(TheNewswire)
Estes Park, Colorado – TheNewswire - March 23, 2022 – TaranisResources Inc. (“Taranis” or the “Company”) ( TSXV:TRO ) , ( OTC:TNREF ) is providing anexploration update on its 100%-owned Thor precious-base metal depositlocated near Trout Lake, British Columbia. Taranis has now receivedall its fall 2021 drill core analytical results from Bureau VeritasCommodities Canada Ltd. (“Bureau Veritas”) in Vancouver, BritishColumbia and has posted a map that outlines the important features onits website at www.taranisresources.com
Overview
In 2021, Taranis announced the discovery of a new zone(Thunder Zone) on the north end of the existing Thor Resource locatedunder a rockslide approximately 50 m in thickness. This new vein islocated approximately 100 m above the Blue Bell Zone, which has beenextensively drilled and is exposed in underground workings. The mostnortherly hole is Thor-220 and has been previously reported in aTaranis News Release (October 25, 2021). Subsequent to the completionof hole Thor-220, Taranis completed an additional seven core holes inthe Thunder Zone on two access roads. The results of this coredrilling are summarized and discussed below.
Two Types of Mineralization in theThunder Zone
The Thunder Zone contains two different types ofmineralization based largely on metal content, but both types ofmineralization occur within the same vein. The first-type(‘Type-A’) is classic epithermal high-grade polymetallicmineralization typical of the main Thor deposit. It occurs near thetop of the Thunder Zone vein and contains significant amounts of Au,Ag, Pb, Zn, Cu and Sb. Below this and down-dip, is a second type(‘Type-B’) that is lower grade mineralization and containsgeochemical levels of gold and silver, and notably lacks base metalsfound in the Type-A parts of the Thunder Zone. A similar trend is alsoseen in all of the other zones in the main Thor deposit, but withsignificantly less gold.
Epithermal Polymetallic Intercepts(‘Type-A’)
The high-grade polymetallic intercepts are restrictedto the upper parts of the Thunder Zone, and are thereforenear-surface. The following table show the intercepts that werereturned along the apex of the Thunder Zone, and occur within alimited area along roads 200 & 300. The Thunder Zone remains opento the north-northwest where a series of EM-VLF anomalies appear tohave located the Zone. Taranis will use the upcoming airborne survey(see Taranis News Release dated January 31, 2022) to follow these deepVLF-EM anomalies further northwest; and ideally it will helpunderstand the full extent of the zone.
Hole Number | From (m) | To (m) | Thickness (m) | % Cu | % Pb | % Zn | % Combined Cu+Pb+Zn** | Silver (g/t) | Gold (g/t) |
Thor-220 | 68.13 | 72.09 | 3.96 | 0.15 | 2.63 | 3.63 | 6.42 | 253.8 | 0.61 |
Thor-224 | 17.77 | 18.05 | 0.28 | 0.02 | 1.12 | 2.91 | 4.05 | 67.0 | 0.28 |
Thor-225 | 17.50 | 18.90 | 1.40 | 0.04 | 0.77 | 2.54 | 3.35 | 136.0 | 0.51 |
Thor-226 | 42.52 | 43.41 | 0.89 | 0.12 | 2.09 | 0.36 | 2.56 | 364.6 | 0.48 |
Epithermal “Feeder Zone” Intercepts (‘TypeB’)
Some of the holes drilled east of the high-gradepolymetallic intercepts have intersected deeper ‘feeder zones’over a large area with geochemical-level gold and silver values whichare noticeably devoid of base metals. They exhibit a distinct zonationwhere the amount of gold relative to silver increases with depth.Moving vertically upwards in the Thunder Zone, the transition into thehigher-grade Type-A mineralization occurs where the Au/(Au+Ag) ratiois less than 1%.
Modern porphyry exploration relies on analysis ofzonation in order to generalize the location of intrusive bodies, andthe Thor deposit exhibits broad-scale metal and textural zonation. Inaddition to the pronounced metal zonation documented in the ThunderZone, there is also evidence of significant intrusive activityincluding mineralized dyke rocks (Thor-222), and increasing thicknessof Jowett Formation volcanic rocks towards the north.
