Do yourself a favour and read the tas' highlights relased...

Do yourself a favour and read the tas' highlights relased yesterday particularly the part with how many assays are awaiting.


FOR PERIOD ENDED 30TH SEPTEMBER 2006
HIGHLIGHTS

• Diamond coring programme at Parkinson Dam targeting gold, silver and base metals completed
with 754.9m drilled – very encouraging sulphide-rich epithermal veining intersected, assays
awaited.

• 2019m RC percussion drilling completed at Parkinson Dam targeting gold and uranium, assays
awaited.

• Tempest EM survey enhances the uranium potential of the Garford palaeochannel with over
200km of untested channels outlined.

• 4512m RAB drilling completed on Central Gawler projects targeting gold and nickel, assays
awaited.

MINERAL EXPLORATION ACTIVITIES
Tasman Resources NL holds a 100% interest in the following exploration projects (see Figures 1 and 2):
• The “Lake Torrens Project” comprising Exploration Licences 2989, 3109, 3123, 3140, 3174,
3175, 3177, 3209, 3254, 3261, 3441, 3449, 3541, 3607 and 3634, and, ELA 399/06 (formerly
2832).
• The “Parkinson Dam Epithermal Gold-Silver Project” (ELs 3102, 3307, 3453 and ELA 289/06).
• The “Central Gawler Gold-Uranium-Nickel Project” (ELs 3306, 3339, 3340, 3341, 3342, 3343,
3344, 3345, 3423, 3532 and ELA 189/06).
• The “Mirrica Project” comprises applications 15642 and 15643 for EPMs in Queensland.
GOLD EXPLORATION
Parkinson Dam Epithermal Gold-Silver Project (Tasman 100%)
Tasman’s 100% owned Parkinson Dam Project is located approximately 60km west of Port Augusta.
The project comprises an extensive area with outcropping epithermal gold-silver mineralised quartz
veins and float.
A total of 23 RC percussion drill holes of varying depths plus a precollar for a core hole were
completed during and after the quarter, totalling 2019m.
This round of drilling at Parkinson Dam, was designed to test a number of epithermal gold-silver
targets, based on:
• follow up of mineralisation previously intersected by Tasman (e.g. 3m downhole at 3.4g/t Au
and 80g/t Ag);
• newly located outcropping gold-silver mineralisation (rock chip samples up to 1.0g/t Au and
15g/t Ag);
• highly anomalous calcrete soil samples; and,
• geological interpretation, including new data from a detailed airborne magnetic survey.
In addition, three deeper diamond core drill hole tails have been drilled at the northern end of a previous
drilling traverse to test for higher-grade extensions to thick, but low-grade lead-zinc ± gold-silver
mineralisation intersected. This mineralisation (with previous intersections of up to 96m at 0.2% Pb and
27m at 0.4% Zn) is believed to be part of the epithermal gold-silver system discovered by Tasman last
year, and may have the potential to yield economic grades of lead and zinc, as well as gold-silver.
A total of 754.9m core drilling in three holes has been completed to the date of this report. The core
from the first hole is described below; the field team has yet to report on the other two holes.
The first hole (PD 30) is located 40m grid north from hole PD 27 (which intersected 96m at 0.2% Pb),
and, like PD 27 is inclined at 60º south (see Figures 1 and 2). PD 30 was drilled with reverse circulation
(RC) percussion drilling to 51m depth, and completed with NQ diamond coring to 416.4m. No assays
are available for the hole at this stage.
Almost the entire hole has intersected a very thick zone (at least 400m down hole) containing variable
amounts of epithermal style quartz-sulphide veining, disseminated sulphides (mostly pyrite and base
metal sulphides, predominantly galena or lead sulphide with minor sphalerite or zinc sulphide) and
associated epithermal-style alteration (chlorite, sericite and carbonates). Overall, the grade of the
mineralisation is expected to be generally similar to previous intersections.
