21/07/2021 - 11:59

Oar launches nickel-PGE hunt near WA’s Julimar discovery

21/07/2021 - 11:59

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Oar Resources has launched field exploration at its Crown nickel-copper-PGE and gold project just 9km west of Chalice Mining’s heralded Julimar discovery in Western Australia. Geological mapping and outcrop sampling will look to assess about 20 identified target areas, with systematic soil sampling set to follow. A maiden drilling program is planned for later in the year.

Oar Resources’ 100 per cent owned Crown project some 70km north-east of Perth, Western Australia. Credit: File

Oar Resources has launched field exploration at its Crown nickel-copper-PGE and gold project just 9km west of Chalice Mining’s heralded Julimar discovery in Western Australia. Geological mapping and outcrop sampling will look to assess about 20 identified target areas, with systematic soil sampling set to follow. A maiden drilling program is planned for later in the year.

Oar recently secured the 93 square kilometre Crown exploration licence, located about 70km north-east of Perth on the western edge of the mineral rich Yilgarn Craton.

Multiple magnetic features believed to be prospective for nickel-copper-precious-group-element and gold mineralisation have already been identified by Oar.

Geological and structural interpretation of regional magnetic data by independent company consultant, Southern Geoscience, has classified at least 20 targets as warranting follow-up, with four targets ranked as high priorities.

Geophysical trends at Crown are believed to represent rock sequences similar to Chalice’s nearby Gonneville discovery.

The Gonneville discovery hole last year returned 19m at 2.6 per cent nickel, 1 per cent copper, 8.4 grams per tonne palladium and 1.1 g/t platinum from 48m, sending Chalice’s share price soaring from under 20c prior the discovery to as high as $9.34 recently. The company says it has so far identified 11 high-grade mineralised zones along a 1.8km-by-0.9km area, with a further 24km of strike yet to be drilled.

Other stellar hits from a series of eye-catching results include 25m at 8.5 g/t palladium, 0.9 g/t platinum, 0.1 g/t gold, 2 per cent nickel, 0.9 per cent copper and 0.11 per cent cobalt from 46m.

Elsewhere a broad 50m intercept returned 1.8 g/t palladium, 0.5 g/t platinum, 0.9 g/t gold, 0.2 per cent nickel and 1.1 per cent copper from 112m.

Oar plans to get the drill-rods turning on the 100 per cent owned Crown tenure in the fourth quarter this year.

The Perth-based company is well funded for the proposed exploration campaign following a recent $2.3m share placement.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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