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Taranis Resources Inc.
Summary
| Project: | Thor | |
|---|---|---|
| Deposit: | Thor | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Lead-Zinc-Copper | |
| Date: | 8/16/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-8-2016: Taranis Resources Inc. announces an Exploration/Drilling Update report for its Thor deposit at the Thor project. Drilling results incl. 8.23m @ 0.84g/t Au, 125.5g/t Ag, 0.78% Pb, 0.68% Zn, 0.05% Cu from 35.20m. Lakewood, Colorado, August 16, 20 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: John Gardiner, Jim Helgeson (Internal) | |
| ABSTRACT: | Lakewood, Colorado, August 16, 2016 – Taranis Resources Inc. (the "Company") [TSX.V: TRO] is pleased to announce that the results of five NQ drill holes drilled on its Thor Project located west of the existing Ag-Au-Pb-Zn-Cu deposit. All of the holes were drilled in the footwall of the existing Resource, outside of the known NI 43-101 Resource and have conclusively shown that the sulfide lodes at Thor are folded into multiple parallel zones along the axis of the Thor Anticline that plunges shallowly to the northwest. The high-grade zones are tightly folded into a corridor at least one km long that is 100 m wide at surface, and dips moderately to the northeast along the east side of Great Northern and Broadview Mountains. All of the intercepts reported occur from surface to a maximum depth of 70 m below surface, but remain open at depth. Exploration is being focused on the central part of the Thor Anticline, where a number of recent high-grade gold discoveries have been made. These include the Gold Pit also located in the footwall of the deposit in an outcrop (52.4 g/tonne Au and 1,542 g/t Ag/2.04 m) and the SIF 2 Zone (30.59 g/tonne Au/17.55 m). At Thor, gold appears to be preferentially concentrated along the top of parasitic drag folds and anticline axes. | |
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