Taranis Resources Inc.

Published : April 04th, 2007

Identifies New Copper-Gold Zone in Kettukuusikko Center Zone, Finland

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Taranis Resources Identifies New Copper-Gold
Zone in Kettukuusikko Center Zone, Finland

 

Lakewood, Colorado, April 3, 2007 Taranis Resources Inc. ("Taranis") [TSX.V: TRO], a Colorado-based resource company with a number of gold and silver projects in Nevada, British Columbia and Finland, is pleased to provide an update of its winter 2006/2007 exploration drilling program on the Kettukuusikko Property, Finland. 

Taranis has currently completed 2,421.7 m of Diamond drilling in 23 holes at Kettukuusikko, of which only selected analytical results have been received to date owing to slow turn-around of analytical results. 

Kettukuusikko Center Zone ("KCZ") 

As part of Taranis systematic and widespread exploration of a number of geophysical targets outside of the KSZ, Taranis has identified an important zone of copper and gold mineralization that lies between the previously identified Kettukuusikko North Zone ("KNZ") and the Kettukuusikko South Zone ("KSZ").  This years exploration has indicated that the gold bearing KSZ and KNZ zones are connected by widespread disseminated pyrite/pyrrhotite/arsenopyrite mineralization that is now referred to as the Kettukuusikko Center Zone ("KCZ") which extends for approximately 600 m in strike length, and lies along the east contact of an intrusive talc-chlorite schist ultramafic body. 

Ground magnetics and drill hole geophysical data indicate that the NNW-trending Sirkka Fault has a prominent structural flexure where Taranis has found widespread copper mineralization in two widely-spaced drill holes. The copper mineralization occurs as chalcopyrite within a silicified and tourmalinized breccia body. 

KCZ "Copper-Gold Zone" 

Drill holes K-82 & K-77 intersected significant copper mineralization in a previously unknown area that was targeted using I.P. surveys completed in the summer of 2006. These two drill holes, used in conjunction with other drill holes completed in the KCZ, have outlined a copper-rich portion of the KCZ that plunges steeply southward, and has only been tested to a depth ranging from 32m below surface to 88m below surface. This zone remains open at depth where indications are the zone widens and exhibits more intense hydrothermal alteration. 

Drill Hole Number

From (meters)

To (meters)

Interval (meters)

Cu (%)

K-82

43.02

48.14

5.12

0.70

including

45.49

48.14

2.65

1.16

Hole K-82 also identified anomalous gold values (maximum of 0.51 grams/tonne Au), arsenic (maximum of 1,290 ppm), cobalt (maximum of 329 ppm), molybdenum (maximum of 29 ppm) and nickel (maximum of 0.175%) that geochemically is unique from the KSZ. 

Drill Hole Number

From (meters)

To (meters)

Interval (meters)

Cu (%)

K-77

83.97

113.00

29.03

0.24

Including

92.50

99.00

6.50

0.53

Hole K-77 also includes geochemically anomalous gold values (maximum of 0.42 grams/tonne Au) and also anomalous values of arsenic, cobalt, molybdenum and nickel that demonstrate the continuity with the same zone identified up-dip in drill hole K-82. 

Drill Hole K-70 was drilled only to a shallow depth of 44.50 m (70 m east of K-82) and has intersected anomalous gold mineralization on the east side of the KCZ Copper-Gold Zone that bears a strong resemblance to the KSZ located 420 m south. This zone remains open to the north and at depth. 

Drill Hole Number

From (meters)

To (meters)

Interval (meters)

Au (grams/tonne)

K-70

16.00

17.00

1.00

8.31

John Gardiner, President and CEO of Taranis Resources Inc., states "The KCZ is an important part of understanding the widespread extent and geologic nature of gold and copper mineralization at Kettukuusikko.  The occurrence of copper mineralization on the property in conjunction with gold, suggests a deposit type similar to the Saattapora copper-gold Mine located 40 NW km of Kittila. At Kettukuusikko, it appears that an originally contiguous copper-gold deposit has been structurally dismembered, both by movement along the Sirkka Fault Zone, and also by intrusion of an ultramafic body".  Taranis is continuing to explore a number of other high-priority targets on the property, and will complete further drilling in the KCZ Copper-Gold Zone before completion of its 2007 drilling program.

Other Information 

Royal Gold, Inc. has earned a 2% NSR in Kettukuusikko by having funded US$500,000 of exploration costs on the project.  If Royal Gold completes an additional US$600,000 in funding, Taranis and Royal Gold will enter into a Partnership Agreement, in which event the 2% NSR Royalty will terminate and Royal Gold will earn a 51% interest in the property.  However, if Royal Gold ceases funding prior to reaching US$600,000, it will retain its 2% NSR royalty. 

About Taranis Resources Inc. 

Taranis is a precious metal resource company that owns 100% interests in three active exploration project: 1) three properties ready for drilling in Nevada, USA 2) the advanced-stage Kettukuusikko property located in Lapland, Finland, currently being explored and drilled by Taranis and Royal Gold, Inc.. of Denver and 3) the Thor property located in British Columbia.  Taranis currently has 13,690,168 shares issued and outstanding (15,868,418 shares on a fully-diluted basis). 

Analytical work was completed by the GTK Geolaboratory that is accredited to SFS-EN ISO/IEC 17025.  The certification also complies with the Standards Council of Canada (CAN-P-1579).  Drill core is logged in secure facilities in Kittil, and is transported to the GTK core facilities in Rovaniemi where drill core is sawed in half for analysis.  One half is retained for geologic records and further assay verification if required.  Exploration activities on the Kettukuusikko Property were overseen by John Gardiner (P. Geol.) and Jim Helgeson (P. Geo.), who are both Qualified Persons under the meaning of Canadian National Instrument 43-101.

TARANIS RESOURCES INC.

Per: John J. Gardiner (P. Geol.),
President and CEO

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release

For additional information, contact:
John Gardiner / George Kent
Taranis Resources Inc.
1 (303) 716 5922 | (416) 323 0783
info@taranis.us | http://www.taranis.us/






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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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TSX-V (TRO.V)Other OTC (TNREF)
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