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- Oakdale Resources is starting drilling at its Nevada-based gold project, after finding a number of potential targets
- The company says it expects success due to Nevada’s history as a major gold producer, which currently ranks as the sixth largest in the world
- Exploration is continuing to keep identifying new gold targets
- Oakdale’s share price is up over eight per cent today, currently sitting at 1.3 cents per share
Oakdale Resources is set to start drilling at its gold project in Nevada, U.S.A., targeting a number of prospective sites.
The initial drill program will include 900 metres of core drilling and road access, site preparation is also underway.
“Drilling here in Nevada represents a major step for Oakdale and its shareholders after having secured this highly prospective project,” Oakdale’s Technical Director, Geoff Balfe, said.
In June this year, the company purchased the Nevada gold project from the U.S.-based mining company, Alpine Resources.
Historically, Nevada is known for mass gold production, and is ranked the sixth largest gold producing area world-wide.
The hugely successful Groundrush and Long Canyon deposits, which contained 14 and 2.3 million ounces of gold respectively, reside near Oakdale’s 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,” Geoff commented.
“Gold endowment here is strong and I’m looking forward to drilling our key structural targets here that will bring us exploration success,” he added.
A geophysical 3D induced polarisation (IP) survey was recently completed at the Tonopah North project and results are underway.
Additionally, a 3D IP survey is currently in motion at the Lambarson Canyon project.
Oakdale’s share price is up 8.33 per cent today, currently sitting at 1.3 cents apiece, as of 11:41 am AEDT.
