Oar Resources kicks off drilling at Douglas Canyon gold project
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Precious metals explorer Oar Resources has begun the maiden diamond drilling program at its 100% owned Douglas Canyon gold project in the prolific Walker Lane Gold-Silver district of southern Nevada, USA.
The four hole, 1,000m program will test outcropping high-grade gold and silver mineralisation, contained in shear-hosted epithermal quartz veining.
Previous outcrop sampling of these veins has returned high grades of:
Oar Resources (ASX:OAR) expects the drilling to be completed this month with results to follow.
“We are delighted to commence our maiden drill program at the high-grade Douglas Canyon gold project in Nevada,” OAR general manager geology Tony Greenaway said.
“This first phase of drilling will be a diamond drilling program comprising four holes for approximately 1,000m, targeting stand-out targets within the project area.
“Based on the exceptional high-grade results delivered in our outcrop sampling program, and the project’s location in the prolific Walker Lane district of Nevada, we see the Douglas Canyon Project as an exciting gold exploration opportunity, and we are excited by the potential of the program to deliver some strong gold intersections.”
The project sits within the Walker Lane district of Southern Nevada which hosts numerous high-grade gold-silver epithermal projects.
Fortitude Gold Corporation (OTCMKTS:FTCO) holds the Isabella Pearl gold mine just 24km to the northwest of Douglas Canyon, which has an estimated reserve of 1.28 Mt at 3.88g/t gold (159,000 ounces gold), with Fortitude targeting annual production of 40,000-45,000 ounces.
Oar says the gold mineralisation in the district is hosted in northwest trending shear-hosted epithermal quartz veins – similar to those mapped at surface at its Douglas Canyon project.
This article was developed in collaboration with Oar Resources Limited, 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.