Ann: Lake Torrens IOCG Project - Drilling Recommences, page-2

ACN 009 253 187
Level 15, 197 St George’s Terrace, Perth, Western Australia 6000
Telephone: (08) 9282 5889
Email: [email protected]

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
29 October 2021
Lake Torrens IOCG* Project – Drilling Recommences Tasman Resources Ltd (ASX:TAS) is pleased to advise that drilling on the Lake Torrens IOCG
Project (EL6416) has recommenced. The project is currently held 100% by Tasman and FMG
Resources Ltd, a subsidiary of Fortescue Metals Group Ltd (ASX:FMG “Fortescue” is in the
process of earning an interest pursuant to the terms of a Farm In and Joint Venture Agreement
(refer TAS:ASX Announcement 14 June 2019).

In this second drilling program Fortescue proposes to re-enter and wedge off previous Tasman
drill collars VUD011 and VUD012 (refer Figure 2) followed by a cycle of navigational drilling
across the major southern gravity targets. Each wedge hole will commence a short distance above
the basement contact and is intended to traverse the southern gravity target and test the new gravity
features arising from Fortescue’s infill gravity surveying, shown within the white ellipse in Figure

ASX Announcement: 29 October 2021


The drilling program has now commenced, initially with one wedge drilling to the south off
VUD011 from around 700m depth with an additional wedge to be drilled to the west. These will
be followed by a single wedge drilled to the west from VUD012 at around 750m depth.
Tasman has previously reported wide zones of copper mineralisation in both VUD011 and 012
including 517m downhole at 0.15% Cu in VUD012 from 820m. The holes were also anomalous
in gold, rare earth elements and palladium