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Our Projects
Lake Torrens Project: Iron-oxide Copper-Gold-Uranium (IOCGU deposits), 100% Tasman

Tasman has a very large and strategic tenement holding (over 1,300 km2) adjoining BHP Billiton's world class Olympic Dam deposit in central South Australia (Figure 1). The prime target is iron-oxide associated copper-gold-uranium (IOCGU) deposits of the Olympic Dam style, although potential for other base metal and diamonds deposits has been recognised.

Tasman has been exploring these tenements for a number of years, with drilling having been conducted at a number of prospects. The most prospective of these is Vulcan.

Vulcan Prospect

In late-2009 Tasman drilled the first hole at the Vulcan prospect, located about 30km north of Olympic Dam (Figure 1). The hole was drilled on the north western margin of a large gravity anomaly, which compares very favourably in size with other IOCGU deposits such as Olympic Dam or Carrapateena (see Figure 2). The prospect also exhibits interesting magnetic and seismic anomalies, and is located very favourably with respect to several of the key tectonic lineaments which were part of the original targeting tools used in the discovery of Olympic Dam (Figure 1).

Tasman completed 8 diamond drill holes before negotiating a farm in with RIO Tinto Exploration (RTX) which commenced in late 2012 with a cash injection into Tasman of $10 million. RTX announced their withdrawal from the Farm In in March, 2014 following the completion of a 9 hole, 12,000m drilling program managed by Tasman.

Vulcan is a very large IOCGU system, where drilling to date has intersected a number of very thick intervals of alteration and low grade mineralisation over a large target area (about 12km2). Figure 3 shows the outline of the target area as defined by gravity data and the location of the 17 drill holes completed to date.

Holes VUD 7 and 17 have confirmed that Vulcan hosts mineralisation of the same style, and of comparable thickness to that which makes up a very large portion of the nearby Olympic Dam IOCGU deposit, particularly the large tonnage bodies that occupy the south-eastern part of Olympic Dam. PACE funded Re-Os age dating of the mineralisation at Vulcan gave an average age of 1590 Ma which is essentially the same geological age as other significant IOCGU deposits such as Olympic Dam, Prominent Hill and Carrapateena.

Significant assay results from the 17 holes drilled at Vulcan to date are listed in the table below. Photos of mineralised drill core are shown in Figures 4 to 6.

 

Hole No. From Thickness Copper Gold U3O8 Silver Fe
m m % g/t kg/t g/t %
VUD03 874.2 56.7 0.59 0.17 0.05 0.9
includes 912.0 7.8 1.21 0.35 0.14 1.2
 
VUD07 1065.0 162.9 0.23 0.07 0.04 2.4 24
includes 1118.0 90.0 0.25 0.09 0.05 3.0 27
 
VUD08 899.8 179.8 0.19 0.10 0.02
includes 910.0 21.0 0.63 0.28 0.02
 
VUD011 1027.0 137.0 0.14 0.18 0.08 2.0 24
includes 1027.0 18.0 0.25 0.26 0.03 4.0 34
1094.0 12.0 0.20 0.24 0.17 4.0 28
1111.0 12.0 0.18 0.26 0.19 2.0 27
1128.0 36.0 0.23 0.10 0.04 2.0 21
 
VUD12 819.7 517.7 0.15 0.04 0.03 0.1 11
includes 819.7 11.3 0.38 0.22 0.16 2.0 29
916.0 77.0 0.26 0.05 0.03 1.0 17
1068.0 85.0 0.22 0.06 0.03 0.5 13
 
VUD15 1191.0 145.0 0.49 0.26 0.06 1.2 53
includes 1284.0 52.0 0.87 0.46 0.07 1.1 40
1310.0 21.0 1.69 1.05 0.09 1.9 21
 
VUD 16 1475.0 25.0 0.28 0.14 0.03 0.4
 
VUD 17 1089.0 188.0 0.20 0.08 0.06 2.1 24
includes 1190.0 28.0 0.43 0.13 0.15 3.3 31

Note: Assay results for holes VUD03 to VUD15 were prepared and first disclosed under the JORC Code 2004. These results have not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was previously reported. Note that these are down-hole intersections and true widths are not known at this stage.


Although drilling has so far not intersected thick and medium to high grade mineralisation, it has demonstrated the potential for economic grades and widths. Tasman believes there are a number of very positive outcomes from the drilling completed to date that confirm Vulcan is indeed the site of a very large hydrothermal system, comparable in gross size to Olympic Dam. It is quite possible that based on the size of Vulcan, the overall inadequacy of drill testing to date and the variable styles of the large IOCGU systems in the region that a substantial deposit could be found with further exploration and investigation.

