Taranis Resources Inc.

Published : January 27th, 2014

Acquires Key Claims at Willa Deposit in Slocan Mining Division, B.C.

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Keywords :   Copper | Gold | Report | Silver |
Quartz and chlorite found in gold zones at Thor
Gold and chlorite commonly found in gold zones at Thor Deposit North of Trout Lake 

Taranis Acquires Key Claims at Willa Deposit in Slocan Mining Division, B.C.

Lakewood, Colorado, January 27, 2014- Taranis Resources Inc. ("Taranis") [TSX.V: TRO] is pleased to announce that it has acquired two key mineral claims on the Willa copper-gold deposit located in the Slocan Mining District of British Columbia (the "Timbit Claims"). The Timbit Claims overlay portions of the Arkoa, Colfax, Summit and O.B. Crown Grants and form part of 18 Crown Grants that collectively overlay the Historical Resource at Willa.

Discovery Ventures Inc. (TSX.V:DVN) recently announced (January 17, 2014) a restructuring of payments under an Option Agreement that involves other Mineral Tenures in the area. International Bethlehem Mining Corporation ("International Bethlehem") (TSX.V:IBC) is the owner of the Crown Grants which include only the mineral and not the surface rights.  International Bethlehem also owns 5 Mineral Tenures over the Willa Deposit that adjoin Taranis' Timbit Claims.

 

A technical report compiled in August 2005 for International Bethlehem provided a mineral resource estimate for the Willa deposit based on 556 core holes totaling 50,890 metres, 2,570 metres of underground workings and 17,150 laboratory analyses for gold, silver, and copper. Based on a cutoff of 3.5 g/tonne Au, a measured resource of 495,784 tonnes with 7.18 g/tonne Au, 12.16 g/tonne Ag, and 0.94% Cu and an indicated resource of 262,415 tonnes with 5.71 g/tonne Au, 13.26 g/tonne Ag, and 0.67% Cu were determined (Chapman and Makepeace, 2005, Technical Report on the Willa Deposit, Slocan Mining District, British Columbia, 143p.). These resource estimates are historical and a Qualified Person has not done sufficient work to classify the historical resource estimates as current mineral resources, therefore these historical estimates should not be relied on and do not have currently demonstrated economic viability.  Taranis is not treating the historical estimates as current mineral resources.

The Timbit Claims (100%) acquired by Taranis total 41.62 hectares and overlies the central-east portion of the Willa deposit, a sub-volcanic breccia-hosted gold-copper-silver deposit. Over $16 million (CDN) has been spent by various operators over the past twenty years to develop the Willa deposit to its present status, including an extensive underground network of workings to access the mineralization, and it is unknown at the present time how much of the previous expenditures were actually incurred under the Timbit Claims.

John Gardiner, President and CEO of Taranis Resources Inc. states "Taranis periodically reviews properties on an opportunistic basis, and acquires Mineral Claims if warranted. We have been particularly active in looking at these opportunities in Southeast British Columbia and have acquired the Timbit and other Mineral Claims as part of our exploration activity at our 100%-owned Thor Project".


Qualified Person

 

John Gardiner (P. Geol.) is the Qualified Person responsible for the  technical content of this news release under the meaning of Canadian National Instrument 43-101. 

About Taranis Resources Inc. 

Taranis currently has 42,124,989 shares issued and outstanding (55,271,657 shares on a fully-diluted basis).


Taranis Resources Inc.
John Gardiner (303)-716-5922
George Kent (416)-323-0783
 
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Taranis Resources Inc. | 14247 West Iliff Avenue | Lakewood | CO | 80228

Taranis Resources Inc.

DEVELOPMENT STAGE
CODE : TRO.V
ISIN : CA87609B1076
CUSIP : 87609B 10 7
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Taranis Res. is a copper exploration company based in United states of america.

Taranis Res. develops copper and gold in Finland, and holds various exploration projects in Finland.

Its main asset in development is NAAKENVAARA in Finland and its main exploration properties are WSM, RIIKONDOSKI, KETTUKUUSIKKO, NÄLKÄJÄRVI-RIIKONKUMPU and MARSINKUUSIKKO in Finland and THOR in Canada.

Taranis Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 10.5 millions as of today (US$ 8.4 millions, € 7.4 millions).

