(via TheNewswire)
A New Generation of Porphyry Deposits in
Taranis has carefully examined the nearby Max porphyry molybdenum deposit (8 km SW) as it explores Thor, in order to contextualize and interpret the vein-type Ag/Au/Pb/Zn/Cu epithermal mineralization at Thor. Previous descriptions of the Max mine show that the porphyry is entirely hosted within metasedimentary rocks, and it is associated with minor peripheral epithermal type veins that contain silver, lead and zinc. Third-party publicly available research has shown that the epithermal-type veins peripheral to Max were formed by the intrusive. Taranis believes that the Thor epithermal deposit is a direct analogy to this situation, and that the comparatively massive epithermal deposit occurs in close proximity to a concealed intrusive body.
Accordingly, Taranis is exploring for a porphyry deposit which is almost entirely sediment hosted and does not outcrop. These are a very rare deposit type, and known examples include one of the largest deposits found in
Taranis has developed a robust data management and interpretation plan to review the considerable amount of data from the 2022 exploration program. In addition to this it has filed a Notice of Work application with the
Taranis has undertaken extensive geological mapping and alteration mapping at surface to gain further understanding of the concealed DASH porphyry target. An airborne magnetotelluric and magnetometer survey in 2022 has proven to be indispensable in the mapping of the subsurface geology and identified a large conductivity ‘donut’ that underlies the Thor deposit, which is coincident with a magnetic anomaly. Previous drilling has shown that this feature is overlain by extremely thick sericite and andalusite alteration that commonly contains quartz veins and pyrite.
Many precision sports employ the phrase “aim small, miss small” to describe the process of picking out a small target on a larger target. This increases the probability of hitting the target and improves accuracy. Taranis’ data management and interpretation plan is based on this approach. By mapping alteration and surface geology and combining that data with subsurface geology from the airborne geophysical survey, Taranis intends to aim at very small targets deep below the epithermal deposit, and in so doing, find a very large mineral resource.
Update of Epithermal Mineral Resource Estimate
Taranis is also planning on updating the NI 43-101 Mineral Resource estimate for the epithermal deposit. The last Mineral Resource estimate was completed in 2013 when there were 152 drill holes completed on the deposit. Taranis has now completed over 250 drill holes in the deposit and the understanding of the deposit has been greatly increased. Emphasis will be placed on including additional strategic companion metals that include antimony and indium which are expected to add considerably more value to the Mineral Resource in addition to silver, gold, lead, zinc and copper, which were the only minerals contemplated in the maiden Mineral Resource Estimate.
The NI 43-101 compliant Mineral Resource Estimate will be designed to incorporate recovery rates once Taranis is able to conduct its exploration Bulk Sample. The polymetallic Bulk Sample is currently permitted and will provide more information about the physical characteristics of the epithermal Mineral Resource at Thor. Taranis has filed a Notice of Objection with the
Reclamation Activity & Bonding
Taranis has approximately
Comments
About
Qualified Person
Exploration activities at Thor were overseen by
the meaning of Canadian National Instrument 43-101.
For additional information on Taranis or its 100%-owned Thor project in
Taranis currently has 85,681,351 shares issued and outstanding (91,756,351 shares on a fully-diluted basis).
Per: John J. Gardiner (
President and CEO
For further information contact:
John J. Gardiner 80517 Phone: (303) 716-5922 Cell: (720) 209-3049 johnjgardiner@earthlink.net |
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