Gold and copper explorer Torrens Mining Limited (ASX: TRN) has commenced a fixed wing airborne magnetic programme over it high priority Northwood Hill Prospect within the central Victorian Mt Piper Project.
Managing Director, Steve Shedden, said the Northwood Hill Prospect sits within Torrens’ EL7331 and is one of several gold Prospects within our broader Mt Piper Project in Central Victoria.
Torrens’ key target in Central Victoria is structurally-controlled gold mineralisation, which typically has only very subtle surface expression,” Mr Shedden said.
“Close-spaced, high-resolution, aeromagnetic data allows us to better define potential drilling targets, especially when combined with geochemistry and boots-on-the ground geological mapping.
“The results of this survey will considerably improve our existing geophysical dataset and will 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.”
- Acquisition of aeromagnetic data – June
- Processing and modelling of aeromagnetic data – June and July
- Integration of geological mapping, geochemical data and drilling results (commencement of drilling expected to be announced shortly) – July to September
- Structural interpretation from aeromagnetic data and geological mapping – July and August
Torrens’ review of the Northwood Hill area (and surrounding tenement package) identified that detailed magnetic data was absent and that a viable interpretation of the structural regime controlling gold mineralisation was not possible from the existing dataset.
The company considered completing an on-ground magnetic survey but preferred the convenience and scale of an airborne survey, as it gave us high resolution data over a large area on a very cost-effective basis.
The survey is expected to be flown within five to seven days, subject to weather. Following the aeromagnetic data acquisition, Torrens geophysical consultants will process and model it, at which point, Torrens’ will then commence a structural interpretation with the aim of identifying gold-controlling structures.
The Mt Piper Project comprises five exploration licences (EL6775, EL7331, EL7337, EL7366 and EL7380) and one exploration licence application (ELA7481), covering some 1609km2, located approximately 75km north of Melbourne, adjacent to the Hume Highway. It is only one hours’ drive by major highway from the state capital of Melbourne and boasts excellent onsite infrastructure.
The Project lies within the productive Central Victorian Goldfields and is centred about 30km SE of Kirkland Lake Gold’s Fosterville Gold Mine and about 1km SE of Mandalay Resources’ Costerfield Gold Mine.
Mineral exploration by previous explorers provides compelling evidence of Fosterville-style mineralisation within the Project area, including drilling results by BHP in the 1980s and Perseverance in the 1990s.
Torrens’ exploration target is disseminated, sulphidic, quartz-poor stockwork bodies that contain gold- antimony mineralisation, similar to those of the Fosterville and Nagambie mines further to the north-west and the north-east. This style of mineralisation is considered to be represented by the historic gold occurrences identified by Perseverance in the 1990s at the Northwood Hill Prospect within EL7331.