(TheNewswire)
Estes Park, Colorado, TheNewswire, November 28, 2022 – TaranisResources Inc. (“Taranis” or the “Company”) [TSX.V: TRO,OTCQB: TNREF] is reporting the first of many exploration results fromthe 2022 field season at its 100%-owned Thor deposit located inBritish Columbia. These results are from a newly-discovered area thatborders the west side of the Thor epithermal deposit between Gold Pitand the SIF Zone.
Ripper Fault
Bonanza-grade mineralization was exposed in a fault (“RipperFault”) that has near-vertical geometry in contrast to the Thorepithermal deposit that dips moderately to ENE. The importance of thisstructure is highlighted because all of the known epithermalmineralization at Thor is truncated along this structure, and thathost rocks prospective for epithermal mineralization on the WSW sideof the fault have been down-dropped.
The Ripper Fault has visibly offset the existing Great Northern lode,and the west side of the Ripper Fault has been down-dropped. There isa stunning picture of this on the Company’s website, and it hasimportant implications for a new target previously discussed called“Western Deeps”. The Ripper Fault also connects four areas ofknown mineralization. These are from southeast to northwest, Gold Pit,New Zone, SIF and Megagossan.
The following table shows results of the 2022 chip sampling from theRipper Fault.
Channel Sampling (RipperFault) | ||||||||
Sample No. | Wt (Kg) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | Sb (%) | Thickness (m) |
3241080 | 1.09 | 0.260 | 52.7 | 0.030 | 0.291 | 0.12 | 0.01 | 0.33 |
3241081 | 1.45 | 12.5 | 1,100 | 0.031 | 14.9 | 0.10 | 0.27 | 0.33 |
Average | 6.38 | 576 | 0.031 | 7.6 | 0.11 | 0.14 | 0.66 m |
Some of the excavated material from the Ripper Fault also confirmedhigh silver, gold, antimony, and base metals as shown in two grabsamples:
Grab Samples (Ripper Fault) | ||||||||
Sample No. | Wt (Kg) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | S (%) | Zn (%) | Sb (%) |
3241091 | 1.57 | 0.441 | 489 | 0.008 | 14.95 | 4.47 | 0.022 | 0.04 |
3241092 | 1.98 | 5.320 | 2,290 | 0.171 | >20.0 | 14.55 | 3.040 | 0.41 |
Relationship of 2022 Exposure to GoldPit, SIF and Megagossan (‘FeNiCo’) Zones
Gold Pit, SIF and Megagossan occur within a geological structurecalled the Ripper Fault that postdates the emplacement of the knownepithermal gold zones at Thor but appears to be an important host ofbonanza-grade mineralization. The Ripper Fault is visible as a subtle,yet prevalent magnetic feature that was identified in the May 2022Expert Geophysics airborne survey. This aeromagnetic feature is 3.2 kmin length and characterized by a knife-edge feature that crosscuts theNW-trending Silver Cup Anticline.
Previously, Taranis has released channel sampling results from bothGold Pit (News Release dated January 14/2015 and November 14/2017),and results from a 600 tonne bulk sample of SIF on a November 20/2018News Release. Highlights from the Gold Pit Zone included 26.6 g/t Au,1,245.7 g/t Ag, 3.08% Pb, 4.32% Zn and 0.55% Cu over 1.53 m truethickness, and 52.4 g/t Au, 1,541.8 g/t Ag, 1.39% Pb 0.08% Zn over2.04 m true thickness. The SIF Zone (discovered by Taranis in 2013) isconsidered a unique part of the Thor deposit owing to its mainly“gold-only’ metallogeny, and the Company refers to this as a‘monometallic’ part of the Mineral Resource. Gold at SIF isextremely nuggety and can only be characterized with largestatistically-meaningful samples and prompted the Company to undertakea small bulk sample on the zone in 2018 to accurately measure the goldcontent of the zone. A 600 tonne sample yielded a grade of 6.5 g/tgold, yet only contained trace amounts of silver and base metals.There is increasing evidence to support the concept that thismineralization is distinct from the main polymetallic mineral resourceat Thor.
Taranis completed further surface sampling on Megagossan Zone in 2022,and results of this will be disclosed in an upcoming News Release.
Discussion
Previously conducted mapping and sampling at Thor on the Gold Pit madeTaranis aware of the possibility that the Thor epithermal deposit wastruncated by a fault on the west-side of the existing deposit.Additional work in 2022 north of this area uncovered a new exposurethat has proven that a fault truncates the deposit on the west side.The 2022 sampling, and previous channel and bulk sampling at Gold Pitand SIF, have conclusively demonstrated that the Ripper Fault is alsomineralized and contains bonanza-grade gold and silver mineralization.This a common feature of high-grade epithermal gold/silver deposits.
The identification of the Ripper Fault has highlighted the importanceof an area called Western Deeps, where the Company suspects that theThor epithermal deposit has been down-faulted. An expert GeophysicsMagnetotelluric survey has identified a number of conductive anomaliesin an area west of the fault that are potential bulk-mineableepithermal targets. Taranis completed a number of surveys in thisarea, and results are expected to shed further insight into thisimportant area.
In addition, the results from the 2022 sampling indicate that othermetals such as antimony are possibly valuable companion metals in theepithermal Mineral Resource but have not yet undergone detailedinvestigation, and do not constitute a part of the mineral Resource.Taranis has not systematically analyzed the polymetallic MineralResource at Thor for antimony, indium, or any other strategic‘companion’ metals, and this is the purpose for permitting andundertaking a 10,000t bulk sample at Thor. It is impossible to conductany Mineral Resource updates on the project without a fullunderstanding of the ‘companion’ metals that constitute theMineral Resource.
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 are analyzed by method ME-ICP61 and method Au-AA23 (goldfire-assay with AA finish). High-grade (overlimit) samples commonlyrequire additional gravimetric procedures to determine the content ofgold and silver in the samples. Taranis inserts its own set ofstandards every 10 th sample in the ALS analytical stream as an external Quality Controlmeasure.
Qualified Person
Exploration activities at Thor were overseen by John Gardiner (P.Geol.), 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 sharesissued 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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