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OZM ozaurum resources limited

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they really need to update the market on HL. we are 3 months...

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bulls007

2,248 Posts.

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06/06/25

01:08

Post #: 79338147
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Originally posted by Hateful8: ↑

I agree with what you say brother & only put up theory to show that I believe the team is considering every move and wants to establish continuity along that sheer relief, which is a valid strategy to add big ounces quickly.

What they can do and possibly could do now even after the 30 May ann is use the current resource data, then new drilling data, the cross fault understanding and interpretation of total strike and do a "Degrey" in order to get people looking, quote "The results of this diamond drilling will inform OZM’s future RC drilling at Cross Fault. OZM considers that this information can be applied along the entire Relief Shear. OZM is still working on the geological interpretation of this area and will continue to seek opinions from structural geology consultant, Dr Brett Davis".

Geo's, like accountants are rather prudent when it comes estimating or extrapolating inn the public sphere. I mean they love their rocks, AP has said it himself "he loves the geology" so why not use that and give the market what they want "screaming value" in a micro cap spec with blue sky ahead. Nothing in the ASX rules stopping them from doing so & all eyes then firmly fixed on the end result not hanging off the drill bit each ann..

Someone get on the blower and let the Big Man know if he wants any love from the market then he has to show them the goods, this ain't an Armish wedding night and you're in Kalgoorlie ffs.. Just sayin! hehe ;-) gltah h8tey

1 Moz Target Feasibility: A 1 Moz target by June 2027 is conservative, as the Relief Shear’s potential exceeds this (1.37–1.80 Moz). A target range of 900,000–1,100,000 oz (within 10–15% accuracy: ±90,000–165,000 oz) is achievable, focusing on the most prospective 3–4 km of the remaining strike.
Strategic Benefits
Market Impact: A 1 Moz target could drive significant shareholder interest, as seen with De Grey Mining’s Hemi project (750,000–1,500,000 oz target in 2019 led to a >20x share price increase).

