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- Shree Minerals (SHH) is undergoing a review of previous exploration data at the Turondale Project in New South Wales
- At the end of July, Shree submitted an application to acquire the tenement comprising the project and is waiting for this to be granted
- Encouragingly, the project lies within the prolific East Lachlan Fold Belt
- Historic sampling has also shown values of 2.6g/t gold, 3700 parts per million copper and 5000 parts per million lead
- Shree will continue compiling data ahead of planned exploration and drilling
- Company shares are up 6.67 per cent and are trading for 1.6 cents
Shree Minerals (SHH) is undergoing a review of previous exploration data at the Turondale Project in New South Wales.
At the end of July, Shree submitted an application to acquire the ELA6044 tenement which comprises the Turondale Project.
Since then, the company has been reviewing previous exploration data to guide fieldwork activities once the application is approved.
The Turondale Project covers a 129.9-square kilometre area within the East Lachlan Fold Belt. This belt has historically produced 80 million ounces of gold, 13 million tonnes of copper as well as significant amounts of zinc, lead, silver and tin.
The East Lachlan Fold Belt is known to host Alkane Resources’ Tomingley Gold Mine and Boda discovery, Newcrest Mining’s Cadia Mine and Evolution Mining’s Lake Cowal Gold Mine.
Turondale has the potential to host shallow high-grade gold and also has a similar litho-structural setting to the nearby Hill End Goldfield where Peak Minerals has reported a mineral resource of 4.68 million tonnes at 3.3g/t gold.
The project is also bounded the prospective tenements held by Krakatoa and Alkane.
Importantly, previous soil and stream sampling conducted by Nickel Mines in the early 1970s confirmed values of up to 2.6g/t gold, 3700 parts per million copper and 5000 parts per million lead.
Shree Minerals will continue to compile exploration data, as well as geological mapping and surveys to identify new targets.
Company shares are up 6.67 per cent and are trading for 1.6 cents at 2:11 pm AEST.
