Tasman Resources now has the regulatory green light for drilling at both Titan West and Parkinson Dam, but record rainfall has delayed its Fortescue-led Lake Torrens campaign. The explorer ended September with $5.4 million in cash and no debt, giving it reported funding capacity while it moves toward two separate drilling programs.
- Approvals secured for Titan West and Parkinson Dam drilling
- Record rainfall and waterlogged ground delay Titan West site access
- Fortescue plans up to two diamond holes beneath 650 metres of cover
- Parkinson Dam program targets up to 20 holes across copper, gold, silver, lead and zinc targets
- $5.385 million cash, no debt and an estimated 19 quarters of funding
Two drilling programs clear the regulatory path
Tasman Resources Ltd (ASX:TAS) has removed the main approval barrier to its South Australian exploration plans, with permits now in place for drilling at both its Lake Torrens joint venture and 100%-owned Parkinson Dam project. The more immediate complication is physical rather than regulatory: heavy rainfall has left access roads and ground conditions unsuitable for the Fortescue-led Titan West campaign.
At Titan West, Fortescue Ltd (ASX:FMG) holds a 51% interest and manages the joint venture, while Tasman retains 49%. Fortescue has confirmed McKay Drilling as contractor and plans up to two diamond holes to test gravity and magnetic anomalies in basement rocks beneath about 650 metres of cover. The program will use reverse-circulation pre-collars before diamond drilling, with the proposed holes expected to reach the basement targets vertically.
The timetable has slipped after lengthy government approvals and what Tasman described as record rainfall almost every month since February. Site reconnaissance and preparation are expected to resume in the December 2026 quarter, but drilling remains dependent on ground access, landholder consultation and rig availability. The company had previously outlined the wrong; no, cannot HTML links. Need exact marker. Let's continue correctly.
Bottom Line?
The approvals are now secured, but the next value-defining milestones are physical: site access, contractor mobilisation and assay results from two deep Titan West holes and up to 20 Parkinson Dam holes.
Questions in the middle?
- When will weather and access conditions allow Titan West earthworks and drilling to begin?
- When will Tasman finalise contractors and publish a Parkinson Dam drilling timetable?
- Will the planned holes identify mineralisation capable of supporting a resource, or simply refine the exploration targets?