Oakdale Resources begins drilling in Nevada gold territory after raising $2.2 million

Oakdale Resources Ltd (ASX:OAR) has kicked off diamond drilling operations at its wholly-owned Lambarson Canyon Project in the prolific gold territory of Nevada, US.

The company is well funded for drilling following a placement of shares to institutional funds and professional and sophisticated investors to raise A$2.2 million.

Drilling is anticipated to run through until the end of September.

Exploring gold country[hhmc]

Once drilling is completed at Lambarson Canyon, drilling operations will move south to Douglas Canyon to test multiple high-grade outcropping epithermal quartz vein systems.

Nevada projects with regional mines and reported historical and current resources & reserves.

The Lambarson Canyon Project is in northern Nevada where Oakdale is targeting intrusion-related and distal disseminated gold mineralisation, similar to million-plus ounce gold deposits in the Battle Mountain-Cortez and Getchell trends.

Oakdales planned drilling campaign may comprise up to five diamond drill-holes at the Lambarson Canyon Project that will focus on testing gold targets.

Initial fieldwork has identified high-grade outcropping gold mineralisation which returned a channel sample of 3 metres at 6.97 g/t gold and an individual rock-chip/float sample which returned 61.6 g/t, along with a strong coincident electromagnetic resistivity and conductivity anomaly south of the outcropping mineralisation.

Lambarson Canyon simplified geology showing Read More – Source




Related Articles

Back to top button