Aeris Resources’ exploration program for the Torrens project in South Australia has been approved by the state government.
The Torrens project, a joint venture between Aeris (70 per cent) and Argonaut Resources (30 per cent), is 50km from OZ Minerals’ Carapateena operation and 75km from BHP’s Olympic Dam mine.
Aeris and Argonaut are exploring for iron oxide copper-gold (IOCG) systems in the Stuart Shelf region of SA.
The SA Government’s approval of the Exploration Program for Environment Protection and Rehabilitation (E-PEPR) is the second of three approvals that the JV requires to restart on-ground exploration.
The JV expects to receive heritage approval, the last remaining requirement, in the March 2018 quarter.
Aeris chairman Andre Labuschagne commented: “The granting by the South Australian Government of the E-PEPR is another significant step forward in being able to recommence on-ground exploration activities in 2018 on our highly prospective Torrens project.”
The Torrens project features a magnetic and gravity anomaly with a footprint in excess of 160km2 – a larger footprint than Olympic Dam.
According to Aeris, limited drilling has previously intersected low-grade copper mineralisation associated with strong magnetite and lesser hematite alteration, typical of an IOCG system.