Mt Stirling Gold Camp Drilling Update
Perth, June 1, 2020 AEST (ABN Newswire) - Torian Resources Limited (
ASX:TNR) is pleased to announce the completion of its Phase 1 RC drilling program, targeting extensions of mineralisation contained within the Stirling Block at the Mt Stirling Gold Camp (Figure 1*) at depth and along strike. Assay results will be released to the market as they become available.
Planning for a much broader Phase 2 drilling campaign will begin following analysis of assay data from Phase 1.
Equipped with new geological concepts (ASX 15 April 2020), Torian has completed its Phase 1 drilling program aimed at testing for extensions of mineralisation along strike and at depth, of targets that were identified during the re-examination of the Stirling RC database. The best intersection from previous drilling was contained within RC hole MSRC001 which returned 2.99 g/t over 35m including 48.00 g/t over 2m (refer ASX announcement 28 April 2020). A similar intersection was seen in MSRC002 yielding 0.71 g/t over 39m including 2.09 g/t over 4m (ASX 28 April 2020) (See Figure 1*). The Company's review of the historical database also highlighted that historical intersections contained broad envelopes of halo gold mineralisation associated with higher-grade intersections.
Additionally, during re-examination it was noticed an additional open intersection is contained within hole MSRC-024 located 350m southeast of the main zone of mineralisation. This intercept yielded 2.34 g/t over 10m including 5.10 g/t over 2m (ASX 28 April 2020). This intersection also appears to be spatially associated with the higher-grade rock chip results. On the 18th of May 2020 the Company announced that drilling at MSRC-025 had intercepted 274m of quartz-carbonate veining containing pyrite and ending in mineralisation at end of the hole.
Assays from MSRC-025 were sent to the lab soon after hole completion with results now imminent. Assay results from the remaining seven holes will be announced to the market as they are received and interpreted by the Company.
An aggressive Phase 2 drilling campaign is now being planned to follow up on open intersections, testing further at depth and along strike on the Stirling Block as well as scout testing on the Diorite Block.
The Mt Stirling land position (Figures 3 and 4*) is divided into two blocks. 1) Stirling Block and 2) Diorite Block together forming the Mt Stirling Gold Camp.
1) The focus on the Stirling block is to drill 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 mineralisation at the Gwalia Mine (Figure 5*).
2) The immediate focus of the Diorite block will be mapping and sampling utilising systematic exploration techniques to further locate high priority drill targets. RC drilling in the near term will then test these targets.
On the Diorite Block, mapping and prospecting has begun, focusing on the historic Diorite King Mine and Diorite Queen mines (Figure 2; sourced from Mindat.org) and to continue further target generation. The focus of this campaign is as follows (Figure 2*):
- Explore, locate and sample the 15 known showings contained within the Diorite historic mining camp (red triangle) with a focus on the historic 73g/t Au [grade sourced from Mindat.org] Diorite King Mine and Diorite Queen mines.
- Explore a number of the high priority targets identified by Southern Geoscience 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 5Moz Au Musselwhite Mine in Northern Ontario).
Torian Chairman Mr Louie Simens said, "Torian firmly believes that Mt Stirling has the potential to host a world-class discovery, hence why we are accelerating our systematic exploration activities.
Our Phase 1 exploration drill program at Mt Stirling was designed to test the down plunge on the significant previous intercept of 35m @ 2.99 g/t at the Main Zone, as well as the extent of the mineralisation at the South Zone. These are just some of the many targets property-wide that we intend to be following up as we work to give our shareholders increased exposure to significant exploration upside across the Mt Stirling Gold Camp throughout 2020 and beyond.
Pending assay results from our Phase 1 drilling program - due shortly, we envisage an aggressive Phase 2 drilling program at the Stirling block to further test the extent of the mineralisation at depth and along strike.
Torian is also embarking on a systematic, property-wide mapping program, the key focus of which will be on the Diorite Block containing the historical Diorite King and Diorite Queen mines, which have never been followed up on until now.
Having established a fantastic team of experienced geologists we are confident that this region is a highly prospective location to be looking for large gold discoveries. The Mt Stirling Gold Camp is located within the prolific Leonora region, with the Stirling Block in particular located along the prolific Ursus Fault. This region has recently produced over 14Moz, with Sons of Gwalia, Tower Hill, Thunderbox, Harbour Lights and more recently the Gwalia Mine being some of the key deposits. Red 5's (ASX:RED) King of the Hills mine is also in our immediate vicinity.
We are extremely excited with the projects we have and the drilling planned. In addition to anticipating assays from the Phase 1 drilling as well as field mapping and sampling ongoing at Diorite, assay results are also pending from the Credo Project Joint Venture. These projects, combined with our Zuleika JV Project, located in the worldclass Zuleika Shear and the Mt Monger project which sits adjacent to Silverlake's (ASX:SLR) flagship Mt Monger mine, presents four opportunities for a major re-rating of the Company.
We look forward to keeping the market updated on results and developments during this transformative period for Torian."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/B0C58ADL
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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