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PTR MINERALS LTD — Capital/Financing Update 2023
Mar 29, 2023
65621_rns_2023-03-29_3ae8dd50-1b51-41ed-9f68-84251aebaebc.pdf
Capital/Financing Update
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PETRATHERM LIMITED
ACN 106 806 884 ASX: PTR
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ASX ANNOUNCEMENT
30 March 2023
Petratherm Secures ‘The Pines’ Copper-Gold Project, Olympic Domain, South Australia
Petratherm Limited (ASX: PTR) is pleased to announce it has secured ELA 2023/00015 (‘The Pines’) located in the world-class copper-gold ‘Olympic Province’ of South Australia. The tenement covers 210 km[2] adjacent to PTR’s Woomera Copper-Gold Project (PTR ASX release 04/04/22) strengthening the Company’s ground position in the region (now 683 km[2] ). The district is highly endowed in copper-gold discoveries including OZ Minerals’ newly operating world-class Carrapateena deposit, BHP’s Oak Dam West and Coda Mineral’s Elizabeth Creek and recent Emmie Bluff Deeps Discoveries (Figure 1).
Iron-Oxide Copper-Gold (IOCG) style mineralisation is best targeted using gravity surveys as the iron-hosted ores are denser than surrounding rock producing discrete local gravity highs. ‘The Pines’ is one of the last areas in the region yet to be systematically tested with gravity surveys. It is expected that the Tenement may be offered for grant in approximately 3 months’ time and IOCG gravity targeting work will then get underway.
PTR is planning to undertake a large regional gravity survey over its neighbouring Arcoona Tenement (EL6854) with further details to be provided once the survey starts. This ASX announcement has been authorised for release by the Board of Petratherm Ltd.
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----- Start of picture text ----- Woomera – DefenceContinuous Use ZoneEL 6707‘The Pines’EL 6854----- End of picture text -----
Figure 1 PTR’s Woomera Project, Major IOCG Occurrences and Copper and Gold Prospects
For further information: Peter Reid (Chief Executive Officer) T: 0435 181 705 E: [email protected]
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