Further High Grade Results Uncovered at Mt Monger - Wombola
As announced in the Company's recent Rights Issue Prospectus, the Company intends to invest a significant portion of the funds raised on systematic exploration of the prospective Mt Monger - Wombola Projects which are located in close proximity to Silver Lake Resources' (ASX:SLR) flagship Mt Monger mine (Daisy Complex).
As previously announced (17 July 2020), the Company's geological team are in the process of assembling and interpreting all the historical drilling data on the Company's Mt Monger tenements.
The July 17 announcement was focused on the Providence prospect, with this update focused on the Hoffman and Ludlow prospects.
High Grade Drilling Results Uncovered at Hoffmann and Ludlow Prospects within the Mount Monger Project - Wombola Area
The continuing desktop review of Torian's Mount Monger Project - Wombola area has so far uncovered 7,356 historic drill holes with up to 50,000 metres of drilling within Torian's tenements.
High grade historical drilling results have been uncovered within the Hoffmann and Ludlow Prospects within Torian's Wombola Tenement Area (Figure 6*). These prospects are along strike from the adjacent historical Wombola Dam and Wombola open-cut mining pits to the west as well Silver Lakes Resources' (ASX:SLR) current mineral resource. (SLR announcement entitled "Mineral Resources and Ore Reserves Statement" dated 27 August 2019).
Torian Executive Director Mr Peretz Schapiro said, "As previously announced we have had fresh eyes digging into the extensive datasets across our projects.
In particular, we have embarked on a property-wide systematic exploration effort at the Mt Monger - Wombola Project which surrounds much of Silver Lake Resources (ASX:SLR) flagship Mt Monger Mine. The area has produced more than 1.67Moz with over 330,000 oz mined in the last 24 months alone (Table 1*).
We are encouraged by the fact that as we continue analysing historical drill results, we continue to uncover high grade and significant gold intercepts, indicating the potential for further discoveries. This bodes well for the continuation of the desktop works being undertaken on the Mt Monger project, which will ultimately lead to exploration drilling across those tenements.
Torian is a company with excellent projects, in the right locations, next to some major operating mines, of which management is committed to systematically explore. We look forward to updating the market on the results of our exciting exploration programs across our multiple prospective gold projects."
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About Torian Resources Limited
Torian Resources Ltd (ASX:TNR) is a gold exploration and development company with an extensive and strategic land holding comprising eight projects and over 400km2 of tenure in the Goldfields Region of Western Australia.
Torian's flagship project, Zuleika, is located along the world-class Zuleika Shear. The Zuleika Shear is the fourth largest gold producing region in Australia and consistently produces some of the country's highest grade and lowest cost gold mines. Torian's Zuleika project lies north and partly along strike of several major gold deposits including Northern Star's (ASX:NST) 7.0Moz East Kundana Joint Venture and Evolutions (ASX:EVN) 1.8Moz Frogs Legs and White Foil deposits.
Torian's other projects include the strategically located Mt Stirling and Malcolm Projects in the Leonora region (near Red 5's King of the Hills Project), where it recently completed updated Mineral Resource Estimates and preliminary scoping studies, and a suite of other projects in the Kalgoorlie region including Credo Well JV Zuleika JV, Bonnie Vale, Gibraltar and Mount Monger/Wombola.
Torian Resources Limited