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Torian Resources Limited (TNR.AX) New Wishbone Yttrium Discovery at Mt Stirling Project

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Torian Resources Limited
Torian Resources Limited

Torian Resources Limited (TNR.AX) New Wishbone Yttrium Discovery at Mt Stirling Project

Perth, Australia, May 3, 2022 - (ABN Newswire) - Torian Resources Limited (ASX:TNR) has reported an additional new rare earths discovery at its Mt Stirling Project in Western Australia after identifying further Yttrium oxide mineralisation in close proximity to its recently announced Yttria clean heavy rare earths elements (HREE) prospect.

Surface pXRF identified a 1.3km strike at the Wishbone prospect near the Arktos Fault approximately 2.5km north-west of Yttria. Subsequently auger vacuum (AV) drilling confirmed a cluster of nine discrete Yttrium (Y) contour anomalies ranging from 100ppm to a peak of 296ppm Y. These are all likely to be interlinked and range in strike from 140m to 350m.

Combined, Wishbone and Yttria HREE mineralisation has a potential strike of around 3.6km. Both surface pXRF and AV drilling will continue to be used to delineate prospective mineralised corridors for reverse circulation (RC) and further AV extensional and infill drilling. Full details of scope of this extensive drilling campaign will be presented to the market in coming weeks.

At this time, extensional drilling continues to expand Wishbone mineralisation on a 160m x 40m drill spacing, with AV drilling also targeting the ~1km strike extension between Yttria and Wishbone.

Samples to confirm full spectrum rare earth elements (REE) assays and total rare earths and yttrium oxidation (TREYO) are expected within three weeks. The Company understands there to be a general correlation between elevated copper, cobalt and nickel with yttrium supporting the interpretation that yttrium in the regolith was derived from a mafic and ultramafic source. This explains why the mineral system is so devoid of uranium and thorium. The elevated zinc and yttrium suggest that the source of these metals was an alkaline intrusion. This is an important observation as these intrusions are recognised as primary hosts for rare earth element and other critical metal mineralisation.

As has been previously announced the market, following a short hiatus over the Easter and ANZAC day public holidays, the Yttria Mineralogical study being conducted by the University of Queensland (UQ CHEMSCAN) continues, with favourable preliminary results being compiled for a market update in the coming weeks.

The aforementioned, an extensive infill and extensional RC and AV drilling programs are currently being planned, so as to extend the REE mineralisation and deliver on a maiden JORC Resource by end of Q3 2022.The Company is currently awaiting permitting for the RC program across 9 tenements, with drill contracts in place for remainder of 2022-23.

In addition an ongoing systematic surface pXRF survey continues to test an interpreted ~7.5km of REE prospectivity.

Torian's Executive Chairman Mr Paul Summers, provided the following detailed summary* on the Company's recent activity and on the significance of today's announcement.

Torian is entering the most exciting period in the Company's exploration history.

"Our gold exploration program at our Mt Stirling Project is due to deliver extra ounces later this month while several months of further exploration and analysis has considerably increased the board's enthusiasm and confidence in our REE discovery at Yttria and now Wishbone.

In consultation with our exploration manager Claudio Sheriff-Zegers and REE consultant Professor Ken Collerson, to date, we've found no negatives at Yttria while continuing to gain a deeper understanding of the prospect's uniqueness, size and quality, on an international scale.

*To view the detailed summary, please visit:
https://abnnewswire.net/lnk/RK64WF78


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

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