TAS 16.7% 0.5¢ tasman resources ltd

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    This announcement was made at 15:40 today.

    HOMEX Perth

    Tasman Resources today announced an extended strike anomaly of 3.6 km by 300 metres at its Clara St Dora base minerals prospect in South Australia's far north.
    The Clara St Dora prospect is located about 100 kilometres north-east of WMC's Olympic Dam mine.
    Tasman - which has large exploration tenements adjoining the Olympic Dam mine at Roxby Downs in the Stuart Shelf region of SA - said it expected to commence drilling the expanded Clara St Dora target late next month or early in February, subject to obtaining Aboriginal Heritage Clearance.

    "Subject to drilling establishing the presence of base metal sulphides within the 3.6km x 300m IP/gravity anomaly, the above anomaly may indicate a significant discovery," Tasman's Executive Chairman, Mr Greg Solomon, said today.

    "These geophysical indications are what could be expected over a major sedimentary exhalative' (SEDEX) type of mineralisation, of which Mt Isa is an example," Mr Solomon said.

    "However, directors emphasise that this possible interpretation remains highly speculative until drilling is undertaken and the presence of base metal sulphides established."

    Tasman announced today that the total anomaly strike length had been extended by the indication of at least 1.2km along-strike continuation "of the remarkable strong coincident IP/gravity anomaly from Line 3 announced on 11 December 2002.

    "Based on the company's IP survey to date, the total strike length of the highly anomalous coincident IP/gravity anomaly is about 3.6km, with the untested gravity anomaly extending further," Mr Solomon

    "Data available to date from our exploration indicates the presence of highly electrically chargeable material which has significant high rock density," he said.

    "The company's technical experts advise that the most likely source is a high concentration of metallic sulphide minerals, probably within a graphitic shale host, in the Callana Group of the Willourn Super-group in the Adelaidean succession."


    Meanwhile, Mr Solomon said diamond drilling on the neighbouring Shelf 6 prospect was also scheduled to resume late in January or early in February.

    The Shelf 6 drilling program has been interrupted by a mechanical breakdown of the drill's hydraulic pump.

    The program is aiming to verify the occurrence of Mississippi Valley Type copper/zinc mineralisation in limestone/dolomite as indicated from initial drilling earlier this year.The first drillhole completed last weekend intersected copper sulphide and zinc sulphide
    mineralisation 700m away from where the earlier drilling program first identified this targeted style of base metal mineralisation.


    Work will also resume in January on the company's Marathon and Titan prospects, including obtaining Aboriginal Heritage Clearance with a view to drilling these prospects during the opening months of 2003.

    Perth-based Tasman Resources joined the ASX lists last year after its Initial Public Offering closed heavily oversubscribed.

    The $3 million IPO closed with an additional $500,000 in
    oversubscriptions also being accepted.

    The Supplementary Prospectus, which was not underwritten, offered 20-cent shares and included one free February 2006 option for every four shares subscribed.

    Tasman's significant exploration tenements cover some 10,000 square kilometres and straddle the Gawler Craton/Stuart Shelf/Adelaide Geosyncline structures adjacent to the giant Olympic Dam mine.

    Very little previous exploration has occurred over most of Tasman's tenement area, mainly because most of the region is largely covered by either sand dunes or younger sedimentary cover.

    FURTHER INFORMATION: Please contact:

    Greg Solomon, EXECUTIVE CHAIRMAN John Field
    Tasman Resources NL Field Business Services
    Mob: 0402 060 000 0418 819 527
    Work: 08 9221 5323
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