Auger Vacuum drilling provides extremely clean uncontaminated samples of overburden and oxide material above hard rock basement that are able to be screened by pXRF for vectoring minerals and elements and contoured to map out dispersion of elements and minerals of interest. AV provides a low impact and cost-effective method to detect out the leakage of mineralised sytems onto interpreted structures and prospective lithological contacts.
Torian continues in partnership with Strataprobe (AV) Drilling, in providing the technical successful ongoing target generation, therefore de-risking and ranking priority targets for RC drill definition, ensuring the global increase resource base of the
Torian's Executive Director Mr
As is clear from today's announcement we are blessed that the
As was announced on Friday, the conditions for the equity swap in BullionFX have now been met, with the BULL token trading on a secondary exchange for greater than
For the benefit of Torian shareholders and the wider Torian investment community, BullionFX will be holding a webinar at
Hydra Update
Hydra gold mineralisation has been confirmed with Auger Vacuum (AV) selective arsenic-rich samples returning peak Au values up to 1.08 g/t Au from 2m (MSAV324) and 0.44 g/t Au from 20m (MSAV325) from vertical AV drilling. AV drilling over the previously delineated Hydra arsenic pXRF anomaly has confirmed the 460m strike >100ppm As with a peak 3,023ppm As value located on an inflection of the Viserion Shear with 5 discrete >500ppm As target zones to be tested in upcoming RC drilling. Arsenic has previously correlated with gold in the region, and recently led to the discovery of the Viserion lode at Mt Stirling. The discovery of further gold at Hydra indicates that arsenic vectoring continues to be a successful pathfinder to gold mineralisation.
The Hydra target is 500m to the NW of the Viserion Shear newly discovered target, and is likely to be linked, with the potential of >2km strike continuity prospectivity. The target zones at Hydra are along strike of historical intercepts of 2m @ 1.00 g/t Au from 102m (MSRC021) and 1m @ 1.90 g/t Au from 130m (drilled in 1998). RC drilling is planned up-dip of these historical intercepts, with twinning planned in order to upgrade to JORC compliance.
Tyrannus Regional Update
The Tyrannus footprint has been significantly extended to 1000m strike >10ppm As (arsenic pXRF anomaly) with a peak 2,468ppm As from 9m (MSAV0474) adjacent to an inflection position of the NNW Ursus Fault. Historical intercepts of 2m @ 2.19 g/t Au from 22m (MSRC08) and 1m @ 1.00 g/t Au from 12m (MSRC07 drilled in 1986) confirm the presence of gold mineralisation at Tyrannus. Twinning of historical RC drilling is planned in order to upgrade to JORC compliance. The best max in-hole arsenic sample intervals from recent AV drilling at Tyrannus, have been submitted for Au assay determination, to confirm presence and dispersion of mineralisation. A total of 160 samples were submitted in early September with pending assays to come from these and a further 39 samples. Tyrannus targets are structurally significant as they are situated on an inflection and splay junction of the Wonambi Shear termination onto Ursus Fault, 400m east of Mt Stirling gold mineralisation.
The Tyrannus position is along strike of Red5's Cerebus-Eclipse (Indicated & Inferred 2.8Mt @ 1.2g/t Au for 112k oz) and
Viserion Shear Regional Update
A significant 260m >100ppm As anomaly on the Viserion Shear will also be RC drill tested, to the immediate west of Viserion mineralisation with a peak 1,244ppm As from 4m (MSAV0246). These target anomalies are in close proximity to multiple drill sections of recently drilled Mt Stirling Viserion lode, where the surface position of this Viserion Shear target has not been tested, and has the potential to be sub-parallel mineralisation. Arsenic anomalies have demonstrated to correlate with gold in the region, previously leading to the discovery of the Viserion lode on the Mt Stirling Gold System A total of 130 AV drill holes were drilled for 1402m.
Peak Au values up to 2.22 g/t Au from 6m (MSAV182) from vertical AV drilling coincide with previously discovered surface pXRF As anomalous zone. Follow-up RC drill testing is planned with permitting also approved.
About Torian
Another project in the Kalgoorlie region is the Zuleika project in which the Company is involved in a JV with
Cautionary Note Regarding Forward-Looking Statements
This news release contains 'forward-looking information' within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget' 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or indicates that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be' taken, 'occur' or 'be achieved.' Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, Gold and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in Gold prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalisation and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation.
Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward looking information is made as of the date of this announcement and the Company does not undertake to update or revise any forward-looking information this is included herein, except in accordance with applicable securities laws.
Contact:
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Email: info@torianresources.com.au
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