Prominent Kalgoorlie-Boulder businessman Ashok Parekh appointed chair of junior explorer OzAurum Resources
The moved reunites Mr Parekh, also the non-executive chair of emerging mid-tier gold miner Horizon Minerals, with Andrew Pumphrey, who founded OzAurum in February 2021.
Mr Pumphrey said Mr Parekh's deep industry knowledge, extensive network within the Kalgoorlie-Boulder region and the wider mining and resources sector, and proven commercial acumen made him an exceptional strategic appointment for OzAurum at this pivotal time.
'I have known and worked with Ashok for many years and his experience in gold exploration and mining will be invaluable as we progress our projects,' Mr Pumphrey, who is the managing director and chief executive of OzAurum, said.
Mr Parekh's arrival sees Jeffrey Williams step down as chair, a position he has occupied since the company's inception.
Mr Williams will continue in his role as non-executive director.
OzAurum has two gold projects 130km north-east of Kalgoorlie-Boulder — Mulgabbie North and Patricia.
The company's website said it was exploring 8km of strike at Mulgabbie North, which is next to Northern Star Resources' Carosue Dam operations.
The website said gold mineralisation was open at depth and along strike, and Mulgabbie North had all the hallmarks indicating potential for a significant gold discovery.
It said a Mulgabbie North gold heap leach 50:50 profit share agreement was signed last September with two companies — Line Hydrogen and BIM Metals, together known as LHBM — to complete the Mulgabbie North heap leach feasibility study, which was being fully funded by LHBM.
OzAurum said the study was expected to take up to 12 months and following completion and, if a decision to start production was made, LHBM would operate and be responsible for funding the proposed mining and heap leach operation, with net cash after operating and capital costs to be split 50:50 between OzAurum and LHBM.
OzAurum said Mulgabbie North had a mineral resource estimate of 11.6 million tonnes at 0.70 grams per tonne for 260,000 ounces of gold, with 64 per cent in the measured and indicated categories.
Patricia, 40km north-east of Mulgabbie North, has an open pit where the company is targeting high-grade gold mineralisation at depth.
Historical production at Patricia from 1930-37 generated 5384oz of gold at 41 g/t.
The project includes the Heysen's Find Prospect 7.5km south of the Patricia open pit.
The company also has two niobium-rare earth elements projects in the Brazilian State of Minas Gerais — Catalao and Salitre, which it acquired last year.
Both projects are situated within the Alto Paranaba Magmatic Province that accounts for 97 per cent of worldwide niobium production, all hosted in carbonatite intrusions.
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