Oar Resources Ltd (ASX:OAR) has made excellent progress during the initial phase of drilling at its Douglas Canyon Gold-Silver Project in Nevada.
The company started its maiden drilling campaign in November, consisting of up to four diamond holes for a total of approximately 1,000m of HQ drill core.
Oar has been testing high-grade outcropping gold and silver mineralisation and is targeting a series of parallel vein structures containing high-grade outcropping gold and silver mineralisation.
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 a depth of 213m.
Drill core from Douglas Canyon Project showing silica matrix brecciated quartz veining.
Intersecting the targeted structure in the first hole validates Oar’s exploration model at the Douglas Canyon Project and is viewed as a very encouraging initial outcome.
Given the fractured nature of the core, OAR has taken a steady, cautious approach to drilling, with a primary focus on maximising the amount of core recovered for analysis over speed of drilling
So far, approximately 175 samples have been submitted to laboratories for gold and base metal analysis, with assay results anticipated in early January.
Drilling has now paused for the Christmas period and, depending on weather, is planned to resume in the new year.