Mt Stirling Viserion Delivers High-Grade Gold Results
Perth, Feb 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 extension (in-progress with significant high grade Au assays received); and
o Skywing gold targets (in-progress)
o High priority targets at Tyrannus (assays received, primary gold confirmed); further drilling planned
o Hydra (assays received, primary gold confirmed); further drilling planned
o Estera (high grade Au assays received); further planned drilling
o Stirling Well extension;
The Company anticipates releasing further results from its ongoing drilling campaign throughout the rest of February and March, with samples from multiple drill holes already at the lab 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 multi-element and structural targets across the project. Focus over the last week continues across the highly prospective Mt Stirling Central regional reconnaissance lines.
A key priority of the current drilling campaign has been to target 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 anticipates that this is likely to increase the global project Au grade, expand the resource base and provide valuable data and confidence to a 2022 Q1 Optimisation Study.
As already disclosed to the market, an updated global MRE for the Mt Stirling Gold Project is on track for the end of Q1 2022. (Subject to drilling efficiency and lab timelines). 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 has secured the services of three drilling contractors currently drilling throughout this month. All three are presently onsite, in addition to an AV rig currently drilling on site.
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 unlocking value from the Mt Stirling / Viserion gold system.
Torian Executive Director Mr Peretz Schapiro said "The Mt Stirling / Viserion gold System continues to deliver excellent results for our company.
Both the grade and width of today's gold results bode exceptionally well for a potential resource upgrade in both size and confidence later this quarter. Additionally, we are encouraged by the impact that these results may have on the underground mining potential of the system, which will be considered in our upcoming optimisation study.
It is really exciting that despite a significant amount of drilling over the last ~15 months we are still yet to define the bounds of the Mt Stirling / Viserion system, which remains open at depth and open along more than ~1.2KM of strike.
Over the last couple of weeks, we have received numerous requests from shareholders to hold a webinar to explain our HREE (Heavy Rare Earth Elements) discovery in layman's terms as well as a general discussion about the REE industry. We are currently in the process of finalising a time and format for this event and will update shareholders as soon as something has been confirmed.
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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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