To view Figures 1 to 6 click on the link below (to download 799kb pdf file).

Figures 1 to 6

Regional Potential

A large area to the immediate west of Vulcan is believed to be an attractive, if more "grass roots" style exploration target. This area, which includes the Zeus IOCGU target (refer Figure 7) is about 90km2 in area and is highlighted by a number of moderate-strength gravity and magnetic anomalies which appear to occupy the area linking the Vulcan IOCGU system to another large (but low grade and magnetite dominated) IOCGU system at Titan and the adjacent undrilled Zeus prospect (Figure 7).

Available drilling data suggests that basement in most of this area is probably shallower than at Vulcan; for example the depth to basement is generally about 600m at Titan. Specific high priority drilling targets have already been identified at Zeus.

To view Figure 7 click on the link below (to download 122kb pdf file).

Figure 7

Lucas Hill Project: Iron-oxide Copper-Gold-Uranium (IOCGU deposit), 100% Tasman

Tasman has identified an IOCGU (or Iron-Oxide Copper Gold Uranium) target at Lucas Hill, approximately 25km south east of Woomera and 100km south of Olympic Dam on the Stuart Shelf in South Australia (see Figure 1, below). The target area was identified on the basis of the following parameters:
    A discrete, probably basement-sourced gravity anomaly (see Figure 2, below), apparently larger in size and of comparable strength to the Carapateena deposit, 48km to the east northeast.
    An associated magnetic anomaly of comparable area.
    A prime regional location - within the highest priority, IOCGU Potential Zone 1 as defined by Geoscience Australia.
    Coincident and aligned along a major west northwest tectonic lineament (Figure 1) as originally defined during WMC's exploration that led to the discovery of Olympic Dam in 1975.

The untested basement gravity anomaly and associated magnetic anomaly were investigated by a previous explorer. It was believed that the source of the anomalies was likely to be about 900m depth, but the anomaly was not drilled at that stage. Geophysical modeling by Tasman indicated that the likely source of the gravity and magnetic anomalies at Lucas Hill is a significant body of quite dense material, becoming more magnetic at depth. Tasman commenced drill testing the anomaly in January 2012 and the two holes completed to date have intersected IOCG style alteration and weak copper sulphide mineralisation.

To view Lucas Hill Figures 1 & 2 click on the link below (to download 313kb pdf file).

Figures 1 & 2

Parkinson Dam Epithermal Gold-Silver (Lead-Zinc) Project, 100% Tasman

Tasman discovered this new epithermal-style system in mid-2005, following regional targeting of the area and the follow-up of anomalous geochemistry from previous explorers. The project is located about 60km west of Port Augusta in South Australia, and is strategically well located close to major highways and infrastructure and regional centres. Mineralisation is mostly hosted by the Mesoproterozoic-age Corunna Conglomerate and is characterised by quartz veining with sericite, chlorite and sulphide alteration halos, and occurs over about 4.5kmē. Tasman's initial drilling returned intersections up to 3.4g/t Au and 45g/t Ag over 3m, with thick zones of low grade lead and zinc (eg 96m at 0.2% Pb and 27m at 0.4% Zn). The first follow up diamond drill hole returned a 1.66m intersection of 7.6% Pb, 10.5% Zn, 0.4% Cu, 1.2g/t Au and 120g/t Ag.

In 2007 an intersection of 21m at 21g/t Au and 83g/t Ag (including 9m at 31g/t Au and 152g/t Ag) was obtained in a vertical diamond drill hole. This encouraging result has been followed up with further drill holes, but unfortunately this high grade mineralisation appears to be fairly limited in extent. Further drilling, designed to follow up encouraging thick zones of associated lead-zinc mineralisation hit in previous drilling is being considered.

Tasman has also recently reassessed the potential of the project in the light of recent discoveries and developments in the region. For example, in October 2013 Investigator Resources Ltd announced an Inferred Mineral Resource containing 20Moz of silver at its Paris Project located to the west of Tasman's Parkinson Dam Project in a similar regional geological position.

It has been clear for several years that a large area (stretching for at least 125km), located immediately south of the southern margin of the Gawler Range Volcanics in South Australia (see Figure 1 below) has potential for shallow epithermal gold-silver and base metal (lead-zinc-silver) deposits. In addition to Paris, significant occurrences in the area include the Menninnie Dam silver-lead-zinc deposit, Weednanna gold prospect, Uno/Morgans (gold, silver, copper prospects) and others. Tasman's Parkinson Dam prospect occurs on the eastern limit of this large area of interest, but has not been explored at all over the large western portion of the tenement immediately adjacent to but south of the Gawler Range Volcanics (about 18 km2, see Figures 1 and 2). A follow up exploration program including surface geochemistry and RAB/aircore drilling is planned.

