(TheNewswire)
Estes Park, Colorado – TheNewswire - December 19, 2022 – TaranisResources Inc. (“Taranis” or the “Company”) [TSXV:TRO ] , [ OTC:TNREF] has reviewedfurther exploration results from the 2022 field season at its100%-owned Thor deposit located in British Columbia. This News Releasepertains to Broadview South, which hosts several interestinggeophysical anomalies that occur in close proximity to areas of knownmineralization; Broadview South is the first of three important areaswhich will be discussed in upcoming News Releases. Two cross-sectionsaccompany this News Release and can be found at the Company’swebsite www.taranisresources.com .
Broadview South
Broadview South is located at the southeast terminus of the ~2.5 kmlong Thor epithermal deposit and includes a blind conductivegeophysical feature called the South Tusk, which was previouslyidentified via airborne magnetotelluric survey. The South Tusk is asubsurface conductivity high that trends northwesterly through theBroadview Mine area. The depth of this feature is approximately 500 mbelow surface; it is a feature of great interest to Taranis because ofits proximity and connection to the Broadview deposit. Taranisconducted exploration work in this area in the summer of 2022,including magnetic and VLF surveying, NIR/SWIR scans, geologicalmapping, and petrology/geochemistry studies.
Overview
In 2022, a boulder field of intrusive rocks (diorite-monzonitecomposition) was uncovered west of the Broadview Mine. The majority ofthe large boulders were buried in soil and attempts to find the sourceof the boulders failed. Since the intrusive rocks have extremely lowmagnetic susceptibility (similar to the Max Mine porphyry) the sourceof these boulders could not be located with magnetic surveys. There isother evidence to support the interpretation that these intrusiverocks came from this area, including a VLF survey that identified asizeable subsurface conductive anomaly, and distinct hornfelsalteration of the Broadview Formation. The granitoid has very similarchemistry to intrusive rocks from the Max Mine, and Taranis has alsonoted widespread alteration in this area that is consistent withalteration zones about an intrusive. Minerals found in the areaidentified with a field spectrometer include garnet, pyroxene, copperminerals (such as volborthite, chrysocolla), stibnite, molybdenite,and iron hydroxides.
2022 Geophysics
VLF ground surveys were able to identify conductive bodies in thevicinity or the Broadview Mine, and these coincide with apparentconductivity features found in the magnetotelluric survey. The largeconductive feature is of interest because it connects the BroadviewCopper Pit with a much larger conductive anomaly at depth called theSouth Tusk Target. The Copper Pit is connected to the South TuskTarget by a feature called the Upper Target that has similarities tothe Ripper Fault discussed in the News Release dated November 28,2022. This weakly conductive feature extends down to 700 m below the surface where it flanks the South Tuskconductivity target. It should be noted the Ripper Fault hosts some ofthe highest-grade gold and silver mineralization known at Thor, and isalso known to postdate emplacement of the main epithermal lodes. Thelocation or the Broadview Vein system adjacent to the high-angle faultis identical to that recently discovered at the Great Northern Zone.It appears very likely that gold and precious metals have originatedfrom the South Tusk Target and have migrated into the Upper Target.
Ground magnetics showed that the area to the east of the conductivefeature has elevated magnetic signatures, and this is believed to bedue to alteration within the Middle Broadview Formation, a complexrock unit consisting of greywackes and volcanics.
Significance of South TuskTarget
While the geological source of the South Tusk conductive anomalyremains unknown, it does demonstrate a connected and close spatialrelationship to the Broadview Mine that warrants deep drilling. Largeconductive bodies can represent widespread sulfide mineralizationcharacteristic of bulk mineable precious/base metal deposits. Thepresence of unusual amounts of copper in the Broadview Mine area alsosuggest that the source is nearby, and proximal to its source. Boththe South Tusk and Upper Targets are completely covered by resistiveweathering rocks of the Broadview Formation.
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”).
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 |
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWSRELEASE.
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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