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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Torian Resources Ltd    TNR   AU000000TNR0

TORIAN RESOURCES LTD

(TNR)
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Torian Resources Limited (ASX:TNR) Mt Stirling Phase 1 Drilling Complete & Phase 2 Targeting

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06/30/2020 | 11:58pm EDT

Perth, Australia, July 1, 2020 - (ABN Newswire) - Torian Resources Limited (ASX:TNR) is pleased to advise of the broad nature of mineralisation across the Mt Stirling block (Figure 1*) identified in its preliminary eight-hole drill program. The Company is highly encouraged by these first results from the green fields exploration program. The results confirm the exploration model and the data collected is invaluable for planning in future drilling campaigns.

Drilling was designed to test the continuity of the Stirling Main Zone alone strike and down dip (MSRC-026 to 028), and to test the South Zone to determine if the mineralisation was present in the sub-surface. Results obtained will refine targeting of the larger Phase 2 drill program which Torian expects to begin in Q3 2020.

Main Zone: Holes MSRC-026 to 028 intercepted very wide (30m to 50m) gold bearing mineralisation (Figures 2 and 3*). This demonstrates that the Main Zone has continuity at depth and remains open along strike to the northwest and southeast. Future drilling will continue to define the strike length of the zone and test the deeper extensions of the deposit.

South Zone: Holes MSRS-031 and 032 returned low-grade narrow intercepts (5m to 9m) (Figure 4*). This demonstrated this zone has limited potential to the northwest and future drilling needs to target the southeast extensions, towards the RED 5 claim line approximately 500m away, to determine if the zone will improve in width and grade. See Table 1* for a full breakdown of all assays.

Torian Chairman Mr Louie Simens said, "These assays have increased our confidence in the scale of mineralisation at the Mt Stirling Block, particularly at the Main Zone. Our next task is to vector in on the zones that contain higher grade gold. We have identified a strike length of 1km and it remains open at depth. The target is compelling, and these results have been vital in the planning for a larger Phase 2 drill program, preparations for which are well advanced and which Torian expects to commence in the near term.

With almost 13 Moz in resource located across Red 5's King of the Hills, St Barbara's Gwalia and Saracen's Thunderbox mines, all in our immediate neighbourhood in the Leonora district, we are confident that this region is a great place to be looking for new major discoveries as we undertake our systematic exploration approach across the entire project area."

Diorite mapping and sampling program completed

On the Diorite Block, mapping, prospecting, and sampling has been completed which focussed on the historic Diorite King Mine and Diorite Queen mines and to continue further target generation. The focus of this campaign was as follows (Figure 5):

- Explore, locate and sample the 15 known showings contained within the Diorite historic mining camp (red triangle*) with a focus on the historic 73g/t Au [grade sourced from Mindat.org] Diorite King Mine and Diorite Queen mines;

- Explore a number of the high priority targets identified by Southern Geological Consultants (blue hatched boxes); and

- Investigate the Iron Formation lithologies (red lines) within the Diorite Block to determine if these units have any potential to host Archean BIF gold mineralization. BIF gold deposits have been a historic major producer within the Archean of Canada (aka 5.0 Moz Au Musselwhite Mine in Northern Ontario).

A total of 105 rock chip and 157 soil samples have been collected from the Diorite Block and dispatched to ALS Kalgoorlie for geochemical analysis with assay results pending. Digital mapping of the Diorite Block is now in progress. Assay results are likely to begin to be received and announced in the next few weeks.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/I2CO22XU


About Torian Resources Limited:

Torian Resources Ltd (ASX:TNR) is a gold exploration and development company with an extensive and strategic land holding comprising eight projects and over 400km2 of tenure in the Goldfields Region of Western Australia.

Torian's flagship project, Zuleika, is located along the world-class Zuleika Shear. The Zuleika Shear is the fourth largest gold producing region in Australia and consistently produces some of the country's highest grade and lowest cost gold mines. Torian's Zuleika project lies north and partly along strike of several major gold deposits including Northern Star's (ASX:NST) 7.0Moz East Kundana Joint Venture and Evolutions (ASX:EVN) 1.8Moz Frogs Legs and White Foil deposits.

Torian's other projects include the strategically located Mt Stirling and Malcolm Projects in the Leonora region (near Red 5's King of the Hills Project), where it recently completed updated Mineral Resource Estimates and preliminary scoping studies, and a suite of other projects in the Kalgoorlie region including Credo Well JV Zuleika JV, Bonnie Vale, Gibraltar and Mount Monger/Wombola.

Contact:

Louie Simens
Non-Executive Chairman
info@torianresources.com.au

Copyright (C) 2020 ABN Newswire. All rights reserved., source Press Releases English

Stocks mentioned in the article
ChangeLast1st jan.
RED 5 LIMITED -2.17% 0.225 End-of-day quote.-31.82%
TORIAN RESOURCES LTD 0.00%End-of-day quote.0.00%
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