However, a much stronger zone of sulphide-quartz mineralisation was intersected from 251.80m to
256.20m (4.4m downhole). This interval is estimated to contain several percent base metal sulphides, in
particular galena, and is also expected to contain elevated gold and silver values. Within this interval, a
1.5m zone was estimated (visually) to contain up to 15-20% galena. Weaker mineralisation continues
below this sulphide-rich veining to the end of the hole.
Tasman stresses that at this stage no assays are available for this narrow interval nor the remainder of
the hole. The true thickness of the mineralisation, its lateral extent, attitude or potential economic
significance is not known. Assessment of these factors will require detailed analysis and further followup
drilling, as the area remains open to the north, east, west and at depth. The interpreted target area
covers at least 3km2 to the north of PD 30 and remains untested.
Tasman expects to have assay results for the 4.4m zone of interest by early November, and for the rest
of the hole by late November. Assays from the 2019m of RC percussion drilling completed during
September on other targets at Parkinson Dam will also be available in November.
Tasman is very encouraged by the sulphide-enriched epithermal veining in PD 30 and the considerable
potential it highlights, particularly on the northern side of the prospect.
Eyre, Skye and Birdie Gold Prospects (Tasman 100%)
Drill testing at the Eyre, Skye and Birdie Prospects was completed during the quarter.
Eyre is located 7km west of the Alice Springs railway line approximately 85km north of Tarcoola , and
the Skye and Birdie Prospects are about 95km southwest of Coober Pedy.
These prospects were originally drilled by previous explorers. Tasman’s objectives were to both explore
around mineralisation identified earlier, but poorly tested, and to test new anomalies and zones
identified from new work completed by Tasman.
A total of 30 RAB holes totalling 1740m were drilled. Assays are awaited.
URANIUM EXPLORATION
Garford Palaeovalley Uranium Project (Tasman 100%)
Tasman holds tenements covering approximately 1200km2 that cover part of the Garford palaeochannel
on the Gawler Craton 85km southwest of Coober Pedy. The area is prospective for Tertiary
palaeochannel-hosted (roll front-type or redox-related) uranium mineralisation.
During the quarter, Tasman conducted a Tempest airborne electromagnetic survey over the Garford
palaeochannel. Preliminary results have been received from the contractor. The survey has clearly
outlined palaeochannels within the Garford palaeovalley, defining the position and depth of the
channels; Figure 3 shows an image of the interpreted depth to resistive basement – a map of the
palaeochannels.
The preliminary results show the number of channels, their complexity and channel geometry to be
greater than initially expected, thus upgrading the size and prospectivity of uranium targets in the area.
The length of channels seen in the preliminary data in the area is now interpreted to exceed 200km, with
numerous tributaries seen. Final processing of the data is underway, with interpretation of the results
and drill planning to follow during the current quarter.
Furthermore the better definition of the channels will assist planning of follow-up ground exploration
such as aircore drilling and down hole gamma logging as well as help with access and heritage surveys.
Wynbring North Uranium Project (Tasman 100%)
The project area is within EL 3306 on the Gawler Craton and is located approximately 75km northwest
of Tarcoola in South Australia near the Trans-Australia Railway, and is 15km west of the Warrior
Uranium deposit that is located in an adjacent palaeochannel draining the same granitic source rocks as
the Wynbring Channel. Drilling during the 1980’s by a previous explorer identified significant
radiometric anomalies in the palaeochannel, 95% of which remains untested in Tasman’s tenement.
The extent of the palaeochannel, as defined by Tasman’s recent HoistEM survey, within EL3306 at
Wynbring (perhaps up to 40km) represents a sizable uranium exploration target.
Tasman is currently discussing possible joint ventures for this project.
Parkinson Uranium Project (Tasman 100%)
As previously reported, Tasman has located outcropping uranium mineralisation (as fine-grained
uraninite or UO2). This mineralisation was first found by uranium explorer PNC in the mid-1980’s, who
recognised the uranium potential of the area, but did not drill test this occurrence.
