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OAR RESOURCES LIMITED - Corporate Spotlight

Oar Resources Ltd is a precious metals explorer and aspiring producer. Oar has acquired... Oar Resources Ltd is a precious metals explorer and aspiring producer. Oar has acquired 100% of Australian Precious Minerals Pty Ltd and 100% of Alpine Resources’ gold exploration projects in the highly prospective gold province of Nevada, USA. These projects are in areas with several multi-million-ounce deposits. Oar, via Lymex Tenements Pty Ltd, holds several tenements on the Southern Australia Eyre Peninsular. Oar’s Peruvian subsidiary, Ozinca Peru SAC, owns a CIP Gold lixiviation plant.More

Corporate Spotlight

Oar Resources is a precious metals explorer and aspiring producer. Oar, through its subsidiaries, has operations in Western Australia, South Australia, the US (Nevada) and in South America (Peru).
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OAR CONFIRMS PRESENCE OF ULTRAMAFIC ROCK

OAR TO BEGIN DRILLING AT DOUGLAS CANYON

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Oar Resources (ASX:OAR) to begin drilling at Douglas Canyon

Mining

ASX:OAR
Source: Oar Resources

  • Oar Resources (OAR) is set to begin a maiden diamond drilling program at the high-grade Douglas Canyon Gold-Silver Project in Nevada
  • Drilling is scheduled to begin this month with four holes planned to test outcropping gold and silver mineralisation contained in quartz veining
  • Oar will initially drill two holes with the further two to be based on the observations from logging of the first two
  • The first two holes are expected to take four to five weeks to complete with results to be announced as they become available
  • Shares in OAR closed steady on the market at 1.2 cents

    Read the Full Article on The Market Herald here

OAR CONFIRMS PRESENCE OF ULTRAMAFIC ROCK

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Oar Resources (ASX:OAR) confirms the presence of ultramafic rocks at Crown

Mining

ASX:OAR
Oar Resources (ASX:OAR) - Exploration Manager, Tony Greenaway - The Market Herald
Exploration Manager, Tony Greenaway
Source: Tony Greenaway/LinkedIn

  • Oar Resources (OAR) confirms the presence of ultramafic rocks at its Crown Project in Western Australia
  • Through the first phase of a sampling program, the company has found copper sulphide in a number of samples, with assays still pending
  • This is considered a vital setting for the discovery of nickel, copper and platinum group elements mineralisation
  • Oar has now moved to the next phase of on-ground fieldwork at priority target areas

Oar Resources (OAR) has confirmed the presence of ultramafic rocks at its Crown Project in Western Australia.


Very fine disseminates sulphides, including pyrite and chalcopyrite (copper sulphide) have been identified in a number of samples from the first phase mapping and outcrop rock chip sampling program.


The company believes this is very encouraging and is considered a vital setting for the discovery of nickel, copper and platinum group elements mineralisation.


Assay results from these samples are still pending.


Oar has also secured two additional land access agreements over priority one target areas in the southern end of the Crown Project.


This has allowed Oar's geological team to commence the next phase of on-ground fieldwork at the priority target areas.


The stage two work is expected to be completed this month.


General Manager of Geology Tony Greenaway commented on this result.


"It is very pleasing to see that our initial field observations are backed up by the petrological work, confirming the presence of our target ultramafic lithologies in the area. It was also encouraging to see the petrology picking out the copper sulphide chalcopyrite in a few of the samples," he said.


"While these are logged as trace amounts, we can now confirm that there is copper in the system."


Read the Full Article on The Market Herald here

OAR UPDATES MARKET ON CROWN PROJECT

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Oar Resources (ASX:OAR) updates market on Crown Project

Mining

ASX:OAR
Oar Resources (ASX:OAR) updates market on Crown Project
Crown Project Site. Source: Oar Resources

  • Oar Resources (OAR) progresses its first phase exploration program at the Crown Project in Western Australia
  • Exploration began in mid-July to gain a better understanding of the local geology with work consisting of geological mapping and rock chip sampling
  • Samples have been sent to the laboratory for analysis with work set to determine gold, copper, nickel and platinum group element mineralisation
  • Oar will begin a second phase of mapping and sampling in the coming days to define and refine drill targets ahead of a maiden drilling program

Oar Resources (OAR) is progressing its first phase exploration program at the Crown Project in Western Australia.


