Oakajee Completes Drilling at Paynes Find: What Will Assays Reveal?
Oakajee Corporation has wrapped up a significant drilling campaign at its Paynes Find gold project in Western Australia, with assay results expected next quarter. The company maintains a solid financial footing as it advances exploration.
- 28 air-core drill holes completed for 1258 meters at Paynes Find
- Drilling delayed but commenced early October 2025
- Gold mineralisation trends remain open to the south beneath alluvial cover
- Company holds $3.59 million in liquid assets including cash and listed shares
- Assay results expected in December quarter to guide next exploration steps
Exploration Progress at Paynes Find
Oakajee Corporation Limited has continued its focused exploration efforts at the Paynes Find Gold Project in Western Australia during the September 2025 quarter. Despite some delays related to drill rig availability and site access, the company successfully completed a planned air-core drilling program in early October, comprising 28 holes totaling 1258 meters.
The drilling campaign targeted two distinct gold mineralisation trends previously identified through earlier air-core drilling and geophysical surveys. These trends, oriented north-north-west and north-north-east respectively, remain open to the south beneath alluvial cover, which has historically masked geochemical signals. The recent drilling aims to test these concealed extensions and refine the understanding of the gold system in the southern Paynes Find area.
Strategic Tenement Holdings and Joint Ventures
Oakajee holds an 80% interest in several key tenements within the Paynes Find Greenstone Belt, including E59/2055, E59/2092, E59/2312, and M59/549, with the remaining interests held by partners such as Sayona Lithium Pty Ltd and Bruce Robert Legendre. The company acts as manager and operator of the joint venture, overseeing all exploration activities. Additionally, Oakajee wholly owns tenement E59/2391, which falls outside the joint venture arrangements.
Financial Position and Corporate Updates
At the end of the quarter, Oakajee reported liquid assets totaling approximately $3.59 million, comprising $225,523 in cash and $3.37 million in listed shares, including significant holdings in Santa Fe Minerals Limited and Turaco Gold Limited. Operating cash outflows were modest, reflecting ongoing exploration and corporate costs, while the company disclosed related party payments consistent with director remuneration arrangements.
With assay results from the recent drilling expected in the December quarter, Oakajee is positioned to assess the potential of its Paynes Find gold targets and consider further exploration or acquisition opportunities. The company continues to monitor market conditions and maintain a prudent financial strategy to support its exploration ambitions.
Looking Ahead
The upcoming assay results will be pivotal in determining the next phase of exploration at Paynes Find. Should the results confirm significant gold mineralisation, Oakajee could accelerate its drilling programs and potentially attract further investment interest. Conversely, the company’s ability to sustain its operations and expand its project portfolio will depend on these outcomes and broader market dynamics.
Bottom Line?
Oakajee’s next quarter hinges on assay results that will shape the future of its Paynes Find exploration campaign.
Questions in the middle?
- What do the pending assay results reveal about the extent and grade of gold mineralisation?
- How will Oakajee prioritize its exploration budget and activities based on upcoming data?
- Are there plans to expand the joint venture or acquire new tenements to bolster the project pipeline?
