South Gawler Ranges Project
- The South Gawler Ranges Project (SGRP) is located on the southern margin of the Gawler Ranges in the northern Eyre Peninsula, South Australia.
- Approximately:
- 100 km west of Port Augusta
- 185 km southwest of OZ Minerals’ Carrapeteena Copper-Gold Mine (which hosts 950 Mt @ 0.75% Cu and 0.25 g/t Au).
Tenement Information
- Comprises 11 Exploration Licences with a total area of 4,524 km².
- All licences are held by Menninnie Metals Pty Ltd (MMPL), a wholly owned subsidiary of Terramin.
Exploration Agreement with JOGMEC
- March 2022: Exploration agreement signed with Japan Organization for Metals and Energy Security (JOGMEC).
- Earn-in Option Terms: JOGMEC can earn an option to purchase a 70% interest by spending $7.5 million over 6 years.
- Purchase Option:
- After earning 70%, JOGMEC can acquire an additional 6% interest for $3.0 million.
- This would grant JOGMEC a total of 76% interest, and include a 0.5% Net Smelter Return (NSR) royalty to Terramin.
- Terramin would retain up to 24% interest in the project.
- To date, JOGMEC have spent $3.5 million and have earned an option to purchase 50.1% interest.
Exploration Potential
- Underexplored and highly prospective multi-commodity asset.
- Potential for multiple deposit types, including:
- Iron Oxide Copper Gold (IOCG) mineralisation.
- Epithermal silver-lead-zinc (Ag-Pb-Zn) deposits.
- Tin-tungsten and copper-gold skarns.
- Potential porphyry systems.
Key Deposits: Menninnie Dam & Viper
- Hosts a JORC 2004-compliant Inferred Resource:
- 7.7 Mt at 5.7% Zn+Pb and 27 g/t Ag.
- Reported at a 2.5% Zn+Pb cut-off.
- Mineralisation remains open at depth and along strike.
Exploration Indicators
- Outcropping hematite-rich and hydrothermal breccias similar to those at Olympic Dam IOCG deposit.
Figure 1. South Gawler Ranges Project (SGRP) location and tenements.
