Taranis Resources Inc.

Published : August 26th, 2009

Samples 31 meters of 0.31% Copper, and 0.7 meters of 10.8 g/t Gold at the Naakenavaara Project, Finl

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Keywords :   Copper | Diamond | Finland | Gold | Swamp |
 
Core Logging - Jim Helgeson, VP ExplorationTaranis Samples 31 meters of 0.31% Copper, and 0.7 meters of 10.8 g/t Gold at the Naakenavaara Project, Finland
 
Lakewood, Colorado, August 26, 2009 -
Taranis Resources Inc. ("Taranis") [TSX.V: TRO] continues to receive very encouraging results from its ongoing exploration activities on the Naakenavaara Project located in Lapland, Finland. The most recent results pertain to re-analyses of some of the drill holes on the project, and a further refinement of a 2009 geophysical surveys.

As part of its characterization of the geology at Naakenavaara, Taranis has re-analyzed some of the drill holes to better understand the geology of the NC, and conducted geophysical measurements on the core in order to tie the drill holes and accompanying mineralization into the recently completed geophysical survey.

 

The recent work has documented several important features of the NC that were previously unknown. First, the copper (chalcopyrite) and gold mineralization at Naakenavaara does not always occur directly at the base of the ultramafic rocks, but can be found upwards of 50 m into the footwall rocks within highly sericitized and brecciated (hydrothermally altered) rocks. Secondly, Taranis has been able to document a strong nugget effect in the gold content of the mineralized zones. Taranis was able to document up to 10.8 g/t Au in drill hole R607 where the GTK found no significant gold. Conversely, the GTK was able to document 10.3 g/t Au in drill hole R618 where Taranis was not able to identify only weakly anomalous gold content. Finally, the average background for gold in the Taranis sampling (99 core samples) was 0.20 g/t Au, indicative of a much larger hydrothermal system accompanying gold mineralization than previously recognized.

 

The following table summarizes the copper and gold analyses completed by Taranis (ALS Chemex).

 

GTK Drill Hole No.

From (m)

To (m)

Interval (m)

Copper (%)

R604

142.0

148.0

6.0

0.32

R604

165.1

168.0

2.9

0.35

R605

175.6

183.6

8.0

0.29

R607

143.7

145.4

1.7

2.08

R617

75.0

106.0

31.0

0.31

R618

107.0

119.0

13.0

0.44

R618

136.4

147.0

10.6

0.79

 

GTK Drill Hole No.

From (m)

To (m)

Interval (m)

Gold (g/t)

R604

173.0

175.0

2.0

2.10

R605

177.6

183.6

6.0

0.13

R607

144.7

145.4

0.7

10.80

R617

93.0

94.0

1.0

2.35

R618

113.0

117.0

4.0

0.87

R618

136.4

145.0

8.6

0.48

 

Taranis has been able to identify four large targets within the NC based on the historic drilling and the recent geophysical survey data.
 

OKI Zone -

The OKI Zone is at least 1.6 km in strike length and has never been tested apart from trenching on the extreme west end and several drill holes on the east end. The zone is characterized by a number of electromagnetic ("EM") anomalies along the north side of a prominent magnetic high that forms the north side of the NC. Through previous sampling of the trenches, Taranis has been able to document up to 1.95% Cu and 0.49 g/t Au (News Release dated 10/31/2006). On the east end of the OKI Zone, the GTK & Taranis has verified wide Cu-Au bearing intercepts 0.31% Cu / 31.0 m (R617) and 0.44% Cu / 13.0 m + 0.79% Cu / 10.6 m (R618).
 

USHIRO Zone -

The USHIRO Zone is 1.2 km long and occurs along the southwest side of the NC, and consists of a convex zone of coincident magnetic/EM conductors. This zone has never been tested with Diamond drilling or trenching.
 

UCHI Zone -

The UCHI Zone is upwards of 1 km in strike length, and forms a strong magnetic high with numerous EM targets that forms the south side of the MC. The GTK drilled on the extreme west end of the geophysical feature and intersected high-grade Cu/Au mineralization including 2.08% Cu / 1.70 m + 10.8 g/t Au / 0.70 m (R607).
 

MIGI Zone -

The MIGI Zone occurs entirely under a swamp and is probably the continuation of the OKI Zone on the east side of a river that cuts the property from north to south. The MIGI Zone is at least 1 km in length and is convex to the north-east, and geophysically is identical to the OKI Zone. This zone is also associated with a large coincident magnetometer/EM anomaly 250 m long that is also associated with highly anomalous vertical magnetic gradients. It is possible that this portion of the zone could be massive sulphide mineralization based on its unique geophysical signature.

 

John Gardiner, President and CEO of Taranis states "At Naakenavaara, we are beginning to understand that the copper-gold exploration potential of the NC is enormous, and we are slowly gaining an understanding of the geology associated with the mineralization. If the OKI and MIGI Zones are the same zones as we suspect, then we have been able to document a large hydrothermal system at Naakenavaara upwards of 2.6 km in strike length, the bulk of which remains completely unexplored".

 

Analytical work at Naakenavaara was completed by ALS Chemex. ALS Chemex has attained ISO 9002 laboratory accreditation, which requires evidence of a quality management system covering all aspects of their organization, and was recently accredited to ISO:9001:2000 for North America. To ensure compliance with this system, regular internal audits are undertaken by staff members specially trained in auditing techniques accredited to SFS-EN ISO/IEC 17025. Exploration activities on the Naakenavaara Property were overseen by John Gardiner (P. Geol.) & Jim Helgeson (P. Geo.), who are Qualified Persons under the meaning of Canadian National Instrument 43-101.

About Taranis Resources Inc. 

 

Taranis currently has 18,707,875 shares issued and outstanding (22,839,215 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 : Finland | All
Gold and Silver Prices for these countries : Finland | 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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TSX-V (TRO.V)Other OTC (TNREF)
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