Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Oakdale Resources (OAR) has conducted a site visit at the Crown Platinum Group Element-Nickel-Copper Project after its recent acquisition agreement
  • In late April, Oakdale signed a binding acquisition agreement to acquire Australian Precious Minerals, who is the holder of the WA-based project
  • Crown is known to host a series of magnetic structures similar to Chalice Gold Mines’ Julimar Project
  • During its visit, Oakdale identified metamorphic greenstone lithologies in roadside exposures similar to ultramafic intrusives at Julimar
  • This provides the company with confidence to kickstart discussions for exploration
  • Company shares closed 20 per cent in the red and trading for 0.2 cents each

Oakdale Resources (OAR) has conducted a site visit at the Crown PGE-Nickel-Copper Project after recently announcing an acquisition agreement.

In late April, Oakdale signed a binding acquisition agreement to acquire Australian Precious Minerals, who is the holder of the Crown Project.

Crown is held within the exploration asset E70/5406, located within the Yilgarn Craton, approximately 60 kilometres northeast of Perth, Western Australia.

The project is known to host a series of magnetic structures that are similar to Chalice Gold Mines’ Julimar Project. Crown is largely unexplored which provides Oakdale with the opportunity to potentially unlock a new discovery similar to Julimar.

During Oakdale’s visit to the Crown Project, the company and a geologist consultant observed metamorphic rocks in outcrop along Blue Plains Road and could be seen to continue into the adjacent property to the south coincident with the respective magnetic high.

Oakdale has since identified local landholders and is in the process of discussions around property access for mapping and rock chip sampling in the near future. This will be followed by geochemical soil sampling and perhaps even drilling.

Oakdale’s goal is to identify geochemical soil anomalies that provide evidence of ultramafic sequences within and around the greenstones observed at the roadside.

These results will then form a drilling plan to target potential host lithology and polymetallic massive sulphides, similar to the ultramafic intrusive discovered at Julimar.

Company shares closed 20 per cent in the red and trading for 0.2 cents each.

OAR by the numbers
More From The Market Herald
Barton Gold (ASX:BGD) - Managing Director, Alexander Scanlon

" Barton Gold (ASX:BGD) extends discovery at Perseverance

Barton Gold (BGD) has received the first assay results from phase two drilling at the Tarcoola gold project in South Australia’s Gawler Craton
Scorpion Minerals (ASX:SCN) - Non Executive Chair, Bronwyn Barnes

" Scorpion Minerals (ASX:SCN) hits gold at Pharos

Scorpion Minerals (SCN) has received results from its recently completed reverse circulation (RC) drilling program at its Pharos project.

" Redstone Resources (ASX:RDS) begins drilling at West Musgrave

Redstone Resources (RDS) has begun a 3000-metre drilling program at the Tollu copper vein system and surrounding areas.

" Variscan Mines (ASX:VAR) receives approval for Buenahora drilling

Variscan Mines (VAR) has received government approval to drill over the Buenahora license area within the Novales-Udias Project in northern Spain.