Aeris Resources (ASX: AIS) has broken new ground at its Torrens project in South Australia, with drilling work having commenced as of yesterday. The first drill hole is targeting a coincident magnetic and gravity anomaly defined from the FALCON geophysical survey flown early in 2018.
Key Points:
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Assembly of the work platforms and drill rig on Lake Torrens safely completed
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Drilling has commenced on the salt lake surface
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The first drillhole (TD7) is targeting a co‐incident gravity / magnetic anomaly
Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to provide an update on its 70% owned Torrens Exploration Project in South Australia. Drilling activities within the Torrens Project commenced 21 January, marking a historic moment for Aeris and their joint venture partner Kelaray Pty Ltd (a wholly owned subsidiary of Argonaut Resources NL (ASX: ARE)). This drillhole marks the recommencement of on‐ground exploration within the project area (EL5614) following an 11 year hiatus.
Mobilisation of the drill rig and equipment to the drill site on Lake Torrens was successfully completed without incident. Each of the nine work platforms were moved individually into position by helicopter and then bolted together to form a stable platform. The drill rig was disassembled into 16 components, each weighing less than 750kg, and flown separately to the work platform and reassembled.
The first drillhole, TD7 (see Figure 1), is targeting a coincident magnetic and gravity anomaly defined from the FALCON geophysical survey flown early in 2018. Drilling is taking place on the salt lake surface, some 1.5km from the western margin of Lake Torrens. TD7 is the first of between 8 to 10 drillholes planned in the Phase 1 drill program.
Aeris Executive Chairman, Andre Labuschagne said “The site team, including our contracting partners, have done an exceptional job in establishing, without incident, the drill platform on the salt lake surface during a period of very high temperatures. To be starting drilling again at this highly prospective exploration project, after an 11 year hiatus, is very exciting. What is also exciting for Aeris and its shareholders is that separate 28 geophysical anomalies have been identified on this tenement, so we have no shortage of drill targets.”
