Oar Resources Ltd (ASX:OAR) has welcomed high-grade gold and silver results from a recently completed maiden drilling program at the Douglas Canyon Silver-Gold Project in Nevada, USA.
OAR diamond-drilled two holes (DCD-01 and DCD-02) for a total of 477.8 metres at Douglas Canyon. Drilling intersected a bleached and altered zone containing oxidised quartz veining at the projected down dip target depth.
High-grade shear structure
The high-grade shear structure was mapped at surface at a depth of 110.8 metres down hole (in DCD-01).
Assays confirm that the structure continues at depth, returning a high-grade intersection of 1.8 metres at 1.28 g/t gold and 190 g/t silver from 111.09 metres, including 0.7 metres at 2.4 g/t gold and 361 g/t silver from 112.16 metres.
Cross section of DCD-01 intersecting the down dip extension of surface mineralisation.
Drill hole DCD01 successfully tested the depth extension of the outcropping high-grade gold and silver mineralisation which included 18 g/t gold and 398 g/t silver.
The hole intersected high-grade silver and gold anomalism similar to that found in outcrop.
“High-grade system at Douglas Canyon”
Oar Resources exploration manager Ross Cameron said: “This is a great result from our Douglas Canyon Project, with high-grade gold and silver mineralisation intersected in DCD-01.
“With one individual sample running over 4.3 g/t gold and 600 g/t silver, these results clearly show that we have a high-grade system at Douglas Canyon.
“We will be integrating this new information with our existing data and undertaking a complete review of the of the project, including the new adjacent tenement to the west, where we know these high-grade structures continue along strike.”
Analysis of diamond core has also identified highly significant silver anomalism approaching 20 ounces per tonne, intersected within an altered zone at the projected target depth in drill hole DCD-01.
The 2.5-kilometre western extension of the Douglas Canyon Project area covers the continuation of high-grade mineralised structures and will be investigated in coming months.
Next steps
The company plans to integrate the new data with its existing drilling and surface information and assess the drill results in context of the larger silver and gold mineralising systems in this part of Nevada.
It will then be in a position to make follow-up drilling decisions about testing along strike or down dip.
While the company carries out a detailed assessment of the drill results, it will simultaneously conduct a systematic program of mapping and sampling along strike of these interpreted structures, which are known to extend along strike to the west into the recently acquired western extension area.