Perth, Australia (ABN Newswire) – Torian Resources Limited (ASX:TNR) is pleased to announce that assay results received from the Mt Stirling Gold Project continue to confirm strike extension of the Mt Stirling Gold System to the north west, with the system now confirmed over ~760m strike.
Assay results from hole MSRD005 confirm ~120m Viserion lode significant extension at depth (-220m RL)
– 9.20m @ 2.99 g/t Au from 261m (MSRD005)
o inc 1m @ 6.88 g/t Au from 264m; and
o 1m @ 9.79 g/t Au from 273.50m
Viserion lode system dimension has significantly expanded to an interpreted ~300m x 120m from known drilled pierce points so far, with structural data confirming a significant inflection (further to the NW) from the Mt Stirling Main Zone.
Additionally, the grade tenor is consistently >100% above the global resource grade, with down-dip continuity likely to persist to significant depth.
Viserion assays from section 1960N (Figure 1*) and section 1920N (Figure 2*) have previously returned significant gold mineralisation of (refer ASX release 19 February 2021):
– 9m @ 3.75 g/t Au from 88m (MSRC087)
o inc 6m @ 5.07 g/t Au from 90m; and
o 1m @ 12.36 g/t Au from 93m
– 4m @ 5.99 g/t Au from 133m (MSRC088)
o inc 2m @ 10.58 g/t Au from 134m
Furthermore, assays from Mt Stirling Main Zone 1720N (Figure 4*) and 1760N (Figure 5) have returned significant gold mineralisation of:
– 5m @ 1.10 g/t Au from 125m (MSRC054)
o inc 1m @ 1.86 g/t Au from 128m
– 5m @ 3.05 g/t Au from 42m (MSRC056)
o inc 1m @ 5.65 g/t Au from 44m; and
o 4m @ 0.92 g/t Au from 32m
Mt Stirling Regional targeting has identified numerous Priority 1 and Priority 2 targets along four key structural corridors for immediate follow-up exploration including drilling:
– Viserion Shear (3.4km);
– Wonambi Shear (2.2km);
– Ursus Fault (2.5km) and
– Blue Jacket (2.2km)
These 4 structural corridors, provide in excess of 10km of prospective host stratigraphy and structural setting, and are immediately adjacent to known Mt Stirling mineralisation.
Conceptual, geochemical and structural targets will be tested in the coming months with the objective to extend and confirm multiple regional targets, to vector on anomalism and mineralisation for the next generation of gold resource(s).
Mt Stirling Well Phase 2 extensional drilling (35 RC holes) is scheduled to commence imminently. Particular focus will test the structural model of multiple stacked gold horizons at the prospect, and the systematic screening of sub-vertical to horizontal links between Mt Stirling and Mt Stirling Well gold systems, nearby both sub-parallel to Viserion Shear Zone and Nexus Fault Zone.
Mt Stirling mineralisation remains open, and the potential for further strike extension is evident. Multiple anomalous zones are also systematically being followed-up, which is also vectoring towards easterly and westerly anomalous and mineralised potential, with significant implications towards continued increase to Project tonnage and global resource.
Torian’s Executive Director Mr Peretz Schapiro said “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.
Our average grade intercepted to date, significantly exceeds the average grade of nearby regional gold mines, providing us with important optionality when it comes to processing our ore. We have the ability to utilise existing mills in the region with our higher grade feed, or even the potential to develop our own facility down the track.
These results continue to fill us with confidence that when our interim resource is completed later this month, it will result in a significant upgrade 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 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. 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/2KQ0ID91
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.
Source:
Torian Resources Limited
Contact:
Peretz Schapiro
Executive-Director
[email protected]