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- Oar Resources (OAR) confirms the presence of ultramafic rocks at its Crown Project in Western Australia
- Through the first phase of a sampling program, the company has found copper sulphide in a number of samples, with assays still pending
- This is considered a vital setting for the discovery of nickel, copper and platinum group elements mineralisation
- Oar has now moved to the next phase of on-ground fieldwork at priority target areas
- Oar is trading in the grey at 1.3 cents per share at 10:45 am AEDT
Oar Resources (OAR) has confirmed the presence of ultramafic rocks at its Crown Project in Western Australia.
Very fine disseminates sulphides, including pyrite and chalcopyrite (copper sulphide) have been identified in a number of samples from the first phase mapping and outcrop rock chip sampling program.
The company believes this is very encouraging and is considered a vital setting for the discovery of nickel, copper and platinum group elements mineralisation.
Assay results from these samples are still pending.
Oar has also secured two additional land access agreements over priority one target areas in the southern end of the Crown Project.
This has allowed Oar’s geological team to commence the next phase of on-ground fieldwork at the priority target areas.
The stage two work is expected to be completed this month.
General Manager of Geology Tony Greenaway commented on this result.
“It is very pleasing to see that our initial field observations are backed up by the petrological work, confirming the presence of our target ultramafic lithologies in the area. It was also encouraging to see the petrology picking out the copper
sulphide chalcopyrite in a few of the samples,” he said.
“While these are logged as trace amounts, we can now confirm that there is copper in the system.”
Oar is trading in the grey at 1.3 cents per share at 10:45 am AEDT.
