Flinders Island diamond projects

Flinders Ranges

Overview

Diamonds have been located to the north in the Peake and Denison Ranges eroding out of the Jurassic Algebuckina Sandstone. The sediments containing these alluvial diamonds are thought to have come from the south or southwest so Flinders is trying to locate the source by undercover drilling to the base of the Mesozoic sediments. The project area is on the Gawler Craton which Flinders believes is one of the most prospective areas for diamonds in Australia.

Location

Lake Torrens Project areas are located immediately north and west of Olympic Dam. Flinders operates this exploration under a Joint Venture with Tasman Resources whereby Flinders can earn up to 70% of the diamond rights in these Exploration Licences.

South Gawler Craton

Several diamonds and diamond indicator minerals are known from the project areas and surrounds. However, they are not thought to be derived from primary basement diamond source rocks. FMS’ strategy is to follow up magnetic anomalies identified from interpretation of airborne magnetic data from PIRSA’s SAEI surveys at 400-meter line spacing flown in the 1990s. Once an anomaly is identified, it will be re-flown by a 1km square sized “postage stamp” helimag survey at 50-meter line spacing. Interpretation and geophysical modelling of the high-resolution data should enable a decision about if and where to drill a hole to test the target.

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