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Saracen Mineral Holdings Ltd.
Saracen Mineral Holdings Ltd.
Registriert in: Australien WKN: A0MN37 Rohstoffe:
Art: Originalaktie ISIN: AU000000SAR9 Gold
Heimatbörse: Sydney/Melbourne Alternativ:
Währung: AUD    
Symbol: SAR.AX Forum:

Torian Resources Limited: Phase 1 Assays Confirm High-Grade Extensions at Mt Stirling

03.02.2021 | 0:27 Uhr | ABN Newswire
Perth, Australia - Torian Resources Ltd. (ASX:TNR) is pleased to announce a significant high-grade gold intercept discovered ~80m NW of the current defined resource estimate area (Figures 1 and 4*).

First assays from the furthest Phase 1 hole of the North West extension (Section 1840N) MSRC061 returned significant results of 5m @ 4.42 g/t Au (from 73m), including 1m @ 6.07 g/t Au (from 77m).

These results confirm extension of Mt Stirling's strike of mineralisation by at least 80m to the NW.

Significantly, three additional NW extension Phase 2 drill sections, occur in direct NW strike of MSRC061 gold mineralisation intercepted, for a further 120m extension of interpreted mineralised strike.

These three additional NW extension sections have also all intercepted a second larger significant mineralised Shear Zone to the immediate West of MSRC061 intercept, with high levels of arsenic in sulphides, significant fuchsite, chlorite and biotite alteration, and up to ~26m down-hole intercept for an interpreted 10m true-width zone.

Torian has expedited processing of the central NW extension (Section 1920N) with MSRC087 and MSRC088 assays pending.

Further, of significance, the Project's first diamond drill hole MSRD001 has intercepted mineralisation directly down-dip from the high-grade Hanging Wall and Main Zones, which subject to assays, is expected to expand the resource estimate a further ~120m below the previous maiden resource.

The mineralisation observed in the diamond drill core is substantially similar to the up-dip mineralisation that hosted high grade gold intercepts of 4m @ 8.84 g/t Au (from 187m MSRC025); inc 1m @ 33.10 g/t Au (from 188m); and 17m @ 1.66 g/t Au (from 235m); inc 3m @ 5.17 g/t Au (from 235m); and 1m @ 9.2 g/t Au (from 236m) (Figures 2, 4 and Photo 1*) (refer ASX release 9/6/20).

Torian's Executive Director Mr Peretz Schapiro said "Our surface geochemistry and structural model implied that mineralisation continued along strike to the North West of Mt Stirling. Not only have these results extended the strike of the resource by at least 80m, they also coincide with recently discovered (pXRF) highly prospective arsenic leaking structures interpreted to be the surface expression of perhaps the centre of the Mt Stirling gold system.

As such, we eagerly anticipate receiving further results from the NW phase of our drilling campaign.

We are additionally encouraged by what looks to be a significant continuation of the predicted gold system at depth, with our diamond drillers encountering similar mineralisation directly down-dip from high grade gold intercepts in RC drillhole MSRC025 of up to 33.10 g/t Au.

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 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 18 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 3 at Mt Stirling which now includes extensional diamond drilling."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/8V8UAT0Q



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 Ltd.



Contact:

Peretz Schapiro Executive-Director info@torianresources.com.au

 
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