Exploration Program Planned for Mt Monger - Wombola
Perth, July 17, 2020 AEST (ABN Newswire) - Torian Resources Limited (
ASX:TNR) is pleased to provide an update on the status of its 100% owned Mt Monger - Wombola project.
As announced in the Company's recent Rights Issue Prospectus, TNR intends to invest a significant portion of the funds raised on systematic exploration of the prospective Mt Monger - Wombola Projects which are located in close proximity to Silver Lake Resources' (ASX:SLR) flagship Mt Monger mine (Daisy Complex).
The Company's geological team are currently assembling all the historical drilling data on the Company's tenements and are progressing the interpretation of up to 50,000m of historical drilling results.
Torian Chairman Mr Louie Simens said, "As previously announced we have had fresh eyes digging into the extensive datasets across TNR's projects and early indications from desktop analysis have yielded significant indicators of potential for further discoveries at the Mt Monger - Wombola projects.
We are embarking on a property-wide systematic exploration effort at the Mt Monger - Wombola Project which enfolds much of Silver Lake Resources (ASX:SLR) flagship Mt Monger Mine.
We are also delighted that our JV partner Dampier, (ASX:DAU) have announced a major drilling program at our jointly held Zuleika Gold Project with an aim of rapidly defining JORC compliant resources.
Torian is a company with excellent projects, in the right locations, next to some major operating mines, of which management is committed to systematically explore. We look forward to updating the market on the results of our exciting exploration programs across our multiple prospective gold projects."
Torian's Mount Monger Project
Torian's Mount Monger Project is comprised of two distinct areas "Wombola" and "Mount Dam" (Figure 1*). The Mount Dam area is located approximately 11km to the southeast of Wombola area. Figure 1* shows Torian's Mount Monger tenement outlines and current gold prospects (blue labelled boxes) and major mines and gold resources owned and developed by Silverlake Resources Limited Mount Monger Project - Daisy Complex (red dots with SLR's mine/resource name and current JORC compliant resource in kilo-ounces or million-ounces gold).
Review of Historical Exploration at Mount Monger- Wombola Project area
The continuing desktop review of Torian's Mount Monger Project - Wombola area has so far uncovered 7,356 historic drill holes with up to 50,000 metres of drilling within Torian's tenements.
Figure 2* shows Torian's Wombola tenements within the Mount Monger Project, historic drill hole collars and their close proximity to the historic Wombola mining pits. Multiple drilled gold prospects have been identified within Torian's tenements, "Providence", "Providence Southwest", "Minnie", "Hoffmann", "Rainbow", "Lords" and "Ludlow".
Wombola Area - Providence Prospect - Initial Target
An initial priority target has been identified with significant historical RC drilling and some diamond core drilling around the Providence Prospect of Torian's Wombola tenement area (Figure 4*). Providence is along strike from the adjacent historical Wombola Dam and Wombola open-cut mining pits to the northeast (Figure 3*) and current Silver Lake's Mineral Resources (ASX:SLR) announcement entitled "Mineral Resources and Ore Reserves Statement" dated 27 August 2019.
Review of drilling data at the Wombola area is ongoing, as is historic soil geochemical rock chip and sampling, the outcome of which will be announced when further exploration results of this area become available.
Review of Historical Exploration at Mount Monger Project - Mt Dam area
The desktop review of the Mount Monger Project - Mount Dam area (Figure 1*) is also continuing. Torian's Mount Dam area is located 11km to the southeast of the Wombola area. There are two known gold prospects within the Mount Dam tenements; Three Emus and Tommies Dam. A review of historic exploration comprising of drilling as well as geochemical rock chip and soil sampling will be announced when as soon as analysis is completed.
The following three phase systematic exploration program will be executed at Mt Monger:
Phase 1: Continue thorough review of all historical exploration data and assays (drilling and geochemical sampling), commence a program of aggressive prospection, geological mapping, geophysical, and geochemical testing over the Mt Monger project area.
Phase 2: Complete a scout RC drilling program at Mt. Monger to delineate mineralised zones and to follow-up any identified gold intercepts from historical drilling. Samples will be used to better understand the mineralization and plan geophysical programs going forward.
Phase 3: Undertake a full-scale reconnaissance level prospect program at the Mt Monger tenements with the view of establishing a much broader drill program. RC drilling of identified geochemical rock and soil prospects
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/98VBATAB
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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