Drill rig on-site at Douglas Canyon. Source: Oar Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Oar Resources (OAR) is progressing a maiden drilling program at the Douglas Canyon gold-silver project in Nevada
  • The four-hole drilling program is testing high-grade outcropping gold and silver mineralisation as well as parallel vein structures containing mineralisation
  • Positively, the first hole has intersected highly fractured sedimentary units with siliceous chert bands, strong iron staining and quartz stringer veins, with siliceous quartz breccias
  • Oar says intersecting the targeted structure in the first hole is encouraging and validates its exploration model for the Douglas Canyon project
  • Company shares have been trading steady at 0.9 cents

Oar Resources (OAR) has reported drilling at the Douglas Canyon gold-silver project is progressing well.

The project is located in the prolific Walker Lane Gold-Silver district of southern Nevada, US.

Oar began a maiden drilling program at the start of November to test high-grade outcropping gold and silver mineralisation. It’s also targeting a series of parallel vein structures containing high-grade outcropping gold and silver mineralisation.

So far, the first hole of the four-drill hole program is targeting the depth extension of a highly fractured high-grade quartz vein within highly sheared meta sediments mapped at surface.

Positively, the first hole intersected highly fractured sedimentary units containing siliceous chert bands, strong iron staining and quartz stringer veins, with highly siliceous quartz breccias at the current depth of 213 metres.

The company said intersecting the targeted structure in the first hole validates its exploration model at the Douglas Canyon project.

Oar delivered 175 individual core samples for analysis and results are expected in the new year. Drilling is paused over the Christmas and New Year period but will resume at the start of 2022.

Company shares were trading steady at 0.9 cents at 12:38 pm AEDT.

OAR by the numbers
More From The Market Herald

" Alchemy Resources (ASX:ALY) commences aircore drilling at Karonie

Aircore drilling is underway at Alchemy Resources' (ASX:ALY) Karonie gold project 110 kilometres east of Kalgoorlie,…
Little Green Pharma (ASX:LGP) - Managing Director, Fleta Solomon

" Little Green Pharma (ASX:LGP) seeks to expand to Greece

Little Green Pharma (ASX:LGP) seeks to expand to Greece
Orexplore Technologies (ASX:OXT) - Chair, Dr Alan Bye

" Orexplore Technologies (ASX:OXT) debuts on ASX

Mineral scanning technology company Orexplore Technologies (ASX:OXT) has commenced trading on the ASX today under the…
Frontier Digital Ventures (ASX:FDV) - Founder and CEO, Shaun DiGregorio

" Frontier Digital Ventures (ASX:FDV) completes $18.9m SPP

Frontier Digital Ventures (ASX:FDV) completes a share purchase plan (SPP) with applications totalling approximately $18.9 million,…