Key Highlights

  • OzAurum Resources (ASX:OZM) has reported a maiden JORC 2012 Mineral Resource for its Cross Fault Deposit of 933,000 tonnes at 1.14 g/t gold for 34,000 ounces.
  • The new resource takes the Mulgabbie North total to about 294,000 ounces of gold.
  • Cross Fault will be included in the heap leach Scoping Study that the company is advancing on a low-capital development strategy.
  • Mineralisation remains open at depth and to the north, with holes MNORC251 and MNORC263 identified as high-priority targets.

OzAurum Resources Ltd (ASX:OZM) announced on 9 November 2026 a maiden Mineral Resource Estimate for the Cross Fault Deposit at its 100%-owned Mulgabbie North Gold Project in Western Australia. The project is about 135 kilometres north-east of Kalgoorlie. The Cross Fault estimate is the second resource at Mulgabbie North, and the company says it will feed into a heap leach scoping study focused on low Capital intensity.

The Cross Fault Resource

The maiden estimate is 933,000 tonnes at 1.14 grams per tonne of gold, containing 34,000 ounces. The resource was calculated by BM Geological Services, a Western Australian Mining consultancy. OzAurum says the drilling used a nominal 25-metre by 25-metre grid, with reverse circulation supplemented by diamond and aircore drilling completed within the last two years.

The company says the resource is confirmed by consistent gold mineralisation and repeatable assays between twinned diamond, reverse circulation and aircore holes. The estimate is modest in size, and is described as an initial resource.

Project Growth and Location

Taken together with earlier work, the project’s total Mineral Resource is now about 294,000 ounces of gold. Mineralisation is hosted along the Relief Shear, a structural corridor that extends for 7.5 kilometres and includes the James, Ben, Alicia and Demag prospects.

The tenure is 100% owned and includes two mining Lease applications. The company notes the site is about 3.5 kilometres east of Northern Star’s 4.0 million tonne per annum Carosue Dam mill, which is presented as useful for infrastructure access.

The resource is drawn from drilling completed within the last two years, which gives the estimate a relatively recent data set. The company’s description of the drilling grid and the consistency of assays between holes is a central part of the case for the estimate’s reliability. The next resource update, or results from the depth targets, will show whether the 34,000-ounce figure grows as the project is tested further.

Next Steps and Limits

Cross Fault will be included in the Mulgabbie North heap leach Scoping Study. The study’s results, capital costs and processing recoveries are not yet available, so the economic value of the resource is not yet known.

Much of the potential rests on depth and strike extensions that have not yet been drilled. Mining leases and environmental approvals would also be required before any development, and timing for those steps is not addressed.

Final Word

OzAurum has built a second resource at Mulgabbie North and linked it to a low-capital processing study, which is the main development. The next step is the scoping study, and the value of the resource will depend on its results and on drilling of the depth targets. Those outcomes will show whether Cross Fault can add meaningfully to the project.

The completion of the Scoping Study and any drilling results from the depth targets will be the next measures of how much value Cross Fault adds.