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Oakdale Resources chairman buys another chunk of stock

Oakdale has three gold exploration projects in Nevada and a gold processing plant in Peru.

Oakdale Resources Ltd - Oakdale Resources chairman buys another chunk of stock
The company aims to recommence operations at the Chimu gold processing plant

Oakdale Resources Ltd (ASX:OAR) chairman Chris Gale has purchased 725,676 shares in an off-market purchase for 1.4 cents each.

The $10,159 purchase increases his overall holding in the company to 13.6 million shares.

In June 2019, Oakdale signed a binding option term sheet with Alpine Resources (USA) Pty Ltd for the acquisition of its Alpine Project incorporating the Tonopah North, Douglas Canyon and Lambarson Canyon Projects in Nevada.

The projects are targeting Carlin and epithermal style gold deposits that host over one million ounces.

The Alpine exploration team has over 20 years of in-country experience, including leadership of the team that discovered the 2.3-million ounce Long Canyon gold deposit, which is now in production.

Oakdale’s objective with the three Nevada projects is to progress exploration towards drilling in 2019.

Earlier this year, Oakdale also completed the acquisition of the Chimu gold processing plant, which it intends to bring back into operation from its care and maintenance status.

Quick facts: Oakdale Resources Ltd

Price: 0.012 AUD

ASX:OAR
Market: ASX
Market Cap: $5.99 m
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