High Grade Results Uncovered at Mt Monger - Divine Prospect
As announced in the Company's recent Rights Issue Prospectus, the Company 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).
As previously announced (17 July and 31 July 2020) the Company's geological team are in the process of assembling and interpreting all the historical drilling data on the Company's Mt Monger tenements.
The previous announcements were focused on the Providence, Hoffman and Ludlow Prospects, with this announcement being focused on the Divine Prospect which is located along strike to the southwest from the high grade gold results from Providence Prospect.
High Grade Drilling Results Uncovered at the Divine Prospect within the Mount Monger Project - Wombola 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.
High grade historical drilling results have been uncovered at the Divine Prospect within Torian's Wombola Tenement Area (Figure 6). Divine is located along strike from the Providence Prospect and historical Wombola Dam and Wombola open-cut mining pits to the east as well Silver Lakes Resources' (ASX:SLR) current mineral resource. (SLR announcement entitled "Mineral Resources and Ore Reserves Statement" dated 27 August 2019).
Torian Executive Director Mr Peretz Schapiro said, "As previously announced we have had fresh eyes digging into the extensive datasets across our projects.
In particular, we have embarked 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. The area has produced more than 1.67Moz with more than 330,000 oz mined in the last 24 months alone. (Table 1*)
We continue to be encouraged by the fact that as we continue looking through and interpreting historical drill results, the number of high grade and significant gold intercepts uncovered increase at a healthy rate, indicating the potential for further discoveries. We anticipate that this may bode well for the continuation of the desktop works being undertaken on the Mt Monger project, which will ultimately lead to exploration drilling across those tenements.
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."
Review of Historical Exploration at Mount Monger Projects
The desktop review of the entire Mount Monger Project - Wombola and Mount Dam areas (Figure 7*) is ongoing. A review of historic exploration comprising of drilling as well as geochemical rock chip and soil sampling will be announced when 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 mineralisation 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:
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.
Torian Resources Limited