Australia markets closed
  • ALL ORDS

    7,624.30
    +23.80 (+0.31%)
     
  • ASX 200

    7,368.90
    +9.90 (+0.13%)
     
  • AUD/USD

    0.7487
    -0.0064 (-0.85%)
     
  • OIL

    71.50
    +0.46 (+0.65%)
     
  • GOLD

    1,763.90
    -10.90 (-0.61%)
     
  • BTC-AUD

    48,331.40
    +355.59 (+0.74%)
     
  • CMC Crypto 200

    888.52
    -51.42 (-5.47%)
     
  • AUD/EUR

    0.6308
    -0.0028 (-0.44%)
     
  • AUD/NZD

    1.0787
    +0.0009 (+0.09%)
     
  • NZX 50

    12,551.93
    +10.73 (+0.09%)
     
  • NASDAQ

    14,049.58
    -114.22 (-0.81%)
     
  • FTSE

    7,017.47
    -135.96 (-1.90%)
     
  • Dow Jones

    33,290.08
    -533.37 (-1.58%)
     
  • DAX

    15,448.04
    -279.63 (-1.78%)
     
  • Hang Seng

    28,801.27
    +242.68 (+0.85%)
     
  • NIKKEI 225

    28,964.08
    -54.25 (-0.19%)
     

Torian Resources Limited (TNR.AX) Mt Stirling Significant Shallow Mineralisation

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·4-min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Torian Resources Limited
Torian Resources Limited

Torian Resources Limited (TNR.AX) Mt Stirling Significant Shallow Mineralisation

Perth, Australia, May 31, 2021 - (ABN Newswire) - Torian Resources Limited (ASX:TNR) (BER:CXB) report that multiple significant shallow mineralisation not included in recent Resource Estimate warrant follow-up drilling.

- These additional multiple shallow mineralised gold intercepts were not included in the recent Interim MRE update.

- Intercepts provide multiple follow-up, in-fill and extensional drilling opportunities with further Optimisation Studies to assess modelling and extraction potential.

- Ongoing drilling and forthcoming results may boost two further resource upgrades at the Mt Stirling Gold Project which are anticipated before the end of the year.

- Extensional and in-fill drill planning continues on mineral domains such as the Hanging Wall Zone lower segments, parts of the Viserion Zone, and other mineral zones which were not included in the Interim MRE Update due to sparse drill spacing and mineralised sample assays yet to be received and reported which may confirm continuity of further mineralised zones between drill holes and sections.

- Only 740m of strike incorporated into MRE from a total interpreted 1.16km strike of the Mt Stirling gold system with Mt Stirling Main Zone; Hanging Wall, Viserion lodes, and multiple shallow eastern gold mineralised zones all remaining open along strike and down-dip.

- Drill planning and further structural and geological mapping over the significant ~500m strike (>10ppm and up to 125ppm) arsenic surface anomaly Hydra mineralisation discovery 1.25 km further along strike to the NW of Viserion and is likely a surface expression of the Mt Stirling gold system.

- If continuous, the Mt Stirling Gold system strike would exceed 2.25km.

- Significant arsenic anomalies have also been defined (pXRF) ~200m SE and ~500m NW of Interim Resource Estimate boundary, implying continuity of the gold system to both the SE & NW.

- The Mt Stirling Gold System footprint continues to track on par and is consistent with regional significant discoveries, e.g. St Barbara's (ASX:SBM) 4.8Moz Gwalia Mine and Northern Star's (ASX:NST) 3.8Moz Thunderbox Mine, with the Mt Stirling gold system remaining open in all directions.

- Mt Stirling Regional targeting has identified numerous Priority 1 and Priority 2 targets along four key structural corridors; Viserion Shear (3.4km); Wonambi Shear (2.2km); Ursus Fault (2.5km) and Blue Jacket (2.2km) for immediate follow-up exploration including drilling.

- Torian is now fully funded to continue its 50,000m drilling campaign in 2021.

Torian's Executive Director Mr Peretz Schapiro said "The sheer amount of shallow gold mineralised zones that were not included in the recent resource, gives us great confidence, that we will be able to significantly increase the size of the resource in coming weeks and months as we follow up on these prospective targets.

The Mt Stirling gold system continues to remain open in all directions. In addition to the above mentioned follow up drilling, we continue to be encouraged by significant arsenic anomalies (pXRF; Figure 10*) including the Hydra surface expression some 1.2km NW and further significantly anomalous zones just 500m to the NW of Viserion, and to date, arsenic anomalies have correlated with gold mineralisation.

It is becoming increasingly apparent that the recent resource estimate is just the beginning of what promises to be an exciting future for Torian, as we have only just "scratched the surface" of the Mt Stirling Gold Project, with the Mt Stirling system being just one of dozens of high priority targets in the region.

The ongoing drilling at Mt Stirling, an exploration program at the green fields at Diorite to commence in coming weeks, a resource estimate due from Stirling Well in Q3 and an updated resource estimate from Mt Stirling later in the year will continue to generate strong news flow for our company, as we look to set ourselves up for long term success."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/7RO42DYJ


About Torian Resources Limited:


Torian Resources Ltd (ASX:TNR) is a gold exploration and development company with an extensive and strategic land holding comprising eight projects and over 400km2 of tenure in the Goldfields Region of Western Australia.

Torian's flagship project, Zuleika, is located along the world-class Zuleika Shear. The Zuleika Shear is the fourth largest gold producing region in Australia and consistently produces some of the country's highest grade and lowest cost gold mines. Torian's Zuleika project lies north and partly along strike of several major gold deposits including Northern Star's (ASX:NST) 7.0Moz East Kundana Joint Venture and Evolutions (ASX:EVN) 1.8Moz Frogs Legs and White Foil deposits.

Torian's other projects include the strategically located Mt Stirling and Malcolm Projects in the Leonora region (near Red 5's King of the Hills Project), where it recently completed updated Mineral Resource Estimates and preliminary scoping studies, and a suite of other projects in the Kalgoorlie region including Credo Well JV Zuleika JV, Bonnie Vale, Gibraltar and Mount Monger/Wombola.

Contact:

Peretz Schapiro
Executive-Director
info@torianresources.com.au

Source:
Torian Resources Limited

Copyright (C) 2021 ABN Newswire. All rights reserved.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting