Club Terrace Copper-Gold Project

Overview

The Club Terrace Project comprises:

Two granted exploration licences - EL5455, known as “Buldah” and EL9238 known as “Craigie”, and
Two exploration licence applications ELA7342 known as “Club Terrace” and ELA7584 known as “Lockup”

The Club Terrace Project covers an area totalling 751 km², in Eastern Victoria and Southern NSW. The tenements are situated mostly within forestry land, immediately abutting the New South Wales-Victoria border and near the small settlements of Club Terrace and Buldah.

The area is readily accessed via the sealed Cann River Highway thence by numerous roads and tracks. The Eastern Gas Pipeline and an all-weather access road passes through the north-eastern sector of the Project area.

The Project covers much of the regional-scale Combienbar Fault and its numerous associated splay faults, including the Buldah Shear Zone. There are numerous mines and prospects, including the Club Terrace Gold Field, the Boulder Gold Mine, the Boulder Flat Lead-Zinc Prospect, and there is widespread alluvial gold. Previous exploration has defined highly anomalous polymetallic chemical stream sediment anomalies, particularly on the Buldah Shear Zone.

The Company’s objective is to discover one or more standalone gold and/or base metal resources. The Project is located within State Forest, much of which has previously been harvested for timber.

Previous Exploration

Between 2006 and 2012, the Project area was explored by Oroya Mining Limited, which focused on the mineral potential along the regional-scale Combienbar Fault zone. Initial drainage geochemical sampling along the Buldah Shear Zone defined large copper, zinc and gold anomalous zones, along with other anomalous metals.

Oroya’s work constitutes the most regionally-extensive modern work on these properties up to the present, while Torrens’ exploration since 2012 focussed more specifically within EL5455.

In 2009 Independence Group NL, as part of a joint venture with Oroya, conducted geochemical grid soil sampling over an area of approximately 7km² in two phases on the Buldah Shear Zone.

Zones of gold, lead, zinc, silver, copper, arsenic, molybdenum, bismuth and antimony anomalism were defined. These anomalies are spatially associated with the regional-scale, sulphide-mineralised and quartz-veined Buldah Shear Zone.

Independence Group, however, withdrew from the Project without conducting any drilling to test the geochemical anomalism delineated by the sampling.

Earlier exploration by other companies extended only into the southern-most part of EL5455. This exploration was largely driven by reports of gold mineralisation in the Buldah Shear Zone. The Granite Creek prospect, just to the south of EL5455, was drill tested in the 1980s. A silicified, strongly pyritic (5-10% pyrite over 25 metres width) shear zone was intersected, however with only trace gold reported.

Planned Exploration

The field evidence points to a high certainty that the drainage and soil geochemical anomalies are directly related to the Combienbar Fault and its associated splay structures. The principal exploration target is economically significant tonnages of sulphidic, structurally-controlled, polymetallic mineralisation. Significant lead and zinc mineralisation also remain strategic targets.

Torrens is conducting exploration in Buldah EL5455 and plans to expand operations into Club Terrace ELA7342. With the known association of sulphides with gold and also lead-zinc mineralisation throughout the Combienbar Fault mineralisation system, a major airborne geophysical survey is under consideration, to follow-up previous geochemical surveying and geological mapping, and to define drilling targets.