Tasman (ASX: TAS) advises that a two hole, deep diamond drilling program to test the Vulcan North gravity anomaly has recently been completed by FMG Resources Pty Ltd, a wholly owned subsidiary of Fortescue Metals Group Ltd (ASX: FMG 'Fortescue').

Fortescue is currently earning a 51% interest under a Farm in and Joint Venture Agreement over Tasman's wholly owned, South Australian Exploration Licence 6416. The Lake Torrens project (EL6416) hosts the Vulcan and other IOCG prospects and is located approximately 30km north of BHP's Olympic Dam mine and 600km north of Adelaide.

Drilling of both holes (VUD018 and 019) commenced with a vertical reverse circulation (RC) hole before switching to diamond drilling followed by some navigational drilling near the base of the cover sequence to flatten the hole. Coring was then continued at a low angle through the basement across portions of the identified gravity anomaly. Both holes intersected substantial downhole widths# of hematite breccia which is often a significant host to mineralisation in IOCG deposits.

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