Drilling of a massive anomaly in South Australia with multiple deposit-scale target zones will begin in a bid to unearth a world class copper-gold resource

The Torrens Project is located about 80km southeast of the Olympic Dam Mine in Outback South Australia and is a joint venture between Aeris Resources (70 per cent) and Argonaut Resources (30 per cent).

 

The Torrens Project is located about 80km southeast of the Olympic Dam Mine in Outback South Australia and is a joint venture between Aeris Resources (70 per cent) and Argonaut Resources (30 per cent).

Argonaut Resources today announced that sufficient funds for Stage One of a major drilling program at the site had been committed in the 2019 financial year to complete the work.

Stage One will involve 8 to 10 drill holes to depths of 700 to 1,500m at priority drill targets. The drilling program will be the first phase of a multiphase program that is expected to take up to two years and comprise 20 to 30 deep drill holes.

Preparations are well advanced at the confirmed iron oxide copper-gold system (IOCG) and the Joint Venture will announce a commencement date once the timing of certain logistical matters is confirmed.

The Torrens anomaly is one of the largest and most geologically prospective IOCG exploration targets in the world.

The anomaly sits under a 250km long dry salt lake and is on the Torrens hinge zone, a continental scale zone of crustal weakness with the capacity to act as a conduit for mineralising mantle fluids.

The size of the intense geophysical anomaly is larger than Olympic Dam, which is the ...