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ESTES PARK, CO / ACCESSWIRE / October 30, 2024 / Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) is providing an update on its Thor project located northeast of Trout Lake, British Columbia. Taranis has completed all of the field activities related to the 2024 exploration program at Thor. This exploration program had two main areas where exploration activities were focused, and these are discussed below.
Deep Drilling
A total of ten drill holes were completed in the Deep Drilling program of 2024. One drill hole was lost due to caving (Thor-241), and two others (Thor-244 & 245) were short confirmation holes that tested an unexpected zone encountered in Thor-242. Of the seven drill holes that tested deep exploration targets below the epithermal deposit, the average depth was 501 m. Drill hole results are pending, and will be provided once the analytical results are received and analyzed. The following table summarizes the statistics from the 2024 Deep Drilling program:
Drill Hole
Meters
Comments
Thor-241
105.5
Lost hole
Thor-242
576.0
South Tusk target
Thor-244
105.0
Thor-242 confirmation
Thor-245
141.0
Thor-242 confirmation
Thor-246
525.0
Spider Hole resistivity target
Thor-247
393.0
Spider Hole resistivity target
Thor-248
496.0
Spider Hole/magnetic target
Thor-250
546.0
West Spider Hole
Thor-251
393.0
Spider Hole resistivity target
Thor-252
579.0
North Crab Claw resistivity target
Total
3,859.5
One main drilling access road was completed in the area south and east of the Broadview Mine, and this road was approximately 1,100 m in length. A considerable amount of analytical sampling was undertaken on the drill cores, and this included standard drill core sampling to assess mineralization and specialized sampling that included determinations of graphitic carbon, calcite, rare earth elements and major oxide geochemistry.
Exploration Item
No. of Samples
Deep Drilling Assaying
~680
Deep Drilling Alteration Analytical
185
Total Samples
~865
Taranis has also initiated investigations regarding the mineralogy of drill cores from the deep drilling, and the results of this will be forthcoming.
Horton Area
Exploration continued in an area west of the Great Northern Zone where many high-grade boulders were discovered late in the 2023 field season. Systematic multi-channel Very Low Frequency ("VLF") and ground magnetic/gradiometer surveys were completed on a grid established in 2024 that covered this area. Soil sampling with a mechanized auger was completed on the grid and Induced Coupled Plasma ("ICP") trace element sampling was completed on the soil samples.
The following table highlights the data that was collected from the exploration surveys that will be used to assess the origin of the high-grade surface boulders found in the area.
Exploration
Station Spacing
Number of Measurements/Samples
Ground VLF surveys
5m
1,230
Ground magnetic-gradiometer surveys
5m
860
ICP and gold soil samples
10m
205
Boulder sampling
N/A
33
Three short diamond drill holes were completed along the Horton Road which will provide additional information about the geology in this poorly understood area. The following table summarizes the three drill holes that were completed at Horton.
Drill Hole
Meters
Thor-243
100.21
Thor-249
83.21
Thor-254
90.22
Total
273.64
Horton was severely impacted by the 2024 wildfire, and virtually all the trees and surface vegetation were destroyed. The burn allowed for unprecedented exposure of new outcrops in the area, and the discovery of many more high-grade boulders at surface (Boulder Sampling). The results of these surveys will be available once all of the analytical data has been received, and the data has been interpreted.
Epithermal Drill Hole Confirmation
A single drill hole (Thor-253, 109.12 m) was completed in vicinity of the Great Northern Zone where previous drilling had intersected three ‘stacked' mineralized zones. This drill hole will aid in the interpretation of the main epithermal deposit but is also expected to add information pertaining to the deep drilling conducted in 2024.
About Taranis and Thor
Taranis Resources Inc. is a Canadian mineral exploration company. The Thor Project is in southeast British Columbia. Taranis has completed upwards of 250 drill holes, linking all previously known mines into a single, near-surface epithermal deposit that has been recently updated into an NI 43-101 Mineral Resource Estimate (see Taranis News Release dated April 11, 2024). In the summer of 2024, Taranis initiated deep drilling aimed at finding the source of the 2km long epithermal deposit. This exploration uses modern geological models and uses state-of-the-art exploration tools including airborne magnetotellurics, magnetics and geochemistry. The Company's approach is that many of the historic mines in the area are underlain by comparatively large mineral deposits that do not outcrop at surface and have the potential to become much larger deposits that can be mined using modern mining methods.
Qualified Person
Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under the meaning of Canadian National Instrument 43-101. John Gardiner is a principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News Release.
For additional information on Taranis or its 100%-owned Thor project in British Columbia, visit www.taranisresources.com.
Taranis currently has 99,627,581 shares issued and outstanding (113,093,135 shares on a fully-diluted basis).
TARANIS RESOURCES INC. Per: John J. Gardiner (P. Geo.), President and CEO
For further information contact:
John J. Gardiner 681 Conifer Lane Estes Park, Colorado 80517 Phone: (303) 716-5922 Cell: (720) 209-3049 [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This News Release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from expected results.
