Oakajee Corporation Limited (OKJ) has announced the commencement of an Aircore (AC) drilling program at its Paynes Find Gold Project, located in Western Australia. Oakajee Corporation is focused on mineral exploration and development. The current drilling initiative aims to follow up on previously intersected gold at the Paynes Find South target, as reported in an earlier ASX announcement on 19 February 2024.
The drilling program will consist of a total of 28 drill holes, covering approximately 1500 metres. The Paynes Find Gold Project is situated near the Paynes Find settlement, roughly 455km northeast of Perth by road. The tenements encompass sections of the Paynes Find Greenstone Belt, which lies to the south and west of the main gold camp, an area historically producing over 72,000 ounces of gold.
OKJ has previously conducted several phases of AC drilling to assess the South Paynes Find target, most recently in November 2023. These efforts yielded anomalous gold results exceeding 0.1g/t Au, accompanied by associated pathfinder elements such as Bi, As, Co, Cu, and W. These findings are interpreted as a weathering dispersion halo originating from a nearby bedrock source yet to be intersected. The gold mineralisation trend remains open to the south, beneath shallow alluvial cover, coinciding with similar trending structures visible in the magnetic image.
The company anticipates that the AC drilling program will take approximately one week to complete. Analytical results from the drilling are expected to be reported late in the December Quarter. The current drilling is designed to both infill and extend the known target area, potentially leading to new discoveries within the Paynes Find Gold Project.
