Aeris Resources Limited (ASX: AIS) has provided an update on its 70%-owned Torrens Exploration Project in South Australia. The first drill hole, TD7, from the Phase 1 drill program at Lake Torrens has been successfully completed and the company has intersected encouraging geology, including hermatite alteration zones.
Aeris Resources Limited (ASX: AIS)has provided an update on its 70%-owned Torrens Exploration Project in South Australia. The first drillhole, TD7, from the Phase 1 drill program at Lake Torrens has been successfully completed.
Drillhole TD7 has been successfully completed on Lake Torrens
Encouraging geology intersected including hematite alteration zones
The unique drill set-up and infrastructure on the lake surface has performed exceptionally well
Drillhole TD7 targeted a coincident magnetic and gravity anomaly defined from the FALCON geophysical survey flown early in 2018. TD7 was located approximately 1.5km from the shoreline of Lake Torrens and was drilled to a total depth of 858.6m.
Preliminary geology observations of TD7 include a 60m wide intersection with hematite + K feldspar + sericite altered non-magnetic interval. Hematite is recognised as an accessory mineral associated with IOCG mineralisation within the Gawler Craton.
The unique drill set-up and infrastructure requirements to allow drilling to occur on the salt crust surface of Lake Torrens has been a success. Following the completion of drillhole TD7, the drill rig and site infrastructure was safely demobilized and moved a further 7km east from Lake Torrens shoreline (western margin) for commencement of drilling TD8.
Aeris Executive Chairman, Andre Labuschagne said that the drilling process has gone very well to-date.
“Whilst it is early days and logging and assays are still pending, we are very encouraged with what we have seen from this first hole. It is also pleasing that we have safely completed this first hole using the unique drill rig configuration,” he said.