The Managing Director and CEO, Andrew Pumphrey, began securing tenements at Mulgabbie, Western Australia, from as early as 1990. Over a 30-year period, Mr Pumphrey, together with his associates, compiled a portfolio of Tenements that comprise the Mulgabbie Project and Patricia Project, which are now owned by OzAurum Mines Pty Ltd, a wholly-owned subsidiary of OzAurum Resources.
Both the Mulgabbie and Patricia Projects are located within the Norseman-Wiluna Greenstone Belt of the Eastern Goldfields Province of the Yilgarn Craton. The projects are situated approximately 100km north-east of Kalgoorlie, and closely neighbour a number of existing mining operations and a gold processing plant.
The Company intends to allocate the majority of the funds raised by its IPO directly to explorative drilling and geological assessments over the next two years to progress the projects, with the remaining funds being allocated to working capital requirements and other administrative expenses.
It is anticipated that OZM will list on the ASX during February 2021.
OzAurum Resources is a gold explorer in Western Australia with s trategic landholding secured in the highly mineralised eastern Norseman-Wiluna Greenstone Belt.