Figures 3 & 4 show epithermal quartz veins and mineralised drill core from the area of known epithermal mineralisation shown in Figure 2.

Tasman discovered this new epithermal-style system in mid-2005, following regional targeting of the area and the follow-up of anomalous geochemistry from previous explorers. The project is located about 60km west of Port Augusta in South Australia, and is strategically well located close to major highways and infrastructure and regional centres. Mineralisation is mostly hosted by the Mesoproterozoic-age Corunna Conglomerate and is characterised by quartz veining with sericite, chlorite and sulphide alteration halos, and occurs over about 4.5kmē. Tasman's initial drilling returned intersections up to 3.4g/t Au and 45g/t Ag over 3m, with thick zones of low grade lead and zinc (eg 96m at 0.2% Pb and 27m at 0.4% Zn). The first follow up diamond drill hole returned a 1.66m intersection of 7.6% Pb, 10.5% Zn, 0.4% Cu, 1.2g/t Au and 120g/t Ag.

In 2007 an intersection of 21m at 21g/t Au and 83g/t Ag (including 9m at 31g/t Au and 152g/t Ag) was obtained in a vertical diamond drill hole. This encouraging result has been followed up with further drill holes, but unfortunately this high grade mineralisation appears to be fairly limited in extent. Further drilling, designed to follow up encouraging thick zones of associated lead-zinc mineralisation hit in previous drilling is being considered.

Tasman has also recently reassessed the potential of the project in the light of recent discoveries and developments in the region. For example, in October 2013 Investigator Resources Ltd announced an Inferred Mineral Resource containing 20Moz of silver at its Paris Project located to the west of Tasman's Parkinson Dam Project in a similar regional geological position.

It has been clear for several years that a large area (stretching for at least 125km), located immediately south of the southern margin of the Gawler Range Volcanics in South Australia (see Figure 1 below) has potential for shallow epithermal gold-silver and base metal (lead-zinc-silver) deposits. In addition to Paris, significant occurrences in the area include the Menninnie Dam silver-lead-zinc deposit, Weednanna gold prospect, Uno/Morgans (gold, silver, copper prospects) and others. Tasman's Parkinson Dam prospect occurs on the eastern limit of this large area of interest but until recently the large western portion of the tenement immediately adjacent to, but south of the Gawler Range Volcanics, has not been explored at all (about 18 km2 see Figures 1 and 2).

Figures 3 & 4 show epithermal quartz veins and mineralised drill core from the area of known epithermal mineralisation shown in Figure 2.


Corrie Dam Prospect

Partial leach soil sampling carried out in the western portion of the tenement area in 2014 defined a significant silver anomaly (Corrie Dam prospect, Figure 2) with a peak value of 630ppb within a +100ppb zone having a strike length of 1.5km and a maximum width of 480m (Figure 5). Background levels are approx. 20ppb Ag.

The Corrie Dam silver anomaly has recently been tested by air core drilling on 5 traverses totalling 38 holes for 2,840m (Figure 6). The deepest holes were 99m.

Drilling intersected strongly anomalous lead and silver values in fine grained sediments and altered high level felsic intrusives under the southern portion of the silver anomaly. These may represent the outer low grade halo around more significant epithermal mineralisation at depth.

The best drill intersection was 25m down hole at 0.36% Pb and 1.4g/t Ag from 60m in hole CDAC015, including 5m at 1.1% Pb and 2.6g/t Ag from 70m. The highest silver assays up to 33g/t over 4m appear to be supergene in origin having been concentrated by the weathering of lower grade mineralisation.

Strongly anomalous but lower level silver and lead values were also intersected in adjacent holes (refer Figure 7 showing these drill hole traces with Ag and Pb bar graphs).

The anomalous base metal intersections in CDAC 015 and some of the other holes is very similar in style and tenor to the large halo of low grade mineralisation that surrounds high grade epithermal gold mineralisation at Parkinson Dam 8km to the north-east.

Follow up RC drilling is planned at Corrie Dam to test for more extensive and potentially higher grade gold and silver mineralisation at depth

To view Parkinson Dam Figures 1 to 7 click on the link below (to download 1mb pdf file).

Figures 1 to 7

OTHER INTERESTS

Energy and Technology

Through its 46% holding in Eden Energy Ltd, Tasman has exposure to coal seam and shale gas projects in the UK as well as various technologial developments including a dual fuel system for diesel generator sets and carbon nanotubes.

Cobalt and Nickel

Through its 19% holding in Conico Ltd, Tasman has an interest in the Mt Thirsty Co-Ni-Mn oxide deposit and nickel sulphide exploration tenements located near Norseman in Western Australia.




  
 
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