Heap Leach Results Add Shine to OzAurum’s Mulgabbie North

Why It Matters

Fast, high‑grade recoveries and low cyanide use prove a cost‑effective production model, promising early cash flow and stronger investor appeal in a bullish gold environment.

Key Takeaways

• Column 1 achieved 90% recovery from 2.51 g/t ore.
• 60% of gold recovered within seven days, 80% in 14.
• Column 2 shows >75% recovery from 1.35 g/t ore, 39 days.
• Plant refurbishment 90% complete; dry commissioning imminent.
• Resource 11.6 Mt @ 0.70 g/t equals ~260k oz.

Pulse Analysis

Heap leach technology is a cornerstone for low‑cost gold production, but achieving rapid, high‑grade recoveries is rare. OzAurum’s Column 1 delivered 90% recovery from 2.51 g/t oxide ore, with 60% extracted in just seven days—benchmarks that outpace many comparable projects. Such swift leach kinetics reduce the time to cash flow, lower operating expenses, and improve overall project economics, especially when cyanide consumption stays modest at 0.45 kg per tonne of ore.

The Mulgabbie North operation benefits from a near‑complete plant refurbishment, now 90% finished, which paves the way for dry commissioning and a seamless transition to production. Coupled with a resource of 11.6 Mt at 0.70 g/t (approximately 260,000 ounces), the project offers a solid foundation for scaling. Early results from Column 2, processing deeper 1.35 g/t ore, already show over 75% recovery after 39 days, indicating the leach circuit can handle variable grades without sacrificing efficiency. This flexibility supports a staged development approach, potentially expanding along the 8 km Relief Shear corridor as drilling delineates higher‑grade intersections.

In the broader market, gold prices have steadied around US$4,500 per ounce, with analysts forecasting upward pressure toward US$6,300 by year‑end due to geopolitical risk premiums. For small‑cap miners like OzAurum, the ability to generate cash flow quickly without heavy upfront capital expenditures is a decisive advantage. Investors are increasingly favoring projects that combine modest capex, rapid leach performance, and scalable resources, positioning Mulgabbie North as a compelling candidate for funding and partnership as the gold bull market continues.