The uraninite is located close to a regional unconformity or geological contact, considered a significant
‘ingredient’ in certain uranium exploration models. In addition, nearby there are several airborne
radiometric anomalies, a soil radon anomaly (from PNC’s earlier work) and anomalous surface uranium
geochemical values, all of which are untested.
Tasman drill tested this area with a number of shallow, RC percussion holes, as part of the drilling
programme outlined above; assay results are awaited.
NICKEL EXPLORATION
Sturt Nickel Project (Tasman 100%)
The Sturt project area is within EL 3341 on the Gawler Craton and is located approximately 85km
northwest of Tarcoola in South Australia.
Recent fieldwork by Tasman has located an area of poorly outcropping weathered ultramafic rocks.
which have returned Ni assays up to 1500ppm in surface pisolites and are prospective for nickel
mineralisation.
Tasman completed a series of RAB traverses, testing various aeromagnetic and geological features of
possible ultramafic origin. A total of 2772m of RAB drilling in 69 holes was completed.
Drilling within the Sturt Prospect defined a probable ultramafic belt at least 400m wide and up to 8km
in length. Assays to confirm the ultramafic lithologies identified from weathered RAB chips, nickel and
other pathfinder elements are awaited.
BASE METAL EXPLORATION
Lake Torrens Project – Thrust Prospect (Tasman 100%)
The Thrust Prospect is located 90km northeast of Roxby Downs and lies within the Adelaide
Geosyncline. The prospect is characterised by numerous highly anomalous Deepleach11™ zinc results
that are associated with weak chargeability responses.
A small programme comprising 611m of RAB/RAB hammer percussion drilling was completed to test
the best coincident geochemical and/or geophysical anomalies.
Assays are awaited.
CORPORATE
Negotiations are ongoing with several groups who have approached Tasman with a view to
assessing various tenements for farm-in.
Greg Solomon
Executive Chairman
The interpretations and conclusions reached in this report are based on current geological theory and the best evidence available to the
authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and,
however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken on the
basis of interpretations or conclusions contained in this report will therefore carry an element of risk.
The information in this announcement, insofar as it relates to Mineral Exploration activities, is based on information compiled by
Graham M. Jeffress and Robert N. Smith, who are members of the Australian Institute of Geoscientists, and who have more than five years
experience in the field of activity being reported on. Mr Jeffress and Mr Smith are full-time employees of the company. Mr Jeffress and Mr
Smith have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity
which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves’. Mr Jeffress and Mr Smith consent to the inclusion in the report of the matters
based on their information in the form and context in which it appears.
It should not be assumed that the reported Exploration Results will result, with further exploration, in the definition of a Mineral
Resource.
-30º
133º
-32º
-31º
136º
-30º
-31º
133º 134º
134º 135º 138º
135º
136º
137º
-32º
138º
137º
333333444222
333333000666
333333444555
333333444333
333555333222
111888999///000666
333333444111
333333444555
333333444555
333444222333
333333444444
333444222333
333333444333
333333444000
333333333999
333,,,222666111
333444444999
333,,,111777444
333666333444
333,,,111777777
333,,,111777444
333,,,111000999
333,,,111000999
333,,,222000999
333444555333
222888999///000666
333333000777
333,,,111777555
333,,,111444000
333666000777
333,,,111222333
333,,,111444000
333111000222
222,,,999888999
333999999///000666
333,,,222555444
333555444111
CCChhhhhhhaaaaaaalllllllllllllllllleeeeeeennnnnnnggggggeeeeeeerrrrrrrrr
OOOlllllllllyyyyyyyyymmmpppppppiiiiiiiiiccccccccc DDDaaaaaaammm
