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Torrens Mining (ASX:TRN) kicks off aeromagnetic survey over Mt Piper gold project

Summary

  • Torrens Mining has commenced a fixed-wing aeromagnetic survey over the high priority Northwood Hill Gold prospect of the Mt Piper Gold Project.
  • The explorer has engaged MAGSPEC Airborne Surveys to cover a 3,922 line-km survey with 50m line spacings at an average height of 40m.
  • The data from the airborne survey will be used for structural interpretation and identification of drill targets over the prospect.
  • Mt Piper Gold Project covers an area of over 1,600km2 in the prolific Central Victoria region.

Australia-focused gold and copper explorer Torrens Mining Limited (ASX:TRN) has commenced an airborne magnetic survey on the high-priority Northwood Hill prospect of the Mt Piper Gold Project in Central Victoria.

MAGSPEC Airborne Surveys, which is a high-resolution and ultra-detailed airborne geophysical survey company, has been engaged to carry out the fixed-wing aeromagnetic programme over the prospect area to capture the magnetic anomaly data. 

Good Read: Torrens Mining Limited (ASX:TRN): Diversified Gold & Copper Player with Three Exploration Projects Underway

Airborne magnetic survey

Magnetic anomaly data plays a crucial role in the interpretation of the structural regime controlling mineralisation. Northwood Hill does not have a detailed magnetic dataset yet, and Torrens is going to have one soon.

Airborne survey is a convenient and cost-effective means of getting high-resolution data over a large area. In an area as large as the Northwood Hill prospect, the survey will be completed in 5-7 days, if the weather remains favourable. The aircraft needs to conduct a 3,922 line-km survey along 50m line spacings, at an approximate height of 40m.

Proposed area for airborne survey (Image source: Company update, 4 June 2021)

Having collected the aeromagnetic data, the geophysical team of Torrens will process it for creating a model, which will be used for structural interpretation and identification of drilling targets on the prospect area.

The Northwood Hill prospect lies within exploration licence EL7331 of the Mt Piper Project. The project has a large tenement area spread over 1,609km2, and includes five ELs – EL6775, EL7331, EL7337, EL7366 and EL7380. There is also one exploration licence application, ELA7481 within the Project area.

The historical drilling results by BHP and Perseverance during 1980s and 1990s, respectively, indicate the presence of Fosterville-style mineralisation within the project area. The Fosterville Gold Mine is located nearly 30km from Mt Piper.

The Northwood Hill prospect is believed to potentially host gold-antimony mineralisation in disseminated, sulphidic, quartz-poor stockwork bodies, as represented by the historical gold occurrences recorded by the previous explorers.

Mt Piper Project with regional peers (Image source: Company update, 3 June 2021)

Torrens’ Managing Director Steve Shedden highlighted that besides identifying drilling targets, the high-resolution and closed spaced aeromagnetic data will improve the understanding of the structural regime.

The aeromagnetic data combined with geochemistry and geological mapping data will help in defining the drilling targets.

He added: “The results of this survey will considerably improve our existing geophysical dataset and dramatically improve our understanding of the structural regime at Northwood Hill and Whitehead Creek.”

“Without doubt, developing a structural model in tandem with new in-ground drilling data will exponentially improve our chances of success, and with drilling about to commence, Torrens is at the starting gate in anticipation of an exciting gold discovery journey.”  

Next steps

The aeromagnetic data will be acquired within the next 5-7 days, after which the company will focus on the following areas:

  • Processing and modelling of the aeromagnetic data. The process will take nearly 2 months and will be completed by the end of July.
  • Commencement of a drilling campaign at the Northwood Hill prospect. The drilling results will be combined with geological mapping and geochemical data for a better understanding of the mineralisation structure. The work is planned during June-September this year.
  • The geophysical consultants of Torrens have reserved July and August to undertake the structural interpretation work using the aeromagnetic and geological mapping data.

Share price

The shares of TRN were trading at AU$0.155 midday with a market cap of AU$17.58 million as of 4 June 2021.

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