Adelaide, Dec 12, 2006 AEST (ABN Newswire) - Terramin Australia Limited (ASX: TZN) will undertake a new drilling program on South Australia's Fleurieu Peninsula after identifying targets with a similar appearance to the Company's Angas zinc deposit.
Terramin announced that a SA Government grant of $55,000 under the Plan for Accelerating Exploration (PACE) initiative would fund half the drilling cost for a diamond programme to investigate Angas look-alike anomalies in the Harriet Hill prospect, 20 kilometres east of the Angas mine site.
Terramin Executive Chairman, Dr Kevin Moriarty, said there had been no follow-up to drill holes decades ago that had intersected anomalous lead/zinc and intriguingly, ultrabasic volcanics in the Harriet Hill area.
"Terramin geologists recently noted that the pattern of electromagnetic aeromagnetic responses over Angas prospect was duplicated at Harriet Hill and several other prospects within Terramin's 900 square kilometres of tenements," Dr Moriarty said.
"The region is now considered prospective for zinc, copper and possibly nickel deposits and drilling will commence in February. The Government PACE award underscores the potential of the area, since less than half the proposals from across South Australia were successful," he said.
Angas Zine mine makes progress:
The Angas mine is making good progress - tenders have been awarded for site fencing, earthworks (boxcut and tailings facility), and water bores. The mining programme (MARP) is awaiting final approval. Contracts for land acquisition are in the final stages. Waivers have been received for most of the surrounding properties and remaining exempt landholders will not be adversely affected by the project.
Contact
Peter Gill
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: 08 8234 9555
Fax: 08 8234 9566
Mb: 0417 784 059
peter@fieldpr.com.au
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