(TheNewswire)
Estes Park, Colorado – TheNewswire - August 11, 2022 – TaranisResources Inc. (“Taranis” or the “Company”) ( TSX.V:TRO ) , ( OTC:TNREF ) has launcheddrilling and surface exploration campaigns on its 100%-owned“Thor” Silver-Zinc-Gold-Lead-Copper polymetallic project insoutheastern British Columbia.
Three Major ConductivityTrends
The airborne MT survey identified three major WNW-trending conductivefeatures that emanate from the west side of the NW-striking Elephantintrusive target, and are known as the Broadview South, Western Deeps,and Thunder North targets. The reason for the elevated conductivity ofthese features is unknown, but their spatial configuration suggeststhey are associated with large faults/intrusions that may hostsignificant concentrations of precious and base metals. Taranis isnearing completion of its field investigation on the Broadview SouthConductivity Target, and some of the field results are discussedbelow.
Broadview South ConductivityTarget
Line cutting, magnetometer and Very Low Frequency (“VLF”) surveyshave been completed over the Broadview South Conductivity feature. Theresults of this survey were able to identify deposits in/around themain Broadview Mine, but the VLF survey has also identified a strongbedrock conductor to the south of the Broadview Mine that waspreviously unknown. This conductor is faulted off from the mainBroadview Shaft area along a high-angle post mineral fault to thesouthwest 65 m. The NNW-striking conductor then continues to the SEfor at least 400 m where it merges onto the NW-striking BroadviewSouth MT anomaly. This area is of extreme interest to Taranis becauseit appears to mark the transition from the prospective ElephantIntrusive into the well-known Thor epithermal deposit.
Geologic Mapping andProspecting
One of the most distinctive characteristics of the Broadview SouthArea is a number of small hills in the area that are underlain by weakmagnetic anomalies. Contact metamorphic alteration has been identifiedin the siliclastic rocks and consists of widespread hornfelsingincluding porphyroblasts of a mineral tentatively identified ascordierite. This distinctive rock unit is referred to as ‘pebbledykes’ in the field by Taranis as they consist of quartz andcordierite eyes and is believed to be related to high-temperaturecontact metamorphic alteration of the Broadview Formation.
Taranis has also identified a small boulder field of ‘granitoid’rocks but has been unable to locate the source of the boulders.Prospecting efforts are ongoing to locate the bedrock source of thefloat as this would constitute definitive evidence for an underlyingintrusive at Thor. The granitoid rocks contain many similarities tothe epithermal deposit including pronounced epidote alteration,including sphalerite that suggest a causal link to the epithermaldeposit.
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.
Status of Private Placement announcedJune 28, 2022
Pursuant to applicable TSX Venture Exchange policy, Taranis hasreceived an extension until September 9, 2022 for the closing of the2,000,000 flow-through unit private placement at a price of $0.20 perflow-through unit originally announced on June 28, 2022. Eachflow-through unit will consist of one flow-through share and one sharepurchase warrant, with each warrant to entitle the holder to purchaseone non-flow-through share at a price of $0.20 for a period of twoyears from closing. Further information regarding this matter willbe disseminated in due courrse.
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 83,098,017 shares issued and outstanding(93,735,017 shares on a fully-dilutedbasis).
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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