Tasman Resources Ltd (ASX:TAS) (OTCMKTS:TASEF) has completed drilling at its 100%-owned Pernatty project in South Australia after diamond tails were drilled off the two previously completed reverse circulation (RC) pre-collars PRC001 and PRC005.
As expected, after the drilling of hole PRC006D basement depth in the latest two holes was considerably deeper than originally anticipated from the geophysical modelling.
The company is seeking to identify iron oxide copper-gold (IOCG) mineralisation similar to that at other projects in the region.
Hole PRC001D
Diamond coring of this vertical reverse circulation (RC) hole started from 534 metres depth and Mesoproterozoic basement comprising moderately chlorite-hematite altered acid volcanic was intersected at 984 metres.
Narrow zones of brecciation were observed but no sulphides were intersected and the hole was terminated at 1097.9 metres with no significant mineralisation intersected.
Hole PRC005D
Diamond coring of this vertical RC hole commenced from 248 metres depth and the Mesoproterozoic basement was intersected at 887.5 metres.
Lithologies encountered are similar to those in hole PRC006D, 1 kilometre to the south and comprised brecciated chlorite altered quartz diorite-granodiorite, extensively quartz-carbonate veined and intruded by fine-grained dolerite.
Minor pyrite, chalcopyrite and hematite were observed in the veins in places but no significant mineralisation was intersected.
Medium grained dolerite was dominant in the bottom of the hole with pervasive chlorite-hematite alteration, crackle brecciated in part but devoid of sulphides.
This hole was terminated at 1011.4 metres.
Eagerly awaiting Vulcan news
The company is also eagerly awaiting the results from drilling by Fortescue Metals Group Limited (ASX:FMG) at the Vulcan prospect, around 40 kilometres north of Olympic Dam, which is still in progress.
Pernatty is southeast of Carrapateena with Olympic Dam further to the northwest. It is also southeast of BHP Group Ltd’s (ASX:BHP) recent Oak Dam discoveries.