Torian Resources Limited (Torian or the Company) is pleased to release the results of its June 2020 rock chip and soil sampling programme on its 100% owned Diorite Block.

Excellent high grade gold results have been returned from soils and rock chip samples.

Torian Executive Director Mr Peretz Schapiro said, 'Our recent reconnaissance soil and rock chip sampling programme has now produced a cluster of large gold anomalies within the Diorite Block. Of particular encouragement, is the fact that most of the higher-grade rock chip and soil results were sourced in the vicinity of the historic 73 g/t Diorite King mine [grade sourced from Mindat.org] and other adjacent historic producing mines.

These assays increase our confidence that we are looking in the right areas, with our next task to vector in on the zones that contain higher grade gold.

The collation of the current programme; geological reconnaissance and mapping recently completed and historic soil and rock chip samples; now provide Torian's geological team with a pathway forward to define exploration targets and commence an exploration drilling programme once permits are granted. We aim to begin drilling at the Diorite Block in Q4 2020.

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

We look forward to keeping the market updated on progress.'

Exploration Planning

The Company's geological team will now begin to plan an initial drilling campaign on the Diorite Block. The soil and rock chip samples will be used in conjunction with gold path-finder elements including arsenic, bismuth, molybdenum, tellurium, antinomy and tungsten to define drill targets over the Diorite Block. Further details as to the precise nature of the campaign will be announced to the market in due course.

Diorite Block - Soil Sampling Results

A total of 157 soil samples were collected from the Diorite Block. High grade gold assay values of 5.52 g/t Au (DIS002) and 3.2 g/t Au (DIS001) were collected adjacent to the historic Kiora and Meteor mines. A total of 89 soil samples returned anomalous gold values > 5 ppb.

Regional Geological Setting

Diorite Project tenements are located in the Archaean Yilgarn Craton within the deformed Leonora greenstone belt adjacent to the Raeside granite batholith. The Leonora area has a long history of gold mining and is the site of three large deposits: Sons of Gwalia, Harbour Lights, and Tower Hill. In terms of past gold production, Sons of Gwalia (115 t of gold) is the fourth largest deposit in the Yilgarn Craton and has been mined almost continuously since 1896 (WITT, 2001).

Lithologically, the Leonora district consists of mafic and ultramafic rocks, interbedded sedimentary units, felsic volcanic units, and late basinal sediments that are intruded by the Raeside Batholith to the west and the Bundarra Batholith to the northeast (Baggot, 2006). The structural geology of the Leonora district has undergone significant extension, compression, and orogenic collapse. This region is divided by several large shear zones including, the Ursus and Tarmoola Shear Zones within the main northwest-trending greenstone package and the Gwalia (Poker) Shear Zone on the eastern margin of the Raeside Batholith. These shear zones are all early in timing and occurred during a period of extension and uplift of the Raeside Batholith. They were re-activated as sinistral strike-slip shears during the subsequent period of compression (Jones and Witt, 2017).

Lithological and Structural Interpretation - Diorite Block

The lithology within the Diorite King tenement P37/8868 is dominated by the greenstone succession, which comprises: mafic volcanic rocks represented by fine-grained basalt (MB), intrusive mafic rocks constituted by medium to coarse-grained gabbro (MGB) and dolerite (MD), and ultramafic chlorite schist (USC) to a lesser extent. The dominant mafic lithology is weak-to-moderate weathering and presents manganese oxides, limonite, sulphides (predominantly bornite), and quartz veins, which may have formed in the fractures of the host rock.

Elongated and predominantly southwest-northwest direction granitoid bodies (FGR) intrude the greenstone sequence in the north-western and southern areas of the AOI. Following this direction, small BIF chert (SIF -SCT) units and quartz veins (QZ) have been mapped around. Besides, on the eastern side of the AOI, an extensive colluvial sheet wash plain overlying variably thick transported material.

The dominant strike of the stratigraphy is NE-SW with a sub-vertical dip (40-degree to 80-degree). The mafic units are weakly foliated, and it appears to be parallel with the strike of the stratigraphy. Quartz veining is evident in the vast majority of the ancient works, where its widths vary from millimetres to several tens of centimetres and are disrupted the mafic units vertically.

Gold Mineralisation

Gold mineralisation at the Diorite King group of mine workings is hosted by dolerite and metabasalts which strike NE-SW predominantly and associated with sub-vertical stockwork quartz. Other old gold workings in the Project Area occur along quartz veined contact zones between mafic intrusive and mafic schist units.

On the other hand, gold mineralisation at the Tarmoola Gold Mine which lies to the east of the Diorite King Prospect is associated with a quartz stockwork in ultramafic schist overlying a granitoid intrusion in the core zone of a folding closure. This association offers a model relevant to the future exploration of the Diorite King Project area.

Contact:

Louie Simens

Email: info@torianresources.com.au

About Torian

Torian Resources Ltd (ASX:TNR) is a highly active gold exploration and development company with an extensive and strategic land holding comprising six projects and over 400km-2 of tenure in the Goldfields Region of Western Australia. All projects are nearby to excellent infrastructure and lie within 50km of major mining towns. Torian's flagship Mt Stirling Project is situated approximately 40km NW of Leanora, and neighbours Red 5's Kind of the Hills mine. The region has recently produced approximately 14M oz of gold from mines such as Tower Hills, Sons of Gwalia, Thunderbox, Harbour Lights and Gwalia.

Cautionary Note Regarding Forward-Looking Statements

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.

Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward looking information is made as of the date of this announcement and the Company does not undertake to update or revise any forward-looking information this is included herein, except in accordance with applicable securities laws.

(C) 2020 Electronic News Publishing, source ENP Newswire