The Douglas Canyon Gold-Silver Project is 100%-owned by OAR and is targeting million-plus ounce deposits in Nevada. The Project is located within Nevada’s Walker Lane Trend which hosts several significant gold resources, including Borealis and Round Mountain.

 

The Company recently increased its claim area at the project, targeting epithermal and Carlin type gold deposits. This extends the interpreted strike to >2.5km and expands OAR’s footprint in this richly endowed district of Nevada.

 

The Project has an approved CFR43-101 Exploration Permit and is fully bonded with the United States Bureau of Land Management (BLM).

 

A maiden drilling program was conducted in late 2021 and early 2022 at Douglas Canyon, comprising two diamond drill holes for a total of  478m of HQ drill core. Drilling targeted the depth extension of high-grade outcropping quartz veins hosted in sheared structures. Rock-chip sampling of these outcropping veins returned grades incuding 16.2g/t Au, 495 g/t Ag; 14.0 g/t Au, 423g/t Ag; and 18g/t Au, 398 g/t Ag.

 

The second drillhole at Douglas Canyon, DCD-01, tested the down dip extension of significant surface analomalism (18g/t Au, 398g/t Ag) associated with a -50 degree dipping structure. The drillhole intersected further high-grade gold and silver including 4.3g/t Au and 616g/t Ag, at the projected target depth, 120m below the surface anomalism.

 

In early 2022, the Company also expanded the Douglas Canyon Project area, via the strategic addition of new claims immediately adjacent and to the west of the existing project tenure.

 

The new claims increased the project area by an additional 2.59km2  to approximately 6.47km2 (647 hectares), and increased the interpreted strike length to more than 2.5km. The western extension of the main shear, the subject of OAR’s first-phase of drilling at Douglas Canyon, can be visually traced for about approximately 1.5km. 

 

The Douglas Canyon Gold -Silver Project has exploration potential which will require further drilling to test down dip and along strike extension of the known mineralisation. In addition, the new surface sampling has highlighted a previously unmapped mineralised structure to the south of the main Douglas Canyon structural trends. Further work is required to understand the importance of this newly identified mineralised trend.

 

The Company is also actively seeking JV partners to become part of the Douglas Canyon exploration effort which will allow OAR to focus on battery and other critical mineral projects.