New Era of Exploration at Mt Stirling Gold Camp
Perth, May 13, 2020 AEST (ABN Newswire) - Torian Resources Limited (
ASX:TNR) is pleased to announce drilling and other exploration activities have commenced at the Mt Stirling Gold Camp.
Equipped with the new geological concepts (ASX 15 April 2020) further elaborated on below, Torian is commencing an aggressive new wave of exploration program for the Mt Stirling Gold Camp (Figures 6 and 7*).
The Camp has been divided into two blocks, 1) Stirling Block and 2) Diorite Block
1) Stirling Block: Drilling is to be focused along strike and down plunge to test the systems at depth.
Torian's hypothesis is that this system may run to depth like the mineralisation at the Gwalia Mine (see Figure 6.0), i.e. 2,200 metres.
2) Diorite Block: mapping and sampling utilising systematic exploration techniques to further locate high priority drill targets. These targets will be tested by RC drilling in due course.
As announced on 28 April 2020, re-analysis of historical data revealed several deeper intersections in the Stirling system that were not followed up and remain open at depth. Furthermore, these intersections contained broad envelopes of halo gold mineralisation associated with higher-grade intersections. The best intersection was contained within RC hole MSRC001 which returned an intercept of 2.99 g/t Au over 35m, including 48.00 g/t Au over 2m (see section in Figure 1* and plan view in Figure 2*). A similar wide intersection was seen in MSRC002 which yielded an intercept of 0.71 g/t Au over 39m including 2.09 g/t Au over 4m.
Importantly, it was observed that an additional open intersection is contained within hole MSRC024 located 350m southeast of the main zone of mineralisation. This intercept yielded 2.34 g/t Au over 10m including 5.10 g/t Au over 2m. This intersection also appears to be spatially associated with the higher-grade rock chip results.
Given these observations, a new eight hole, 2,000m RC drilling program has commenced to follow up on these open intersections and to test mineralisation at depth (See Figure 4*). The Stirling Fault mineralisation is now broken up into two zones 1) Main Zone (Red) and 2) South Zone (Green). The next round of RC drilling will test both zones along strike and to depth with any positive results then followed up by additional drilling.
In addition to completing a new round of RC drilling on the Stirling Block, an aggressive campaign of prospecting and mapping will be carried out on the Diorite Block. The focus of this campaign is as follows (Figure 5*):
- Explore, locate and sample the 15 known showings contained within the Diorite King historic mining camp (red triangle) which historically produced at a grade of 73 g/t Au [sourced from Mindat.org].
- 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, "As previously announced we have had fresh eyes digging into the Mt Stirling and Diorite datasets, including geologists and geophysicist. We have now assembled an excellent team of people at Torian with vast experience influencing discoveries at Fruta del Norte, Hemlo Camp, Detour Lake, Red Lake and the Estelle Gold Camp, as well as geologists with local knowledge gained from experience working in the Eastern Goldfields.
This eight hole drill program will be the first drilling the ground has seen in four years. Testing the down plunge on the significant historical intercept of 35m @ 2.99 g/t could be one of many discoveries on the property we intend to follow up in this and subsequent drill programs. A priority focus will also be placed on the Diorite Block, to the south of Mt Stirling Block, that contains the historical Diorite King and Diorite Queen mines as well as additional mapping to identify further drill targets on the Block. The drill program and additional reconnaissance activity based on our new geological interpretations of the Mt Stirling Gold Camp could be a game changer for the Company and gives our shareholders more exposure to significant exploration upside throughout 2020 in an incredibly prolific gold province, host to several multi-million ounce mines in close proximity and beyond across the Mt Stirling Gold Camp alone, which sits adjacent to Red 5's (ASX:RED) tenure which hosts the King of the Hills (KoTH) mine.
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.
We look forward to keeping the market updated on progress and results."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/J5AU2BWK
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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