Mt Stirling Assays Uncover New Gold Mineralised Zone
Significant gold results of assays received from four further holes from phase 1 of the Mt Stirling drilling campaign and an update on the ongoing diamond drilling campaign at Mt Stirling which has intercepted a significant wide zone of lode material.
Eastern gold zone discovery
Gold mineralisation has been discovered ~60m east of Mt Stirling Main Zone on section 1600N, with significant intercepts of 1m @ 1.22 g/t Au (from 29m MSRC046) and 1m @ 3.93 g/t Au (from 108m MSRC047) which remains open along strike and down-dip (Figure 1*).
Phase 1 drilling results
Further assays from section 1600N have also returned significant width and mineralisation of:
- 7m @ 1.20 g/t Au (from 137m MSRC046);
o inc 1m @ 2.90 g/t Au (from 140m) and
- 10m @ 0.64 g/t Au (from 148m MSRC046);
o inc 1m @ 1.33 g/t Au (from 156m);
- 10m @ 0.69 g/t Au (from 251m MSRC047); and
o inc 1m @ 1.20 g/t Au (from 252m).
The above holes are located down-dip of recently reported MSRC045 results of 14m @ 3.02 g/t Au from 51m including 6m @ 5.90 g/t Au from 54m and 1m @ 21.34 g/t Au from 55m (ASX announcement 27/01/21) (Figure 1*).
Assays from 1640N have returned significant results of:
- 2m @ 1.92 g/t Au (from 107m MSRC048);
- 4m @ 2.07 g/t Au (from 55m MSRC048);
o inc 1m @ 2.86 g/t Au (from 58m);
- with MSRC049 down-dip adding a further 5m @ 1.80 (from 126m); and
o inc 1m @ 3.96 g/t Au (from 130m) (Figure 2*).
Diamond drilling intercepts
Phase 3 drillhole MSRD005 (section 1960N) has intercepted a significant ~5m (true width) wide zone of lode material (from 261.36 - 271.00m) adding a further ~120m extension directly along strike and down-dip of previous NW high grade MSRC061 intercepts of 5m @ 4.42 g/t Au from 73m inc 1m @ 6.07 g/t Au from 77m, with assay results expedited.
Torian's Executive Director Mr Peretz Schapiro said "As we have been saying for some time, the geology at Mt Stirling has indicated to us that the gold system there is much larger than what was originally defined. We have continued to affirm this assumption with the discovery of yet another gold mineralised zone to the east of the Main Zone at Mt Stirling, adding another dimension to what is shaping up to be quite a significant gold discovery.
Additionally, the current round of results received from Mt Stirling continues to add tonnage and ounces and are significant for a potential increase to the global grade of the resource.
We are additionally encouraged by what looks to be a significant continuation of the predicted gold system at depth, with our diamond drillers encountering significant lode material adding a further ~120m extension to the resource.
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.
The ongoing flow of high-grade results intercepted during our drilling campaign continues to justify our confidence in Mt Stirling, in that it is a much larger gold system than originally defined, with the system now exceeding 600m of strike and ~250m at depth. We anticipate that further results from our ongoing drilling program will continue to intercept economic grade gold as we have demonstrated that we are 'on the system'.
In addition to extending the strike, Torian's drilling has also intercepted grade above earlier reported historical drill hole intercepts which were used in the Company's previous resource estimate. All the above (increase in strike, depth, and historical grade) gives us great confidence that when our interim resource is completed in the first quarter of this year, will result in a significant upgrade to our tonnage and gold ounces.
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 results from an additional 14 drillholes from Phase 1 of the Mt Stirling program, along with results from 18 drillholes at Stirling Well, 21 exploratory drill holes at Diorite and the results from Phase 2 and the continuing phase 3 at Mt Stirling which now includes extensional diamond drilling."
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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.
Torian Resources Limited