Proactive Investors - Run By Investors For Investors

Tasman Resources defines shallow IOCG targets within highly prospective corridor

Surveys and modelling confirm that Pernatty has similarities to Olympic Dam and Carrapateena.
Tasman projects on a map of Australia
The company’s projects are in a prolific IOCG area of South Australia

Tasman Resources Ltd (ASX:TAS) has defined several new shallow iron-oxide copper gold (IOCG) target areas at the Pernatty project within a highly prospective corridor in South Australia.

Detailed gravity surveys and subsequent geophysical modelling have enabled Tasman to confirm that Pernatty is within an interpreted northwest to southeast corridor containing commercial IOCG deposits.

These include Olympic Dam, Wirrda and three deposits in the Carrapateena area, which is 20 kilometres northwest of Pernatty.

Recent BHP discovery in same area

BHP Group Ltd (ASX:BHP) also recently announced the potential discovery of a major new deposit at Oak Dam West, which is within this corridor and northwest of Carrapateena.

There has been no previous drilling within the Pernatty exploration tenement.

The area was initially targeted by Tasman due to available geophysical data, the possibility of reasonable basement depths and proximity to Carrapateena.

Two detailed gravity surveys

Tasman conducted two detailed gravity surveys at Pernatty, building on regional and relatively widely-spaced publicly available data.

The first consisted of 358 new gravity stations designed to infill existing data at a 1x1-kilometre spacing, and locally at a 200x200-metre coverage.

This defined some areas of interest but flagged the need for a further detailed survey.

The second consisted of 271 new stations on the eastern side of the project and was designed to bring the level of coverage up to a generally 250x250-metre grid spacing.

Modelling highlights anomalies

Modelling of all available geophysical data shows the residual gravity response obtained from the new data and highlights a number of distinctive anomalies.

Combined modelling of the gravity data with existing magnetics has defined a number of potential IOCG target areas at relatively shallow depths.

Within each of these target areas, a number of specific bodies of interest have been identified.

Considering options

As a result, Tasman is considering potential options for drill testing including undertaking its own drilling program on one or more targets or seeking a joint venture partner.

View full TAS profile View Profile

Tasman Resources Ltd Timeline

August 25 2016
January 23 2015

Related Articles

April 30 2019
A recent scoping study put a net present value (NPV) on the Castilla y León project of US$110mln
vein graphite
March 28 2019
The company is exploring and developing graphite mines in historic jurisdictions in Sri Lanka
Mining pic
June 18 2019
A resource estimate dated November 26 last year showed a higher confidence indicated resource of 11.7 million tonnes, containing 1.8 billion pounds of zinc

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use