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Tombola unearths a host of promise at Burra project

29 March 2022 11:12
ASX: TBA

Tombola Gold has added rigour to its copper-nickel-cobalt-gold-rare earth Burra project following an internationally renowned geologist investigating the site located in the prolific Burra Region in the mid-north of South Australia.

Professor Ken Collerson found a unique exploration advantage in the site’s Delamerian tenements east of Burra –possibly one of Australia’s most potentially metal-fertile yet unexplored regions.

Geochemical, geophysical and tectonic modelling all showed potential for Cu-Au porphyry and epithermal Au mineral systems, like the Stavely system in Victoria.

The company said the project, sharing a geological structural corridor playing host to Olympic Dam, Carrapeteena and Prominent Hill, has significantly improved its understanding of the area.

“Our focus still remains firmly on gold production and our longer-term aspiration to become a meaningful producer,” managing director Byron Miles said.

Tombola plans to remain sharply focused on gold exploration but will use the multimineral finding as part of the year’s balance exploration planning.

The company anticipates initial gold production from its Comstock Gold Mine, part of the Golden Mile Project in Cloncurry, Queensland, in Q2 or early Q3 2022.

TBA’s Australian Stock Exchange-listed share price was trading at 3.7c today (9.11 am UTC+ 8 hours).

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