, is shaping up as an exciting gold discovery story adjacent the Northern Star Carosue Dam Gold Mine.

High Priority Targets for RC and Diamond Drilling at Mulgabbie North and Patricia Gold Projects

OzAurum's large-scale drilling program, including the current AC gold drill results have clearly defined significant zones of gold mineralisation along and adjacent to the Relief Shear within the Keith Kilkenny fault zone. Of particular interest, is the area immediately along strike to the south of the Ben Prospect where a number of AC holes have intersected significant supergene gold mineralisation, including MNOAC 536 which intersected 17m @ 0.80 g/t Au (from 56m) including 4m @ 1.68 g/t Au and 1m @ 1.52 g/t Au from 72m to EOH that will be targeted with planned RC drilling.

A number of these exciting new targets that have been identified for future RC drilling coincide with an extensive zone of magnetic destruction and the co-incident, strong and steep gravity gradient that extends the length of the Mulgabbie North Project. Interpretation of the recently completed detailed drone magnetic survey, and close spaced gravity survey at Mulgabbie North, is ongoing.
Initial observations and the early interpretation of RC drill results at the Patricia Gold Project indicates that it is a structurally complex project, potentially with late stage faulting that is offsetting lithologies and potential gold mineralisation. Further RC and Diamond drilling planned at Patricia will target high-grade gold mineralisation associated OzAurum recent RC drilling that includes PTORC 024 (5m @ 37.11 g/t Au), PTORC 022 (5m @ 11.74 g/t Au) and extensions at depth with drilling aimed at understanding the structural complexity of this project.

OzAurum's Chief Executive Officer, Andrew Pumphrey, said:

"The Company is excited to announce the 2022 exploration plans for the Mulgabbie North and Patricia Gold Projects. Successful drilling last year, which led to the discovery of a new widespread zone of gold mineralisation within the Mulgabbie North project- extending over 4.2 km, provides us with even greater confidence in the large-scale potential of the Project. In particular, we are excited by the potential of this area where the host rocks are intermediate-felsic volcaniclastic units - very similar to the Northern Star Carosue Dam Karari and Whirling Dervish Gold Mines.

"Extensive supergene gold mineralisation situated within the magnetic destruction zone on the very steep gravity gradient makes for exciting new targets to be tested with future RC and diamond drilling.

"Lastly, this area is under transported cover that has prevented previous effective exploration and now represents a significant exploration opportunity for the Company."

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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