(TheNewswire)
Estes Park, Colorado – TheNewswire - July 21, 2022 – Taranis ResourcesInc. (“Taranis” or the “Company”) ( TSXV:TRO ) , ( OTC:TNREF ) has launcheddrilling and surface exploration campaigns on its 100%-owned“Thor” Silver-Zinc-Gold-Lead-Copper polymetallic project insoutheastern British Columbia.
Several holes have been planned to expand on the Thunder Zonediscovery made in 2021. The Thunder Zone is the northwestern extensionof the epithermal deposit, and remains open to further definitiondrilling along strike. In addition to drilling the Thunder Zone,Taranis will conduct detailed geophysics and soil sampling aroundthree major conductivity trends established by the airbornegeophysical survey in preparation for permitting and drilling.
The Company’s exploration strategy is twofold: to deepen thegeological understanding of the known epithermal Mineral Resource andincrease its size; furthermore, Taranis will conduct detailedinvestigations of the epithermal deposit’s underlying intrusivesource – including documenting alteration haloes, and peripheralconductivity trends - to generate new exploration targets. JohnGardiner, P.Geo. and CEO of Taranis states, “We suspect are workingwith an intact linked epithermal-porphyry system at Thor. Aftersuccessfully confirming the epithermal model in 2021, we flew anairborne MobileMT survey over the project in May of 2022 that wasaimed at understanding a feature that was historically called the‘Intrusive Target’. The data from those surveys has reinforced theinterpretation that there is an intact porphyry source present belowthe epithermal Mineral Resource. If this concept is borne out bydrilling, the ‘Elephant’ at Thor and the nearby Max molybdenumdeposit would be the easternmost cluster of porphyry bodies in BritishColumbia”
Increasing Evidence for the Existenceof an Intrusive Below the Epithermal Mineral Resource
One of the telltale signatures of a porphyry deposit is the presenceof a magnetic anomaly which transects the regional structural hostrocks. The five historic mines and distinctive vein-stylemineralization at Thor are hosted within the Silver Cup Anticline –but the airborne MT survey, which included mag, identified a large andhighly magnetic body (referred to as the “Elephant” or“Elephant’s Body”) that crosscuts obliquely across the SilverCup Anticline. The magnetic body also has a close spatial associationwith the known epithermal mineral deposits. Magnetite is a commoncomponent of porphyry copper deposits in British Columbia –particularly within potassic alteration zones, which are intimatelyassociated with porphyry bodies.
Three Major ConductivityTrends
The airborne MT survey also identified three major WNW-trendingconductive features that emanate from the west side of the NW-strikingElephant intrusive target, and are known as the Broadview South,Western Deeps, and Thunder North targets. The reason for the elevatedconductivity of these features is unknown, but their spatialconfiguration suggests they are associated with large faults that mayhost significant concentrations of precious and base metals. Mr.Gardiner states, “These are large targets - up to 1,500 m in strikelength, and each may host additional epithermal deposits similar insize and composition to the “Elephant’s Trunk” which currentlycomprises the entire NI 43-101 Mineral Resource at Thor.” Theseconductive features are known to occur under parasitic anticlinesassociated with the main Silver Cup anticline, below the impermeableBroadview Formation that forms the caprock in the main Thor deposit.The targets also occur under areas of elevated topography whichindicate the presence of substantial propylitic/phyllic alteration ofthe rocks above the conductive features.
Broadview SouthConductivity Target
Field investigation of the first of the three conductive targets hascommenced, and consists of geophysical gridding, magnetometer and VLFsurveys. Soil sampling will also be undertaken to better characterizethe subsurface geology and provide drilling targets.
Alteration Studies (Epithermal andPorphyry Deposits)
Understanding alteration zoning is an important aspect of explorationfor both epithermal and porphyry deposits. There is considerablealteration found at Thor that is associated with both the narrow, buthigh-grade epithermal deposit, and typically it consists of widespreadsericitization and silicification. Geologic mapping has also shown thepresence of widespread alteration related to the Elephant, and some ofthis alteration extends upwards of 500 m from the concealed intrusivetarget. The formal identification and accurate mapping of alterationassociated with this feature will aid in drilling of this importantexploration target. It is rare to have an intact, uneroded porphyrydeposit in British Columbia, and one that is hosted entirely withinsedimentary rock. Despite this unusual setting [to quote porphyryexpert Corbett]…many quality porphyry copper-gold (Grasberg, WestPapua; Bingham Canyon, U.S.) and intrusion-related gold deposits(Porgera, Papua, New Guinea) do not occur in association with relatedvolcanic rocks.
Taranis Resources Inc. is a well-positioned exploration company thatis exploring and developing its 100%-owned Thor precious-base metalproject in British Columbia. Taranis has drilled over 250 drill holeson the project, defining a near-surface epithermal deposit that isover 2 km long to NI 43-101 standards. The Company refers to theepithermal trend as the “Trunk”, invoking the anatomy of anelephant to portray the large structures which appear to be connectedat depth to the epithermal zones. Recent exploration work hasidentified a large porphyry-type exploration target (“Elephant’sbody”) underlying the epithermal deposit which has clear links tothe overlying epithermal deposit. Limited drilling of the“Elephant” target completed to date shows the target ismineralized. Three other large geophysical targets occur peripheral tothe Elephant in two trends - these are large disseminated-typesulfide-type targets (Western Deeps, Broadview South and Thunder North– “Tusks”).
For additional information on Taranis or its 100%-owned Thor projectin British Columbia, visit www.taranisresources.com
Taranis currently has 82,948,017 shares issued and outstanding(94,185,017 shares on a fully-diluted basis).
Per: John J. Gardiner (P. Geol.),
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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