The 93 square kilometre Crown Project lies roughly 70 kilometres northeast of Perth and contains multiple magnetic features.


Exploration began in mid-July to gain a better understanding of the local geology with work consisting of geological mapping and rock chip sampling.


Initial assessment of the rock chip samples has been encouraging with several different rock types identified.


The first round of samples have been sent to the laboratory for analysis with work set to determine gold, copper, nickel and platinum group element (PGE) mineralisation.


A selection of samples will also be subject to detailed microscopic work to undertake mineral identification.


This data will then be used to provide an understanding of the origin and geological setting of the lithologies.


Oar will begin a second phase of mapping, soil and rock chip sampling in the coming days to define and refine drill targets ahead of a maiden drilling program.


Read the Full Article on The Market Herald here

OAR BEGINS FIELDWORK AT CROWN

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Oar Resources (ASX:OAR) begins fieldwork at Crown

Mining

ASX:OAR
21 July 2021 09:00 (AEST)
Oar Resources (ASX:OAR) - - The Market Herald
Source: Oar Resources

  • Oar Resources (OAR) begins fieldwork at its underexplored Crown Nickel-Copper-Platinum Group Element Project in Western Australia
  • On-ground exploration work is being undertaken to gain a better understanding of the local geology
  • Geological mapping and rock chip sampling will also be undertaken to test any identified magnetic targets
  • This will be followed up by systematic geochemical soil sampling to define and refine targets ahead of a maiden drill program

Oar Resources (OAR) has begun fieldwork at its underexplored Crown Nickel-Copper-Platinum Group Element Project in Western Australia.


The 93 square kilometre Crown Project lies roughly 70 kilometres northeast of Perth and less than eight kilometres from Chalice Mining's (CHN) Julimar Discovery.


It covers a series of prominent magnetic structures similar to Julimar which have not been drill tested.


Due to the close proximity to Julimar and absence of previous drilling, Oar believes Crown has the potential to host a significant polymetallic orebody.


On-ground exploration work is being undertaken to gain a better understanding of the local geology.


Geological mapping and rock chip sampling will also be undertaken to test any identified magnetic targets.


This will be followed up by systematic geochemical soil sampling to define and refine targets ahead of a maiden drill program.


However, before drilling can begin, Oar must undertake access discussions with landowners.


Read the Full Article on The Market Herald here

OAR READY TO GET BOOTS ON GROUND @ CROWN

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Oar Resources (ASX:OAR) ready to get boots on the ground at Crown

Mining

ASX:OAR
Inca Minerals (ASX:ICG) doubles footprint in NT

  • Oar Resources (OAR) secures an exploration licence for its recently acquired Crown Project in Western Australia
  • Located down the road from Chalice's Julimar discovery, the asset is prospective for nickel-copper-platinum group element and gold mineralisation
  • Oar will begin reconnaissance mapping and rock chip sampling to verify existing targets, before progressing to maiden drilling later this year

The Department of Mines, Industry Regulation and Safety has granted Oar Resources (OAR) an exploration licence for its recently acquired Crown Project in Western Australia's Yilgarn Craton.


Situated nine kilometres from Chalice Gold Mine's (CHN) Julimar complex, the Crown tenement is prospective for nickel-copper-platinum group element and gold mineralisation.


The Crown project area contains several magnetic features, and interpretation of magnetic data has given rise to at least 20 separate target areas according to the company.


"We are very pleased to have now received the eagerly anticipated notification of grant for our Crown Project tenement," said General Manager of Geology Tony Greenaway.


"With this now finalised, we can meaningfully engage with our landholders in the area to secure land access agreements enabling the commencement of our initial low impact on-ground exploration."


Oar will commence exploration efforts with reconnaissance mapping and rock chip sampling to verify targets, ahead of a geochemical sampling and maiden drilling before year's end.


"We very much look forward to getting boots-on-ground at Crown. An area which has had little to no previous exploration, and which we believe has significant prospectivity for the potential discovery of gold and other mineralisation."


