Oar Resources (ASX: OAR) is an ASX listed junior explorer and aspiring gold producer. Oar has recently acquired 100% of the Alpine Resources gold exploration projects in the highly prospective gold province of Nevada, United States, also ranked the third best mining jurisdiction in the world. The three projects are in an area that hosts several multi-million-ounce deposits. Oakdale is to commence drilling the Lambarson and
Douglas Canyon projects in September.
Oar Resources has also acquired 100% of Australia Precious Minerals Pty Ltd Crown PGE – Nickel Project (E70/5406) which comprises a 93 km2 landholding that adjoins Chalice Minerals’ tenement and is within 8 km of their new Julimar Nickel- Copper-PGE discovery.
Oar, through its 100% owned Peruvian subsidiary Ozinca Peru SAC, is also the owner of a CIP Gold lixiviation plant in Southern Peru.
ABOUT THE OAKDALE OPERATION
Oar has a development plan based on initially commencing operation of the current CIP lixiviation plant, processing 40 tpd. This will enable the company to quickly push the plant into early production, and generate early and significant cash flow.
Once the initial capital raising is complete, the process of upgrading the existing plant to 40 tpd will commence.
New infrastructure to be built in phase one, includes upgrade to the existing laboratory, supply and installation of an 80 foot, 40 tonne weighbridge and installation of a new and substantial tailings facility.
The opportunity for the Gold Plant to start operations at a production rate of 40 tonnes per day will add great value to Ozinca, and enable cash-flow to commence almost immediately.
Peru is a mineral rich country and is in the top five producers in the world for copper, zinc, lead, silver and gold. The Peruvian economy has grown strongly through the last decade, with a stable exchange rate and low inflation.
The government’s pursuit of sound trade and macroeconomic policies has seen the country enter into numerous free trade agreements and taxation treaties. The Peruvian economy has grown at an average rate of 5.9% over the past decade, with GDP increasing 2.5% and 4% in 2017 and 2018, respectively. Growth is largely due to the mining industry, particularly in silver, zinc and copper, which provides an attractive investment environment. GDP growth for 2019 is expected to be in the vicinity of 3.5%.
Sixth Largest Gold Producing ‘Nation’ in the World
Contributes 75% of US Gold production
Low Political Risk, High Quality Infrastructure, Established Skilled Mining Workforce
Ranked “TOP 3” mining Jurisdiction by Fraser Institute
“Elephant Country” – multiple multi-million ounce world Class Gold Deposits
Discoveries continue to be made within the established trends – Groundrush (14Moz), as well as New Discoveries “outside the established trends – Long Canyon (1.3Moz)