Its stock quote reached its highest recent level on January 23, 2004 at CA$ 0.95, and its lowest recent point on July 24, 2015 at CA$ 0.03.

Taranis Res. has 55 450 000 shares outstanding.

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Annual reports of Taranis Resources Inc.
2007 Annual report
Financings of Taranis Resources Inc.
6/27/2016engages FronTier Merchant Capital Group for Investor Relatio...
1/13/2012Announces Financing and Launches New Website
4/16/2010Closing of Private Placement
9/8/2009Announces Private Placement
2/4/2009Announces Private Placement
5/8/2008announces Closing of a Flow-Through Private Placement with t...
4/25/2008Announces Flow-Through Private Placement with the MineralFie...
4/7/2008Engages Kingsdale Capital to Raise $2,000,000 By Way of Priv...
Project news of Taranis Resources Inc.
1/27/2014Acquires Key Claims at Willa Deposit in Slocan Mining Divisi...
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6/2/2011(Naakenvaara)Taranis Commences Drilling at Naakenavaara
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5/12/2011(Naakenvaara)Completes Geophysical Surveys at Naakenavaara, Expands Surve...
4/28/2011(Kettukuusikko)Commences Airborne Surveys in Finland, Prepares Riikonkoski ...
3/18/2011Commences Drilling at Marskinkuusikko and Provides Update of...
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3/4/2010(Naakenvaara)Engages SMOY Drilling to Undertake Naakenavaara Exploration
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2/24/2009(Marskinkuusikko)Acquires Two New Gold Projects in Finland
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10/30/2007(Thor)Surface Grab Sampling at Thor Returns 2,281.24 g/t Ag, 10.79...
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Corporate news of Taranis Resources Inc.
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10/22/2013announces Closing of $500,000 Private Placement
9/23/2013announces results of Annual General and Special Meeting of S...
9/18/2013Receives Final Approval for Naakenavaara 5-14 Mining Claims ...
8/3/2013(Thor)Files NI 43-101 Resource Estimate for Thor
7/17/2013(Thor)Completes Geochemical Soil and Environmental Baseline Sampli...
6/20/2013(Thor)Completes Initial NI 43-101 Resource Estimate at Thor
4/30/2013(Thor)Outlines Advancement at Thor and Provides Update on NI 43-10...
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10/30/2012(Thor)Engages Roscoe Postle Associates Inc. to Undertake NI 43-101...
10/11/2012(Thor)Finds Another New Zone at Thor Assaying up to 6.6 g/t Au, 2....
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8/31/2012(Thor)Identifies High-Grade SIF Occurrence Assaying up to 90.1 g/t...
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10/12/2011(Kettukuusikko)Outlines 90,000 Ounces of Gold at Kettukuusikko - Targets Ne...
8/5/2011Documents Gold Content Associated with Wide Copper Intercept...
5/18/2011(Kettukuusikko)Identifies Large EM Target Under High-Grade Gold Zone at Ket...
2/24/2011(Kettukuusikko)to Undertake Resource Estimate at the Kettukuusikko Gold Pro...
2/22/2011to Undertake Airborne Geophysical Survey at Naakenavaara, Fi...
3/2/2010Acquires WSM Gold Property in Nevada
2/3/2010Plans Further Work on Three Areas in Nevada Identified From ...
1/12/2010Visit Taranis at the Cordilleran Roundup January 20-21st in ...
12/31/2009Completes Gravity Surveys on Six Target Areas in Nevada
11/30/2009Commences DiRT Exploration in Nevada
11/12/2009Acquires 3 Gold Projects South Of Kimberley and Completes Ge...
1/23/2009Visit Taranis at the Cordilleran Roundup January 28-29th in ...
1/8/2009Drills 1,008 g/t Ag, 1.22 g/t Au, 0.34% Cu, 8.67% Pb and 10....
12/19/2008Exposes 100 m of South end of Great Northern Zone, and Repor...
12/11/2008Cuts 4.33 m of 2.01 g/t Au, 667.35 g/t Ag, 0.19% Cu, 6.37% P...
4/4/2007Identifies New Copper-Gold Zone in Kettukuusikko Center Zone...
3/14/2007Selects Quantec to Undertake Deep Penetration E.M. Surveys a...
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