Read the Full Article on The Market Herald here

OAR FINDS BRIGHT KAOLIN AT GILBRALTAR

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Oar Resources (ASX:OAR) finds bright kaolin at Gibraltar

Materials

ASX:OAR
Oar Resources (ASX:OAR) finds bright kaolin at Gibraltar

  • Oar Resources (OAR) finds a large zone of bright and ultra-bright white kaolinite at its Gibraltar Project in South Australia
  • The zone extends over around 2.5 kilometres by four kilometres
  • Multiple areas within this larger zone have grades above 75 ISO-B
  • Additional systematic testing of this bright, white zone will be carried out with further drilling

Oar Resources (OAR) has identified a large zone of bright and ultra-bright white kaolinite at its Gibraltar Halloysite-Kaolin Project.


The new kaolinite zone covers around 2.5 kilometres by 4 kilometres.


Multiple areas within this larger zone have grades above 75 international organisations for standardisation brightness (ISO-B), with a peak grade of greater than 80 ISO-B bright-white kaolin.


Based on these results, some samples have been sent for a detailed analysis to determine kaolinite and halloysite, results are pending.


Notably, the granite basement material in this area is similar to and interpreted to be a part of the same granite complex as the nearby Andromeda Metals' (ADN) Mt Hope Kaolin Deposit.


Additional systematic testing of this bright-white zone to be carried out with further drilling is planned. The drilling can be completed under the existing approvals.


General Manager of Geology Tony Greenaway said the results were very encouraging.


"We are currently planning additional systematic drilling over this area, and further to the west, where our results remain open," Mr Greenaway added.


"With the laboratory back up and running at its original capacity, our turn-around time for the detailed XRD analysis for halloysite will return to the nominal four weeks.


"We have prioritised these samples with the laboratory, so that we can finalise our next phase of air-core drilling which will be designed to define the extents of this new zone and enable us to move toward generating an initial resource estimate for the Gibraltar Project."


Read the Full Article on The Market Herald here

OAR TO EXPAND EXP W/ $2.3M CAP RAISE

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Oar Resources (ASX:OAR) to expand exploration with $2.3m capital raise

Materials

ASX:OAR

  • Oar Resources (OAR) receives firm commitments to raise $2.3 million through a share placement
  • The capital raising will involve the issue of 177 million shares at 1.3 cents each, representing a 7.1 per cent discount to the last closing price
  • Funds will go towards exploration work at the Crown platinum group element nickel-copper project in Western Australia
  • OAR will also use the money to start drilling at its Douglas Canyon Gold Project in Nevada and work at the Gibraltar project in South Australia

Oar Resources (OAR) has received firm commitments to raise $2.3 million through a share placement.


The capital raising will involve the issue of 177 million shares at 1.3 cents each, representing a 7.1 per cent discount to the last closing price.


Additionally, brokers who supported the placement will be issued with 40 million shares on the same terms, subject to shareholder approval.


The company has strengthened its balance sheet to be able to "hit the ground running" at its Crown platinum group elements, nickel-copper project in the Julimar district of Western Australia, once final grants for the tenement are received.


In April, OAR announced that Native Title heritage agreements had been signed and lodged with the Department of Mines, Industry Regulation and Safety. The company has since been anticipating final grants to come through "at any time".


Funds from the capital raise will go towards an initial exploration program at Crown. This is expected to include mapping, rock chip sampling and geochemical soil sampling, to be followed by a maiden drilling program.


Chairman Chris Gale said the company was "very excited" to be preparing for the first ground-based activities at Crown.


"The recent geological interpretation carried out by Southern Geoscience identified 20 priority target areas for drilling," he said.


"These targets cover a series of prominent magnetic structures similar to and extend from the Chalice Mining’s Julimar Complex, that have never been drill tested.


"We eagerly await final granting so our site team can commence their field-work to identify key drilling targets."


Further, the company will use the funds from the capital raise to start drilling at its Douglas Canyon Gold Project in the American state of Nevada.


Mr Gale said Nevada state was "elephant country" for world class gold deposits and, following identification of a number of high-grade rock chip samples, the company was "highly encouraged" with what had been observed to date.


Funds will also go towards continuing the regional reconnaissance scale drilling at the Gibraltar Kaolin-Halloysite Project in South Australia.


