C29 Metals Ltd (ASX:C29) is in the process of changing the ownership of the Torrens Project in South Australia and has completed the regulatory documentation to continue the transfer of the exploration licences.
The Torrens Project comprises two exploration licence applications (ELA 00219 and 00205) which collectively cover 1,768 square kilometres of the world class Olympic Dam IOCG Domain in Gawler Craton.
It is expected that the applications process will be completed, and tenements granted by April 2022.
Torrens North
Application ELA 00219 (Torrens North) has had the most exploration activity historically with six prospects identified.
The Torrens North area is prospective for:
- Sediment-hosted copper deposits
- Yeelirrie type calcrete-associated uranium deposits
- Mississippi Valley type (MVT) lead-zinc-copper-silver deposits
- Structurally hosted gold deposits
- IOCG (iron oxide copper gold) deposits
C29 executive director Mark Major said: “The historical findings are very encouraging as we start planning our exploration programs for the 2022 period once the tenements are fully granted.
“The exciting part is that only a small proportion of the North Torrens area was explored and only a very small area was drilled.
“We are looking forward to unlocking the potential of these exploration prospects once granted.”
West Mont prospect
West Mount has an area of historical copper workings, where small shafts and pits occur on the eastern flank of West Mount over a strike length of about 500 metres.
The mine dumps contain malachite (copper mineral) bearing quartz veins, including breccia.
Historical drilling has been limited to the Torrens North area, with several holes recording anomalous copper intersections at the West Mount prospect.
Notable intersections include:
- 28 metres at 0.34% copper from 44 metres;
- 14 metres at 0.37% from 14 metres;
- 2 metres at 1.45% from 10 metres and 6 metres at 0.32% from 58 metres; and
- 6 metres at 0.36% from 14 metres.
Seaham Prospect
Considerable areas of Tertiary silcrete outcrop within the Seaham prospect.
This area was identified to have favourable conditions for the deposition of secondary uranium mineralisation, and recorded uranium mineralisation in the form of carnotite.
An initial scintillometer traversing exploration revealed the presence of the radioactive silcrete horizon in 1979.
Airport Claypan prospect
Copper mineralisation was discovered at or near Airport Claypan in 1974.
The initial find was reported to be a low outcrop of malachite-bearing limestone at the base of a sand dune.
During a later search (after 1996) additional copper mineralisation was located along the northern and southern shores of Airport Claypan, as flakes and small cupriferous rock chips.
OK Copper Mine prospect
The OK copper mine prospect is located 1 kilometre north of the northern tip of Lake Torrens.
It is reported that the old copper workings occur in Andamooka Limestone and that secondary copper mineralisation is hosted in cavities within limestone.