WWWoooooooooooooooooommmeeeeeeeeerrrrrrrrraaaaaaaaa
MMMaaaaaarrrrrrrrrrrrrrrrrreeeeeeeeeeee
PPPrrrrrrrrroooooommmiiiiiiiiinnnnnneeeeeennnnnnttttttttt HHHiiiiiiiiillllllllllllllllll
LLLLLLeeeeeeiiiiiiiiigggggghhhhhh CCCrrrrrrrrreeeeeeeeeeeekkkkkkkkk
PPPooooooorrrrrrrrrttttttttt AAAuuuuuuugggggguuuuuuussssssssstttttttttaaaaaaa
TTTaaaaaaaaarrrrrrrrrcccccccccoooooooooooooooooolllllllllaaaaaaaaa
LLLLLLLyyyyyyyyynnnnnnndddddddhhhhhhhuuuuuuurrrrrrrrrsssssssssttttttttt
EL Applications
Granted ELs
Figure 1: SA Tenement Locations
Figure 2: Mirrica Project Location
Figure 3: Garford Palaeovalley - image and contours of interpreted depth to resistive basement; Tasman Tenements in blue outline
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
TASMAN RESOURCES NL
ABN Quarter ended (“current quarter”)
85 009 253 187 30 September 2006
Consolidated statement of cash flows
Cash flows related to operating activities
Current quarter
$A’000
Year to date
(3 months)
$A’000
1.1 Receipts from product sales and related debtors
0 0
1.2 Payments for (a) exploration and evaluation
(b) development
(c) production
(d) administration
(196)
(250)
(196)
(250)
1.3 Dividends received 0 0
1.4 Interest and other items of a similar nature received 5 82
1.5 Interest and other costs of finance paid 0 0
1.6 Income taxes paid – GST Paid
Income Taxes – GST Refunds Received
(25)
28
(25)
28
1.7 Other (provide details if material)- Pace Grants
40 40
Net Operating Cash Flows
(398)
(398)
Cash flows related to investing activities
1.8 Payment for purchases of: (a)prospects
(b)equity investments
(c)other fixed assets
1.9 Proceeds from sale of: (a) prospects
(b)equity investments
(c) other fixed assets
1.10 Loans to other entities
1.11 Loans repaid by other entities
1.12 Other (provide details if material)
Net investing cash flows
0
0
1.13 Total operating and investing cash flows (carried
forward)
(398)
(398)
1.13 Total operating and investing cash flows (brought
forward)
(398)
(398)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. 0 0
1.15 Proceeds from sale of forfeited shares 0 0
1.16 Proceeds from borrowings 0 0
1.17 Repayment of borrowings 0 0
1.18 Dividends paid 0 0
1.19 Other (provide details if material)
Share Issue Costs
0
0
Net financing cash flows
0
0
Net increase (decrease) in cash held
(398)
(398)
1.20 Cash at beginning of quarter/year to date 679 679
1.21 Exchange rate adjustments to item 1.20 0 0
1.22 Cash at end of quarter
281
281
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the
related entities
Current quarter
$A'000
1.23
Aggregate amount of payments to the parties included in item 1.2 108
1.24
Aggregate amount of loans to the parties included in item 1.10 0
1.25
Explanation necessary for an understanding of the transactions
Management Fees, as per agreement, were paid during the quarter to a company of
which Mr GH Solomon and Mr DH Solomon are directors.
Legal Fees paid during the quarter to a firm of which Mr GH Solomon and Mr DH
Solomon are partners.
Bona-fide reimbursement of expenses for the period to 30 September 2006
Directors Fees and Superannuation paid during the period.
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on
consolidated assets and liabilities but did not involve cash flows
Nil
2.2 Details of outlays made by other entities to establish or increase their share in projects in
which the reporting entity has an interest
Not applicable
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available
$A’000
Amount used
$A’000
3.1 Loan facilities
Nil Nil
3.2 Credit standby arrangements
Nil Nil
Estimated cash outflows for next quarter
$A’000
4.1 Exploration and evaluation 650
4.2 Development
Total
650
Subsequent to end of quarter additional capital has been raised to fund part of this expenditure.
Reconciliation of cash
Reconciliation of cash at the end of the quarter
(as shown in the consolidated statement of cash
flows) to the related items in the accounts is as
follows.
