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- Oar Resources (OAR) secures an exploration licence for its recently acquired Crown Project in Western Australia
- Located down the road from Chalice’s Julimar discovery, the asset is prospective for nickel-copper-platinum group element and gold mineralisation
- Oar will begin reconnaissance mapping and rock chip sampling to verify existing targets, before progressing to maiden drilling later this year
- Shares closed at 1.4 cents on June 17, 2021
The Department of Mines, Industry Regulation and Safety has granted Oar Resources (OAR) an exploration licence for its recently acquired Crown Project in Western Australia’s Yilgarn Craton.
Situated nine kilometres from Chalice Gold Mine’s (CHN) Julimar complex, the Crown tenement is prospective for nickel-copper-platinum group element and gold mineralisation.
The Crown project area contains several magnetic features, and interpretation of magnetic data has given rise to at least 20 separate target areas according to the company.
“We are very pleased to have now received the eagerly anticipated notification of grant for our Crown Project tenement,” said General Manager of Geology Tony Greenaway.
“With this now finalised, we can meaningfully engage with our landholders in the area to secure land access agreements enabling the commencement of our initial low impact on-ground exploration.”
Oar will commence exploration efforts with reconnaissance mapping and rock chip sampling to verify targets, ahead of a geochemical sampling and maiden drilling before year’s end.
“We very much look forward to getting boots-on-ground at Crown. An area which has had little to no previous exploration, and which we believe has significant prospectivity for the potential discovery of gold and other mineralisation.”
Shares closed at 1.4 cents on June 17, 2021.
