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 company’s 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 I’m 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 interpreted to be the same structural corridor and only separated by an area of poor outcrop.
The company's gold prospects and Nevada gold deposits.
A 3D Induced Polarisation (IP) survey has been completed aimed at better defining targeted structures at depth and to help define the layered stratigraphy which is interpreted to have a control on the mineralising fluids.
Results of this work are pending while a 3D IP survey is underway at the Lamberson Canyon prospect as it is likely that this will help identify the extent of mineralisation in this area of very limited outcrop.
At Douglas Canyon prospect permitting is underway and initial drilling is planned to follow up the Tonopah North program with up to three diamond core holes expected.