Six New Drill Targets Defined by Tasman’s Advanced Geophysical Survey at Parkinson Dam
Tasman Resources has identified six promising drill targets at its Parkinson Dam gold project in South Australia, supported by advanced geophysical analysis and a new high-resolution gravity survey. The company also highlights ongoing investment in Eden Innovations and strategic funding moves.
- Six drill targets identified at Parkinson Dam via proprietary Automatic Curve Matching technology
- New high-resolution gravity survey enhances target definition and drill planning
- Proposed drillholes to test IOCG, epithermal, and porphyry mineralisation pathways
- Tasman holds a significant stake in Eden Innovations, supporting ongoing working capital
- Loan facilities and capital raising efforts underpin funding for exploration activities
Advanced Geophysical Techniques Highlight New Targets
Tasman Resources Ltd (ASX: TAS) has made significant strides in its Parkinson Dam project in South Australia, unveiling six drill targets identified through a sophisticated geophysical review conducted by Archimedes Consulting Pty Ltd. Utilizing their proprietary Automatic Curve Matching (ACM) technology, the team analyzed detailed aeromagnetic and newly acquired high-resolution gravity data to delineate pipe-like features indicative of potential mineralisation.
The initial Project 1 review in June 2024 identified five magnetic targets (T1 to T5) associated with epithermal and hydrothermal gold-silver-lead-zinc mineralisation pathways, reminiscent of intrusion-related breccia systems like Havieron. However, the limited resolution of earlier gravity data constrained interpretation.
Enhanced Gravity Survey Unlocks Sixth Target
Responding to these limitations, Tasman commissioned a close-spaced 200m x 200m gravity survey in September 2024. The subsequent Project 2 analysis integrated this new gravity data with prior IP, resistivity, and magnetic datasets, refining the spatial understanding of the targets and revealing a sixth drill target, T2(b). This newly identified gravity anomaly lies beneath historic high-grade gold and silver intercepts from drillhole PD63, which previously returned impressive grades including 21m at 21g/t Au and 83g/t Ag.
The ACM interpretations suggest these targets represent ascending porphyry bodies or hydrothermal fluid conduits, with magnetic and gravity signatures consistent with IOCG, epithermal, and porphyry mineralisation styles. Notably, Target T1 is a substantial undrilled pipe-like IOCG feature extending over 5km depth, while Targets T2(a) and T2(b) are interpreted as hydrothermal feeders and porphyry intrusions respectively.
Drill Plans and Exploration Outlook
Tasman proposes a series of drillholes to test these compelling targets, including a 350m angled hole at T1, vertical holes to 400m and 700m depths at T2(a) and T2(b), and additional vertical holes at Targets T3, T4, and T5 ranging from 200m to 350m depth. These drilling campaigns aim to validate the geophysical models and potentially delineate mineral resources akin to nearby Havieron-style deposits.
Strategic Investment and Financial Position
Beyond exploration, Tasman maintains a significant 33.9% stake in Eden Innovations Ltd (ASX: EDE), supporting its growth through additional loan funding during the quarter. Eden's US market traction with its OptiBlend® Dual Fuel System and EdenCrete® products across North America, India, and South Africa underscores the strategic value of this investment.
Financially, Tasman reported operating costs of $102,000 for the quarter, with no mining production activities. The company sold its Conico Ltd shares to bolster funds for Parkinson Dam exploration and secured loan facilities totaling $6.6 million from major shareholders to support ongoing operations. While cash reserves excluding Eden's holdings are limited, Tasman is actively pursuing capital raising to sustain its exploration ambitions.
Broader Regional Exploration
In parallel, Tasman's joint venture at the Lake Torrens IOCG project, managed by Fortescue Ltd, continues with geophysical surveys including magnetotelluric (MT) data acquisition aimed at refining subsurface conductivity models. These efforts complement Tasman's broader strategy to leverage advanced geophysical techniques across its South Australian tenements.
Bottom Line?
Tasman’s integration of cutting-edge geophysics with targeted drilling plans positions Parkinson Dam as a project to watch, though success hinges on upcoming drill results and capital availability.
Questions in the middle?
- Will the proposed drillholes at Parkinson Dam confirm the presence of economically viable mineralisation?
- How will Tasman balance exploration funding with its investment in Eden Innovations amid tight cash reserves?
- What impact will Fortescue’s ongoing work at Lake Torrens have on Tasman’s joint venture prospects?
