Taranis Resources Inc.

Published : February 09th, 2009

Drills 10.51 g/t Au Over 1.53 Meters in the Great Northern Zone at Thor

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Keywords :   Canada | Diamond | Gold | Silver | Zinc |
Drill at Thor - Mt. Jowett in the BackgroundTaranis Drills 10.51 g/t Au Over 1.53 Meters in the Great Northern Zone at Thor

 
Lakewood, Colorado, February 9, 2009 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] continues to receive analytical results from its 2008 summer drilling program completed at Thor, located in southeastern British Columbia. Drill holes were completed on a sectional basis and were drilled normal to the strike and dip of the Combined Metals Unit ("CMU") with approximately 40 m between drill holes.

General

 

The results below include Diamond drilling exploration holes completed on the St. Elmo/Blue Bell and Great Northern Zone ("GNZ") on Taranis' 100% owned property, located in southeast British Columbia. A map is available on the Taranis website (www.taranisresources.com) that shows the location of all the Diamond drill holes completed on the project.

 

St. Elmo/Blue Bell Zone

 

The St. Elmo/Blue Bell Zone form a continuous zone of precious and base metal mineralization found north of the True Fissure Zone. Mineralization is confined to the CMU that dips moderately to the east and strikes north-northwest.

 

Section 405 m North

 

Drilling down-dip of Thor-128 previously reported in the News Release dated Oct 22, 2008 (2.22 g/t Au, 256.64 g/t Ag, 1.01% Cu, 15.10% Pb, and 3.66% Zn / 1.01 m) has extended the St. Elmo Zone down-dip. Drill Hole Thor-127 (-70 degrees) intersected a narrow zone of very-high grade massive sulphide mineralization..

 

Thor-127

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

11.77

12.59

5.25

789.90

0.81

7.87

7.38

0.82

 

Drill Hole Thor-125 drilled from the same setup (-90 degrees) continued the zone down-dip and intersected coarse-grained massive sulphide mineralization.

 

Thor-125

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

12.80

13.90

0.43

670.08

0.44

10.19

13.83

1.10

 

Section 405 m North remains open at depth and to the south where it extends to the True Fissure Zone. Topographic considerations make additional drilling in this area difficult and will require special equipment in order to adequately test the zone.

 

Great Northern Zone

 

Drilling on the southern end of the GNZ has demonstrated that the GNZ is tear dropped in cross-section and shows a pronounced thickening at the base of the CMU in an area known as the "keel". The keel of the GNZ plunges shallowly northward, parallel to a well-developed lineation seen in outcrop, and also demonstrates that the mineralization predates the structural lineation. Highly elevated gold values can be found in the keel of the GNZ, and tend to occur within pyrite and quartz-rich portions of the CMU.

 

Section 482 m South

 

Drill Hole Thor-129 (-45 degrees) was drilled under an area trenched in the summer of 2008 and intersected a gold-rich zone found in quartz-sulphide type mineralization.

 

Thor-129

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

31.09

32.62

10.51

80.19

0.04

1.41

2.00

1.53

 

Three other drill holes were completed down-dip. Drill Holes Thor-126 (-45 degrees), Thor-123 (-70 degrees) and Thor-122 (-90 degrees) were drilled below the keel of the GNZ, and intersected thin zones of mineralization.

 

Thor-126

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

56.42

57.00

Trace

53.6

0.03

Trace

0.14

0.58

 

Thor-123

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

59.29

60.05

2.31

30.3

0.02

0.38

0.31

0.76

 

Thor-122

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

67.76

69.50

0.37

10.5

0.03

0.07

1.57

1.74

 

These holes demonstrate that below the keel of the GNZ, the precious/base metal mineralization continues down-dip but is dominated by quartz-sulphide breccia with significantly lower metal tenure. A similar progression has also been seen in the Broadview Zone.

 

Area Between GNZ and Broadview (Sections 520 - 680 m South)

 

Two drill holes were drilled from a single setup in a valley that separates the GNZ from the Broadview Zone.

 

Section 520 m South

 

A previously reported drill hole (Thor-119) intersected a very narrow zone of high-grade silver and zinc mineralization on this section. Drill Holes Thor-138 (-45 degrees) and Thor-133 (-90 degrees) were drilled from a single setup 27 m west of drill hole Thor-119.

 

Thor-138

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

46.39

48.77

0.76

486.61

0.46

0.47

0.82

2.38

 

Drill Hole Thor-133 failed to intersect and significant precious or base metal mineralization, but did hit a quartz-sulphide breccia zone at a depth of 71.63-73.43 m downhole that corresponds with the CMU.

 

Section 680 m South

 

Drill Hole Thor-124 (-45 degrees) intersected a zone of barren quartz-ankerite veining. Thor-121 (-90 degrees) targeted a large low-relief magnetic anomaly identified at surface, and a borehole magnetometer survey indicated that the drill hole intersected the target, although the source of the magnetic anomaly remains unknown. This drill hole also intersected weak levels of zinc mineralization in a zone of quartz-sulphide breccia at a depth of 146.0-147.83 m.

About Taranis Resources Inc.

 

Quality Control and Analytical Procedures

 

Analytical work for the Thor project was completed by Acme Analytical Laboratories Limited ("Acme") of Vancouver, Canada that is accredited to BS EN ISO 9001:2000. In addition to the numerous internal quality control checks undertaken within Acme, Taranis also submits a series of external standard samples to ensure accurate analytical reporting, and also uses external laboratories (ALS Chemex) to verify the integrity of sample results. Drill core is logged on-site and sawed in half for analysis.  One half is retained for geologic records and further assay verification if required.  Exploration activities on the Thor property were overseen by John Gardiner (P. Geol.) and Jim Helgeson (P. Geo.), both Qualified Persons under the meaning of Canadian National Instrument 43-101.

 

Taranis currently has 18,207,875 shares issued and outstanding (21,839,216 shares on a fully-diluted basis).

Taranis Resources Inc.
John Gardiner (303)-716-5922
George Kent (416)-323-0783
 
.
Taranis Resources Inc. | 14247 West Iliff Avenue | Lakewood | CO | 80228
<
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

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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