Taranis Resources Inc.

Published : November 05th, 2007

Resources Taranis Intersects 3.29 g/t Au, 305.8 g/t Ag, 0.03% Cu, 3.92% Pb & 7.84% Zn Over 1

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Jim Helgeson - Sawing FacilitiesTaranis Resources Intersects 3.29 g/t Au, 305.8 g/t Ag, 0.03% Cu, 3.92% Pb & 7.85% Zn Over 1.83 m in Great Northern Zone, 330 m South of True Fissure Mine 
 
 

Lakewood, Colorado, Nov 5, 2007 - ("Taranis") [TSX.V: TRO], Taranis is pleased to report further on exploration activities on the Thor Property which continues to outline a large precious and base metal-bearing zone that extends for over 1.4 km within the Combined Metals Unit ("CMU") on the Thor Property.

 

Surface grab sampling completed in 2006 in the Great Northern Zone ("GNZ") located 330 m south of the True Fissure Zone ("TFZ") provided indications that the GNZ was enriched in precious and base metals as outlined below (News Release dated November 15, 2006).

 

 

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Average of 10 surface samples

3.07

1,166.14

1.45

3.50

4.95

 

Section 330m South

 

This News Release summarizes drill holes Thor-50 through Thor 54 completed on Section 330m South. Thor-54 was lost due to bad ground conditions after entering massive sulphide mineralization, and represents only a small portion of the CMU. In addition, there are three other deep holes on this section (Thor 58 through Thor-60) which have been completed (all of which intersected the CMU), but assay results are not available at this time.

 

A map and cross-section showing the location of the drill holes outlined in this News Release is available from www.taranisresources.com

Thor-50

 

Drill hole Thor-50 (-45 degrees west) intersected the CMU at a shallow distance below surface where Taranis conducted surface sampling in 2006.

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

17.34

20.45

0.37

18.74

0.09

0.27

2.95

3.11

including

 

 

 

 

 

 

 

19.66

20.45

1.19

39.66

0.28

0.05

9.64

0.79

 

Thor-51

 

Drill hole Thor-51 (-65 degrees west) intersected a wide zone of mineralization with several intervening lost core intervals. The lost core interval represents an interval in which core drilling was unable to recover rock due to poor ground conditions, but in fact may be one contiguous zone..

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

17.37

19.20

1.56

409.41

0.34

5.69

10.77

1.83

19.20

20.73

Lost Core

 

 

 

 

20.73

21.98

0.08

28.84

0.04

0.96

0.68

1.25

21.98

22.68

Lost Core

 

 

 

 

22.68

24.11

0.39

43.1

0.02

0.29

2.03

1.43

 

Thor-52

 

Drill Hole Thor-52 (-85 degrees west) intersected two lenses of massive sulphide from 17.98-18.41 meters, before entering the CMU from 19.81-23.16 m. A small interval of lost core occurs within the intercept, but may in fact be one contiguous zone.

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

17.98

18.41

2.45

162.77

0.02

4.36

1.37

0.43

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

19.81

21.64

3.29

305.80

0.03

3.92

7.84

1.83

21.64

22.56

Lost Core

 

 

 

 

22.55

23.16

2.71

773.67

0.04

1.97

6.85

0.61

 

Thor-53

 

Drill hole Thor-53 (-85 degrees east) intersected both an upper and lower zone of the CMU. These zones are respectively designated CMU-1 (Hangingwall) and CMU-2 (Footwall). The presence of the CMU-2 Zone is considered important since it shows that a new zone may occur in the footwall of CMU-1.

 

CMU-1 of Thor-53

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

17.74

24.99

1.13

88.58

0.01

2.29

3.44

7.25

including

 

 

 

 

 

 

 

23.19

24.99

0.46

61.05

0.01

2.10

5.69

1.80

 

CMU-2 of Thor-53

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

31.70

41.85

0.14

60.80

Trace

0.42

0.51

10.15

 

Thor-54

 

Drill hole Thor-54 (-50 degrees east) intersected the CMU, but was lost upon immediately entering massive sulphide at a depth of 38.25 m. The area was subsequently drilled from a different setup located to the east (Thor-58) which intersected the zone, but assays results are not available at this time.

 

From (m)

To (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Thickness (m)

35.36

38.26

0.50

366.95

0.01

3.45

2.74

2.90

including

 

 

 

 

 

 

 

37.67

38.25

2.37

1,659.78

0.05

12.16

11.05

0.58

 

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 was 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.), who are 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
This email was sent to .com, by johnjgardiner@earthlink.net
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Taranis Resources Inc. | 14247 West Iliff Avenue | Lakewood | CO | 80228
Data and Statistics for these countries : Canada | Finland | All
Gold and Silver Prices for these countries : Canada | Finland | 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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