|
Torian Resources Limited (ASX:TNR) Mt Stirling Assays Confirm Significant Gold System Extension
|
 Torian Resources Limited (ASX:TNR) is pleased to announce that assay results received from the Mt Stirling Gold Project continue to confirm strike extension of the Mt Stirling Gold System to the north-west, with the system now confirmed over ~680m strike.
Section 1920N (Figure 1*) assays have returned significant gold mineralisation of:
- 3m @ 0.41 g/t Au from 81m (MSRC087)
- 9m @ 3.75 g/t Au from 88m
o inc 6m @ 5.07 g/t Au from 90m
o and 1m @ 12.36 g/t Au from 93m
- 1m @ 0.86 g/t Au from 109m
- 4m @ 5.99 g/t Au from 133m (MSRC088)
o inc 2m @ 10.58 g/t Au from 134m
- 1m @ 0.99 g/t Au from 143m
The Company has now named the NW high-grade lode of the Mt Stirling Gold System the "Viserion lode".
Diamond and RC drilling is ongoing at the Mt Stirling Gold Project, with the objective of continuing to test and define the depth and strike of the gold system with an immediate five extensional drill holes for ~2000m planned and in-progress.
Furthermore, assays from section 1680N (Figure 2*) have returned significant gold mineralisation of:
- 4m @ 2.22 g/t Au (from 23m MSRC050)
o inc 1m @ 5.19 g/t Au (from 25m)
- 4m @ 0.55 g/t Au (from 31m)
o inc 1m @ 1.03 g/t Au (from 31m)
Torian's Executive Director Mr Peretz Schapiro said "As we have been saying for some time, the geology at Mt Stirling has indicated to us that the gold system there is much larger than what was originally defined. Earlier this week we continued to affirm this assumption with the discovery of the eastern mineralised zone.
Today we take another important step in this direction with the results from the NW confirming that we are unearthing a giant, much larger system than we had previously anticipated.
Importantly, the system still remains open to the NW, and we eagerly await further results from this domain as we continue to expand this system.
The discovery of this significantly mineralised gold lode in the NW (now to be referred to as the Viserion Lode) confirms that the recently defined (pXRF) arsenic leaking structures (ASX announcement 03/02/2021) were an excellent indicator to vector in on gold mineralisation, confirming our hypothesis at the time. This gives us great confidence in our regional target generation strategy and in the geological and structural interpretation from our Senior Geologist Claudio Sheriff-Zegers. As such, we have expanded our field team and boosted our man-power to fast-track regional assessment and enhance further target generation. Torian has honed its exploration methods to prioritise over 200 targets, ensuring a pipeline of quality targets which will pave the way for further discoveries.
Furthermore, this significant discovery gives us the confidence to seamlessly continue the drilling campaign at Mt Stirling. Further assays will continue to confirm the breadth and predictability of the gold system, enabling Torian to proudly state that the drilling program has advanced to 'on-going' for the remainder of 2021.
Additionally, the current round of results received from Mt Stirling continues to add considerable tonnage and ounces which will significantly increase the global scale and grade of the resource.
We are additionally encouraged by what looks to be a significant continuation of the predicted gold system at depth, with our diamond drillers encountering significant Viserion lode material adding a further ~120m extension to the resource.
Should results confirm our interpretation of a shear-hosted gold system that continues at depth, for considerable down-dip depth, it would mean that Mt Stirling's multiple gold structures continue to have the potential to depth and resemble that of regional operating gold mines e.g St Barbara's (ASX:SBM) 4.8Moz Gwalia Mine and Saracen's (ASX:SAR) 3.8Moz Thunderbox Mine, given it remains open in all directions.
The ongoing flow of high-grade results intercepted during our drilling campaign continues to justify our confidence in Mt Stirling, in that it is a much larger gold system than originally defined, with the system now exceeding 680m of strike and ~250m at depth. We anticipate that further results from our on-going drilling program will continue to intercept economic grade gold as we have demonstrated that we are 'on the system'.
In addition to extending the strike, Torian's drilling has also intercepted grade above earlier reported historical drill hole intercepts which were used in the Company's previous resource estimate. All the above (increase in strike, depth, and historical grade) gives us great confidence that when our interim resource is completed in the first quarter of this year, will result in a significant upgrade to our tonnage and gold ounces.
2021 is shaping up to be an exciting year for our Company as we anticipate significant news flow over the coming weeks and months. We eagerly await the results from an additional 11 drillholes from Phase 1 of the Mt Stirling program, along with results from 18 drillholes at Stirling Well, 21 exploratory drill holes at Diorite and the results from Phase 2 and the continuing phase 3 at Mt Stirling which now includes extensional diamond drilling."
Eastern gold zone discovery
Gold mineralisation has been discovered ~60m east of Mt Stirling Main Zone on section 1600N, with significant intercepts of 1m @ 1.22 g/t Au (from 29m MSRC046) and 1m @ 3.93 g/t Au (from 108m MSRC047) which remains open along strike and down-dip (Figure 3*).
Diamond drilling intercepts
Phase 3 drillhole MSRD005 (section 1960N) has intercepted a significant ~5m (true width) wide zone of Viserion lode material (from 261.36 - 271.00m) adding a further ~120m extension directly along strike and down-dip of previous NW high grade MSRC061 intercepts of 5m @ 4.42 g/t Au from 73m inc 1m @ 6.07 g/t Au from 77m, and MSRC088 intercept of 4m @ 5.99 g/t Au from 133m; inc 2m @ 10.58 g/t Au from 134m with assay results expedited (refer ASX release 15/02/2021).
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/C06ORR06
Peretz Schapiro
Executive-Director
info@torianresources.com.au
|
|