The next round of results from the Gibraltar Project is expected in the coming weeks. The company expected them earlier however there were delays due to the "complex process" of the assays with three different service providers.


The capital raise isn't subject to shareholder approval and is expected to be complete on June 23.


Read the Full Article on The Market Herald here

OAR RESOURCES ENDS WEEK IN TRADING HALT

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Oar Resources (ASX:OAR) ends week in trading halt

The Market Herald Deal Room

ASX:OAR
Canyon Resources (ASX:CAY) to raise $10M for Minim Martap

  • Oar Resources (OAR) ends the week in a trading halt while it plans the details of an upcoming capital raising
  • The company will remain in the halt until June 16 or when more details are released, whichever occurs first
  • Prior to entering a trading halt, Oar released its financial results for the period ending March 31, 2021
  • The company burnt $551,000 in the quarter and ended the period with just over $1 million in total available funding

Oar Resources (OAR) has ended the week in a trading halt, while it plans the details of an upcoming capital raising.


The company will remain in the halt until June 16 or when more details are released, whichever occurs first.


Oar is yet to disclose how much it intends to raise or what it will use the funds for once received.


Prior to announcing it had entered a trading halt, Oar had released its financial results for the period ending March 31, 2021.


The company burnt $551,000 in the quarter with the majority going towards exploration and evaluation.


Oar ended the quarter with just over $1 million in total available funding, representing 1.9 quarters left of use if spending levels remain the same.


This didn't phase the company however as it stated it expects future exploration and evaluation activities to be lower than the quarter just passed.


Read the Full Article on The Market Herald here

HIGH PRIORITY GOLD TARGET

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IP SURVEY IDENTIFIES HIGH PRIORITY GOLD TARGET AT LAMBARSON CANYON, NEVADA UNITED STATES 

ASX Announcement 9 December 2019 


HIGHLIGHTS: 

  • IP survey at Lambarson Canyon identifies prospective target within highly productive multi-million-ounce gold district 
  • Target is central to highest rate gold production state in United States 
  • Results indicate a shallow chargeable and resistive anomaly 300m south of the outcropping gold mineralisation 
  • Decision made to prioritise drilling at Lambarson Canyon ahead of Douglas Canyon property. 
  • Planning will focus on a US Spring (March/April) drilling campaign to test all targets.


Oakdale Resources Limited (ASX: OAR) (“Oakdale” or “the Company”) is pleased to provide an update on the results of the IP survey carried out at the Lambarson Canyon Project in East Pershing County, Nevada. The Lambarson Canyon Project is located central to a region that is one of the most prolific gold production regions in the world with over a dozen multi-million ounce gold mines within 200km radius. Nearby mines include; Trenton Canyon (4.5m oz), Marigold (5m oz), Coeur Rochester (3.2m oz), Florida Canyon (3.3m oz) and Lone Tree Mine (4.5m oz) all of which surround Lambarson Canyon and are within 100km distance.


Lambarson Canyon is in proximity to the 80m oz Battle Mountain mining district which is typically a disseminated mineralisation-style of gold deposit. Proximity to granitic intrusions and porphyries are key attributes to the targets identified by Oakdale’s IP survey and many of the large gold deposits in this Nevada region. Lambarson Canyon is one of several targets within Oakdale’s tenement package in Nevada which has been selected specifically for its high potential nature and historical success.


Oakdale’s Nevada Technical Manager Geoff Balfe said: “In terms of global gold mines, this is elephant country like no other region in the world. Subsequently we are very excited about the results of the 2D IP survey at Lambarson Canyon and how it has indicated a potential shallow disseminated sulphideporphyry type system in proximity to the known gold mineralisation. The results have expanded the target concept for the property and we are prioritising the drill testing of this project for early spring 2020.” 


