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OZZ fire up goldfields campaigns

21 April 2022
ASX: OZZ
Jack Baker

OZZ Resources will begin intensive exploratory drilling at the promising Rabbit Bore and Maguires Reward prospect north of the Cue mining hub in Western Australia’s Mid West region.

The initial maiden campaign will focus on separate gold-nickel and copper-gold anomalies at Rabbit Bore – moving to Maguires historic 22,000-ounce gold ground as the precious yellow metal nears US$2000/oz.

The company said exploration was rapidly gathering momentum across its suite of high-quality projects.

“Rabbit Bore is a key focus for us given the recent highly encouraging gold-nickel-copper soil geochemical anomalism identified in initial exploration, so we are very excited to shortly have drilling underway,” managing director Jonathan Lea said.

The company is also anticipating drilling at Mt Davis and Pinnacle Well in the region following confirmation of several encouraging gold trends.

Meanwhile, deskwork is underway to explore the recently acquired Vickers Well rare earth project conveniently sandwiched between Mt Davis and Pinnacle Well.

Rabbit Bore Project

  • 5km strike of regionally-significant greenstone and shear zones
  • Historical gold workings returned assays up to 4.2g/t gold – limited understanding of orientation and style
  • Rock chip sampling returned maximum values of 1,295ppm nickel, 124ppm cobalt and 5,400ppm chromite, along with elevated arsenic
  • Previous soil geochemistry outlined both gold and copper-nickel-cobalt anomalism potential–largely undercover

Maguire Reward project

Three prospects defined by previous drilling –high-grade shoots contained in two shear zones

Best drilling results include:

  • 14m @ 2.66g/t Au from 45m
  • 6m @ 3.23g/t Au from 31m
  • 7m @ 9.10 g/t Au from 81m
  • 7m @ 4.50g/t Au from 46m
  • 4m @ 4.48g/t Au from 16m
  • 10m @2.48g/t Au from 100m

Maiden Resource Estimate:

  • 209,271 indicated inferred resource
  • Stage 2 drilling planned to test dip/strike extensions and the parallel Maguires Reward structure (historical results of 4m @ 19.2g/t)
  • Toll treatment opportunities at nearby plants

OZZ’s Australian Stock Exchange-listed share price has risen 9.52 per cent today, selling at 11.5c (11: 02 am UTC+ 8 hours).

COMPANY OVERVIEW

A Perth based and Western Australian focussed gold and base metal explorer with an aim of rapid evaluation to value-add for share-holders. Ozz’s projects are located near major gold producing centres in highly prospective regions near Leonora, Cue, Meekatharra and Mt Magnet in Western Australia.

COMPANY INFORMATION

ASX: OZZ

Website

https://www.ozzresources.com.au/
https://www2.asx.com.au/markets/company/ozz

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