Oakdale Resources gears up for 2021 exploration programs across Australian and American projects

Oakdale Resources Ltd (ASX:OAR)(FRA:F1S) expects a strong start to the new year with results due from its Gibraltar Halloysite-Kaolin Project in South Australia and drilling completed at the Lambarson Canyon Gold Project in Nevada. The company has completed 2,045 metres of shallow drilling in 59 holes at the Gibraltar Project, with the aim of confirming the extent of historic shallow drilling results containing kaolinitic clays and halloysite occurrence. All samples have now been collected with results anticipated in January 2021. Additionally, new work approvals for drill testing of northern extensions, along with wide-spaced regional drill traverses will be submitted to the South Australian Department of Energy and Mining (SA DEM) before the end of December. Infill and extensional drilling is proposed for the first quarter of 2021 and the company plans to estimate an inferred JORC-compliant resource for the project early in the year. Value upside potential The Gibraltar project is adjacent to Andromeda Metals Ltd (ASX:ADN) Mt Hope Kaolin-Halloysite Project on South Australia’s Eyre Peninsula and Oakdale is vitally aware of the potential growth that could follow positive results that progress to a mineral resource at the project. The high prospectivity and location provide strong value upside for Oakdale, but the company’s share price and market cap are yet to catch-up with its peers. Oakdale’s market cap is approximately $40 million and Andromeda's market cap increased from $13 million when it began exploring the region’s kaolin potential in 2018, to more than $630 million as strong results continued. Oakdale’s South Australia tenure, highlighting the Gibraltar Project (EL6506). Lambarson Canyon Project At the company’s Lambarson Canyon Gold Project in Nevada, all gold assay results from diamond drilling have been received. LCD-01 confirmed primary gold mineralisation, returning 1.16 metres at 3.15 g/t gold from 243.54 metres associated with a brecciated epithermal quartz vein containing up to 10% pyrite. Drill hole LCD-02, which was drilled to test a geophysical Induced Polarisation (IP) anomaly, intersected highly fractured and oxidised porphyry from surface to 520 feet (158 metres). Results from the gold analysis clearly highlight a zone of altered porphyritic rocks with quartz veins and disseminated sulphide mineralisation in the hole. Regional prospectivity Primary epithermal gold mineralisation confirmed in LCD-01 is typical of Nevada gold systems with Lambarson Canyon in a prolific gold producing region. The company has a large stake in Nevada’s gold producing trends, which include the Carlin Trend, Battle Mountain-Eureka Trend, Midas Trough Getchell-Comstock Trend and Walker Lane. These trends host many past-producing and currently producing gold mines which give Oakdale confidence that it is in the right country using modern exploration methods to seek gold that is still in the ground, emulating the success of others in a state that is among the world’s premier mining jurisdictions. Oakdale’s projects in the prolific gold region in Nevada, USA. Next phase of drill testing Oakdale expects to receive the results of base metal and spectral analysis of the drill core (both LCD-01 and LCD-02) in January 2021, which will be integrated with the gold results. The next on-ground exploration at the project will include additional geophysical data capture, systematic surface geochemical sampling and analysis, detailed fact mapping, prior to the planning of the next phase of drill testing. Douglas Canyon Project A total of 560 metres of drilling is planned to test outcropping steeply dipping quartz vein in shear structures at the company’s Douglas Canyon Project, also in Nevada. Previously completed rock-chip sampling of these outcropping veins has returned high-grade gold and silver results including: 16.2 g/t gold and 495 g/t silver; 14.0 g/t gold and 423 g/t silver; and 18 g/t gold, 398 g/t silver. Drilling is planned to commence in the first half of 2021 in the new field season and will be preceded by additional detailed field mapping (geological and structural), and reconnaissance prospecting. Geological surveys pending In addition to this work, the company intends to investigate the suitability of various geophysical surveys to aid in the targeting of the interpreted target mineralisation. To date, no geophysical surveys have been carried out on this property pending the selection of a suitable survey method. Discussions with suitable drilling contractors to enable a combination of RC and diamond core drilling to test the priority targets are in progress.