Oar Resources Ltd (ASX:OAR) (FRA:F1S) intends to move quickly to on-ground exploration after being granted the Crown Project tenement in a highly sought-after region close to Perth in WA that hosts Chalice Mining Ltd’s (ASX:CHN) Gonneville nickel-copper-PGE discovery.
The company has received confirmation from the Department of Mines, Industry Regulation and Safety (DMIRS) in relation to the anticipated granting of Exploration Licence E70/5406 that covers the Crown Project.
Highly prospective
This project area contains numerous magnetic features interpreted to represent mafic volcanic rocks considered to be highly prospective for nickel-copper-PGE (platinum group elements) and gold mineralisation.
A detailed interpretation of regional magnetic data by independent consultants Southern Geoscience highlighted at least 20 separate target areas that require further investigation.
Aim to get boots-on-ground
OARs general manager of geology Tony Greenaway said: “We are very pleased to have now received the eagerly anticipated notification of grant for our Crown Project tenement.
"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.
“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.”
Oar’s Crown Project showing detailed geological interpretation and prioritised target areas.
Crown Project is just 9 kilometres west of the Julimar Complex in the western part of the Yilgarn Craton, where Chalice Mining made the Gonneville discovery, and around an hour outside Perth.
Recent Chalice results include 50 metres at 1.8 g/t palladium, 0.5 g/t platinum, 0.9 g/t gold, 0.2% nickel and 1. 1% copper.
Land access negotiations
With the tenement granted to OAR, land access negotiations will begin immediately, to enable initial on-ground reconnaissance exploration work to be undertaken.
OAR will initially undertake a program of reconnaissance mapping and rock chip sampling to verify the geophysical target areas, followed up by systematic geochemical soil sampling.
This will enable the company to finalise potential drill targets for a maiden drilling program proposed in the second half of 2021.