Offset Conductive Target at Titan West Raises Exploration Risks Ahead of Drilling

Exploration Breakthrough at Titan West

Tasman Resources Ltd (ASX, TAS) has announced promising results from a recent magnetotelluric (MT) survey conducted over its Titan West prospect, part of the Lake Torrens IOCG project in South Australia. The survey, commissioned by Fortescue Ltd’s subsidiary FMG Resources, has identified a significant conductive body extending deep into the basement rocks, a finding that could mark a pivotal step in the exploration of this underexplored region.

The MT data interpretation, completed by Vox Geophysics, suggests two possible models, either a conductor reaching approximately 1,000 metres depth starting around 620 metres below surface, or a more extensive conductive body with low resistivity extending to depths of 2 to 3 kilometres. This deep conductor is spatially aligned with a dense gravity anomaly previously modelled, hinting at the presence of sulfide-rich lithologies; key indicators for economically viable mineralisation.

Context and Historical Drilling

The Titan West prospect lies roughly 35 kilometres north of the world-class Olympic Dam deposit, a prolific Iron-Oxide Copper-Gold (IOCG) system. Despite its proximity, Titan West has seen limited drilling, with only one historic hole (BD2) drilled in 1981 by Western Mining Corporation. Notably, this drillhole missed the peak of the gravity anomaly by about 500 metres, underscoring the importance of the new geophysical data in refining target locations.

The geological setting includes mafic and ultramafic basement rocks with potassic alteration and minor sulphides, consistent with IOCG-style mineralisation. The Titan East prospect, nearby, has been more extensively drilled but has only returned low-grade copper mineralisation to date.

Fortescue’s Planned Drilling Campaign

Encouraged by the MT survey results, Fortescue has committed to a drilling program at Titan West scheduled for calendar year 2026. This initiative aims to test the newly identified deep conductor and its correlation with the gravity anomaly, potentially unlocking a new IOCG discovery. The drill program will be critical in validating the geophysical models and assessing the mineralisation potential of this target.

The survey itself was comprehensive, involving 179 broadband MT stations across the Titan and Bill’s Lookout prospects, with detailed 3D inversion modelling providing a high-resolution image of subsurface conductivity and density contrasts. The collaboration between Tasman, Fortescue, and specialist contractors like Vox and Zonge Geophysics highlights the technical sophistication underpinning this exploration phase.

Looking Ahead

While the MT survey results are encouraging, they remain probabilistic and require confirmation through drilling. The offset between the conductor and historic drillhole BD2 means previous sampling did not effectively test this target. The upcoming drill program will therefore be closely watched by investors and analysts eager to see if Titan West can emerge as a significant new IOCG discovery in a region already renowned for its mineral wealth.