Oar Resources is making headway at its wholly owned Crown project in the Julimar district, some 70 kilometres north east of Perth, after finalising plans for an airborne geophysical mapping survey at the site. The project is considered highly prospective for nickel, copper and platinum group elements and is on the doorstep of Chalice Mining’s much-lauded Gonneville polymetallic discovery.
According to the company, the survey will be launched shortly and will be aimed at establishing drill targets for a first probe. The survey will be carried out over several zones in the project’s eastern districts and will include data acquisition across terrain previously charted by a string of government platforms including Minedex.
Oar also says it has acquired additional land access to explore the project’s eastern territories after liaising with numerous third parties. The Perth-based outfit nailed down access to two of its three major target areas and says it has a positive relationship with a variety of landholders who are keen to understand the geology of the ground.
The junior explorer has earmarked Crown as one of its key projects and says it is advancing to the second stage, a “technically driven” exploration strategy, as part of the venture’s three-stage process.
The initial stage involved comprehensive geological and outcrop mapping to ascertain the region’s basement geology. According to Oar, the results led it to focus the company’s exploration efforts on the project’s eastern margins.
The current second-stage, takes in the impending geophysical survey and soil sampling across a handful of target areas in the project’s eastern provinces. The third and final stage will see the company commence a maiden drilling campaign at Crown.
Crown takes in 88-square-kilometers and importantly, boasts a raft of geological features that are akin to Chalice Mining's nearby Julimar Complex according to the company.
Chalice’s Julimar discovery has had the market on red-alert since it released a whopping set of numbers in its maiden resource estimate a few months ago.
Resource numbers at Julimar have previously been reported at a massive 330 million tonnes grading 0.58 per cent nickel equivalent and 1.6 g/t palladium equivalent.
There is still a lot of work to do and Oar appears to be taking a very scientific approach to measuring up its tenement’s worth. If the junior explorer can conjour up the sort of figures from its Crown project that even give a hint of the tenor of PGE, nickel, or copper of Chalice's find, it could be game on for Oar.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
