The Torrens East Copper Project lies within the Olympic Dam copper-gold province of the Eastern Gawler Craton of central South Australia. More specifically, the project is located within the Torrens IOCG Hinge Zone, which is defined by the distribution of known early-Mesoproterozoic mineralisation and alteration, with the structural framework playing an important role in the formation of large IOCG systems.
The province is host to several world-class IOCG deposits including Olympic Dam and Carrapateena. The Olympic Dam deposit is currently the world’s fourth-largest copper resource and fifth-largest gold resource, and boasts the world’s largest uranium resource.
The Torrens JV (70% Aeris Resources Ltd (ASX:AIS); 30% Argonaut Resources NL (ASX:ARE) lies immediately west of Auroch’s Torrens East Copper Project within the Torrens Hinge Zone of the Olympic Dam copper-gold province. High-resolution aeromagnetic and gravity geophysical surveys within the Torrens JV has identified a coincident magnetic and gravity anomaly similar to, but larger than that of Olympic Dam . The JV intends to commence a drilling programme to test this geophysical target before the end of this year. BHP Group Limited (ASX:BHP) has also been actively exploring for copper in the Olympic Dam copper-gold province. Results announced from their recent drilling programme approximately 50km from Auroch’s Torrens East Copper Project included :
- 425.7m @ 3.04% Cu and 0.59g/t Au, including 180m @ 6.07% Cu and 0.92g/t Au;
- 406m @ 0.66% Cu and 0.35g/t Au;
- 124.5m @ 0.52% Cu and 0.48g/t Au; and
- 77m @ 2.11% Cu and 0.54g/t Au.
Due to the deep overburden and dense nature of the iron-rich rocks that host the IOCG mineralisation in this region, geophysical techniques such as magnetics and gravity surveys are considered the best tools for defining potential drill targets. As such, the Company is currently collating and interpreting all of the historic geological and geophysical data relating to the Torrens East Copper Project in order to design an exploration programme for early 2019 upon granting of the exploration licences.
|Tenement ID||Status||Area (km2)|
|2018/00159||Exploration Licence Application (ELA)||976|
|2018/00163||Exploration Licence Application (ELA)||646|