Gold and copper explorer Torrens Mining Limited (ASX: TRN) (Torrens or the Company) is pleased to report that it has been granted one new tenement (EL7331) within the Company’s 100% owned Mt Piper Gold Project in Central Victoria.
HIGHLIGHTS
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EL7331 has been granted to Torrens at the Mt Piper Project.
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Torrens’ high priority drill target (Northwood Hill) lies within EL7331.
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Drilling is expected to commence at Northwood Hill in April or May.
The granting of EL7331 paves the way for drilling to commence at the Northwood Hill Prospect where a 5km long gold anomalous corridor was identified by Perseverance Mining in the early 1990’s.
This area represents an exciting drill target for Torrens with significant near-surface “Fosterville-style” gold drilling intercepts already identified by previous explorer, Perseverance Mining.
The shallow (less than 70m vertical depth) reverse circulation drilling by Perseverance reported important widths and grades of gold mineralisation, including:
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7m @ 2.37g/t Au from 20m within hole NHRC3.
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2m @ 2.76g/t Au from 17m within hole NHRC9.
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2m @ 3.65g/t Au from 22m within hole NHRC16
Torrens’ Managing Director Steve Shedden said:
“The granting of EL7331 represents a significant milestone for Torrens.
“We now have drill targets ready to go.
Historical drilling results by Perseverance, a predecessor company to today’s Kirkland Lake Gold Limited, the operator of the successful Fosterville Gold Mine, defined a five kilometre highly anomalous gold corridor at Northwood Hill. Those results point to this zone being a really important, yet poorly explored, gold target.”
We believe that the previous drilling results indicate potential for the discovery of economic gold mineralisation at Northwood Hill. The key thing is, in the 1990’s, the exploration focus was on shallow, open pit, gold mining. The Fosterville mine experience tells us that we need to explore below the shallow, oxide gold, zone, and that is just what we plan to do. Success at Northwood Hill would be very exciting.”
Next Steps
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Finalisation of land access and compensation agreements – in progress.
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Engagement of drilling contractor – in progress.
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Planning and execution of drilling program at Northwood Hill – expected to commence in April or May.
