Extends Gold Strike To Over 680m
Torian Resources Limited (ASX:TNR) continues to confirm strike extension of the Mt Stirling Gold System in Western Australia to the north-west, with the system now confirmed over ~680m strike.
Torian’s flagship Mt Stirling Project is situated approximately 40km NW of Leonora, and neighbours Red 5’s Kind of the Hills mine. The region has recently produced approximately 14M oz of gold from mines such as Tower Hills, Sons of Gwalia, Thunderbox, Harbour Lights and Gwalia.
New assays have returned significant gold mineralisation of:
3m @ 0.41 g/t Au from 81m
9m @ 3.75 g/t Au from 88m, including 6m @ 5.07 g/t Au from 90m, and 1m @ 12.36 g/t Au from 93m
4m @ 5.99 g/t Aufrom 133m, including 2m @ 10.58 g/t Au from134m
The company has now named the NW high-grade lode of the Mt Stirling Gold System the “Viserion lode”.
Executive Director, Peretz Schapiro, saidDiamond and RC drilling is ongoing at the Mt Stirling Gold Project, with the objective of continuing to test and define the depth and strike of the gold system with an immediate five extensional drill holes for ~2000m planned and in-progress.
“As we have been saying for some time, the geology at Mt Stirling has indicated to us that the gold system there is much larger than what was originally defined. Earlier this week we continued to affirm this assumption with the discovery of the eastern mineralised zone,” Mr Schapiro said.
“Today we take another important step in this direction with the results from the NW confirming that we are unearthing a giant, much larger system than we had previously anticipated. Importantly, the system still remains open to the NW, and we eagerly await further results from this domain as we continue to expand this system.
“The discovery of this significantly mineralised gold lode in the NW (now to be referred to as the Viserion Lode) confirms that the recently defined (pXRF) arsenic leaking structures were an excellent indicator to vector in on gold mineralisation, confirming our hypothesis at the time.
“This gives us great confidence in our regional target generation strategy and in the geological and structural interpretation from our Senior Geologist Claudio Sheriff-Zegers. As such, we have expanded our field team and boosted our man-power to fast-track regional assessment and enhance further target generation.
“Torian has honed its exploration methods to prioritise over 200 targets, ensuring a pipeline of quality targets which will pave the way for further discoveries.
“Furthermore, this significant discovery gives us the confidence to seamlessly continue the drilling campaign at Mt Stirling. Further assays will continue to confirm the breadth and predictability of the gold system, enabling Torian to proudly state that the drilling program has advanced to ‘on-going’ for the remainder of 2021.
“Additionally, the current round of results received from Mt Stirling continues to add considerable tonnage and ounces which will significantly increase the global scale and grade of the resource.
“We are additionally encouraged by what looks to be a significant continuation of the predicted gold system at depth, with our diamond drillers encountering significant Viserion lode material adding a further ~120m extension to the resource.
“Should results confirm our interpretation of a shear-hosted gold system that continues at depth, for considerable down-dip depth, it would mean that Mt Stirling’s multiple gold structures continue to have the potential to depth and resemble that of regional operating gold mines e.g St Barbara’s 4.8Moz Gwalia Mine and Saracen’s 3.8Moz Thunderbox Mine, given it remains open in all directions.
“The ongoing flow of high-grade results intercepted during our drilling campaign continues to justify our confidence in Mt Stirling, in that it is a much larger gold system than originally defined, with the system now exceeding 680m of strike and ~250m at depth. We anticipate that further results from our on-going drilling program will continue to intercept economic grade gold as we have demonstrated that we are ‘on the system’.
“In addition to extending the strike, Torian’s drilling has also intercepted grade above earlier reported historical drill hole intercepts which were used in the Company’s previous resource estimate.
“All the above (increase in strike, depth, and historical grade) gives us great confidence that when our interim resource is completed in the first quarter of this year, will result in a significant upgrade to our tonnage and gold ounces.
“2021 is shaping up to be an exciting year for our company as we anticipate significant news flow over the coming weeks and months. We eagerly await the results from an additional 11 drillholes from Phase 1 of the Mt Stirling program, along with results from 18 drillholes at Stirling Well, 21 exploratory drill holes at Diorite and the results from Phase 2 and the continuing phase 3 at Mt Stirling which now includes extensional diamond drilling.”