Tartana Minerals Limited (ASX: TAT) Reports Maiden Inferred Gold Resource for Cardross Project
Tartana Minerals Limited (ASX: TAT) has reported a maiden Inferred Mineral Resource Estimate for its Cardross Gold Copper Project, establishing 502,323 ounces of gold at a grade of 0.31 g/t Au from 50.4 million tonnes at a 0.1 g/t Au cutoff. This noteworthy development positions the company as a key holder of Cardross gold resources within Queensland’s Chillagoe Region, with combined regional holdings now exceeding 1 million ounces.
This ASX announcement represents a key development for Tartana Minerals Limited, which maintains a market capitalisation of approximately $10.3 million and 214.1 million shares on issue. The Cardross project is transitioning from an exploration asset to a defined bulk tonnage gold opportunity with considerable expansion potential, marking an important investor update.
How Do Cardross Gold Resources Vary by Cutoff Grade?
The flexibility inherent in the Cardross gold resources becomes apparent when examining the resource estimates across multiple cutoff grades. This range provides operational flexibility for future mining scenarios and economic modelling:
| Cutoff Grade (g/t) | Tonnes (Mt) | Gold Grade (g/t) | Contained Gold (oz) |
|---|---|---|---|
| 0.1 | 50.4 | 0.31 | 502,323 |
| 0.2 | 40.6 | 0.34 | 443,809 |
| 0.3 | 22.8 | 0.42 | 307,875 |
| 0.5 | 4.3 | 0.62 | 85,714 |
Technical Parameters Underpinning the Estimate:
- Bulk Density: 2.6 t/m³ applied throughout, reflecting sulphide presence within the mineralisation.
- Drill Spacing: 40-50m x 40-50m in the core resource area, providing sufficient confidence for Inferred classification.
- Classification Standard: Inferred Resource under JORC 2012 guidelines.
- High-grade Cap: Conservative 1.22 g/t Au applied to oxide Domain 200 only.
- Estimation Method: Inverse Distance (IVD) interpolation with oriented ellipsoid search.
- Database: Utilised 62 drillholes from a broader database of 226 surface holes.
The resource estimation employed rigorous quality assurance protocols maintained throughout multiple historical drilling campaigns conducted by previous explorers including Cyprus Mines Corporation, CRA Exploration, and Axiom Mining between 1965 and 2012.
Geological Understanding:
The Cardross copper-gold-silver prospect consists of intersecting shear zones and vein fill located within high-grade metamorphic terrain. Furthermore, the mineralisation is associated with the northeast-trending, west-dipping Cardross Shear Zone, which has been mapped over a distance exceeding 6 kilometres. Observations suggest this shear zone consists of multiple faults within a zone varying between 20-100 metres wide, with multiple en echelon zones of mineralisation developed within the structure.
What is the Expansion Potential of the Cardross Gold Project?
Beyond the maiden resource, the Cardross Gold Project has considerable expansion potential through the defined Cardross Exploration Target. This conceptual target extends 2.2 kilometres from the end of the current Mining Lease Application (MLA 100271) to historic copper workings at Nisha.
Exploration Target Parameters:
| Parameter | Low Range | High Range |
|---|---|---|
| Strike Length (m) | 2,000 | 2,200 |
| Width (m) | 30 | 50 |
| Depth Below Oxide (m) | 150 | 250 |
| Bulk Density (t/m³) | 2.5 | 2.6 |
Resulting Exploration Target:
The Cardross Exploration Target is estimated to range between 23 and 72 million tonnes at a grade of 0.2–0.3 g/t Au, containing 0.22–0.46 million additional ounces of gold. It is important to note that this Exploration Target is conceptual in nature, and there is no guarantee that further exploration will define a Mineral Resource.
Technical Basis for the Target:
- IP Geophysical Anomalies: Strong correlation between chargeability and shear-related mineralisation.
- Surface Geochemistry: Copper-in-soil anomalies coinciding with IP resistivity highs.
- Drilling Intersections: Limited but encouraging intersections from shallow drilling, including:
- NIRC001 and NIRC002 at Nisha
- CP1 at Clansman
- CRR16 at Caledonia
The IP resistivity survey reveals a north-northwest striking anomaly with a strike length of 2,000–2,200 metres, providing a detailed geophysical target for future drilling campaigns.
2026 Drilling Programme:
Tartana plans to drill three widely spaced drillholes within the Exploration Target area as part of a broader programme to potentially upgrade this conceptual target to Inferred Resource status during 2026. This drilling will complement infill work within the existing resource area to increase confidence and test for extensions at depth and along strike.
How Do Cardross and Mountain Maid Gold Deposits Contribute to Regional Gold Inventory?
When combined with the nearby Mountain Maid Gold Deposit, the Tartana Minerals Cardross gold resources contribute to a regional gold inventory exceeding 1 million ounces, elevating the Cardross-Maid area to a noteworthy gold province within Queensland.
Regional Gold Resources Summary:
| Project | Resource (Mt) | Grade (g/t Au) | Contained Gold (oz) | Classification |
|---|---|---|---|---|
| Cardross | 50.4 | 0.31 | 502,323 | Inferred |
| Mountain Maid | 73.6 | 0.25 | 591,573 | Inferred |
| Combined Total | 124.0 | 0.28 | 1,093,896 | – |
The Mountain Maid Gold Resource was reported to the ASX on 20 February 2023 with no subsequent changes, as no additional drilling has been conducted since that announcement. At a 0.1 g/t Au cutoff, Mountain Maid contains 73.6 million tonnes at 0.25 g/t Au for 591,573 ounces.
Geographical Context:
Both Cardross and Mountain Maid projects lie within Tartana’s EPM 27735 (Maid Exploration Permit). The projects are approximately 8 kilometres apart and have the potential to be developed together as a large-scale gold operation with separate open pit mines. Moreover, both locations maintain a similar direct-line distance to the Mungana Processing Plant as Tartana’s copper and zinc projects, creating operational synergies across the portfolio.
Managing Director Dr Stephen Bartrop noted that, when considering the volume of the Cardross inferred gold MRE in conjunction with the nearby Mountain Maid gold MRE, the area is developing into a noteworthy gold province.
Considering Bulk Tonnage Deposits for Cardross Gold Resource Economics
For investors unfamiliar with mining terminology, “bulk tonnage” refers to large-scale, lower-grade mining operations that extract considerable volumes of ore to produce substantial metal output. This approach contrasts with smaller, higher-grade operations and offers distinct economic advantages.
Why Bulk Tonnage Matters for the Cardross gold resources:
- Scale Economics: Large tonnages support extensive infrastructure investments and reduce per-unit costs.
- Technology Integration: Enables implementation of ore sorting technology that can considerably enhance project economics.
- Processing Efficiency: Justifies dedicated processing circuits and specialised equipment.
- Long Mine Life: Provides an extended operational timeline, creating certainty for investors and stakeholders.
- Resource Expansion Potential: Lower cutoff grades allow incorporation of additional mineralisation.
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