Drilling currently being conducted includes: Mt Stirling / Viserion extension (in-progress with significant high grade Au assays received) and Skywing gold targets (in-progress)
High priority targets at Tyrannus (assays received, primary gold confirmed); further drilling planned
Hydra (assays received, primary gold confirmed); further drilling planned
Estera (high grade Au assays received); further planned drilling
Stirling Well extension
The Company anticipates releasing further results from its ongoing drilling campaign throughout the rest of February and March, with samples from multiple drill holes already at the lab pending analysis in addition to results from future planned drilling. An additional 5,000m of AV drilling is currently underway to vector and expand the footprint of high-ranked regional
Focus over the last week continues across the highly prospective Mt Stirling Central regional reconnaissance lines. A key priority of the current drilling campaign has been to target the shallow portion of the Mt Stirling/Viserion gold deposit to be drill defined to JORC 'Indicated' category (880m strike x 125m depth) from surface 425m down to 300mRL. The Company anticipates that this is likely to increase the global project Au grade, expand the resource base and provide valuable data and confidence to a 2022 Q1 Optimisation Study.
As already disclosed to the market, an updated global MRE for the
In addition to the results from this current round of drilling, the upcoming MRE will include previously announced results that were not included in the
All three are presently onsite, in addition to an AV rig currently drilling on site. As has already been disclosed to the market, the Company has secured the services of Minecomp to conduct a pit optimisation study, to assess the economics and unlocking value from the Mt Stirling / Viserion gold system
Torian Executive Director Mr
Both the grade and width of today's gold results bode exceptionally well for a potential resource upgrade in both size and confidence later this quarter. Additionally, we are encouraged by the impact that these results may have on the underground mining potential of the system, which will be considered in our upcoming optimisation study.
It is really exciting that despite a significant amount of drilling over the last 15 months we are still yet to define the bounds of the Mt Stirling / Viserion system, which remains open at depth and open along more than 1.2KM of strike. Over the last couple of weeks, we have received numerous requests from shareholders to hold a webinar to explain our HREE (Heavy Rare Earth Elements) discovery in layman's terms as well as a general discussion about the REE industry. We are currently in the process of finalising a time and format for this event and will update shareholders as soon as something has been confirmed.
Contact:
Email: info@torianresources.com.au
About Torian
Torian's flagship
Although regional proximity to the World Class Mt Weld high grade Rare Earth oxide deposit, preliminary results indicate a likeness more fitting to Northern Minerals Browns Range Heavy Rare Earths Deposits, due to Yttria's high ratio of HREOs to TREOs and the presence of all five most critical REEs; Dysprosium / Terbium / Europium / Neodymium and Yttrium, with significant anomalous concentrations of Scandium.
Torian also holds 10.7% of
Torian is the Pastoral Lease holder of the 172,662 hectare
The station is also entitled to approximately
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.
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