Tasman Resources Unveils New Drill Targets at Parkinson Dam Project
TASMAN RESOURCES LTD (TAS) Share Update September 2024 Tuesday 24th
Tasman Resources Announces Promising Survey Results at Parkinson Dam
Tasman Resources Ltd has announced the results of a recent in-fill gravity survey at their Parkinson Dam project in South Australia, revealing five promising new drill targets.
Instant Summary:
- Five un-drilled primary drill targets confirmed by in-fill gravity survey.
- Survey conducted at Parkinson Dam, located on the southern margin of the Gawler Craton.
- Previous drilling in 2006-2007 intercepted high-grade mineralization.
- Archimedes Consulting processed and integrated geophysical data.
- Extensive drilling program planned over the next 6 months.
Project Overview
The Parkinson Dam project, located in South Australia, is situated on the southern margin of the Gawler Craton, an area known for hosting numerous iron oxide, copper, and gold (IOCG) deposits. The recent in-fill gravity survey conducted by Tasman Resources Ltd has confirmed five primary drill targets, enhancing the potential for significant mineral discoveries.
Previous drilling campaigns in 2006-2007 intercepted high-grade mineralization, including a notable drill hole (PD 63) that intercepted 21 meters down hole from 179 meters at 21g/t gold and 83g/t silver. This historical data supports the potential of the newly identified targets.
Survey Details
Archimedes Consulting, an Adelaide-based geophysical consultancy, was engaged in April 2024 to process existing geophysical data over EL 6495, integrate it with the April 2024 IP survey, and incorporate the recent 200m x 200m close-spaced in-fill gravity data. The aim was to target possible feeder zones for follow-up drilling.
The in-fill gravity survey results indicated that two of the targets are directly over gravity highs, two are partially over gravity highs, and the final target is on the edge of a gravity high. This geophysical evidence, combined with previous high-grade drill intercepts, supports the case for an extensive drilling program over the next six months.
Geophysical Findings
The survey data was conducted on a 200m grid spacing with closer spacing around the Archimedes drill targets. The Vertical Gradient (VG) of the Bouguer gravity map from the in-fill survey confirmed that all five of the magnetic targets identified by Archimedes Consulting are worthy of primary exploration drill targets.
Using its proprietary ACM method, Archimedes was able to detect and map in 3D potential mineralization styles, including epithermal gold-silver, inferred porphyry, intrusion-related, and IOCG gold-copper. The survey identified regions of low magnetic susceptibility corresponding to known silica-rich epithermal mineralization and higher magnetic semi-vertical pipe-shaped features extending from depths of 1,200 meters to 5,000 meters.
Next Steps
The encouraging results from the in-fill gravity survey have paved the way for an extensive drilling program over the next six months. Tasman Resources plans to drill-test these five primary targets, which have not been previously drilled, to explore their potential for significant mineral deposits.
The combination of favorable geological features, historical high-grade mineralization, and advanced geophysical data processing techniques has provided Tasman Resources with compelling drill targets that could lead to significant discoveries at the Parkinson Dam project.
The confirmation of five new drill targets at Parkinson Dam is a positive development for Tasman Resources. This announcement is likely to boost investor confidence and could lead to an increase in the company's stock price as the market anticipates potential discoveries. The extensive drilling program planned over the next six months will be crucial in determining the project's success and its impact on the company's valuation.
Investor Reaction:
Analysts are likely to react positively to the announcement, given the historical high-grade mineralization and the advanced geophysical techniques used to identify the new drill targets. Investors may view this as a significant step forward for Tasman Resources, potentially leading to increased interest and investment in the company.
Conclusion:
Investors should keep a close eye on the progress of the drilling program at Parkinson Dam over the next six months. The confirmation of five new drill targets enhances the project's potential, and successful drill results could significantly impact Tasman Resources' valuation. Stay informed and consider the potential long-term benefits of this promising development.