OzAurum says potential of new lithium project ‘too good to be true’
September 26, 2023 at 08:01 pm
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OzAurum Resources Ltd (ASX:OZM) CEO Andrew Pumphrey speaks with Proactive after announcing the company has wrapped up due diligence for the acquisition of the Linopolis Jaime hard rock lithium project in Minas Gerais, Brazil, and is on track to take possession. The project sits in an area rich with more than 20 lithium–caesium–tantalum (LCT) bearing pegmatites. This area has confirmed spodumene grades of up to 7.36% lithium dioxide (LiO2) with an average spodumene grade of 6.94% LiO2. These spodumene crystals are unique in their coarse texture, a rarity in lithium deposits.
“I am keen to get back on the ground in Brazil and commence exploration of the company’s Linopolis Jaime project,” Pumphrey said.
“While there, I will be looking to acquire a diamond drilling rig and get our in-house diamond drilling capability organised which will provide us with certainty around our exploration program.
“We will also review additional lithium acquisition opportunities should they arise. We are very excited by the opportunities that these projects will bring to the company and look forward to exploring and providing updates to shareholders.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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OzAurum Resources Limited is an Australia-based gold exploration company. The Company is engaged in identifying, exploration and development of gold projects in Western Australia. The Company's projects include Mulgabbie Project and Patricia Project. Its 100% owned Mulgabbie North Gold Project covers 10 kilometers (km) of greenstone belt in Australia. Its Mulgabbie North Project tenements adjoins the Carosue Dam Dervish and Kararimine sites, which contain 1.7 million ounces of mineable gold reserves. It is exploring eight km of strike along the Relief Shear adjacent to Carosue Dam Mine and the adjoining 3.5 million ounces (Moz) NST Karari and Whirling Dervish gold mines. The Patricia Gold Project is situated Northeast of Kalgoorlie in the Eastern Goldfields of Western Australia and located within the Celia Tectonic Zone that hosts gold deposits and operating gold mines, including Sunrise Dam, Deep South, Safari Bore, Linden and the Anglo Saxon Gold Mine.