Taranis Resources Inc.

Published : September 19th, 2013

Assays 21.25 g/t Au over 11.45 meters at Thor's SIF Prospect, SE British Columbia

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Keywords :   Canada | Copper | Diamond | Gold | Lead | Report | Silver | Zinc |

 

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Taranis Assays 21.25 g/t Au over 11.45 meters at Thor's SIF Prospect, SE British Columbia

 

 

 

 

 Lakewood, Colorado, September 19, 2013 - Taranis Resources Inc. (TSX-V: TRO) ("Taranis") is pleased to report the results of a systematic chip-panel sampling program that has outlined a gold-bearing zone at the SIF Prospect located at Thor in August of 2013.

Overview and Importance of SIF

 

Taranis discovered the SIF prospect in 2012, and took several grab samples from the outcrop that contained significant gold values, and also contained visible gold (Taranis News Release dated August 30, 2012). The SIF is a 20 by 8 m wide single outcrop that occurs west of the Thor Silver deposit that is surrounded by shallow colluvium and the full extent of the quartz-bearing gold mineralization is not known. The visible gold occurs entirely within massive quartz-rich zones that are devoid of any copper, lead, zinc or silver and as such indicate it is a completely different deposit type at Thor. The SIF has never been drilled and is part of a much larger series of gold-bearing outcrops found on the property (Taranis News Release dated September 4, 2013).

 

Sampling:

 

During August of 2013, Taranis completed outcrop washing and sampling at SIF and also conducted Panel (planar samples made up of multiple chips collected from a surface with dimensions typically measuring 1.5 by 1.5 m) sampling over the entire outcrop to fully understand the distribution and habit of gold mineralization. Line 1 is found on the south end of the outcrop, and Line 13 is found on the north end of the outcrop. A map has been posted on www.taranisresources.com that shows the location of the samples on the outcropping.

 

Owing to the high nugget effect of the gold seen in outcrop, volumetrically large samples were collected using hammer and chisel, and subjected to metallic sieve fire analysis. A total of 13 lines were sampled, normal to the strike of the quartz-rich zones. The thickness of the SIF zone is unknown and it can only be ascertained through Diamond drilling, although it is known to exceed 1.5 m thick in the SIF outcrop.

 

Results:

 

The following table summarizes the results of the Panel sampling. A total of 51 samples were collected and analyzed during the sampling program.


 
 

 

 

 

Line

Weighted Overall Gold grade (g/tonne)

Length and Width of panel samples (m)

Average Gold Grade (g/tonne) in +150 Mesh fraction (+Au)

Average Gold Grade (g/tonne) in -150 Mesh fraction (-Au)

Average Percent Weight of Sample in +150 Mesh Fraction

Average Percentage of Gold in +150 Mesh Fraction

Number of Samples In Line and Average Weight (kg) of Each Panel sample

1

2.41

3.0 x 1.5

5.92

2.21

5.18%

12.54%

2 / 2.59

2

4.42

6.0 x 1.55

41.04

2.57

4.92%

24.17%

4 / 4.44

3

35.86

6.0 x 1.4

301.8

23.65

4.60%

30.18%

4 / 2.51

4

11.06

7.5 x 1.35

63.89

8.46

4.94%

22.28%

5 / 2.79

5

23.36

7.5 x 1.55

122.67

17.85

5.20%

20.25%

5 / 3.00

6

21.25

11.45 x 1.6

151.65

15.27

5.32%

28.32%

8 / 2.53

7

10.31

5.5 x 1.55

98.58

5.95

4.65%

40.12%

4 / 3.13

8

13.95

3.9 x 1.5

128.2

9.70

4.33%

23.94%

3 / 2.64

9

7.64

4.9 x 1.5

54.15

5.84

4.51%

37.01%

3 / 3.19

10

13.43

3.7 x 1.5

69.10

6.56

4.94%

28.62%

4 / 2.69

11

25.06

3.6 x 1.55

175.10

8.11

4.81%

31.05%

4 / 2.92

12

20.57

4.0 x 1.45

98.69

14.28

5.03%

13.71%

3 / 2.00

13

3.69

2.7 x 1.5

10.44

2.97

5.02%

16.46%

2 / 3.17

 

Roughly 1/3 of the gold occurs within the +150 Mesh fraction. The +150 Mesh fraction forms on average about 5% of the total sample, and this indicates significant coarse-grained gold in the SIF. Volumetrically, most of the gold occurs in the -150 Mesh fraction and indicates that it is very fined-grained and not visible to the naked eye.

 

The lack of any significant silver, copper, lead or zinc or pyrite in the single outcrop suggests that this is a completely new form of mineralization at Thor and has received no exploration to date. The zone is flat lying at SIF, and the quartz body has been emplaced after the intense folding of the sedimentary rocks that host the zone.

 

Quality Control and Analytical Procedures

 

Samples were analyzed by Acme Labs in Vancouver, Canada. The samples were prepared using method M150 that produces two size fractions for analysis (one +150 Mesh "Plus" and the other -150 Mesh "Minus"). 150 Mesh corresponds to approximately 0.105 mm. The Plus fraction is analyzed in its entirety with gravimetric finish and is reported as +Au. The minus fraction is analyzed by fire assay with AA finish and is reported as -Au. - Au fractions that exceed 10 ppm Au are re-analyzed using fire assay. Fire Assay was completed on a 30 g sample.

 

Gold values of both fractions are reported along with the total gold content of the sample.

 

Qualified Person

 

Exploration activities at Thor were overseen by John Gardiner (P. Geol.) a Qualified Person under the meaning of Canadian National Instrument 43-101.

 

About Taranis Resources Inc.

 

Taranis currently has 35,874,989 shares issued and outstanding (43,553,324 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
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Gold and Silver Prices for these countries : Canada | All

Taranis Resources Inc.

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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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