Douglas Canyon gold drilling is tracking on target: Oar

Oar Resources is making good progress on its maiden diamond drilling program at the Douglas Canyon gold project in Nevada, in the USA, with its first hole intersecting the targeted structure.

DCD 02, which targeted the depth extension of a highly fractured high-grade quartz vein within highly sheared meta sediments mapped at surface, successfully intersected a silica matrix brecciated quartz vein close to the current depth of the hole (213.5m).

It’s a geological validation of Oar Resources’ (ASX:OAR) exploration model at the Douglas Canyon project and, for non-geologists, it’s simply a very encouraging initial outcome.

Assays pending laboratory analysis – drilling to recommence in the new year

A total of 175 individual core samples have been delivered to the laboratory in Reno for analysis with results expected early in 2022.

The fractured nature of the core has resulted in the company taking a cautious approach to drilling in order to maximise the amount of core recovered for analysis.

Drilling will now pause over the Christmas period with the rig remaining on-site over the current hole to facilitate a rapid re-start of drilling in the new year.

Oar is drilling up to four holes totalling 1,000m at Douglas Canyon.

Douglas Canyon project

The Douglas Canyon project is located within the prolific Walker Lane district of Southern Nevada that hosts numerous high-grade gold-silver epithermal projects.

These include Fortitude Gold Corporation’s Isabella Pearl gold mine that is just 24km northwest of the project.

Mineralisation in the district is hosted in northwest trending shear-hosted epithermal quartz veins – similar to those mapped at surface at Douglas Canyon.

Outcrop sampling at the project had returned results such as 18 grams per tonne (g/t) gold and 398g/t silver, and 16.2g/t gold and 495g/t silver.

This article was developed in collaboration with Oar Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.