OzAurum Resources (ASX:OZM) started a 20-hole, 1,500-meter reverse circulation drilling program at the New Cross Fault gold discovery within the Mulgabbie North project in Western Australia, according to a Wednesday filing with the Australian bourse.
The program will test gold mineralization found in recent air-core drilling, which yielded intersections including 16 meters at 3.21 grams per tonne grade of gold and 9 meters at 6.76g/t gold, the filing said.
The assay results are expected to be available in the coming weeks, according to the filing.
Shares rose 3% in afternoon trade Thursday.
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