Current quarter
$A’000
Previous quarter
$A’000
5.1 Cash on hand and at bank 81 479
5.2 Deposits at call 200 200
5.3 Bank overdraft 0 0
5.4 Other (provide details) 0 0
Total: cash at end of quarter (item 1.22) 281 679
Changes in interests in mining tenements
Tenement
reference
Nature of interest
(note (2))
Interest at
beginning
of quarter
Interest at
end of
quarter
6.1 Interests in mining
tenements relinquished,
reduced or lapsed
6.2 Interests in mining
tenements acquired or
increased
EL 2989
EL 3102
EL 3109
EL 3123
EL 3140
EL 3174
EL 3175
EL 3177
EL 3209
EL 3254
EL 3261
EL 3306
EL 3307
EL 3339
EL 3340
EL 3341
EL 3342
EL 3343
EL 3344
EL 3345
EL 3423
EL 3449
EL 3453
EL 3532
EL 3541
EL 3607
(formerly)
Licence granted (EL 2340)
Licence granted
Licence granted
Licence granted (EL 2507)
Licence granted (EL 2543)
Licence granted
Licence granted
Licence granted
Licence granted (EL 2594)
Licence granted
Licence granted
Licence granted
Licence granted
Licence granted
Licence granted
Licence granted
Licence granted
Licence granted
Licence granted
Licence granted
Licence granted (ELA 111/05)
Licence granted (ELA 272/05)
Licence granted (ELA 339/05)
Licence granted (ELA 258/05)
Licence granted (ELA 777/04)
Licence granted (ELA 685/05)
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
Outstanding Applications:
ELA 131/06, ELA 189/06, ELA 289/06, EPM 15642, EPM 15645
New Applications this quarter and subsequent to the quarter:
ELA 399/06 (formerly EL 2832)
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and
dates.
Total number Number quoted Issue price per
security (see
note 3) (cents)
Amount paid up
per security (see
note 3) (cents)
7.1 Preference
+securities
(description)
NOT
APPLICABLE
7.2 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through returns of
capital, buy-backs,
redemptions
7.3 +Ordinary
securities
102,967,510
102,967,510
7.4 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through returns of
capital, buy-backs
7.5 +Convertible debt
securities
(description)
NOT
APPLICABLE
7.6 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through securities
matured, converted
7.7 Options
200,000
200,000
2,800,000
NIL
NIL
NIL
Exercise price
25 cents
30 cents
20 cents
Expiry date
3 March 2007
3 March 2008
30 August 2009
7.8 Issued during
quarter
2,800,00
NIL
20 cents
30 August 2009
7.9 Exercised during
quarter
NIL
NIL
7.10 Expired during
quarter
NIL
NIL
7.11 Debentures
(totals only)
NOT
APPLICABLE
7.12 Unsecured notes
(totals only)
NOT
APPLICABLE
Compliance statement
1 This statement has been prepared under accounting policies which comply
with accounting standards as defined in the Corporations Act or other
standards acceptable to ASX (see note 4).
2 This statement does give a true and fair view of the matters disclosed.
RAYMOND FRANCIS BUSCALL – COMPANY SECRETARY
Date: 31 October 2006
Notes
1 The quarterly report provides a basis for informing the market how the entity’s
activities have been financed for the past quarter and the effect on its cash
position. An entity wanting to disclose additional information is encouraged to
do so, in a note or notes attached to this report.
2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of
interests in mining tenements acquired, exercised or lapsed during the
reporting period. If the entity is involved in a joint venture agreement and
there are conditions precedent which will change its percentage interest in a
mining tenement, it should disclose the change of percentage interest and
conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities. The issue price and amount paid up is not
required in items 7.1 and 7.3 for fully paid securities.
4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive
Industries and AASB 1026: Statement of Cash Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International
Accounting Standards for foreign entities. If the standards used do not
address a topic, the Australian standard on that topic (if any) must be
complied with.
== == == == ==