A total of 21 drill holes for 2,683m were drilled.
Encouraging results from gold intercepts associated with historical workings at the 'Unexpected Mine' prospect, and mineralised target horizon zone at Diorite East, warrant follow-up RC drill testing. Planned drilling will test the strike extensions of these recent results with an RC rig mobilising to the Project this week. Diorite sample results have taken considerable time to be reported as once submitted, samples were required to be retrieved from original laboratory and re-submitted to expedite the turn-around assay times due to processing bottle-necks at original laboratory.
Resource drilling samples were also prioritised ahead of Diorite reconnaissance drilling samples, compounding delays. Multi-Element pXRF results are still to be confirmed by selective laboratory analysis. Several copper anomalous values from mineralised zones (peak 1927 ppm Cu from 61m DIRC020) warrant further follow-up exploration.
Target generation work continues throughout the
Diorite East
A total of 11 drill holes were drilled for a total of 1254m. A new significant 460m target zone has been discovered with a peak 1m @ 2.19 g/t Au (from 8m DIRC006) and a further intercept 350m SE of 1m @ 0.96 g/t Au (from 80m DIRC009).
Diorite East shares structural and geological similarities to Mt Stirling-Viserion structural setting in that both are NW-SE shear zones situated sub-parallel to the regional significant Ursus Fault. The potential for mineralisation to significantly extend between and beyond reported pierce points warrants immediate follow-up RC drill testing.
Planned RC drilling will test immediate strike extension and down-dip continuity of mineralisation along interpreted shallow target zone.
A total of 10 drill holes were drilled for a total of 1,429m. Primary gold has been confirmed with a substantial intercept of 1m @ 4.66 g/t Au (from 109m DIRC014) obtained beneath the historical 'Unexpected Mine' workings.
Encouraging sub-surface intercept of 4m @ 0.47 g/t Au (from 4m DIRC012) was also obtained in this phase of drilling. The Company awaits these individual respective 1m split sample assays drilled immediately along strike from the historical workings.
Drilling targeted geochemistry and lithological contacts and not necessarily controlling structure that is likely to be the conduit for gold mineralisation. Planned drill angles will be optimised (as best fit to perpendicular) to transect interpreted structures likely to host mineralisation. Previous drilling also drilled too close to historical workings and target horizons, which has been counter-acted with proposed planning further away from immediate strike extent of interest, to improve follow up targeting and results.
These near surface intercepts confirm the mineralisation occurrence demonstrated by rock-chips DIR066 & DIR067 returning values of 9.04 g/t Au & 6.09 g/t Au respectively (reported ASX
Torian's Executive Director Mr
We are excited to further progress the exploration of the Diorite Block with another RC drilling campaign which is scheduled to begin this week.
We are also pleased to inform the market that we have recently switched labs and have now been assured of 1 month turnaround times; a marked improvement on what we have been receiving until this point.'
This announcement has been authorised for release by the Board.
Contact:
Email: info@torianresources.com.au
About Torian
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This news release contains 'forward-looking information' within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget' 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or indicates that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be' taken, 'occur' or 'be achieved.' Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, Gold and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in Gold prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalisation and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation.
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