Shree Minerals (ASX:SHH) nets Turondale licence

• Australian diversified mineral explorer and developer Shree Minerals (SHH) has been granted an exploration licence for the Turondale project in NSW
• The project covers nearly 130 square kilometres and is situated in the Lachlan Fold Belt, a geological region home to many copper-gold mines
• Since lodging the exploration licence application in July 2020, Shree has reviewed previous exploration data, geological mapping and surveys to generate initial targets
• The company is working to secure land access agreements with the aim of beginning fieldwork in early 2021
• Shares have been trading 10 per cent higher at 2.2 cents

Shree Minerals (SHH) has been granted an exploration licence for the Turondale Project in New South Wale’s Lachlan Fold Belt.

The 700-kilometre wide belt is made up of deformed Palaeozoic rocks and is well endowed with copper-gold mineralisation. The geological region is home to mines including Newcrest’s Cadia Ridgway, Evolution’s Lake Cowal and Alkane’s Tomingley.

The Turondale Project covers 129.9 square kilometres and abuts tenements held by Krakatoa Resource and Alkane Resource. While the project has been subject to exploration which turned up gold, results were not reported in accordance with the JORC 2012 code.

Since lodging its exploration licence application for the project, its first for land in the Lachlan Fold Belt, Shree has been reviewing previous exploration data, mapping and surveys to generate targets.

The company is working to secure land access agreements with the aim of beginning fieldwork in early 2021.

Initial fieldwork will include geological mapping and stream sediment sampling and will target strike extensions to the south of both the Quartz Ridge and Box Ridge prospects.

Shree will also make exploring near historical workings at Cheshire Creek and Winburndale a priority, citing encouraging historical results reported by Nickel Mines.

Shares have been trading 10 per cent higher at 2.2 cents at 10:16 am AEDT.