Torian Resources Limited's (ASX: TNR) ongoing drilling campaign at its flagship Mt Stirling Project in Western Australia's Eastern Goldfields has returned further significant additional gold intercepts, continuing to extend mineralisation beyond previous resource boundaries.
Ahead of announcing a new Total Mineral Resource Estimate (MRE) within weeks, the company has now completed 18,938 of Reverse Circulation (RC) infill and extension drilling at MS Viserion.
The Mt Stirling Project hosts a current JORC compliant total mineral resource estimate of 118,400 gold ounces1 and lies 8km northwest of Red 5's (ASX:RED) 4 million oz King of Hills gold mine, which has produced more than 1 million ounces of gold to date. Torian has targeted multiple gold zones and targets, and is pleased to report the following recent significant gold intercepts: Drill data continues to be compiled and validated. A further 8 MS Viserion drill holes are awaiting assays, with down-hole density surveying of selective drill holes already carried out. Stirling Well assays are pending for 13 extensional drill holes. A total of 48 drill holes are expected to be included in updated MRE.
After a really smooth run of timely results, unfortunately there have recently been some technical issues with the photon assaying at the labs adding some extended timeframes to recently reported and current lab jobs. These have now been rectified, and the final MRE assays are on track to be reported within the next two weeks.
This pushes final compilation of assay data back, however does allow for the maximum number of drill holes to be included into the eagerly anticipated MRE; now expected in midMay. Torian's Executive Director, Mr Peretz Schapiro said the latest batch of drilling results have further increase the Company's confidence in the MS Viserion Gold System at the Mt Stirling Projects ahead of the upcoming resource update and an Optimisation Study thereafter.
'The most exciting part of the results we have been receiving recently is that we have identified a multitude of structural prospective down-dip and along plunge gold target zones at MS Viserion for continued resource ounce discovery and expansion post the delivery of the anticipated resource upgrade,' Mr Schapiro said. Mr Schapiro said final results from the Skywing prospect are expected in the next week or so with follow up drilling re-commencing at the high grade Estera and Tyrannus targets where significant assays were previously returned. The Company also wishes to advise the market that it will no longer report on its REE projects at the same time that it reports on its gold projects following the recent significant discovery. This will enable the market to more easily digest the two different sets of updates. More updates on the REE projects will be forthcoming in coming weeks Skywing
The re-interpretation of Mt Stirling Central Zone to flat easterly dipping lode(s) has resulted in 24 pierce points over 450m strike defining the newly discovered 'Skywing' lode(s). These pierce points have been obtained from existing drilling, which has brought into play most intercepts which were outside of the previous MS MRE of May 2021. Skywing lode(s) vary from 1-2m true width and provide an immediate prospective shallow open-pittable interpreted extents (800m x 220m; from surface). This will be drill tested with 40x40m drill spacing towards the Wonambi Shear with 3,550m of RC drilling planned; with the first phase of 1800m going towards testing the mineralised model in order to commit to a 2nd phase of drilling which will complete the program. Of significant interest at Skywing, is that Au grades increase in grade towards the east on every section. (Other than supergene enrichment close to surface on western extents of interpreted shallow easterly dipping flat lodes). It is highly unusual that the Skywing lode(s) exhibit such Au homogeneity and increasing grades towards the Wonambi Shear. Although modest ounces, modelled Au grade, increasing with depth and easterly appreciation could multiply scale potential. Any increase in width will also have this effect. Skywing also demonstrates potential for repeated flat lodes; alike to the Stirling Well stacked lode model, in addition to prospective spaced-out occurrences that further drilling will seek to unveil. Detailed logging will also confirm saprolitic v primary gold and provide sufficient data for interpreted modelling. Given shallow nature of the mineralisation and planned drilling, assay results from Skywing are anticipated to fast-track the prospect's inclusion into the optimisation study. Skywing lode(s) extension drilling has progressed with 42 drill holes for 2082m completed with results to be compiled and reviewed. Further extensional drilling will focus on down-dip and along strike continuity of mineralisation.
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About Torian Resources
Torian Resources Ltd (ASX: TNR) is a highly active gold and rare earths exploration and development company with over 400km-2 of tenure in Western Australia's Eastern Goldfields region, near the mining town of Leonora. All projects are nearby to excellent infrastructure. Torian's flagship Mt Stirling Project hosts a current JORC compliant total mineral resource estimate of 118,400 gold ounces2 and neighbours Red 5's King 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. Rare Earths with an extremely high ratio of the significant critical and valuable Heavy Rare Earths (HREEs) to Total Rare Earths (TREEs) have been discovered throughout clays and regolith horizons at Yttria at Mt Stirling. Yttria has a high ratio of HREOs to TREOs and hosts all five most critical REEs; Dysprosium / Terbium / Europium / Neodymium and Yttrium, with significant anomalous concentrations of Scandium.
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.' 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.