Mt Stirling / Viserion further Significant Intercepts
Perth, Mar 3, 2022 AEST (ABN Newswire) - Torian Resources Limited (
ASX:TNR) is pleased to provide progress of its 17,500m drilling campaign (RC and AV combined) at the Mt Stirling Project. Drilling currently being conducted includes:
o Mt Stirling / Viserion infill and extension (completed and extended with significant high grade Au assays received)
o Skywing gold targets (paused, with results to be compiled and reviewed)
o Stirling Well extension commenced (12 planned DHs)
o Estera (high grade Au); further drilling planned
o High priority targets at Tyrannus (significant assays received); further drilling planned
o Hydra (significant assays received); further drilling planned
Commenting on today's announcement, Torian's Executive Director, Mr Peretz Schapiro said "We have been exceptionally pleased with the progress of the current drilling campaign, as results continue to expand tonnage and global resource ounces and extend the gold system beyond the previous resource boundaries. Structural and Gold system plunge observations are now guiding extensional drilling which will be included into our upcoming Global MRE.
Turn around efficiency from drilling to delivery of results during the campaign has also been extraordinary. Credit to our geological and logistics team, expertly led by Mr Claudio Sheriff-Zegers, for this remarkable turnaround.
We are also really encouraged by the progress made on our REE project at Yttria, as we continue to extend the prospective strike of the system. We look forward to imminently updating the market on the fusion analysis as well as our next steps in the development of this exciting Heavy Rare Earths system".
The Company anticipates releasing further results from its ongoing drilling campaign throughout the rest of March, with samples from multiple drill holes already at laboratories pending analysis in addition to results from future planned drilling.
An additional ~5,000m of AV drilling is currently underway to vector and expand the footprint of high-ranked regional Au (Gold); As (Arsenic); Y (Yttrium), and multielement and structural targets across the project. The focus of AV drilling over the last week continues across the highly prospective Mt Stirling Central Yttria regional ~3km prospective strike reconnaissance lines, towards Wishbone Prospect.
A key priority of the current drilling campaign has been completed. This targeted the shallow portion of the Mt Stirling / Viserion gold deposit to be drill defined to JORC 'Indicated' category (~880m strike x ~125m depth) from surface 425m down to 300mRL. The Company also anticipates that this is likely to increase the global project Au grade, expand the resource base and provide valuable data and confidence towards the 2022 Optimisation Study which will immediately follow the MRE.
With shallow resource drilling now complete, further deeper planned drilling will target resource and gold system interpreted plunge extensions as system remains open at depth and significant strike on all sections.
Due to the success of the drilling campaign thus far at Mt Stirling / Viserion, additional extensional drilling of the gold system over and above the initially planned 42 drill holes has been undertaken . As such, the Company anticipates that all data necessary for an updated global MRE will be delivered to its resource consultants by the end of March, with the MRE now scheduled to be delivered in mid-April. In addition to the results from this current round of drilling, the upcoming MRE will include previously announced results that were not included in the May 2021 MRE.
In an effort to expedite the drilling programme the Company had secured the services of three drill contractors, and will continue drilling throughout this month and into April.
Two RC rigs are presently onsite, in addition to an AV rig, with all three actively drilling.
As has already been disclosed to the market, the Company has secured the services of Minecomp to conduct a pit optimisation study, to assess the economics and to unlock value from the Mt Stirling / Viserion gold system.
Skywing
The re-interpretation of Mt Stirling Central Zone to flat easterly dipping lode(s) has resulted in 24 pierce points over ~450m strike defining the newly discovered "Skywing" lode(s). These pierce points have been obtained from existing drilling, which has brought into play most intercepts which were outside of the previous MS MRE of May 2021.
Skywing lode(s) vary from 1-2m true width and provide an immediate prospective shallow open-pittable interpreted extents (~800m x 220m; from surface). This will be drill tested with 40x40m drill spacing towards the Wonambi Shear with ~3,550m of RC drilling planned; with the first phase of 1800m going towards testing the mineralised model in order to commit to a 2nd phase of drilling which will complete the program.
Of significant interest at Skywing, is that Au grades increase in grade towards the east on every section. (Other than supergene enrichment close to surface on western extents of interpreted shallow easterly dipping flat lodes). It is highly unusual that the Skywing lode(s) exhibit such Au homogeneity and increasing grades towards the Wonambi Shear.
Although modest ounces, modelled Au grade, increasing with depth and easterly appreciation could multiply scale potential. Any increase in width will also have this effect.
Skywing also demonstrates potential for repeated flat lodes; alike to the Stirling Well stacked lode model, in addition to prospective spaced-out occurrences that further drilling will seek to unveil.
Detailed logging will also confirm saprolitic v primary gold and provide sufficient data for interpreted modelling.
Given shallow nature of the mineralisation and planned drilling, assay results from Skywing are anticipated to fast-track the prospect's inclusion into the optimisation study.
Skywing lode(s) extension drilling is paused with 31 of 36 planned drill holes complete with results to be compiled and reviewed. Drilling will resume once rig availability from Stirling Well and Estera drill programs, within 3 weeks.
*To view tables and figures, please visit:
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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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