Torian Resources Limited (ASX: TNR) has launched a 17,500m drilling campaign at the Mt Stirling Gold Project in Western Australia.
Drilling will include a planned combined 12,500m RC to test high priority Tyrannus; Hydra; Estera; Stirling Well; Mt Stirling Viserion and Skywing gold targets. An additional ~5,000m of AV drilling will continue to vector and expand the footprint of high-ranked regional Au; As; multi-element and structural targets across the project.
Three extensional holes @ Diorite North have already been completed (DIRC032-034 for 284m) with drilling (PDH77) now targeting interpreted down-dip extensions of Estera Lode.
In addition to proving up recent discoveries, a key priority of this campaign will be to upgrade the confidence level of an increased amount of the Mt Stirling-Viserion Resource to Indicated, and to potentially add additional ounces by extending the strike and selective depth of the gold system.
Approximately 40% of the planned meters will target the shallow portion of Mt Stirling- Viserion gold deposit to be drill defined to 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 and provide valuable data and confidence to a 2022 Q1 Optimisation Study, and expand the Resource base.
Torian is targeting for 50% of the current Inferred Resource ounces to be converted to the Indicated category.
The company is aiming for an updated global MRE for the Mt Stirling Gold Project at the end of Q1 2022. In addition to the results from this next round of drilling, the MRE will include previously announced results that were not included in the May 2021 MRE.
In an effort to expedite the drilling programme the company has secured the services of two drilling contractors who will be drilling through this coming December and January.
The company has also secured the services of Minecomp to conduct a pit optimisation study, as it takes another step towards assessing the economics and unlocking value from the Mt Stirling / Viserion gold system.
“Today is a landmark day for our company as we embark on perhaps our most ambitious phase of drilling at the Mt Stirling Gold Project,” Executive Director, Peretz Schapiro, said.
“The last six months or so of continued regional exploration has de-risked this next phase of drilling and put us in the best possible position for this campaign’s ultimate success, which we intend to be realised with a new global MRE increasing both the size and confidence of
our resources across the project.
“This is in addition to us also working to prove up multiple high priority gold targets across the Mt Stirling Gold Project.
“As we look to move this campaign along as quickly as possible, we are pleased to announce that we have secured the services of two drill rigs at the project, which will both operate over the coming months. In addition, we are pleased to see that the turnaround time now for assays at the lab has considerably come down from the 12 to 16 week turnaround that we were seeing earlier in 2021.
“We look forward to keeping the market updated with our progress as we work towards increasing the value of the Mt Stirling Gold Project, thereby providing increased strong fundamental backing to the project.”
For further information please visit: https://www.torianresources.com.au/
