Significant Gold Results from Surface at Mt Stirling
Perth, April 12, 2021 AEST (ABN Newswire) - Torian Resources Ltd (
ASX:TNR) is pleased to advise that recent drilling results continue to extend the Mt Stirling Gold System over ~1.1km of Strike, ~300m at depth, and it remains open in multiple directions.
Highlights:
- The interpreted strike of the Mt Stirling gold system exceeds 1.160km with Mt Stirling Main Zone; Hanging Wall and Viserion lodes all remaining open along strike and down-dip.
- Assay results and footprint continue to track on par and are consistent with regional significant discoveries, e.g. St Barbara's (ASX:SBM) 4.8Moz Gwalia Mine and Saracen's (ASX:SAR) 3.8Moz Thunderbox Mine, with the Mt Stirling Gold System remaining open in all directions.
- Torian awaiting results from 3 drill holes to be incorporated to the interim Resource Estimate; in addition to 11 SE Phase 2 drill holes; 16 holes at Stirling Well and 19 holes from Diorite, with results forthcoming.
- Mt Stirling Regional targeting has identified numerous Priority 1 and Priority 2 targets along four key structural corridors; Viserion Shear (3.4km); Wonambi Shear (2.2km); Ursus Fault (2.5km) and Blue Jacket (2.2km) for immediate follow-up exploration including AV drilling.
- Torian is now fully funded to conduct its 50,000m drilling campaign in 2021.
Torian's Executive Director Mr Peretz Schapiro said "Cracking 1km of Strike at Mt Stirling represents a significant milestone for our company. With each batch of results received, it becomes clearer and clearer to us that we're sitting on something quite substantial at Mt Stirling. We have demonstrated that we are 'on the system', with our immediate task being to define the actual footprint of Mt Stirling, as it continues to remain open along strike and depth.
Should results confirm our interpretation of a shear-hosted gold system that continues at depth, for considerable down-dip depth, it would mean that Mt Stirling's multiple gold structures continue to have the potential to depth and resemble that of regional operating gold mines e.g St Barbara's (ASX:SBM) 4.8Moz Gwalia Mine and Saracen's (ASX:SAR) 3.8Moz Thunderbox Mine, given it remains open in all directions.
Whilst we were frustrated at having to delay the resource update, in hindsight it is clear that we made the correct decision to delay, as the estimate will now include this set of excellent results. Had we opted to not delay the resource estimate update, these assays would not have been included.
Results received continue to fill us with confidence that when our interim resource estimate is completed later this month, it will result in a significant update to our tonnage and gold ounces at Mt Stirling. The interim resource will provide the Company with strong fundamental backing as we continue our journey to develop Mt Stirling into a Gold Camp.
In addition to attempting to prove up a larger footprint at Mt Stirling itself, we will soon be actively following up with other high priority targets in the region. For instance, there have been historical gold intercepts 1.2km NW and along strike from Mt Stirling. We are excited about a potential connection between Mt Stirling Well and Mt Stirling. We will be following up on the Blue Jacket prospect to the east, which has historical gold intercepts alongside some deep historical shafts, in addition to following up on the newly discovered eastern zone at Mt Stirling and the prolific Ursus fault (Figure 11*). We are also looking forward to follow up work on Diorite, particularly around the high grade historical mines and soil and rock chip anomalies.
2021 is shaping up to be an exciting year for our Company as we anticipate significant news flow over the coming weeks and months. We eagerly await the remaining results from Mt Stirling, some of which will feed into our resource upgrade, in addition to the results from 18 drillholes at Stirling Well, 19 exploratory drill holes at Diorite and the continued exploration of our Mt Stirling and Diorite projects.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/Y938EB21
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.
| ||
|
