ORS - Octagonal Resources

[System]

Octagonal Resources Limited (ORS) is a Gold focused company with significant landholdings in under explored areas of Australia's two most prolific gold producing terrains; the Bendigo Zone of the Lachlan Fold Belt (Victoria) and the Eastern Goldfields of the Yilgarn Craton (Western Australia).

http://www.octagonalresources.com.au

 

[GumbyLearner]

Noticed that a Gandel clan guy is on the board. A prestigious name in retail. Haven't shone as brightly in mining though. Just take a look at Barra Resources. The code is BAR.

This is a mere amateur observation and not financial advice. DYOR

 

[aclassic]

They now look to be on to some great prospects - especially with the price of gold going the way it is.

Am I missing something?

 

[springhill]

Octagonal has been busy pumping out alot of information in the last few months.

Today the report ore processing has commenced at Porcupine Flat Processing Plant.
http://www.asx.com.au/asxpdf/20120622/pdf/426zkz3yygzs1t.pdf

●Processing of gold-bearing ore from the A1 Gold Mine has commenced at the Porcupine Flat Gold Processing Plant in Maldon
●More than 5,500 tonnes of ore delivered from the A1 Mine
●Octagonal to receive an ore processing fee and 10% of the gold produced
●The A1 Mine has historically produced more than 450,000 ounces of gold at an average grade of 30 g/t Au

In return for processing gold bearing ore from the A1 Gold Mine, Octagonal will receive:
●An ore processing fee that will cover all costs associated with the processing of A1 ore including; labour, consumables, mill maintenance, tailings disposal, and administration; and
●10% of the gold produced from the A1 Gold Mine.


On June 14 they released a company presentation.
http://www.asx.com.au/asxpdf/20120614/pdf/426tmss1w7wcy8.pdf

May 15th. Specimen Reef Initial Resource Estimate.
http://www.asx.com.au/asxpdf/20120515/pdf/42686lsbtt3dzc.pdf

●Specimen Reef initial Inferred Mineral Resource estimated at 114,000 tonnes grading 2.9 g/t Au for 10,480 ounces of gold
●Deposit remains open along strike to the north, south, and down plunge
●Significant scope to increase size of the resource
●Initial estimate calculated to support mining licence application
●Deposit only 40 kilometres from the Company’s Porcupine Flat gold processing facility at Maldon


May 2nd. High grade copper and gold intersected a Burns Prospect.
http://www.asx.com.au/asxpdf/20120502/pdf/4260n8t7h73gvv.pdf

● High-grade gold and copper mineralisation intersected at Burns Prospect up to 21.0 g/t Au and 6.7 % Cu
● Assay results for last seven holes completed in first RC drilling program continue to return significant widths and grades of gold, silver, and copper mineralisation
● Significant assay results include:
32 metres @ 1.7 g/t Au, 1.3 g/t Ag & 0.6 % Cu from 76 metres
inc. 6 metres @ 4.9 g/t Au, 1.9 g/t Ag & 2.1 % Cu from 83 metres
6 metres @ 4.9 g/t Au, 2.0 g/t Ag & 0.9 % Cu from 24 metres
1 metre @ 8.5 g/t Au, 8.7 g/t Ag & 6.7 % Cu from 123 metres
4 metres @ 0.7 g/t Au, 2.8 g/t Ag & 2.0 % Cu from 40 metres
● Results define a 15 metre wide zone of gold and copper mineralisation dipping steeply to the west and overlain by a 70 metre wide blanket of oxidised supergene mineralisation
● Drilling only completed on one traverse
● Extensional drilling planned to commence as soon as an appropriate drilling rig becomes available


April 26th. Hogan's Project Aircore drilling results
http://www.asx.com.au/asxpdf/20120426/pdf/425tlvb2xym0vq.pdf

● 310 regional aircore holes drilled for 13,313 metres
● Drilling program earns 70% equity in the Hogan’s Gold, West River, and Velvet joint ventures
● 1,500 metre long gold in regolith anomaly defined at Quimby
Prospect
● Three gold anomalous trends identified at Sideshow Prospect that correlate with structures related to the Mt Monger Fault
● Results support the potential of the Sideshow and Quimby prospects to host a gold deposit
● Closer spaced drilling planned to better define gold anomalous trends prior to bedrock drilling






ORS has had a breakout above the 5, 21 and 63 day moving averages.
100m shares on issue and $2.7m in the kitty.
This is going on a secondary watchlist for me.

 

[springhill]

ORS reports the lodging of mining licences for Specimen Reef.
http://www.asx.com.au/asxpdf/20120625/pdf/4270lsj0wbt8jw.pdf

The Specimen Reef Gold Deposit was discovered by Octagonal in July 2011. Since this time the Company has drilled 47 reverse circulation holes to define an initial Inferred Mineral Resource containing 114,000 tonnes grading 2.9 g/t Au for 10,480 ounces of gold (Figure 3 and Table 1). This mineralisation extends over 440 metres strike length and is open to the north, south, and down dip.

 

[springhill]

Octagonal has applied for 2 new exploration licences adjacent to Hogan's Project.
http://www.asx.com.au/asxpdf/20120627/pdf/42724tmmnb8286.pdf

●Exploration licence applications E15/1336 & E15/1337 lodged to increase landholding at the Hogan’s Project
●New exploration licences located adjacent to existing tenement package and cover over 38 square kilometres of highly prospective greenstone overlain by shallow transported cover.

 

[springhill]

Open Pit Mining to Commence at Black Reef, Wehla, in Central Victoria

● Regulatory approval has been received to mine a 200,000 tonne open pit on the Black Reef at Wehla in Central Victoria
● Trial open pit to determine the grade and structural controls on gold mineralisation in the Wehla Goldfield
● Mining expected to justify a larger open pit operation

The Wehla Goldfield is located 60 kilometres from the Company’s Porcupine Flat gold processing plant at Maldon and historically produced approximately 100,000 ounces of high-grade “nuggetty” gold mineralisation.
Previous drilling in the goldfield has intersected high-grade gold mineralisation however the gold grade distribution and structural controls on this mineralisation are not well understood.
Octagonal intends to resolve these issues by mining a trial open pit at Black Reef in an area where a costean returned 14 metres grading 4.6 g/t gold and drilling intersected 5 metres grading 35.4 g/t gold and 5 metres grading 14.9 g/t gold.
Once the Company has gained a better understanding of the nugget effect and structural controls on the distribution of gold mineralisation in the Wehla Goldfield it is expected that this information will help justify a larger open pit mining operation within the goldfield

 

[System]

On February 23rd, 2015, Octagonal Resources Limited (ORS) was removed from the ASX's official list in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between the Company and Abbotsleigh Proprietary Limited in connection with the cancellation of the Company's shares held by Scheme Participants.