Hole Number | From (m) | To (m) | Width (m) | Intercept | Au/(Au+Ag) Ratio** |
Thor-227 | 114.37 | 121.01 | 6.64 | 0.13 g/t Au + 0.90 g/t Ag | 12.51% |
Thor-222 | 118.94 | 127.87 | 8.92 | 0.20 g/t Au + 2.00 g/t Ag | 9.25% |
Thor-221 | 77.88 | 87.54 | 9.66 | 0.34 g/t Au + 8.00 g/t Ag | 4.02% |
Thor-223 | 45.08 | 53.95 | 8.88 | 0.17 g/t Au + 5.28 g/t Ag | 3.19% |
Thor-224 | 30.24 | 37.19 | 6.95 | 0.25 g/t Au + 12.1 g/t Ag | 2.01% |
Thor-225 | 18.90 | 25.45 | 6.55 | 0.23 g/t Au + 5.71 g/t Ag | 3.80% |
Thor-225 | 26.61 | 32.16 | 5.55 | 0.14 g/t Au + 16.85 g/t Ag + 0.18% Pb + 0.35% Zn | 0.80% |
Thor-226 | 34.57 | 40.21 | 5.64 | 0.11 g/t Au + 4.79 g/t Ag (+ 0.03% Pb + 0.37% Zn) | 2.00% |
Thor-219 | 157.01 | 157.65 | 0.64 | 0.22 g/t Au + 47.07 g/t Ag + 0.08% Cu + 0.09% Pb + 0.43% Zn | <1% |
Thor-110* | 8.84 | 11.28 | 2.44 | 0.20 g/t Au + 62.13 g/t Ag + 0.04% Cu + 0.13% Pb + 1.32% Zn | <1% |
Thor-101* | 22.56 | 30.12 | 7.56 | 0.16 g/t Au + 1.49 g/t Ag | 9.64% |
*-Incidental Thunder Zone Intercepts (2008)
**-Numbers may vary due to rounding
Significance of VLF-EMAnomalies
The high-grade polymetallic mineralization(‘Type-A’) is identifiable with EM-VLF anomalies despitesub-cropping below the rockslide. Although the 2021 drilling wasrestricted to two roads (200 & 300), the VLF-EM anomalies continuemuch further to the northwest. These untested VLF-EM anomalies arealmost certainly related to high-grade polymetallic mineralizationfound in drill holes Thor-220, 224, 225 and 226 and are high priorityexploration targets.
Comment
John Gardiner, President and CEO states “In 2021,Taranis was able to successfully find the Thunder Zone in part using alinked porphyry-epithermal geological model. The limited drillingshows that the high-grade portions of the Thunder Zone are thickeningto the north-northwest under Thor’s Ridge. This is an excitingdevelopment at Thor because over 100 years of previous explorationsuggested the Thor Resource ended at Blue Bell, but it obviouslycontinues to the northwest under a rockslide. Taranis has alreadypermitted and constructed roads that will allow it to test the ThunderZone further to the northwest.
In conjunction with the airborne survey that is plannedfor early May to further refine our knowledge about the possibleporphyry target at Thor, we are positioning our exploration efforts toexpand the size of the Thor deposit”.
Qualified Person and QualityControl
Exploration activities at Thor were overseen by JohnGardiner (P. Geol.) who is a Qualified Person under the meaning ofCanadian National Instrument 43-101. Drill core is logged and sawedonsite, and one-half is retained for reference and further analyticalwork including specific gravity determinations. The remaining halfcore is delivered by Taranis via courier to Bureau Veritas in Vancouver, BritishColumbia. Bureau Veritas is an ISO 9001 certified analyticallaboratory. Taranis inserts standards every 10 th sample forquality control in addition to the stringent internal checks completedat Bureau Veritas. Samples are dried, crushed, split and pulverized atthe Vancouver location, and analyzed for silver, copper, lead, zincand related trace elements done by modified aqua regia digestion withICP finish. Gold is analyzed using a 30-gram fire assay with ICPfinish.
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. 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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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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