Tasman Resources (ASX:TAS) has completed the sixth drill hole as part of its joint venture /farm in agreement with Rio Tinto Exploration (RTX) at its wholly owned Vulcan iron oxide copper gold uranium project in South Australia.
The hole VUD014 was designed to test for high grade IOCGU mineralisation along the well- defined east north-eastern limb of the Vulcan target.
A previous hole drilled 700 metres further to the north-east along this feature had intersected 163 metres of low grade IOCGU mineralisation hosted by IOCGU-style hematite rich breccias.
The current hole was designed to test the feature, but in a potentially higher grade location.
The latest hole was collared about 400 metres to the northwest of the zone of interest and inclined at around 65 degree to the south-east.
It was completed at 1,488 metres and intersected 573 metres of variably altered and weakly mineralised rocks.
Due to the width of the target in this area, it was not possible to thoroughly test it with one inclined hole, and at this stage it is believed that the hole may have gone over the top of the zone of interest.
It is now understood that a steeper or vertical hole collared a distance to the southeast may have been more successful.
The next hole VUD 015 started on 15 May and is being drilled on the northern section of the Vulcan target.
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