Torian Resources Limited (ASX:TNR) is pleased to announce the results from a further two sections (4 drill holes) from Phase 1 of the Mt Stirling drill program which drilled 31 RC holes for 5,767 metres (Figures 2 and 3*).
This phase confirmed and extended the Mt Stirling gold system over 480m strike, on 40m centre drill spacings.
Torian's Executive Director Mr Peretz Schapiro said "These results continue to confirm our theory that Mt Stirling contains a much larger gold system than what has been previously thought. What excites us about the current set of results is that we have intercepted significant gold grade nearly 100m beyond our previously defined resource. This, coupled with the fact that we have increased the grade by 20% on historical drill holes that were used in the previous resource estimate, gives us great confidence that when our interim resource is completed in the first quarter of this year, we may see a significant upgrade to our tonnage and gold ounces.
Following a short break over the holiday period, our geological and drilling teams are already back on site, concluding the phase 2 SE and NW extensions of the Mt Stirling resource, as we continue to work on proving up additional ounces at both our Mt Stirling and Stirling Well deposits.
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 25 drillholes from phase one of the Mt Stirling program, along with results from 18 drillholes at Stirling Well, 21 exploratory drill holes from the greenfields at Diorite and the results from our Phase 2 drilling at Mt Stirling."
The Mt Stirling gold system's mineralised endowment includes wide shear zone gold-bearing zones, chlorite-quartz schist associated gold, high grade narrow vein lode(s), and porphyry footwall contact gold mineralised zones.
Multiple significant sulphide mineralisation intercepts, associated with pyrite and arsenopyrite (chloritic, silicified, carbonate and biotite alteration) have been intercepted on every section of the extensional drilling, with initial assays on sections 1400N/1440N and 1480N confirming broad Au mineralisation, down-dip and extension continuity.
As has been previously announced analysis by the Photon Assay method (500g) have increased historical twinned drill hole grades (SWC127 40g FA and MSRC002 / Aqua Regia) by around 20%. These initial results are significant for global grade, tonnage and cut-off considerations.
Phase 2 (Mt Stirling SE extension) is nearing completion with 14 of the 18 planned drill holes completed for 2,410m (Figure 2). The Structural target model could extend the Mt Stirling gold system ~380m to the SE, where one of the key objectives is to test the interpreted Shear Zone position, and quantify a previously drilled, significant intercept of 10m @ 2.34 g/t Au (from 33m in MSRC024) including 4m @ 5.30 g/t Au (from 33m) and 2m @ 7.60 g/t Au (from 35m); proof of concept that Mt Stirling is a much larger mineralised-strike gold system than previously thought (refer ASX releases 29/01/2020 & 07/12/2020).
The subsequent Phase 2 (Mt Stirling NW extension) will test subtle historical shallow Au mineralised trends, where Torian has discovered highly prospective Arsenic leaking structures interpreted to be the surface expression of perhaps the centre of the Mt Stirling gold system.
This will be followed by a Phase 3 drill program (of combined RC and diamond drilling) which will vector on the plunge of the system across the entire interpreted 1,250m strike.
Mt Stirling Gold Project Interim Resources Upgrades
As had been previously announced, Torian has been prioritising processing the results from the Mt Stirling program as it has engaged resource estimate consultants to conduct an interim JORC resource upgrade, with the intention of expanding the current inferred resource estimate of 33.9koz at Mt Stirling and the 16.4koz inferred resource at Mt Stirling Well. The Company is expecting the Resource Estimate update during the first quarter of 2021.
The Mt Stirling maiden Inferred Resource Estimate (BMGS Dec 2018) included 26 historical shallow drill holes for a combined 727,021t @ 1.45 g/t Au for 33,893oz (Figure 8*). The Mt Stirling Phase 1 program provides an additional 31 drill holes, combined with a further 4 historical drill holes that were outside of the maiden Resource Estimate, for a combined 61 drill holes towards 2021 Q1 Resource Estimate upgrade (Table 2*).
*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
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