Taruga Minerals Ltd (ASX:TAR) has welcomed the start of a reverse circulation (RC) and diamond drilling program by earn-in partner Peak Minerals at the Green Rocks Project in Western Australia
Peak’s first phase drilling will kick off with about 2,100 metres of RC drilling to intersect shallow targets between the depths of 300-375 metres, particularly at Target B prospect, which is part of an earn-in agreement with Taruga.
The holes are also targeting prospective geology and geochemical anomalies found during aircore drilling and EM surveys at Rixon and Lady Alma prospects
Peak’s second phase diamond drilling comprising 2,600 metres is projected to be completed in late August 2022.
Looking ahead, this will allow time in between the RC and diamond program for further DHEM surveying and assessment of shallow drilling.
“Highly prospective area”
Peak CEO Jennifer Neild said: “We’re excited to move the Green Rocks story forward with drilling. The theory that there are mafic-ultramafic intrusions proved to be right.
“We know there is associated sulphides from the Lady Alma core.
“There is a sulphur enriched magmatic source that fed the Rixon, Lady Alma and Copper Hills area based on drilling completed in 2021.
“We also know that traditional sulphide systems can be quite narrow such as those at Eagle’s Nest (Noront) and the Copper Cliff Offset Dike (Vale).
“It is this reason that we have been working through the mounting evidence that we are in a highly prospective area.
“It is time to drill, to get more information and the ultimate goal to hit mineralisation.”
Explanation of stage exploration plan. Currently in Q2 in drill test phase.
Target B drill program
Target B is part of an earn-in agreement with Taruga where Peak has the option to acquire up to 80% of tenement E51/1832.
This prospect was initially interpreted by Peak’s geologists as an intrusion from magnetics, potentially part of the Lady Alma Igneous Complex.
A Heli-EM survey has identified an isolated conductive feature of similar size to this interpreted intrusion.
Subsequently, geophysical inversion provided a target of approximately 500 x 300 metres at a depth of 250 metres.
Moving forward, the RC program will target the shallow conductive volume along plunge with further refinement of targets planned based on the MLEM survey results.
Target B in the white box (left image) shows Peak Tenure; the right image shows the Heli-EM conductor and drilling recently completed.