- Oakajee Corporation (OKJ) has begun aircore (AC) drilling at the Paynes Find Gold Project in Western Australia
- This drilling will follow-up on the company’s maiden drilling campaign which was completed in February this year
- This new program will also test possible gold strike extensions and infill drilling will then accurately test specific structural trends
- This program is expected to take one week to complete and results will be announced when they become available
- Oakajee is up a healthy 25.6 per cent and shares are trading for 4.9 cents each just before market close
Oakajee Corporation (OKJ) has begun aircore (AC) drilling at the Paynes Find Gold Project in Western Australia.
Paynes Find is located 455 kilometres northeast of Perth within the Paynes Find Greenstone Belt and it covers an area of 112 square kilometres.
Paynes Find is the second target project within the Paynes Find Greenstone Belt which has produced more than 72,000 ounces of gold.
Even though the project has been explored since the 1970s, very little effective testing of the greenstone sequences has been completed due to fragmented tenement holdings.
This AC program will consist of 1200 metres of drilling and will follow-up on Oakajee’s maiden drilling campaign that was completed in February this year.
This new program will also test possible strike extensions and infill drilling will then accurately test specific structural trends.
The maiden drilling campaign that was completed earlier this year consisted for 54 AC holes drilled in and around the Matriarch gold prospect.
Strongly anomalous gold levels were intersected in 11 of the holes.
Results from this program peaked at 811ppb (parts per billion) gold, 3.05ppm (parts per million) silver, 1310ppm copper, and 197ppm cobalt.
This new AC program is expected to take one week to complete and results will be announced when they become available.
Oakajee is up a healthy 25.6 per cent and shares are trading for 4.9 cents each just before market close.