Highlights

  • Cardross Inferred Mineral Resource estimated at 50.4 Mt @ 0.31 g/t Au for 502,000 oz.
  • Combined Cardross and Mountain Maid resources now exceed 1 million ounces of gold.
  • Exploration Target identified for an additional 0.22–0.46 Moz Au based on IP modelling.

Tartana Minerals Limited (ASX:TAT) announced a maiden gold Mineral Resource Estimate (MRE) for its Cardross copper-gold project in the Chillagoe Region, Queensland. The company engaged Bluespoint Mining Services Pty Ltd (BMS) to estimate the Inferred MRE, which totals 50.4 Mt @ 0.31 g/t Au for 502,000 ounces of gold at a 0.1 g/t Au cut-off grade, applying a high-grade cut of 1.22 g/t Au.

The MRE excludes potential copper, silver, and minor metal credits due to incomplete assay data. However, historical intersections such as Drillhole CA06DD02, which intersected 6 m @ 3 g/t Au, 4.8% Cu, and 90 g/t Ag, indicate possible future contributions from these metals.

Exploration Target and Combined Resource Base

An Exploration Target ranging between 23–72 Mt at 0.2–0.3 g/t Au for 0.22–0.46 Moz Au has been defined. The estimate is conceptual, with no guarantee that further drilling will define additional resources.

Including the nearby Mountain Maid gold project, which holds 591,500 ounces @ 0.25 g/t Au (announced 20 February 2023), Tartana’s total combined resources in the Cardross–Maid area exceeds one million ounces of gold.

Metallurgical Potential and Ore Sorting Tests

Ore sorting testwork conducted at a nearby project, Wandoo, demonstrated an eightfold increase in gold grade with a 91% metal recovery. Given the similarities between the Wandoo and Cardross–Maid mineralisation, Tartana plans to evaluate this technology for its own deposits.

Initial focus remains on producing copper concentrate from the Tartana copper resources at the Mungana processing facility. However, the expanding gold inventory highlights potential benefits of incorporating a carbon-in-leach (CIL) circuit to enable future gold processing.

Management Commentary

Tartana Managing Director, Dr Stephen Bartrop, said:

“When one considers the quantum of the Cardross inferred gold MRE (502,323 ounces @ 0.31 g/t Au using low cutoff of 0.1 g/t Au and high cutoff of only 1.22 g/t Au, coupled with a conservative Sg of 2.6 t/m³), the additional Cardross exploration target and our separate but nearby Mountain Maid gold MRE (591,500 ounces @ 0.25 g/t Au), the area is developing into a significant gold province.”

Location and Next Steps

The Cardross and Maid projects, both under mining lease applications within EPM 27735, are located within trucking distance of the Mungana processing facility. The company continues to advance lease approvals and explore the potential of combining its gold, copper, and zinc resources for integrated regional development.

Share Performance

The company is currently trading at AUD 0.055 per share, up by 30.95% from its previous close of AUD 0.042