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Oakdale Resources plans further drilling at Nevada prospects next quarter

Oakdale’s tenement package in Nevada was specifically selected for its high potential nature and historical success.

Oakdale Resources Ltd - Oakdale Resources plans further drilling at Nevada prospects in second quarter 2020
Tonopah North deposit is 5 kilometres from Tonopah which historically produced 180 million ounces of silver and 1.8 million ounces of gold

Oakdale Resources Ltd (ASX:OAR) plans to make further progress at its projects in North America, Peru and Australia this year, including drilling at prospects in Nevada, US.

The company is focused on exploring its Alpine Gold Project in Nevada, which is being acquired from Alpine Resources, with three main deposits - Tonopah North, Douglas Canyon and Lambarson Canyon sitting in a highly prospective gold province.

As part of an option agreement, Oakdale will fund Alpine’s exploration strategy aimed at discovering and defining a gold resource.

Tonopah North drilling

Drilling at the Tonopah North project commenced on October 30, 2019, with up to four initial drill holes planned for a total of 900 metres.

Assay results from drilling at TND-01 indicated no significant gold or silver values and drilling continues at TND-02.

The company remains confident that if quartz veining is hit in the main structural target zone, there is more potential for gold mineralisation.

Following completion of TND-02, Oakdale will evaluate progress from assays at Tonopah North to determine if further drilling is warranted.

Lambarson Canyon survey

An inverted polarisation survey was undertaken at Lambarson Canyon during the December quarter, indicating the presence of a shallow chargeable and resistive anomaly from separate pole-dipole arrays conducted on-site.

The area in which the anomaly and the gold prospect occur is dominated by volcanic rocks of the Permian Havallah Group, which is the same host rock that occurs at Trenton Canyon, Marigold and the Cove-McCoy gold deposits in northern Nevada.

Consequentially Oakdale has decided to prioritise drilling at Lambarson Canyon ahead of its Douglas Canyon project where permitting is underway.

The drilling program is anticipated in April 2020.

Peru gold plant

The company, through its 100%-owned Peruvian subsidiary Ozinca Peru SAC, is also the owner of a CIP Gold lixiviation plant in Southern Peru.

This plant is strategically located in a highly mineralised area, with thousands of small gold miners in the immediate vicinity, all of whom are potential customers for an Ozinca toll processing business.

A detailed engineering study revealed some tailings dam and water supply issues, which are expected to be resolved by increased well capacity and flow rates.

The construction permit for major infrastructure work has been obtained with initial work beyond the tailings dam to focus on the ball mill slabs and footings.

South Australian operations

Oakdale reviewed its projects in South Australia that were explored and drilled by 100%-owned subsidiary Lymex Limited during the quarter and believes that the Bramfield Iron Ore Project could prove to be an attractive proposition for either outright sale or joint venture - taking into account current iron ore prices.

A reconnaissance diamond drillhole test of the western contact of the iron formation and returned 37.8 metres at 40.4% iron with low phosphorus.

Preliminary metallurgical test work suggests excellent metallurgical properties with low aluminium, phosphorus, sulphur and silicon in the concentrate which would contain around 68% iron.

Oakdale also reports good metallurgy with a secondary product (hedenbergite) that will value add to the project, with very low phosphorus, sulphur, silicon and aluminium in the concentrate.

The company intends to put the project out for registration of interest over the next month.

Quick facts: Oakdale Resources Ltd

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