Oakdale Resources buoyed by intersecting primary gold in first diamond hole at Nevada project

Oakdale Resources Ltd (ASX:OAR) (FRA:F1S) is highly encouraged after confirming primary gold mineralisation in its first diamond drill hole at Lambarson Canyon Project in the US gold stronghold of Nevada and has moved to the second diamond hole. The first hole intersected a highly fractured, epithermal quartz vein containing up to 10% pyrite and returned an assay result of 1.16 metres at 3.15 g/t gold from 243.54 metres. Primary epithermal gold mineralisation such as that confirmed in hole LCD_01 is typical of Nevada gold systems with Lambarson Canyon in a prolific gold producing region. In prolific gold region Oakdale 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. First aim achieved Executive chairman Chris Gale said: “We have achieved our first aim and confirmed there is gold mineralisation at Lambarson Canyon. "Now, armed with the geological structure information gained from this diamond hole, we have commenced the second hole LCD_02 to test a geophysical anomaly some 500 metres to the south of LCD_01.” Gold mineralisation and intrusive porphyries are interpreted to be controlled by shallow dipping structures associated with regional-scale thrust events. Drill core from LCD_01 showing epithermal quartz vein returning 3.2 g/t gold. Individual drill core sample pulps from LCD_01 are being analysed for a full multi-element and pathfinder suite. The expanded elemental data set will be utilised for detailed litho-geochemical fingerprinting of the rock units, which will enable a wider mineralisation system and alteration analysis of the target area. Additional process of the available IP geophysical data to incorporate the findings of the geochemical analysis will be undertaken to assist in the design of possible follow-up work programs. Provides encouragement Gale said: "The presence of gold at depth encourages us that our exploration here supports our drilling continuation, we have identified targets and we look forward to the results from the second drill hole. "It is exciting that we can now move forward with further exploration work at Lambarson Canyon and start to plan a full drill program to potentially prove up further gold mineralisation based on these results.” Second hole underway Hole LCD_02 is designed to test a coincident IP chargeability and resistivity geophysical anomaly some 500 metres to the south of LCD_01. The hole, which has reached 127 metres depth and approaching the target depth, will continue to at least 250 metres. Rocks encountered so far are highly fractured with iron oxides strongly concentrated on fractures and may represent a 'crackle zone' above the interpreted IP anomaly. The target IP anomaly is interpreted to be a potential porphyry intrusive with disseminated sulphides.