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TASMAN RESOURCES LTD — Capital/Financing Update 2010
May 12, 2010
65896_rns_2010-05-12_919f087a-f0fb-4e63-b15b-b00f05b68e9b.pdf
Capital/Financing Update
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ACN 009 253 187
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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT 13[th] May 2010
VULCAN PROJECT (SA): PACE DRILL FUNDING
The directors of Tasman Resources (ASX: TAS) are pleased to announce that its submission to PIRSA[1] for Round 6 PACE[2] funding was successful.
The funding will provide $65,000 towards the cost of a diamond drilling program which has recently commenced at the Company’s 100% owned Vulcan Iron – Oxide Copper Gold Uranium (IOCGU) prospect located 30km north of Olympic Dam (Figure 1) in South Australia.
Tasman announced the discovery of a new IOCGU system at Vulcan after encouraging results from its first drill hole VUD 001 which was completed in November last year. Hole VUD002, the first hole of the planned follow up drilling program, is currently in progress.
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Greg Solomon Executive Chairman
1 South Australian Government Department of Primary Industries and Resources
2 The PACE program (Plan for Accelerating Exploration) is a South Australian Government initiative which preferentially funds high quality, technically and economically sound projects in South Australia that promote Greenfield type exploration targets and new exploration technology. Successful proposals are viewed as the highest quality exploration targets based on sound technical, scientific and commercial criteria.
Level 40, Exchange Plaza 2 The Esplanade, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866 Email: [email protected]
ASX Announcement 13[th] May 2010
Tasman Resources Ltd
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Figure 1: Location Plan showing the Vulcan IOCGU Project, nearby IOCGU deposits/systems and several key (historic) tectonic lineaments (dashed blue lines).