Established Australian copper and gold producer and explorer, Aeris Resources Limited (ASX: AIS) has provided an update on the Torrens exploration project (Torrens), a joint venture between Aeris Resources Limited (70%) and Kelaray Pty Ltd (30%), a wholly owned subsidiary of Argonaut Resources NL (ASX: ARE).
Approvals received which enable on-ground exploration activities to re-commence.
Passive seismic survey to be undertaken in the December quarter.
The two regulatory approvals (updated Program for Environmental Protection and Rehabilitation and a Native Title summary determination to conduct mining operations within the Torrens project area) required to enable on-ground exploration activities at Torrens have now been received.
The Torrens Joint Venture partners plan to re-commence on-ground exploration activities in the coming quarter and will be conducting a passive seismic survey. The passive seismic survey will assist with refining geological / geophysical models used for drill targeting.
Whilst Torrens is a highly prospective exploration project it is also geologically very complex, in part due to the basement rocks lying beneath several hundred metres of cover. The passive seismic survey will assist in better understanding the regional stratigraphic sequences overlying the basement rock, which in turn assists with refining geophysical models used to vector in on the most prospective target areas.