Taranis Resources Inc.

Published : January 25th, 2008

Intersects 12.07 m of 0.53 g/t Au in Newly Discovered Ankerite Zone

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Mount Jowett 

 

 

 

Taranis Intersects 12.07 m of 0.53 g/t Au In Newly Discovered Ankerite Zone

 

 

 

 

 

Lakewood, Colorado, January 25, 2008 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] continues to outline a large precious and base metal bearing deposit found within the Combined Metals Unit ("CMU"), now extending for over 1.6 km in strike length on its Thor property in southeastern British Columbia.

 

The Ankerite Zone is a newly discovered zone found on the north end of the True Fissure Zone ("TFZ") that primarily hosts gold and silver. The shallow nature of the zone and geometry make it potentially amenable to open-pit extraction.

 

Fourteen shallow drill holes were completed in an area located between the TFZ and the Blue Bell South/North Zones, primarily to understand the connection between these two areas.This area has never been explored and demonstrates that the CMU connects the two areas, but is dominated by carbonate-rich facies of the CMU.

 

Section 170m North

 

Drill holes Thor-31 (-45 degrees) and Thor-32 (-65 degrees) were drilled from the same setup and indicate that the TFZ is open down-dip of this area.

 

Thor-31

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

40.54

42.43

0.94

92.16

0.04

1.85

0.93

1.89

 

 

Thor-32

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

42.09

44.59

0.43

11.77

0.02

0.10

3.29

2.50

 

Drill holes Thor-33 (-45 degrees) and Thor-34 (-45 degrees) were drilled up-hill hill from Thor-31 and Thor-32 from two separate setups, and intersected the up-dip portion of the CMU very close to surface.

 

Thor-33

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

29.41

31.00

0.61

43.78

0.41

Trace

0.02

1.59

 

 

Thor-34

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

6.10

7.62

0.63

17.07

0.02

0.31

0.23

1.52

 

 

Section 230m North

 

Drill holes Thor-35 (-45 degrees), Thor-18 (-45 degrees) were drilled from different setups and indicated that the zone starts to pinch-out to the north before continuing into the Blue Bell Mine.

 

Thor-35

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

3.72

6.10

0.02

12.17

0.02

0.62

0.20

2.38

 

Thor-18 intersected a wide zone of gold mineralization within highly deformed quartz-sulphide breccia of the CMU.

 

Thor-18

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

22.65

34.72

0.53

7.93

0.01

0.02

0.01

12.07

 

Thor-40 (-45 degrees) was drilled down-dip of hole Thor-18 and failed to intersect any significant mineralization and indicates that the zone is faulted-off at depth.

 

Section 295m North

 

Drill hole Thor-36 (-45 degrees) was drilled up the hill from a setup where drill holes Thor-37, Thor-38 and Thor-39 were collared.

 

Thor-36

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

5.27

6.64

0.60

16.14

0.10

0.01

0.01

1.37

 

Thor-37 (-45 degrees), Thor-38 (-65 degrees) and Thor-39 (-85 degrees) were drilled from the same setup. The uppermost holes intersected zones of precious metal and copper mineralization.

 

Thor-37

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

28.35

30.85

0.43

57.49

0.22

Trace

0.02

2.50

 

 

Thor-38

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

22.37

26.46

0.54

18.79

0.08

Trace

0.01

4.09

 

Thor-39 intersected only a wide zone of anomalous gold and silver mineralization, and indicates that the zone is faulted-off at depth.

 

Section 325m North

 

Thor-19 (-45 degrees) was completed on this section and failed to intersect any significant mineralization

 

Section 385m North

 

Thor-20 (-45 degrees) and Thor-21 (-90 degrees) were completed on this section from the same setup and failed to intersect any significant mineralization. This area is the furthest known extent of the CMU before entering the Blue Bell Mine area.

 

John Gardiner, President and CEO of Taranis Resources Inc. states "the Ankerite Zone is a previously undocumented type of mineralization at Thor, and is found in the carbonate and silica-rich portions of the CMU.. Similar to the TFZ, the Ankerite Zone is faulted-off at depth along a fault that has tectonically transposed portions of the CMU. Taranis believes that the other portion of the zone continues at depth under the Great Northern Zone found 500 m south of this area."

 

 

Analytical work was completed by the AccurAssay Laboratories in Thunder Bay, Ontario that is accredited to Standards Council of Canada, Scope of Accreditation 434 (conforms with requirements of CAN−P−4D (ISO/IEC 17025), and CAN−P−1579). Drill core is logged on-site and is 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.

About Taranis Resources Inc.

 

Taranis currently has 14,847,008 shares issued and outstanding (17,256,626 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

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$ 7.5 millions as of today (US$ 6.0 millions, € 5.2 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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