Torian Resources Limited (ASX:TNR) is pleased to advise that it has entered into an option agreement to acquire 100% of four tenements, including one granted mining lease. The tenements are located within Torian's Diorite Block at the Mt Stirling Gold Project, further strengthening the Company's exploration and development pipeline, and bolstering its land holdings in the highly sought-after Leanora gold fields.
The acquisition includes the Little Wonder prospect, host of the historical 563.01 g/t Little Wonder mine and the historical 201.55 g/t Kenelworth mine. The prospect is positioned approximately 2km to the south of the historic 73 g/t Diorite King Mine [grade sourced from Mindat.org] and other adjacent historic producing mines (Table 1 and Figure 7*).
Figure 1 shows the location of the Little Wonder granted tenements M37/1324, P37/9342 and P37/9343 included in the acquisition.
Figure 2* shows the location of the tenements under option as it relates to the Company's broader holdings at the Mt Stirling Gold Project.
Torian Executive Director Mr Peretz Schapiro said, "For some time now, our primary focus has been to systematically explore the Mt Monger Gold Project. Accordingly we have taken the opportunity to solidify our land holdings in the area and to explore some of the other high-grade historical mines in and around our tenements.
We were really pleased with the results of our recent (June 2020) reconnaissance soil and rock chip sampling programme at the Diorite Block, as it returned a cluster of large gold anomalies in and around high-grade historical mines. These assays increase our confidence that we are looking in the right areas, with our next task to vector in on the zones that contain higher grade gold.
The Little Wonder tenements includes the high grade historic 563.01 g/t Little Wonder Mine and the 201.55 g/t Kenelworth Mine [grade sourced from DMIRS]. The Little Wonder tenements are surrounded by our existing tenements (Figures 1 and 2*) and as such they have been on our radar for quite some time.
We are very pleased that we have been able to secure these tenements at this time, as the drill rig is currently operating nearby on the Diorite Block. This option agreement allows us to explore, including to conduct drilling, at these tenements, and our aim will be to do just that during the current drilling campaign. The size of planned drilling on the new tenements has yet to be finalised.
With almost 14 Moz in resource located across Red 5's King of the Hills, St Barbara's Gwalia and Saracen's Thunderbox mines, all in our immediate neighbourhood in the Leonora district, we are confident that this region is a great place to be looking for new major discoveries as we continue to deliver on our systematic exploration approach across the entire project area.
Our current drilling campaign has been progressing really well, with our first batch of samples from the Diorite East campaign, being prepared to be sent off to the lab for assaying.
We look forward to keeping the market updated on our progress, particularly in relation to the progress of the current drilling campaign."
The Company's geological team have commenced its current drilling campaign on the Diorite Block and hopes to continue to the Little Wonder Prospect. Further details as to the expanding nature of the current campaign will be announced to the market in due course.
*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.
Peretz Schapiro Executive-Director email@example.com
Torian Resources Limited
Copyright (C) 2020 ABN Newswire. All rights reserved.