Oar Resources sets out on maiden US gold hunt

Multi-mineral exploration company, Oar Resources is about to hit the go button on a maiden diamond drilling campaign at the high-grade Douglas Canyon gold project in the US. The company is planning a four-hole, 1000 metre campaign in Nevada aimed at targeting near-surface mineralisation and testing down dip depth extensions where historical grades have tipped the scales as high as 18 grams per tonne gold and 398 g/t silver.

The company says the campaign will target outcropping epithermal veins where historical surface sampling scored several high-grade gold and silver hits. The best historic result was an 18 g/t gold and a 398 g/t silver sample with other notable results including 16.2 g/t gold with 495 g/t silver and a 14 g/t gold strike with 423 g/t silver.

The next steps in the company’s exploration campaign is comprised of four drill holes and will initially focus on sinking two holes into previously defined, near-surface structures with high mineral content. Oar will subsequently drill another two holes to test down dip depth extensions.

Oar Resources General Manager of Exploration, Anthony Greenaway said: “We have a highly experienced contract geology team on the ground in Nevada to manage this drilling campaign, which gives the Company a high degree of confidence that we will achieve our on-ground goals. With a total of four holes and 1,000m of drill core planned, these exceptional targets will be given a thorough test and we will be eagerly awaiting the first results and observations from the core logging.”

The Douglas Canyon project sits within the Walker Lane Gold-Silver District in southern Nevada which is renowned for its abundant occurrences of volcanic-hosted epithermal gold and silver deposits.

Interestingly, Oar’s Douglas Canyon project is bordered by eight major gold projects within a 50-kilometre radius. Recent drilling results at US-based producer Fortitude Gold’s East Camp Douglas mine, some 5km south, included an impressive intercept of 22.86m going 13.55 g/t gold.

Oar Resources has been hard at work building a growing inventory of in-vouge mineral prospects including a platinum group elements, nickel and copper project in Western Australia and the Gibraltar kaolin and halloysite project in South Australia.

Backed by a wealth of impressive results to date and targeting some enticing historic returns, Oar’s pending drill program at Douglas Canyon seems to have all the right ingredients and looks to be one worth watching. Indeed, the company’s latest US venture may be the next addition to Oar’s growing and diverse inventory of in-demand assets.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au