(TheNewswire)
Estes Park, Colorado – TheNewswire - May 31st, 2022 – TaranisResources Inc. (“Taranis” or the “Company”) [TSXV:TRO ) , ( OTC:TNREF ) is pleased to provide an update on its 100%-owned“Thor” precious-base metal deposit, which was recently surveyedusing airborne magnetics, very low frequency (“VLF”)electromagnetics, and magnetotellurics (“MT”). MT and magneticdata have been modeled and merged with previous data sets. Analysis ofthe geophysical data is ongoing, but review of the data has yieldedseveral highly prospective exploration targets. Some of the results ofthis interpretation are available at www.taranisresources.com .
The geology of the immediate Thor Mineral Resource is dominated by twogeological features.
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The first is referred to as the “Elephant”, which is interpretedto be a central buried intrusive body, and which is clearly visible onMT and magnetic surveys.
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The second geological feature is a broad wishbone-shaped area of highconductivity that forms a ‘donut’ around the Elephant. This isinterpreted to be thermal alteration directly related to theElephant.
The existing Thor epithermal deposit lies on top of and west of theElephant, enclosed with the Wishbone. It is important to note that theElephant, Wishbone and Thor epithermal deposit crosscut the dominantstructural fabric (west-northwesterly) in a north-northwest trend, oneof the quintessential hallmarks of an epithermal-porphyry type mineraldistrict.
Elephant Intrusive
The Elephant underlies the Thor epithermal deposit and has beenpostulated to be the source of the precious and base metal epithermalmineralization. Despite being such a major geological feature, thisfeature has never been drilled; although several holes have documentedexpansive sericitic alteration around the feature consistent withphyllic alteration found around porphyry-type deposits (Thor-74). TheElephant is not exposed at surface, but modeling of the MT andmagnetics show that the intrusive body rises to connect with theepithermal systems at the terminus of the Elephant. The body is acomposite resistivity and magnetic feature and has obvious zonation.Taranis interprets this spatial relationship to mean that the Elephantwas the source of precious and base metals found in the Thorepithermal deposit, and that the epithermal deposit potentiallyoverlies a deeper, mineralized porphyry body.
Elevated Conductivity ‘Donut’Surrounding the Elephant (“Wishbone”)
The airborne survey has also identified a 3km-by-3km annulus ofelevated conductivity that surrounds the Elephant and which isconsistent with a large zone of thermal alteration. The Wishbone hastwo distinct arms that extend to the northwest from the Elephant, andmerge underneath the Megagossan. This feature is at least in partattributed to carbonization and pyritization of the Sharon CreekFormation, but conductive areas also extend upward into the Broadviewand Thunder Zone parts of the Thor epithermal deposit, suggesting thatthe Wishbone also plays an important role in the formation of theepithermal deposits at Thor. The Wishbone may in fact be host tolarge, disseminated type sulfide deposits that could also hostprecious and base metal mineralization.
Epithermal Component of Thor Expandsto 4.2 km in Possible Strike Length
Taranis has routinely used ground VLF surveys in exploration of theThor epithermal deposit, but until now has lacked complete coverageover the property due to the rugged terrain. The Expert Geophysics VLFsurvey has expanded the prospective length of the epithermal depositat Thor to upwards of 4 km in strike length. The airborne surveyidentified a conductive feature extending northwest of the ThunderZone under Thor’s Ridge and also outlined a conductive target southof the Broadview Mine that has never been explored.
Comment
John Gardiner, President and CEO of Taranis states,“The airborne magnetic and VLF/MT surveys have been transformativein our understanding of the geology at Thor. The existing Thorepithermal deposit has been the main focus of our exploration the past14 years, but now it’s starting to look like the epithermal depositis a small ‘crack’ lying on top of a much larger,intrusive-dominated geophysical feature. The impressive conductivealteration zone measures 9km 2 and completely encompasses the Elephant.It’s very unlikely that the high-grade zones in the epithermaldeposit are unrelated to the Elephant intrusive, as it connects to theknown resource at depth. The sheer number of new and exciting drilltargets which have started to arise from the airborne geophysicalsurvey data is staggering. We now recognize that there is an Elephantin the room at Thor – and it is time to do something aboutit!”
Qualified Person
Exploration activities at Thor were overseen by JohnGardiner (P. Geo.) who is a Qualified Person under the meaning ofCanadian National Instrument 43-101.
About Taranis Resources Inc.
For additional information on Taranis or its 100%-owned Thor projectin British Columbia, visit www.taranisresources.com
Taranis currently has 79,698,017 shares issued and outstanding(87,685,017 shares on a fully-diluted basis).
Per: John J. Gardiner (P. Geo.),
For further informationcontact:
John J. Gardiner 681 Conifer Lane Estes Park, Colorado 80517 Phone: (303) 716-5922 Cell: (720) 209-3049 |
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