Taranis Resources Inc.

Published : December 11th, 2007

Intersects 5.07% Zn, 4.07% Pb, 0.26% Cu, 1.59 g/t Au and 296.12 g/t Ag Over 1.95 m in Deep D

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Jim Helgeson - Sawing FacilitiesTaranis Intersects 5.07% Zn, 4.07% Pb, 0.26% Cu, 1.59 g/t Au and 296.12 g/t Ag over 1.95 m in Deep Drilling Under Great Northern Zone, 180m South of True Fissure Mine at its Thor Property, Southeastern

British Columbia

 

 

 

 

 

Lakewood, Colorado, December 11, 2007

- Taranis Resources Inc. ("Taranis") [TSX.V: TRO], is pleased to report further on its exploration activities on the Thor property which continues to outline a large precious and base metal bearing zone, found within the Combined Metals Unit ("CMU"), that extends for over 1.4 km. A map showing the location of the drill holes outlined in this News Release is available from www.taranisresources.com as well as a cross-section that shows some of the features of the newly discovered area.

 

Recent drilling located south of the True Fissure Mine located high-grade zones typical of the True Fissure Mine, but here they are encapsulated within wide zones (up to 17.5 m wide) of lower-grade base and precious metal mineralization. This drilling was located 500 m north of a 900 by 300 m magnetic anomaly that was identified in 2007 down dip of the Great Northern Zone ("GNZ") and Broadview Zones, and is potentially the source area for precious and base metal lodes found on the Thor property.

 

Section 180m South

 

Five drill holes were completed 180 m south of the True Fissure Zone ("TFZ"). Results of these drill holes indicate that the TFZ-type mineralization extends considerably further south than previously known, and is continuous with high-grade intercepts reported on Section 330m South (See News Release dated November 5, 2007). Drill hole depths approximate the true thickness of the zones.

 

Thor-47 (-45 degrees) was drilled west from a pre-existing road and intersected the GNZ close to surface. The GNZ is highly enriched in silver, copper and lead relative to other intercepts in the area.

 

Thor-47

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

19.35

20.39

0.23

292.47

0.36

5.15

1.11

1.04

 

 

Thor-48 (-72 degrees) was drilled from the same setup as Thor-47 and intersected the CMU at shallow depth. An interval from 6.55 - 7.62 m encountered a void, which may be a small exploration adit that was driven on the GNZ in the late 1890's, but subsequently collapsed. The bounding-wall rock grades are strongly suggestive that this was an extremely high-grade part of the GNZ that was targeted by early prospectors at Thor.

 

Thor-48

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

6.10

6.55

2.58

172.56

0.04

4.66

8.93

0.45

6.55

7.62

Lost Core

 

 

 

 

7.62

8.02

0.59

95.07

0.50

4.02

15.57

0.40

and

 

 

 

 

 

 

 

19.81

20.24

0.27

134.03

0.13

1.34

1.10

0.43

 

 

Thor-49 (-90 degrees) was drilled from the same setup as 47 and 48 and intersected a wide zone of silver and copper mineralization within quartz-sulphide type rocks of the CMU.

 

Thor-49

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

23.16

30.18

0.20

42.60

0.23

0.05

0.04

7.02

 

Thor-57 (-65 degrees) was collared 90 m east of holes 47, 48 and 49, and intersected the CMU at depth, extending the zone over 70 m down-dip the hole 49 intercept. The zone shows considerable thickening, and the two intercepts tabulated below occur within a 6.15 m wide zone (74.13 - 80.28 m) grading 0.61 g/t Au, 120.13 g/t Ag, 0.09% Cu, 1.69% Pb and 2.15% Zn within both massive sulphide and quartz-sulphide breccia of the CMU.

 

Thor-57

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

74.13

76.08

1.59

296.12

0.26

4.07

5.07

1.95

and

 

 

 

 

 

 

 

79.55

80.28

0.58

180.74

0.05

2.84

3.84

0.73

 

Drill hole Thor-56 (-85 degrees) was drilled from the same set-up as Thor-57 and tested the GNZ down-dip of the hole 57 intercept. This drill hole intersected one smaller zone of higher grade material tabulated below within a 6.92 m wide zone (82.17 - 89.09 m) grading 0.16 g/t Au, 27.71 g/t Ag, 0.01% Cu, 0.46% Pb and 0.64% Zn.

 

Thor-56

 

 

 

 

 

 

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

88.57

89.09

0.88

217.31

0.07

1.55

5.34

0.52

 

 

Section 330m South

 

Drill holes 59 and 60 were drilled down-dip of holes 50 through 54 that traced a continuous zone of mineralization (see News Release dated November 5, 2007) including 3.29 g/t Au, 305.8 g/t Ag, 0.03% Cu, 3.92% Pb and 7.84% Zn over 1.94 m.

 

Thor-59 (-70 degrees) intersected two separate lenses of massive sulphide mineralization. The upper lens (CMU-1) occurs within a much wider zone of mineralization located from 17.50 m wide zone (78.94 - 96.44 m) grading 0.26 g/t Au, 63.65 g/t Ag, 0.03% Cu, 0.47% Pb and 1.02% Zn. Although the lower lens is primarily silver and lead-bearing, it is the up-dip extension of the CMU-2 Zone intersected in drill hole 60 and indicates that the zones are widening at depth.

 

 

CMU-1 of Thor-59

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

78.94

81.17

1.22

89.43

0.09

1.39

1.47

2.23

 

 

 

CMU-2 of Thor-59

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

100.22

100.52

Trace

79.61

Trace

3.92

0.02

0.30

 

 

Thor-60

 

Thor-60 (-90 degrees) is the most southerly hole drilled on the GNZ and has significantly extended the GNZ down dip. This drill hole has intersected one wide zone of low-grade mineralization encapsulating the CMU-1 and CMU-2 higher grade zones that is 11.76 m wide (88.00 - 99.76 m) and averaged 0.30 g/t Au, 36.00 g/t Ag, 0.02% Cu, 0.62% Pb and 0.55% Zn.

 

 

CMU-1 of Thor-60

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

91.47

92.08

3.23

248.79

0.13

1.90

2.08

0.61

 

 

CMU-2 of Thor-60

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

93.60

94.24

0.55

105.39

0.09

2.11

2.29

0.64

 

 

CMU-3 of Thor-60

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

107.84

111.01

0.11

29.49

0.01

1.15

1.39

3.17

 

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 is a precious metal resource company that owns 100% interests in three regions: 1) Three properties in Nevada, including Midway East, Tybo West and Pioche. 2) The advanced-stage Kettukuusikko property located in Lapland, Finland, that was explored and explored and drilled in 2007 by Taranis and Royal Gold, Inc. of Denver and 3) The Thor property located in British Columbia.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$ 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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