Tara

Target: Tin
Tenements: EL 6532

Location: 12km north east of Hillston in central NSW (between Young and Griffith)

Background:

Recent detailed analysis of high-resolution resistively profiles over the main prospect area has identified a network of concealed alluvial channels at the base of the cover sequence, some of which may be associated with alluvial tin derived from the mineralised basement. There is a very strong correlation between resistivity and the sediment type encountered in drilling, enabling a high-precision interpretation of the subsurface over the area covered by the resistivity survey down to the top of the highly weathered saprolite or overlying silt where it is present.

Resource:

Five holes have sampled an ancient river channel. Drill hole T3 is the best sited hole to sample the deeper parts of the river channel system and this hole assayed 1% tin over a metre interval at 63m, in what are now interpreted to be coarse gravels at the base of the river channel. Lower but still significant tin values were recorded higher up this hole in the upper parts of the river channel. The tin intercepted in T3 indicates that placer tin, derived from weathering and cassiterite concentration from the underlying tin mineralised bedrock, may be found in the old river channels.

A placer such as this occurred at Gibsonvale, 100km east of Tara. Here weathering of tin mineralised bedrock concentrated cassiterite in an old stream channel that was subsequently covered by over 35m of younger sediment, and yielded over 7000 tonnes of cassiterite concentrate up until 1980.

Geology/Geophysics:

The prospect is “under cover”; at the surface is flat, blacksoil plain. The prospect is defined by a set of geophysical anomalies, which reflect a 4 x 2km zone in the bedrock that is altered and mineralised, with tin (cassiterite) in narrow quartz veins. In a recent reinterpretation of the geophysical and drilling data Icon recognised that the deeply weathered bedrock occurs at a depth of up to 65m and is overlain by ancient river channels filled with sand, gravel and clay, in turn covered by around 15m of the modern surface.

Forward Program:

Icon's next drilling at Tara is due to commence in late January, and will test the old river channels defined by Icon's resistivity survey data for placer tin. The extent of the channels (resistivity data indicate that there is more than one channel is unknown but within the area covered by Icon's resistivity survey the channels extend for 3km in a north south direction. The bedrock mineralisation remains prospective for high grade vein type tin deposits.