Highlights
Tyrannus Discovery Update
Tyrannus gold footprint has been extended to 1000m with Auger Vacuum (AV) selective arsenic-rich samples returning further gold intercepts from target zones 400m further NW
Tyrannus oxide mineralisation is expanding in both strike and width at multiple areas amenable to open pittable Resource(s)
Additional single-metre sampled zones from vertical AV drilling coincide with previously discovered surface pXRF arsenic (As) anomalous zones:
Broader zones have also been confirmed from asssays immediately surrounding previously reported (ASX 5th Octcober 2021) single meter sampled intercepts, with mineralised zones
Additional AV hole samples adjoining existing anomalous (>0.5 g/t Au) intercept zones have been submitted, with further assays (316) expected within 2 weeks
Tyrannus mineralisation has the potential to merge onto Mt
Tyrannus is located on an inflection of the Ursus Fault along strike of
20 RC drill holes at Tyrranus (from 39 planned) will immediately test 14 interpreted target zones, with permitting approved and earthworks in progress
Record date for New Options Rights Issue (
To date, arsenic anomalies has proven to be highly correlated with gold occurrences and provide a significant vectoring footprint to oxide and potential primary mineralisation. The Company has now planned a 39-hole RC drilling campaign to follow up on these AV gold results, with 20 holes to be drilled in coming weeks to test 14 interpreted target zones.
Torian's Executive Director Mr
Our exploration strategy ensures that the relatively more expensive RC holes are placed where we have already confirmed gold mineralisation. We are eager to end 2021 with a bang as we drill some of these exciting and highly promising targets. We are anticipating significant news flow over the coming weeks as we look forward to further results from the entirety of the
I would also like to thank our many option holders who have converted their options now to take advantage of the New Options Rights Issue. (ASX announcement
Auger Vacuum drilling provides clean uncontaminated samples of overburden and oxide material above hard rock basement that are able to be screened by pXRF for vectoring minerals and elements and contoured to map out dispersion of elements and minerals of interest.
AV provides a low impact and cost-effective method to detect out the leakage of mineralised systems onto interpreted structures and prospective lithological contacts.
Tyrannus Regional Update
Tyrannus gold footprint has been extended to 1000m with Auger Vacuum (AV) selective arsenic-rich samples returning further gold intercepts from target zones 400m further NW. Tyrannus oxide mineralisation is expanding in both strike and width at multiple areas amenable to open pittable Resource(s) due to the shallow and supergene nature of gold discovered adjacent to an inflection position of the NNW Ursus Fault.
Tyrannus Discovery Maiden RC planned drilling
20 RC drill holes (from 39 planned) will immediately test 14 interpreted target zones, with permitting approved and earthworks in progress. Several structural orientations are present at Tyrannus, with linking structures likely to also have some controlling influence on gold mineralisation dispersion. Drill orientation will commence targeting subvertical NE dipping interpreted lodes and also be able to identify flat-plunging orientations. A second phase will likely target NE striking mineralisation associated with NE shearing, with further exploration to target possible NNW striking SW-dipping interpreted mineralisation adjoining or originating from the Ursus Fault.
Tyrannus targets are structurally significant as they are situated on an inflection and splay junction of the Wonambi Shear termination onto Ursus Fault, 400m east of Mt Stirling gold mineralisation, and are highly likely to merge onto and along strike of Mt Stirling SE mineralised Au lode positions. There are 14 >0.10 g/t Au target zones with 7 > 1.00 g/t Au zones to be tested in upcoming RC drilling with earthworks advancing as permitting is also approved. Further gold assays from the recent AV drilling will aid positioning of planned drilling, and likely provide further target zones.
Contact:
Email: Info@torianresources.com.au
About Torian
Cautionary Note Regarding Forward-Looking Statements
This news release contains 'forward-looking information' within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget' 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or indicates that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be' taken, 'occur' or 'be achieved.' Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, Gold and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, permitting and such other assumptions and factors as set out herein.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in Gold prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; Page 19 of 25 /
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