1. Context of the Statement on Relief Shear Lithology
OZM’s Statement on the Relief Shear
The ASX announcements indicate OZM’s confidence in the geological continuity of the Relief Shear corridor, which hosts the Mulgabbie North project. Specifically:
Geological Setting: The Relief Shear spans 8 km within OZM’s tenure, occurring on a lithological contact between mafic/ultramafic and intermediate/felsic volcaniclastic rocks, with sandstone as the dominant host for high-grade gold mineralization (ASX 30 May 2025, Page 3).
Lithological Consistency: The 30 May 2025 announcement states, “OZM considers that this information [from diamond drilling at Cross Fault] can be applied along the entire Relief Shear,” suggesting that the intermediate volcaniclastic host lithology (conglomerate with interbedded sandstone) observed at Cross Fault is representative of the broader corridor.
Grade Continuity: The statement implies that the mineralization style (e.g., quartz veining with pyrite/arsenopyrite, associated with faults) and grade potential (e.g., 1.66 g/t Au at Cross Fault, 0.70 g/t Au in the MRE) may persist along the 8 km strike, supported by structural controls like north-south faults, which are known to host large gold deposits in the Eastern Goldfields (e.g., Carosue Dam, 2 km west).
Supporting Data
OZM’s confidence is grounded in several datasets:
Current MRE: 260,000 oz (11.6 Mt at 0.70 g/t Au, ASX 7 May 2025, Page 13), spanning five prospects (James, Ben, Alicia, Demag Zone, Paleochannel) over a ~2 km strike length.
Cross Fault Drilling: Post-MRE drilling (6,852 m since July 2023) at Cross Fault (1.3 km south of the MRE) confirms high-grade mineralization over a 1,000m strike length (e.g., MNORC 221: 48m at 1.66 g/t Au, ASX 1 April 2025; MNORC 251: 10m at 1.80 g/t Au from 127m, ASX 7 May 2025).
Historical Drilling: Western Reefs’ RC holes (e.g., MG-10: 25m at 2.00 g/t Au to 50m, 125m north of Cross Fault; MP-14: 2m at 2.25 g/t Au to 50m, 525m north) indicate mineralization continuity along strike.
Structural Evidence: Diamond drilling (220m) at Cross Fault reveals fault-controlled mineralization (30m offsets), with dual styles (sheeted veins, breccia) and visible gold, supporting the model of a large, structurally controlled system (ASX 30 May 2025).
Regional Analogs: The Relief Shear’s eastern margin of the Carosue Dam basin mirrors the western limb, which hosts Northern Star’s Carosue Dam mines (multi-million-ounce deposits), suggesting significant potential.
Implications for Grade Continuity
Lithological Similarity: The consistent intermediate volcaniclastic lithology (sandstone-dominated at Cross Fault, conglomerate at James/Ben/Alicia) along the Relief Shear suggests that mineralization styles (quartz veining, fault-hosted) are likely to persist, providing a geological basis for grade continuity.
Grade Variability: Grades vary from 0.70 g/t (MRE average) to 1.66 g/t (Cross Fault), with historical intercepts up to 6.79 g/t (Jack’s Show trial mining). A blended grade of 1.0–1.5 g/t Au across the corridor is plausible, reflecting supergene enrichment near surface and primary mineralization at depth.
Data Sufficiency: The statement indicates OZM has enough geological data (drilling, mapping, structural insights) to infer lithological consistency, but grade continuity requires further drilling to confirm over the full 8 km strike.
2. Feasibility of a 1 Moz Exploration Target in Two Years
Current Resource and Potential Additions
Current MRE: 260,000 oz, with ~242,000 oz added from post-MRE drilling (6,852 m), totalling ~502,000 oz (previous analysis). This includes:
Cross Fault: ~200,000 oz (1,000m strike, 20m width, 100m depth, 1.5 g/t Au, 2.7 t/m³).
Paleochannel: ~5,000 oz.
James-Ben-Alicia connection: ~37,000 oz.
Gap to 1 Moz: 1,000,000 – 502,000 = 498,000 oz needed.
Relief Shear Potential
Strike Length: The Relief Shear spans 8 km, with ~2.2 km currently mineralized (MRE + Cross Fault). The remaining ~5.8 km is underexplored but has similar lithology and structural controls.
Target Dimensions: Assume 5 km of the remaining 5.8 km is mineralized (a conservative estimate, given regional analogs like Carosue Dam):
Strike: 5,000m.
Width: 20m (consistent with Cross Fault).
Depth: 100m (to 150m below surface, as per MRE cutoff).
Grade: 1.0–1.5 g/t Au (blended average, reflecting MRE and Cross Fault).
Density: 2.7 t/m³.
Tonnage and Ounces:
Volume: 5,000m x 20m x 100m = 10,000,000 m³.
Tonnage: 10,000,000 m³ x 2.7 t/m³ = 27,000,000 tonnes.
Ounces at 1.0 g/t: 27,000,000 x 1.0 / 31.1035 = 868,000 oz.
Ounces at 1.5 g/t: 27,000,000 x 1.5 / 31.1035 = 1,302,000 oz.
Range: 868,000–1,302,000 oz.
Total Exploration Target: 502,000 (current estimate) + 868,000–1,302,000 = 1,370,000–1,804,000 oz.
1 Moz Target Feasibility: A 1 Moz target by June 2027 is conservative, as the Relief Shear’s potential exceeds this (1.37–1.80 Moz). A target range of 900,000–1,100,000 oz (within 10–15% accuracy: ±90,000–165,000 oz) is achievable, focusing on the most prospective 3–4 km of the remaining strike.
Drilling Required
Ounces per Meter: Cross Fault drilling (6,852 m) added ~200,000 oz, or ~29 oz/m. However, early-stage drilling (e.g., AC) adds fewer ounces per meter due to wider spacing. Assume 15 oz/m for initial target definition:
