Taranis Resources Samples 3.72 Metres of 28.79 g/t Gold at Thor Project
TSX VENTURE: TRO
Lakewood, Colorado / TheNewswire / September 25, 2017 - Taranis Resources Inc. ("Taranis" or the "Company") [TSX.V: TRO] is pleased to update exploration activity related to its 100%-owned Thor project.
Excavation of ore for the gold pilot plant at Thor has uncovered the continuation of high-grade gold mineralization at the SIF Zone in an area now referred to as the SIF-Extension. The original SIF zone occurs west of the main Ag-Au-Pb-Zn-Cu deposit within the top of an anticline fold structure, but it is now known that the zone rolls onto the west side of the anticline structure and continues to plunge moderately (450) to the northwest.
Taranis will issue a separate News Release concerning the mining activity, and gold recovery of the original SIF Zone once it has ceased processing ore.
Excavation of the SIF-Extension below the mined-out SIF Zone has allowed Taranis to complete nine lines of channel sampling across the exposure, each representative of the true thickness of the zone. The sampled exposure shows the true thickness of the zone, and all sampling is directly taken on surface. ICP analyses are pending, and will be released at a later date. Channel sample lines are spaced 1.5 m apart, and are normal to the dip of the gold-bearing zone.
|Channel Sample Line||True Thickness (m)||Gold (g/t)|
The SIF-Extension zone contains visible gold similar to broken ore from the SIF Zone that is currently being processed in the gold pilot plant. In contrast to the main Thor Ag-Au-Pb-Zn-Cu deposit that includes abundant sulphide minerals, the SIF and SIF-Extension Zones consist of massive quartz with brecciated textures, and most distinctly a reddish iron oxide mineral that forms prominent gossans. Visible gold is commonly found in the zone, and it occurs with small amounts of magnetite, pyrite and within vuggy cavities in the rock.
The SIF-Extension is up to 3.72 m thick, and folded into an "s-shaped" fold plunging steeply to the northwest, and dipping to the southwest along the Sharon Creek / Broadview Formation contact identical to the main Thor Ag-Au-Pb-Zn-Cu deposit. This is consistent with a VMS deposit setting where it is common to find gold distal to the base-metal enriched core of the deposit, but within the same stratigraphic horizon.
The stratabound nature of the mineralization indicates that the SIF-Extension gold target is potentially very large, and it has been subsequently modified by extensive folding and north-northwest high-angle faulting. The southwest side of the outcrop exposes a southwest dipping fault that appears to abruptly truncate the SIF-Extension zone, and opens the possibility that the zone is faulted-off from a currently unlocated gold zone. Additional evidence for this is shown by a thickening of the zone and increasing gold content towards the fault.
Geophysical Survey Tracing SIF Extension to Northwest
Previous geophysical surveys (2014) identified a strong VLF conductor in this area that extends for 120m to the northwest under a landslide infilling a valley, and this area has not been tested with any diamond drilling. Taranis has completed a detailed grid over the northwest continuation of the zone and has identified a strong conductive feature that is related to the newly discovered SIF Extension.
Samples are delivered by Taranis via courier to MS Analytical Labs in Langley, British Columbia. MS Analytical Labs is an ISO-9001:2008 certified analytical laboratory. The Company inserts external standards every 10th sample for quality control in addition to the stringent internal checks completed at MS Analytical. Samples are dried, crushed, split and pulverized. Analysis for gold is done by 30 gram fire assay with ICP and gravimetric finish.
John Gardiner (P.Geol.) is the Qualified Person on the Thor Project, and supervised the preparation of the scientific and technical disclosure in this News Release.
About Taranis Resources Inc.
Taranis is an exploration company focused on the development of its 100%-owned Thor project in southeast British Columbia. The Company's mandate is to recognize mineral deposits early in the exploration cycle that can be developed through intelligent exploration and business alliances. For additional information on Taranis or its Thor project, please visit our website at www.taranisresources.com.