Significant Arsenic Surface Anomaly at Tyrannus Prospect
Tyrannus is a new significant ~400m strike >10ppm As (arsenic pXRF surface soil anomaly) with a peak 46ppm As which has been discovered on the NNW Ursus Fault position.
The structural setting is significant as the Tyrannus discovery is situated on an inflection and splay junction of the Wonambi Shear termination onto the prolific Ursus Fault, ~400m east of Mt Stirling gold mineralisation.
Tyrannus position is along strike of Red5 Cerebus-Eclipse (2.8Mt @ 1.2g/t for 112k oz) and Centauri deposits (1.7Mt @ 1.5g/t for 81.3k oz) both located in similar positions to Ursus Fault.
Further pXRF infill surveys, along with structural and geological mapping, will help delineate and vector to potential gold mineralisation, AV and RC drill testing.
A further significant ~260m >100ppm As anomaly has also been discovered to the immediate west of Viserion mineralisation, on the Viserion Shear with a peak 1,244ppm As.
Although in close proximity to multiple drill sections of the recently drilled Mt Stirling Viserion lode, the surface position of this Viserion Shear target has not been tested, and has the potential to be sub-parallel mineralisation.
Hydra infill pXRF has delineated a ~340m strike >100ppm As with a peak 3,023ppm As surface anomaly situated on an inflection of the Viserion Shear ~ 1km NW and along strike of the Mt Stirling resource on the Viserion shear.
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 >1km strike continuity prospectivity if so.
These anomalies were uncovered using the Company's pXRF machine to analyse soils samples from the Company's ongoing surface geochem surveys over prospective structural and conceptual targets.
Arsenic has previously correlated with gold in the region, and recently led to the discovery of the Viserion lode at Mt Stirling. The Company is planning RC drilling to test these high priority targets and is awaiting permitting.
Torian's Executive Director Mr Peretz Schapiro said "As a Company we are committed to continuing our systematic exploration of the Mt Stirling Gold Project. In addition to working on proving up further ounces at the open Mt Stirling Resource, we are continuing to uncover further high priority targets of which we are excited to further explore.
As is clear from today's announcement we are blessed that the Mt Stirling Gold Project is endowed with so many high priority and prospective targets. We are eager to recommence RC drilling at the project and look forward to keeping the market informed of our progress."
Monger Gold Successful IPO
Torian Resources is pleased to announce the successful IPO of Monger Gold Ltd (ASX:MMG) on Tuesday the 6th of June. On its first day of listing Monger Gold closed at 28c per share, a 40% increase from the IPO Offer price of 20c per share.
Torian retains a 10.71% holding in Monger Gold, as well as a 20% free carried JV interest in the projects. Yesterday's closing price values Torian's escrowed shareholding in Monger Gold at ~$0.83M.
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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