Quarterly Activities Report
Perth, Oct 29, 2021 AEST (ABN Newswire) - Torian Resources Ltd (
ASX:TNR) is pleased to report on exploration and other corporate activities during the September quarter.
During the quarter the Company continued to expand the Mt Stirling Gold Project with two new prospective targets Hydra and Tyrannus and confirmed gold mineralisation at both. The Company also continued drilling at the Diorite project, with positive results from that campaign announced subsequent to th quarter.
RC Drilling also extended Viserion up-dip mineralisation on key sections, with drilling also targeting Eastern Zone continuity and structural interpretation.
Highlights:
- Significant Arsenic Surface Anomaly at Tyrannus
- Diorite Regional Reconaissance Drilling Results
- RC Drilling Campaign Commences at Diorite
- Extension of Gold System Confirmed at Mt Stirling
- Hydra Gold Mineralised Target Zone Confirmed
- Mt Stirling Gold System Expanded and Extended 280m Further SE
- Tyrannus Gold Multiple Target Zones Confirmed
- Torian to Complete BullionFX Equity Swap Agreement
- Debut of Monger Gold Ltd (ASX:MMG) on ASX, Torian retains a ~10.7% interest and a 20% free carried JV interest in the projects
- Funding secured to settle on the Tarmoola Station
- New Options Rights Issue for Shareholders
From a corporate perspective, the Company successfully floated its spin off, Monger Gold (ASX:MMG) on the ASX, secured funding to settle on the Tarmoola Station, announced a New Options Rights Issue for shareholders, and had the conditions of the equity swap agreement with BullionFX met. The equity swap was completed subsequent to the quarter.
From a funding perspective, the company enjoys a healthy bank balance in excess of $3M following the early conversion of many TNRO options.
To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/DG52U63X
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.
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