Growing Confidence In Resource Growth Potential
Torian Resources (ASX:TNR) has intersected significant high grade surface mineralisation at the Eastern zone at the Mt Stirling Project in Western Australia.
Executive Director, Peretz Schapiro, said number of multiple shallow mineralised gold intercepts which were not included in the recent Interim Mineral Resource Estimate (MRE) update warrant follow-up drilling.
Structural geological mapping and drill planning is advancing 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.
Mr Schapiro said that if the zone is found to be continuous, the Mt Stirling Gold system strike would exceed 2.25km.
“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,” Mr Schapiro said.
“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.”
Multiple significant shallow mineralisation hits includes:
- 2m @ 1.01 g/tAu from 2m;inc 1m @ 1.39 g/t Au from 3m
- 1m @ 1.58 g/t Au from 24m
- 2m @ 8.02 g/t Au from 1m;inc 1m @15.19 g/tAu from 1m
- 2m @ 1.24 g/t Au from 34m; inc 1m @ 1.72 g/t Au from 35m and 1m @ 1.10 g/t Au from 53m
- 1m @ 1.26 g/t Au from 41m
- 1m @ 1.98 g/t Au from 8m
- 1m @ 1.20 g/t Au from 49m;and 1m @ 1.01 g/t Au from 77m
Mr Schapiro said the Mt Stirling Gold System footprint continues to track on par and is consistent with regional significant discoveries, e.g. St Barbara’s 4.8Moz Gwalia Mine and Northern Star’s 3.8Moz Thunderbox Mine, with the Mt Stirling gold system remaining open in alldirections.
Mt Stirling Regional targeting has identified numerous Priority 1 and Priority 2 targets along fourkey 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.
