Highlights:
- Step out drill results confirm depth extensions of the known deposit on the Mt
- Assays from MSRC-025, the first of the 8-hole program, returned grades of up to:
o 4m @ 8.84 g/t (including 33.10 g/t over 1.0 m)
o 24m @ 1.26 g/t (including 2.89 g/t over 7.0 m)
- Results demonstrate that
- Remaining seven holes (MSRC-026 to MSRC-032) all intercepted wide widths of quartz-carbonate veins hosting Pyrite and are open at depth at end of hole
- Assay results from the remaining seven holes from the Phase 1, 2000+m RC program designed to test down dip / along strike extensions of historical intercepts are due shortly (Figure 2*)
- Historical intersections being followed up by this program include 35m @ 2.99g/t Au (including 2m @ 48g/t Au) and 39m @ 0.71g/t Au (including 4m @ 2.09g/t Au) (Refer release 28/4/20)
- Planning for a Phase 2 aggressive drilling campaign on the Stirling Block underway
- The Mt
- Reconnaissance activities have commenced on the Diorite Block with the historic 73g/t Au [grade sourced from Mindat.org]
- The Mt Stirling project is one of Torian's four key projects.
RC hole MSRC-025 contains over 240m of continuously mineralised rocks consisting of quartz-pyritecarbonate having anomalous gold values and ore grade intersections of up to 33 g/t Au. Within this run there were two high grade sections: 4.00m @ 8.84 g/t (including 33.10 g/t over 1.0m) and 24.0m @ 1.26 g/t (including 2.89 g/t over 7.0m). The first intersection is a continuation of the 48 g/t over 2m intercepted in hole MSRC-001 drilled in 2016, which until now had not been followed up (refer ASX release 28/4/20); whereas the second intercept correlates with the broader intercept, also observed in hole MSRC-001, that returned a value of 2.99 g/t over 35m (Figure 1*). See Table 1* for a full breakdown of all intercepts for MSRC-025.
With gold now intercepted over an additional strike length 100m below the prior result of 35m @ 2.99g/t Au, this hole confirms Torian hypothesis that the mineralisation contained within the Stirling deposit does contain down-dip continuity. This bodes well for future drilling and for building resource tonnages, as there is now a high degree of confidence that there could be significant depth extensions to the deposit, similar to the way that mineralisation occurs down plunge at the
The Company is delighted to report the remaining seven holes drilled (MSRC-026 to MSRC-032) intercepted quartz-carbonate veins hosting Pyrite and is open at depth at end of hole as shown in Table 2*. Based solely on visual inspection, Pyrite is known to host gold in the Leonora Goldfields, the Board and the Competent Person deems it appropriate to disclose the wide intercept in holes MSRC-026 to MSRC-032 outlined above and notes that there is not enough evidence to suggest that any gold or other minerals will be present at this stage. The company will update the market immediately upon assay results received and reviewed. The company will make results available as soon as they are received.
Torian Chairman Mr
This eight-hole drill program was the first drilling the ground has seen in four years. Testing the down plunge of the significant historical intercept of 35m @ 2.99 g/t could be one of many discoveries property wide which we will follow up on in this and subsequent drill programs.
A priority focus will also be placed on the Diorite Block, to the south of the Stirling Block, that contains the historical Diorite King and Diorite Queen mines as well as additional mapping to identify further drill targets on the block. The drill program and additional reconnaissance activity based on our new geological interpretations of the Mt
With almost 13 Moz in gold endowment located across
We look forward to keeping the market updated on progress and further results as they come through."
Historical Data Review
As announced on
Importantly, it was observed that an additional open intersection is contained within hole MSRC024 located 350 m southeast of the main zone of mineralization. This intercept yielded 2.34 g/t over 10m including 5.10 g/t over 2m. This intersection also appears to be spatially associated with the higher-grade rock chip results.
On the Diorite Block, mapping and prospecting has begun, focusing on the historic
- 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]
- Explore a number of the high priority targets identified by
- 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
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/HD3IYM32
About
Torian's flagship project, Zuleika, is located along the world-class
Torian's other projects include the strategically located Mt Stirling and Malcolm Projects in the Leonora region (near
Contact:
Non-Executive Chairman
info@torianresources.com.au
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