Oakdale Resources Ltd (ASX:OAR) will have the drill spinning this week for an initial 900-metre core drilling program at the Tonopah North Gold Project in the prolific US gold region of Nevada.
Drill road access has been completed, the contractor has a drill rig is on-site and preparations are being finalised for the program which is designed to test several mineralised structures and associated stratigraphic targets.
Drilling will start at TND-01, a shallow target associated with old workings and a stockwork style of mineralisation before progressing to the northern target area.
“Major step” for Oakdale
The companys technical director Geoff Balfe said, “Drilling here in Nevada represents a major step for Oakdale and its shareholders after having secured this highly prospective project.
“Nevada state is one of the major global gold producers and to be here alongside some of the biggest gold producers in the world, is really exciting for us.
“Gold endowment here is strong and Im looking forward to drilling our key structural targets here that will bring us exploration success.”
Shares have risen around 8% this morning to 1.4 cents, up from 0.79 cents on September 4.
Near mining town
Tonopah North project is 5 kilometres north of the historical silver and gold mining town of Tonopah.
The first core hole is designed to intersect a key structural target at around 200 metres vertical depth where multiple mineralised structures should intersect favourable changes in stratigraphy including a thick sequence of felsic volcanic ash known as the Tonopah Formation.
Similar structural and stratigraphic settings have been found to be favourable for gold mineralisation elsewhere in the district, such as at Tonopah deposit, formerly known as Midway gold deposit, and at Round Mountain.
Tonopah North drill targets and gold sample results.
Two target areas
Two target areas have been defined – the southern zone, which is the target for two holes and the northern zone, the target for one hole.
Southern zone is seen as a shallow stockwork target with potential for a bulk tonnage style of gold mineralisation while the hole in the northern zone is designed to test a combined structural-stratigraphic target at depth.
These target areas are interRead More – Source
