(TheNewswire)
Estes Park, Colorado – TheNewswire - December 1, 2022 – TaranisResources Inc. (“Taranis” or the “Company”) ( TSXV:TRO ) , ( OTC:TNREF ) is reporting furtherexploration results from the 2022 field season at its 100%-owned Thordeposit located in British Columbia. The results discussed in thisNews Release pertain to a feature called Megagossan that is now knownto occur within the north end of the Ripper Fault (See Taranis NRdated November 28, 2022).
Megagossan
After completing an airborne magnetotelluric/magnetic survey in May of2022, a large conductive feature named the North Tusk was found underThor’s Ridge. Although the source of this conductive anomaly has notbeen tested with any diamond drill holes, it occurs in close proximityto a prominent gossan that is readily visible on satellite images ofthe area. The Company returned to this area in 2022 to completedetailed sediment sampling of the gossan. The Company investigatedMegagossan in greater depth via field spectrometer surveys to identifyminerals, and to localize the source and characterize the gossanwithin a linked-porphyry-epithermal model. Gossans are commongeological features that are found in close proximity to ore deposits,and detailed examination of their mineralogy and metal content can becritical to proper identification of the source of the gossan.Previous soil sampling in the area in 2013 yielded up to 0.3% nickeland values of cobalt in excess of 0.2%.
Trace Element Geochemistry
Taranis took 26 sediment samples over Megagossan, and these wereanalyzed by mass-spectrometry for trace metals. The results of thissampling indicate that the gossan contains on average 38% iron(“Fe”), and this is hardly surprising given the prominentorange-brown colour of the gossan. The gossan, however, shows adrastic reduction in iron content towards the southeast part of thegossan, and it is in this area where the highest concentration ofpathfinder metals is located.
Silver, copper, lead, antimony, zinc, cadmium, nickel and cobalt areenriched in the southeast part of the Megagossan. This stronglysuggests the presence of a concealed source of epithermalmineralization, which is being leached by groundwater to the southeastand at depth. Previous exploration activity on the feature in theearly 1900’s collared an exploration adit into the Megagossan at thenorth end of the gossan, and despite having the greatest Fe content inthis area-it also has the most diminished pathfinder metal values.
Ultraviolet/Visible/Near Infra Red (“UV/VIS/NIR”) Spectrometry
Taranis used an OreXpress field portable UV/VIS/NIR spectrometer formineral identification at Megagossan (44 sample sites). Spectroscopicscans collected in the field were compared with a library of minerals,and only those minerals identified with over 95% confidence levels ofidentification have been accepted for mineral mapping. Hematite andlimonite (minor ferrihydrite) are the main species of iron-oxideminerals present in the Megagossan. In addition, opal, hyalite andother varieties of silica-rich minerals are also locallyabundant-indicating that silica has been actively remobilized in thegossan, likely in addition to some of the important metal traceelements.
Some of the mineralogy and geochemistry points towards Megagossanbeing sourced from a contact metamorphic zone and/or underlyingintrusive rocks. Manganese is found in great abundance (average 1.6%in Megagossan). Some of the minerals identified from the OreXpressthat contain this element are hausmannite (Mn 2 O 4 ) and hydromagnesite (Mg 4 (OH) 2 (CO 3 ) 3 *3H 2 O.Lazurite is also found in abundance, and its presence suggests contactmetamorphism of limestone. Nickel (up to 0.17%) and cobalt (up to0.13%) are also commonly found in the southeast part of the Megagossanin conjunction with enrichment of other metals. A pasty white residueis found in the gossan that has precipitated at surface, and it isvery characteristic of areas enriched in nickel and cobalt.
UV/VIS/SWIR was also able to identify several oxide minerals thatcontain metals, which have been remobilized from a source belowsurface. The oxides are strongly indicative of epithermalmineralization at Thor. Crocoite (PbCrO 4 ),cerrusite (PbCO 3 ), and stibiconite (Sb 3 O 6 ) were identified,particularly in the southeast portion of the gossan where geochemistryhas shown anomalous levels of lead and antimony in sediment samples.Zeolite minerals are also ubiquitous in the gossan includingheulandite, philipsite, thomsonite and chabazite. Zeolites arecommonly found in low-temperature hydrothermal systems - theirpresence along with opaline silica suggests that Megagossan is afossilized hot spring, and this would explain the large size (150 m X100 m) of the gossan at surface.
Discussion
The 2022 field surveys undertaken at Megagossan have validated a soilsampling survey undertaken in 2013. Highly anomalous nickel and cobaltvalues are most probably derived from and related to mafic intrusiverocks that occur at depth and to the southeast of the gossan, andcould also be related to a large pyrite shell commonly found aroundporphyry deposits. Anomalous levels of silver, lead, and antimonyfound in association with the secondary minerals crocoite, cerrusiteand stibiconite and are almost certainly derived from an area ofepithermal mineralization at depth possibly related to a largeconductivity anomaly (Thunder North) identified in an airborne surveyin May 2022 that occur at a depth of 600 m below the surface.
Although only an exploration drill is required to tell us for certainwhat lies below the surface at Megagossan, the 2022 exploration workhas been useful in refining the drill target at Thunder North. Therelationship of Megagossan to a prominent geophysical feature makesthis one of many valuable targets to continue to expand precious andbase metal mineralization at Thor.
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. The Company refers to the epithermal trend as the“Trunk”, invoking the anatomy of an elephant to portray the largestructures which appear to be connected at depth to the epithermalzones. Recent exploration work has identified a large porphyry-typeexploration target (“Elephant’s body”) underlying the epithermaldeposit which has clear links to the overlying epithermal deposit.Limited drilling of the “Elephant” target completed to date showsthe target is mineralized. Three other large geophysical targets occurperipheral to the Elephant in two trends - these are largedisseminated-type sulfide-type targets (Western Deeps, BroadviewSouth, and Thunder North – “Tusks”).
Quality Control and AnalyticalProcedures
Samples were processed by ALS Canada Limited (“ALS”) in Kamloops,British Columbia, and analysed by ALS in Vancouver. Taranis securesits samples and deliver the samples to the facility in Kamloops. TheALS Global quality program includes internal and externalinter-laboratory test programs and regularly scheduled internal auditsthat meet all requirements of ISO/IEC 17025:2017 and ISO 9001:2015.Samples were analyzed by mass-spectrometry (ALS method ME-MS41L).
Qualified Person
Exploration activities at Thor were overseen by John Gardiner (P.Geo.), who is a Qualified Person under
the meaning of Canadian National Instrument 43-101. John Gardiner isan employee of John J. Gardiner & Associates, LLC. who operates inBritish Columbia under Firm Permit Number 1002256.
For additional information on Taranis or its 100%-owned Thor projectin British Columbia, visit www.taranisresources.com
Taranis currently has 85,681,351 shares issued and outstanding(93,965,017 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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This News Release may containforward looking statements based on assumptions and judgments ofmanagement regarding future events or results that may prove to beinaccurate as a result of factors beyond its control, and actualresults may differ materially from expected results.
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