Exploration Costs Rise as Oakajee Pursues New Gold Targets at Paynes Find

Exploration Progress at Paynes Find

Oakajee Corporation Limited has advanced its exploration efforts at the Paynes Find Gold Project in Western Australia, completing 28 aircore drill holes during the quarter ending December 2025. This drilling campaign aimed to follow up on previous gold mineralisation identified at the Paynes Find South target. The program successfully revealed a new gold mineralised shear zone on the western side of the drilling area, concealed beneath approximately 20 metres of lake clay and gravel.

The newly discovered zone aligns with a north-northwest trending mafic/felsic contact, a geological setting often favourable for gold deposits. Assay results received after the quarter’s end confirmed gold mineralisation with grades reaching up to 925 parts per billion (ppb), alongside elevated pathfinder elements such as arsenic, bismuth, copper, cobalt, and tungsten. Importantly, this mineralisation remains open to the west, north, and south, suggesting potential for further expansion.

Geological Significance and Drilling Details

The aircore drilling program included infill holes spaced at 25 metres on northern lines, which returned consistent gold grades between 100 and 400 ppb, comparable to previous results. Two additional drill lines spaced at 50 metres were completed further south, where the new mineralised shear zone was identified within sheared mafic rocks near a granite contact. The interpreted strike length of this target is approximately 2 kilometres, concealed beneath surface cover, highlighting a compelling exploration target.

Oakajee’s geological team, led by Competent Person Reginald Beaton, emphasises the significance of this discovery within the Paynes Find Greenstone Belt, a region with historic gold production exceeding 72,000 ounces. The company’s ongoing exploration strategy focuses on delineating the extent of this new zone through further drilling, subject to obtaining necessary statutory approvals and securing drilling crews.

Financial Position and Corporate Outlook

On the financial front, Oakajee reported holding $4.77 million in liquid assets at quarter’s end, comprising $77,000 in cash and $4.69 million in listed equity investments, including substantial holdings in Santa Fe Minerals and Turaco Gold. Despite operating cash outflows driven by exploration and corporate costs, the company maintains confidence in its ability to fund ongoing activities through existing cash reserves, potential equity raises, or monetisation of listed investments if required.

Payments to related parties during the quarter amounted to $66,182, reflecting standard director fees and superannuation. Oakajee’s management remains focused on balancing exploration progress with prudent financial management, ensuring the company is well-positioned to capitalise on emerging opportunities within the Paynes Find project and beyond.

Looking Ahead

With the discovery of a new gold mineralised shear zone and encouraging assay results, Oakajee is gearing up for follow-up drilling campaigns to better define the target’s size and grade continuity. The company’s ability to secure timely approvals and drilling resources will be critical in maintaining exploration momentum. Investors and market watchers will be keen to see how these next steps unfold and what they reveal about the potential scale of mineralisation at Paynes Find.