- Torrens Mining’s reconnaissance rock chip sampling program over the Goldie Prospect has returned high-grade gold results.
- The sampling program was undertaken over an area with a record of historical gold workings.
- Torrens is progressing ahead with its systematic sampling and mapping program over the prospect.
- Results are expected in December 2021 end or early 2022.
Australian explorer Torrens Mining Limited (ASX:TRN) has reported high-grade gold mineralisation from its recently conducted reconnaissance rock chip sampling program over the Goldie Prospect. The prospect is part of the Company’s 100%-owned Mt Piper Gold Project in Central Victoria.
Of the 13 samples collected from the prospect, seven delivered high-grade gold results.
Map showing locations of rock chip collection (Image source: Company update, 24 November 2021)
Image & data source: Company update, 24 November 2021
The soil sampling program undertaken by the Company has identified a pronounced gold-in-soil anomaly over the Goldie Prospect. The anomaly lies along a previously unexplored trend of highly magnetic rocks.
Data source: Company update, 24 November 2021
Rock chip sampling program
The rock chip sampling program was undertaken across historical gold workings over the prospect. The historical workings extend over a strike length of approximately 1.2km.
Torrens’ field team observed that the shallow historical gold workings were concentrated over a strike length of 120m. Multiple shallow parallel quartz veins had been tested over the 120m length by previous prospectors.
Torrens’ interpretation for the thickness and dip of the quartz veins indicates that they may dip to the west as there are deeper shafts in the west. The quartz veins are present at surface and hence show evidence of hand sorting and stockpiling for future processing.
The gold mineralisation, as believed by Torrens, is associated with stylolites with elevated tungsten and arsenic observed in places.
The aeromagnetic signatures over the prospect indicate the interlayering of highly magnetic units with non-magnetic sedimentary rocks. The behaviour is similar to what has been observed to the north of the Mt Piper Tenement (east of Fosterville Mine) along the Mount William/Heathcote Fault. In this region, basalts are found interlayered with black shales and sedimentary units.
Mt Piper Gold Project showing Goldie Prospect overlaying project magnetics
(Image source: Company update, 24 November 2021)
- Torrens is advancing with systematic sampling and mapping to determine the size and scale of the gold anomaly over the Goldie Prospect.
- Results of the sampling and mapping program are expected in December 2021 and January 2022.
- Drilling over the potential anomalies may commence in late 2021 or in the first quarter of 2022.
TRN closed the day’s trade at AU$0.15 with a market capitalisation of AU$17.2 million as of 24 November 2021.