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Torian Resources Limited (TNR.AX) Tyrannus Gold Footprint Expanded

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Torian Resources Limited
Torian Resources Limited

Torian Resources Limited (TNR.AX) Tyrannus Gold Footprint Expanded

Perth, Australia, Oct 26, 2021 - (ABN Newswire) - Torian Resources Limited (ASX:TNR) is pleased to announce that Tyrannus gold footprint has been extended to 1000m with oxide mineralisation confirmed at various high priority targets in and around the Tyrannus prospect by AV drilling at the Mt Stirling Gold Project within anomalous surface pXRF arsenic zones.

To date, arsenic anomalies has proven to be highly correlated with gold occurrences and provide a significant vectoring footprint to oxide and potential primary mineralisation.

The Company has now planned a 39-hole RC drilling campaign to follow up on these AV gold results, with 20 holes to be drilled in coming weeks to test 14 interpreted target zones.

Torian's Executive Director Mr Peretz Schapiro said "We continue to see our methodical exploration strategy pay dividends, with numerous high priority targets being uncovered. Our recently updated geological model is really exciting as it points to the potential presence of one large and interconnected gold system. Our exploration strategy ensures that the relatively more expensive RC holes are placed where we have already confirmed gold mineralisation. We are eager to end 2021 with a bang as we drill some of these exciting and highly promising targets. We are anticipating significant news flow over the coming weeks as we look forward to further results from the entirety of the Mt Stirling Gold Project (Diorite East, Diorite North (Unexpected), Mt Stirling SE, Mt Stirling East, Stirling Well, Hydra, Viserion, and Tyrannus) as well as the continuation of drilling at our high priority targets. I would also like to thank our many option holders who have converted their options now to take advantage of the New Options Rights Issue. (ASX announcement 29 Sep 2021) We are blessed with a very committed and loyal shareholder base, so raising capital from our option holders as opposed to outside investors allows us to "keep it in the family" as we continue to grow this company together.

Auger Vacuum drilling provides clean uncontaminated samples of overburden and oxide material above hard rock basement that are able to be screened by pXRF for vectoring minerals and elements and contoured to map out dispersion of elements and minerals of interest. AV provides a low impact and cost-effective method to detect out the leakage of mineralised systems onto interpreted structures and prospective lithological contacts.

Torian Resources Limited (Torian or the Company) continues in partnership with Strataprobe (AV) Drilling, in providing the technical successful on-going target generation, therefore de-risking and ranking priority targets for RC drill definition, ensuring the global increase resource base of the Mt Stirling Project.

Tyrannus Regional Update

Tyrannus gold footprint has been extended to 1000m with Auger Vacuum (AV) selective arsenic-rich samples returning further gold intercepts from target zones ~400m further NW.

Tyrannus oxide mineralisation is expanding in both strike and width at multiple areas amenable to open pittable Resource(s) due to the shallow and supergene nature of gold discovered adjacent to an inflection position of the NNW Ursus Fault.

Additional single-metre sampled zones from vertical AV drilling coincide with previously discovered surface pXRF arsenic (As) anomalous zones:

- 1m @ 5.13 g/t Au from 14m (MSAV0464)
- 1m @ 2.09 g/t Au from 8m (MSAV0474)
- 1m @ 2.41 g/t Au from 16m (MSAV0495)
- 1m @ 1.88 g/t Au from 11m (MSAV0512)
- 1m @ 3.46 g/t Au from 2m (MSAV0532)
- 1m @ 0.87 g/t Au from 2m (MSAV621)
- 1m @ 1.91 g/t Au from surface (MSAV625)

Broader zones have also been confirmed from assays immediately surrounding previously reported (ASX 5th Octcober 2021) single meter sampled intercepts, with mineralised zones:

- 6m @ 1.72 g/t Au from 10m (MSAV0464); inc 1m @ 5.13 g/t Au from 14m
- 3m @ 2.01 g/t Au from 2m (MSAV0471); inc 1m @ 4.64 g/t Au from 3m
- 3m @ 1.47 g/t Au from surface (MSAV0472); inc 1m @ 3.07 g/t Au from 1m
- 2m @ 2.55 g/t Au from 8m (MSAV0474); inc 1m @ 3.01 g/t Au from 9m
- 2m @ 1.41 g/t Au from 16m (MSAV0495); inc 1m @ 2.41 g/t Au from 16m
- 3m @ 0.94 g/t Au from 11m (MSAV0512); inc 1m @ 1.88 g/t Au from 11m; and
2m @ 2.37 g/t Au from 19m; inc 1m @ 3.35 g/t Au from 20m
- 4m @ 1.73 g/t Au from surface (MSAV0532); inc 1m @ 3.46 g/t Au from 2m

In some areas of the prospect gold is dispersed throughout both supergene and transitional regolith of AV drill hole to saprock, with significant widths and intercept zones of:

- 10m @ 1.12 g/t Au from 10m (MSAV0464)
- 9m @ 0.75 g/t Au from 2m (MSAV0471)
- 12m @ 0.64 g/t Au from 4m (MSAV0474)
- 6m @ 0.87 g/t Au from 12m (MSAV0495)
- 10m @ 0.76 g/t Au from 11m (MSAV0512)
- 5m @ 1.47 g/t Au from surface (MSAV0532)

Tyrannus Discovery Maiden RC planned drilling

20 RC drill holes (from 39 planned) will immediately test 14 interpreted target zones, with permitting approved and earthworks in progress.

Several structural orientations are present at Tyrannus, with linking structures likely to also have some controlling influence on gold mineralisation dispersion. Drill orientation will commence targeting sub-vertical NE dipping interpreted lodes and also be able to identify flat-plunging orientations.

A second phase will likely target NE striking mineralisation associated with NE shearing, with further exploration to target possible NNW striking SW-dipping interpreted mineralisation adjoining or originating from the Ursus Fault.

Tyrannus targets are structurally significant as they are situated on an inflection and splay junction of the Wonambi Shear termination onto Ursus Fault, ~400m east of Mt Stirling gold mineralisation, and are highly likely to merge onto and along strike of Mt Stirling SE mineralised Au lode positions.

There are 14 >0.10 g/t Au target zones with 7 > 1.00 g/t Au zones to be tested in upcoming RC drilling with earthworks advancing as permitting is also approved. Further gold assays from the recent AV drilling will aid positioning of planned drilling, and likely provide further target zones.

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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.


Peretz Schapiro

Torian Resources Limited

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