Drilling Contract Awarded for Mt Stirling Gold
Perth, April 30, 2020 AEST (ABN Newswire) - Torian Resources Limited (
ASX:TNR) is pleased to announce the engagement of a drilling contractor Precision Exploration Drilling (PXD). PXD's expertise in RC drilling will assist with the Company's progression of the Mt Stirling Gold Camp. PXD have recently come off the Red 5 Ltd (ASX:RED) drilling program and have valuable experience being presently located in the area saving both time and mobilisation costs.
Equipped with the new geological concepts (ASX 15 April 2020) that have been further elaborated on in this announcement, Torian is planning an aggressive new wave of exploration programs for the Mt Stirling land position (Figures 5 and 6*).
The land position will be divided into two blocks.
1) Stirling Block and 2) Diorite Block
1) The focus on the Stirling block will be drilling along strike and down plunge to test the systems at depth. Torian's hypothesis is that this system may run to depth similar to the mineralization at the Gwalia Mine (Figure 1*).
2) The focus of the Diorite block will be mapping and sampling utilizing systematic exploration techniques to further locates high priority drill targets. These targets will be tested by RC drilling upon completion of the company's systematic exploration efforts.
In addition to completing a new round of RC drilling, an aggressive campaign of prospecting and mapping will be carried out. The focus of this campaign is as follows (Figure 2*):
- Explore, locate and sample the 15 known showings contained within the Diorite King historic mining camp (red triangles below*).
- Explore a number of the high priority targes identified by Southern Geological Consultants (blue hatched boxes*).
- Investigate the Iron Formation lithologies (red lines) within the Diorite Block to determine if these units have any potential to host Archean BIF gold mineralisation. BIF gold deposits have been a historic major producer within the Archean of Canada (aka 5.0 Moz Au Musselwhite Mine in Northern Ontario).
Torian Chairman Mr Louie Simens said, "We are very pleased with the capabilities demonstrated by Precision Exploration Drilling and look forward to the mobilisation of their rig to Mt Stirling from the Red 5 Ltd (ASX:RED) site. PXD is a professional outfit and we look forward to working with them on the Mt Stirling Gold Camp in 2020 and beyond."
Testing the down plunge on the significant intercept of 35m @ 2.99 g/t could be one of many discoveries on the property we intend to follow up and gives our shareholders more exposure to exploration upside throughout 2020 and beyond across the Mt Stirling Gold Camp alone.
Together with drilling, we will also embark on a property wide systematic mapping program as we move through our systematic approach for discovery. A priority focus will be placed on the Diorite prospect that contains the historical Diorite King and Diorite Queen mines.
We have now kicked off our 3-phase exploration approach (detailed in the announcement) with the work in each phase to overlap each other and we expect to get started within a week.
The Mt Stirling project is located within the prolific Leonora Gold district in the Eastern Goldfields, with Red 5's King of the Hills, St Barbara Gwalia and Saracen's Thunderbox, being in our immediate neighbourhood. We are confident that this region is a great place to be looking for new major discoveries.
The Company is in a strong financial position and we'll keep the market updated on our exploration efforts."
The following 3 phase prioritised systematic exploration program will be executed:
Phase 1: Commence a program of aggressive prospection, geophysical, and geochemical testing over the Mt Stirling, and Ursus fault Zones within the Stirling Block expanding out for the JORC resource area. Focus will be given to 2nd and 3rd order faults structures and splays, as these tend to host the majority of tonnes in Archean lode gold deposits. First round of a reconnaissance level prospect program on the Diorite Block to be undertaken.
Phase 2: Complete a phase of drilling at the Mt. Stirling deposit to delineate extension to the oxide mineralisation and drill a 3 -5 diamond holes below the proposed pit to determine if there is any down plunge tonnage potential to the oxide mineralisation within the sulphide facies. Samples will be use in petrophysical testing to better understand the mineralisation and plan geophysical programs going forward.
Phase 3: Undertake a full-scale reconnaissance level prospect program in the Diorite Block.
Southern Geoscience Consultants presented Torian with a study that highlights 42 priority targets to follow up on with 20 plus of these targets contained within the Diorite Block. Our first priority is the re-discovery the century old Diorite King and Diorite Queen mines. These historic mine will be mapped out in detail once re-discovered. After the prospecting program is completed the geophysical and geochemical tools will be deployed to develop new drill targets followed by a major drill campaign within the area.
As announced on 15 April 2020, based on the structural hosted nature of the Mt Stilling mineralisation and the association with mafic and ultramafic rock types, it is now hypothesised by Torian that the Mt Stirling mineralisation could be an analogy to the Larder Lake-Cadillac Break hosted gold deposited located within the Superior geological sub providence of Ontario. This style of mineralising is hosted by bands of intermingled ultramafic and mafic rocks within the Larder Lake-Cadillac Break. In this scenario vast lengths of strike on the "Break" can host large economic deposits. In addition, these Achaean deposits tend to have limited strike lengths of ~0.5 Km or less but can contain significant down plunge tonnage potential to over 1.0 km or more. These types of structural "Breaks" are best thought as of a "string of pearls" with each pearl representing the potential to host a 500,000 oz plus gold deposit. The Kerr-Addison Mine on the Larder Lake-Cadillac Break hosted over 12 million oz of Au, a significant historic producer of gold. The Ursus Fault Zone contained within the Mt Stirling land position may be very similar in character to the Larder-Lake Cadillac Break of Ontario.
As further confirmation for this hypothesis, Torian is looking to the nearby Gwalia Mine as an analogy for the potential deposit geometry to be found within the Mt Stirling land position (Figure 5). Gold mineralisation at Gwalia occurs as a number of echelon, moderately east dipping foliation parallel lodes within strongly potassic altered mafic rocks and extends over a strike length of approximately 500m and to a vertical depth of at least 2,200m.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2140S4S8
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.
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