Figure 1. Location of the Lambarson Canyon Project and significant mines in Northern Nevada 


Two separate Pole-dipole (2DIP, n=10) arrays were completed on the Lambarson Canyon prospect. The arrays were read South-North consisting of a single receiver in-line with the transmitter that followed 50m behind. Electrodes had a 50m separation and the lines were gridded using the NAD83 datum. The array lines are illustrated below in Figure 2:


Figure 2. 2D IP Survey Lines 434,550mN and 434,650mN showing surface projection of the IP anomaly (note: gold sample results previously disclosed in ASX release of 26 July, 2019) 


Click here to view the full announcement

COMMENCES CORE DRILLING

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OAKDALE COMMENCES CORE DRILLING PROGRAM AT TONOPAH NORTH ON NEVADA GOLD TARGETS 

ASX Announcement 30 October 2019 


HIGHLIGHTS

  • Core drilling has commenced on the Tonopah North property 
  • Up to four drill holes planned in current program for a total of 900m 
  • Targeting structurally controlled epithermal gold mineralisation in Tertiary andesite rocks


Oakdale Resources Limited (ASX: OAR) (“Oakdale” or “the Company”) is pleased to report that diamond core drilling is underway at the Tonopah North project in Nye County, Nevada.


Drilling TND-01 at Tonopah North Property, October 2019 


The drill program (figure 1, below.) will involve four core holes (TND-01 to TND-04) for a total of 900m of drilling. 


Drilling has started at TND-01 which is a shallow target associated with old workings and a stockwork style of mineralisation. Drilling will then progress to the northern target area.


Oakdale’s Technical Director Geoff Balfe: “We are highly excited at the commencement of drilling on the Alpine properties as this will entail a critical test of a number of high-quality targets that are the result of several years of exploration and target refinement in Nevada. Drilling here in Nevada represents a major step for Oakdale and its shareholders after having secured this highly prospective project. This prospect is located close to infrastructure with a town, roads, power and highway nearby all of which would facilitate a development project”.


Tonopah North 

Tonopah North project is located 5 kilometres north of the historic silver and gold mining town of Tonopah. Figure 1. shows the major structures that have been mapped on the property and the gold sample results that are derived from sampling the mine dumps that occur along the structures.


Two target areas are defined: The northern zone which is the target for TND-02 and TND-04 and the southern zone which is the target for TND-01 and TND-03. The southern zone is seen as a shallow stockwork target with potential for a bulk tonnage style of gold mineralisation. Whereas TND-02 and TND-04 are designed to test a combined structural-stratigraphic target at depth. The two target areas are interpreted to be the same structural corridor with an apparent separation due only to an area of poor outcrop. 


Figure 1. Tonopah North Drill Targets and Gold Sample Results (refer to ASX release 27 June 2019 for full table of results and JORC Table 1.) 


Click here to view the full announcement 

ABOUT US

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About Oar Resources


Oar Resources (ASX: OAR) is an ASX listed precious metals explorer and aspiring producer. Oar, through its wholly owned subsidiary Lymex Tenements Pty Ltd holds a number of tenements on the South Australian Eyre Peninsular which are considered highly prospective for halloysite and kaolinite mineralisation, graphite, nickel, zinc and  iron ore.

 

Oar has acquired 100% of the Alpine Resources gold exploration projects in the highly prospective gold province of Nevada, United States, also ranked the third best mining jurisdiction in the world. The three projects are in an area that hosts several multi-million-ounce deposits. Oar has also acquired 100% of Australian Precious Minerals Pty Ltd, holder of the Crown Project in Western Australia. Crown is situated near the Julimar polymetallic discovery. 

 

Oar’s Peruvian subsidiary Ozinca Peru SAC, owns a CIP Gold lixiviation plant, strategically located proximal to thousands of small gold miners in Southern Peru.


About the Operations


Oar has a development plan based on initially commencing operation of the current CIP lixiviation plant, processing 40 tpd. This will enable the company to quickly push the plant into early production, and generate early and significant cash flow.


Once the initial capital raising is complete, the process of upgrading the existing plant to 40 tpd will commence. 


New infrastructure to be built in phase one, includes upgrade to the existing laboratory, supply and installation of an 80 foot, 40 tonne weighbridge and installation of a new and substantial tailings facility.

 

The opportunity for the Gold Plant to start operations at a production rate of 40 tonnes per day will add great value to Ozinca, and enable cash-flow to commence almost immediately.

VIDEOS

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Oar Resources (ASX:OAR) confirms the presence of ultramafic rocks


 

Oar Resources (ASX:OAR) begins fieldwork at Crown



Oar Resources (ASX:OAR) finds bright kaolin at Gibraltar


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