IOCGUIron Oxide, Copper, Gold and Uranium (Australia)
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The area offers prime untested targets in the world-class Olympic Dam IOCGU district that have been untouched over the last several years.
Renaissance's exploration at the Eastern Eyre Project is targeting large IOCGU and shear-hosted copper-uranium deposits within the southern portion of the Olympic Dam IOCGU corridor.
- WCP can currently earn up to a 65% interest in the Lake Torrens IOCGU Project by spending $6.5 million within a five year period.
WCP Resources Limited ("WCP") is pleased to announce the signing of a Binding Terms Sheet ("Agreement") to provide funding of its farmin rights under the Farmin and Joint Venture Agreement with Tasman Resources Limited (ASX code: TAS) ("Tasman") on its Lake Torrens IOCGU Project located adjoining BHP Billiton Limited's world-class Olympic Dam mine at Roxby Downs in the Stuart Shelf region of South Australia.
We believe this transaction with a renowned Canadian resources merchant banker gives us the right exposure to a significant interest to the enormous upside potential evidenced by the numerous world class IOCGU deposits in the immediate region of Lake Torrens.
Detailed gravity data was also collected by Haines Surveys over the southern part of the Lake Mackay Project, covering areas interpreted to be Mount Webb Complex, analogous with South Australia's Gawler Craton that hosts world-class Iron Oxide Copper Gold Uranium ("IOCGU") style deposits including Olympic Dam.
The Sandover Project lies 250km northeast of Alice Springs along the boundary between the Georgina Basin and Aileron Province, where Toro is exploring for sedimentary uranium within various cover sequences of Palaeozoic age and IOCGU mineralisation in the basement.
The presence of hematite alteration and weak copper mineralisation along strike at the historic Perenti prospect, suggests that an IOCGU alteration system may exist within Toro's tenement.