Torrington (EL 7800) is considered highly prospective for tin with numerous known occurrences of mineralisation, and recorded mining activities dating back to 1882. A number of the more advance projects include McDonalds Zone, Poverty Point, Emerald and Big Plant Creek.
The southwest corner of EL 7800 is referred to as the East Grampians Corridor (refer to the figure below) and hosts a number of targets, including, McDonalds Zone, Poverty Point, Emerald and Big Plant Creek. The geology and mineralisation of these target zones is similar to Taronga. These targets were generated by exploration in the mid 1980’s but have not been systematically tested by drilling, including the McDonalds and Emerald zones. These two targets are situated at the contact of the tin-bearing Mole Granite with hornfelsed host sediments, a very favourable position to host tin mineralisation. YTC found tin values of 0.23 percent and 1.93 percent tin in rock chip samples at McDonalds.
East Grampians Corridor
Taronga has recently conducted a program of exploration on the McDonald’s zone target in the Torrington area. The work, comprising grid soil sampling, Induced Polarisation-Resisitivity geophysics and detailed ground gravity geophysics, has confirmed McDonald’s zone as a viable target for Taronga-style tin mineralisation. Coincidence of Induced Polarisation anomalies with geochemical anomalies (tin-in-soil values peaking above 1200 parts per million (ppm) tin) have defined a high priority drill target within the south-western portion of the 3000 metre by 1000 metre gridded area.
The main anomaly so defined, a 700 metre by 150 metre target is one of three anomalies within the McDonald’s target that are within the plus 400 ppm tin contour limits.
Accordingly, Taronga has only recently confirmed the earlier work by EZ Industries at McDonalds in the early 1980’s. This provides confidence that similar tin-in-soil anomalies generated by the same explorer at other targets in the East Grampians Corridor (Emerald Zone, Big Plant Creek and Poverty Point) will also be confirmed as genuine targets for more Taronga-style tin mineralisation.
The Torrington Exploration Licences also contain numerous historic lode tin workings where high-grade tin occurs in discreet, multiple, quartz lodes. Very little drilling has been done to test these historic quartz lodes, however YTC did obtain some significant tin intercepts in the area of the old ‘Harts’ and ‘Dutchmans’ lodes with 0.8 metres at 3.64 percent tin and 1.0 metre at 1.23 percent tin. In other drilling, at the ‘Planet’ lode, YTC achieved results of 1.0 metre at 1.75 percent tin, 25 metres at 0.21 percent tin plus 0.12 percent copper.
In the period between November 2010 and April 2012, Taronga conducted extensive low impact investigations on theTorrington Exploration Licences including geochemical soil sampling, Induced Polarisation (IP) and Gravity geophysical surveys.
The McDonalds Prospect is an advanced exploration target that could provide a large tonnage, Life of Mine extensional target for the Taronga Tin Project.
The McDonalds Prospect is located approximately 6km NW of the Taronga Tin Project within the Company’s wholly owned exploration licence EL7800. Mineralisation at McDonalds comprises various zones of sheeted quartz veining and greisen over a strike length of approximately 2km and up to 500m wide. Historical mining activities are limited to shallow shafts and trenches targeting high grade tin-toumaline-quartz veins.
The Company recently announced the results of the maiden drilling program, with notable intersections including 22m @ 0.19%Sn from surface (including 5m @ 0.16%Sn from surface; 5m @ 0.58%Sn from 12m); 4m @ 0.64%Sn from 48m (including 1m @ 1.38%Sn from 48m and 1m @ 1.04%Sn from 51m); and 4m @ 0.46%Sn from 57m.
Two types of mineralisation have been identified as a result of the drilling, the first being the cassiterite / sulphide-related system typical of the sheeted vein systems (similar to the Taronga Tin Project) plus a greisenisation style of alternation, manifest as primarily tourmaline and sometimes with chlorite. The results for the greisen zone are particularly encouraging and present a large volume target containing high-grade zones.
Dutchman & Harts Prospect
The Dutchman & Harts Prospect is a historical underground mine that could provide a high grade supplementary feed target for the Taronga Tin Project.
The Dutchman & Harts prospect is located 17 NE of the Taronga Tin Project and is contained within the Company’s wholly owned exploration licence EL7800. Extensive historical underground mining exploited approximately 60,000 tonnes at a grade of 3.5%Sn from a number of sub-vertical quartz-chlorite-sericite-cassiterite lodes via underground operations to a depth of 246m periodically between 1875 and 1953. During the 1960s, rehabilitation of the historic workings and subsequent exploration was undertaken by various parties including Carpentaria Exploration Pty Ltd (part of Mount Isa Mines), BHP, Mobile Alluvial Tin Pty Ltd and North Broken Hill Ltd (NBH). In 1967 NBH undertook a feasibility study on Dutchman & Harts in conjunction other projects in the area and concluded that mining operations would be feasible.
More recently (2006 to 2010) YTC Resources Ltd completed various exploration activities including a program of five diamond drilling holes with the highest reported result being 0.8m at 3.6%Sn (HD04 from 40.7m) and 1.0m @ 1.23%Sn (HD04 from 60m). These results confirm the high grade nature of the mineralisation and are consistent with the grade historically reported.
Based on the feasibility study completed by NBH and an assessment of potential strike extension at Dutchman & Harts, the Company has internally generated an Exploration Target of approximately 122,000 to 197,000 tonnes and approximately 2.2 to 2.4%Sn. It should be noted that the potential grade and tonnage is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.