498,000 oz / 15 oz/m = ~33,200 m of drilling.
Timeline:
Over two years (June 2025–June 2027), this is ~16,600 m/year, or ~1,383 m/month.
OZM’s recent drilling pace (6,852 m in ~10 months, April 2024–May 2025) is ~685 m/month. Doubling this to 1,383 m/month is feasible with additional rigs, especially under the JV with LHBM funding feasibility costs.
Drilling Type: Initial AC drilling (e.g., 20,000 m at AUD 40/m = AUD 800,000) to define targets, followed by RC (13,200 m at AUD 100/m = AUD 1,320,000) to confirm mineralization, totaling AUD 2,120,000 over two years.
Classification: Most new ounces will be Inferred initially due to wide spacing (e.g., 50–100m for AC), requiring infill drilling to convert to Indicated for feasibility.
3. Strategic and Regulatory Considerations
ASX/JORC Compliance
As previously discussed, an exploration target of 900,000–1,100,000 oz is permissible under ASX Listing Rule 5.16 and JORC Clause 17, provided OZM includes:
A Competent Person’s statement (e.g., by Andrew Pumphrey).
A disclaimer on the conceptual nature of the target.
Supporting data (e.g., Cross Fault drilling, Relief Shear lithology, historical intercepts).
Supporting Evidence: OZM’s statement on the Relief Shear’s lithology, backed by drilling (e.g., 1,000m strike at Cross Fault), structural data (e.g., fault controls), and regional analogs (e.g., Carosue Dam), provides reasonable grounds for a 1 Moz target.
Strategic Benefits
Market Impact: A 1 Moz target could drive significant shareholder interest, as seen with De Grey Mining’s Hemi project (750,000–1,500,000 oz target in 2019 led to a >20x share price increase). For OZM, a 50–100% share price uplift (e.g., from AUD 0.10 to AUD 0.15–0.20) could raise AUD 2–3 million at lower dilution, funding the ~33,200 m drilling.
Feasibility Alignment: A 1 Moz target aligns with the long-term goal of a multi-million-ounce project, supporting the JV’s feasibility study (due September 2025) and a potential “decision to mine.”
Investor Confidence: The HotCopper post (Web ID: 18) highlights investor frustration with recent AC results. A 1 Moz target shifts focus to the project’s scale, regaining market momentum.
Risks
Delivery Risk: Failing to meet the target could impact credibility, though a range (900,000–1,100,000 oz) and conservative assumptions mitigate this.
Geological Risk: While lithology appears consistent, grade continuity over 5 km is uncertain without drilling. However, the Relief Shear’s structural setting and regional analogs reduce this risk.
4. Recommendation for OZM
Should OZM Announce a 1 Moz Target?
Yes: OZM has sufficient data to support a 1 Moz exploration target by June 2027, given the Relief Shear’s 8 km strike, consistent lithology, and demonstrated mineralization (e.g., Cross Fault, historical drilling). The target range of 900,000–1,100,000 oz at 1.0–1.5 g/t Au is within 10–15% accuracy, aligning with ASX/JORC requirements and offering significant market benefits.
Proposed Statement
Content: “OZM estimates an exploration target of 900,000 to 1,100,000 oz at 1.0–1.5 g/t Au for the Mulgabbie North project by June 2027, comprising the current 502,000 oz estimate and an additional 398,000–598,000 oz along the 8 km Relief Shear corridor, based on lithological continuity and structural controls.”
Supporting Data: Include Cross Fault results (e.g., MNORC 221, MNORC 251), historical intercepts (e.g., MG-10), geological mapping (e.g., sandstone host, fault offsets), and regional analogs (e.g., Carosue Dam).
JORC Disclaimer: Emphasize the conceptual nature of the target and uncertainty of future resource estimation.
Next Steps: Outline a two-year drilling plan (33,200 m) to define the target, leveraging LHBM’s funding under the JV.
Timing
Announce soon after June 05, 2025, to align with the feasibility timeline (September 2025) and regain market momentum, as suggested in the HotCopper post.
5. Conclusion
Data Sufficiency: OZM’s statement on the Relief Shear’s lithological consistency, supported by extensive drilling (79,689 m pre-MRE, 6,852 m post-MRE), structural data, and regional analogs, indicates sufficient geological knowledge to infer grade continuity and support a 1 Moz exploration target.
Feasibility of 1 Moz in Two Years: A 900,000–1,100,000 oz target by June 2027 is achievable, requiring ~33,200 m of drilling over two years, which is feasible with LHBM’s funding and an accelerated drilling pace.
Strategic Value: Announcing the target drives shareholder interest, boosts the share price, and supports capital raising for drilling, aligning with OZM’s goal of a multi-million-ounce project and the JV’s feasibility objectives.
OZM should proceed with the announcement, leveraging its geological data to communicate the Relief Shear’s potential while adhering to ASX/JORC guidelines, positioning Mulgabbie North as a significant gold asset in the Eastern Goldfields.

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they really need to update the market on HL. we are 3 months away from sept 25 due date. what is going on, where are we at and what happ in next couple of weeks
OZM Price at posting: 8.0¢ Sentiment: Hold Disclosure: Held
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