Mt Stirling Gold System Strike Now Exceeds 1km
Torian's Executive Director Mr Peretz Schapiro said "Cracking 1km of Strike at Mt Stirling represents a significant milestone for our Company. With each batch of results received, it becomes clearer and clearer to us that we're sitting on something quite substantial at Mt Stirling. We have demonstrated that we are 'on the system', with our immediate task being to define the actual footprint of Mt Stirling, as it continues to remain open along strike and depth.
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 (ASX:SBM) 4.8Moz Gwalia Mine and Saracen's (ASX:SAR) 3.8Moz Thunderbox Mine, given it remains open in all directions.
It is well known that the exploration industry is unfortunately plagued with delays and unforeseen events. The philosophy of our leadership team and staff is to turn these challenges into opportunities and make the most of these situations. So, whilst we are frustrated and disappointed with ongoing mechanical failures at the lab which has resulted in a delay to our much-anticipated resource upgrade, it has also presented us with the opportunity to cram in some last-minute assays into the resource, including assays from the newly discovered western zone. Had the resource update already been delivered, these assays would not have been included.
Results received continue to fill us with confidence that when our interim resource estimate is completed later this month, it will result in a significant update to our tonnage and gold ounces at Mt Stirling. The interim resource will provide the Company with strong fundamental backing as we continue our journey to develop Mt Stirling into a Gold Camp.
In addition to attempting to prove up a larger footprint at Mt Stirling itself, we will soon be actively following up with other high priority targets in the region. For instance, there have been historical gold intercepts 1.2km NW and along strike from Mt Stirling. We are excited about a potential connection between Mt Stirling Well and Mt Stirling. We will be following up on the Blue Jacket prospect to the east, which has historical gold intercepts alongside some deep historical shafts, in addition to following up on the newly discovered eastern zone at Mt Stirling and the prolific Ursus fault (Figure 5*). We are also looking forward to follow up work on Diorite, particularly around the high grade historical mines and soil and rock chip anomalies.
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 remaining results from Mt Stirling, some of which will feed into our resource upgrade, in addition to the results from 18 drillholes at Stirling Well, 19 exploratory drill holes at Diorite and the continued exploration of our Mt Stirling and Diorite 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