Vancouver, British Columbia--(Newsfile Corp. - November 16, 2016) - Taranis Resources (TSXV: TRO) announced additional results from its 2016 exploration program at its Thor project. The Thor project, primarily a silver deposit, with valuable concentrations of gold, lead, zinc and copper, is located in southeast British Columbia near Revelstoke.
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Thor-177 was drilled in an area that is transitional between the Great Northern Zone and the Broadview Mine area, an area that had received almost no drilling prior to 2016. Drill hole Thor-177, outlined multiple zones including 628 grams per tonne silver equivalent over 2.5 metres. Other zones recorded 428 grams per tonne over 3.26 metres and 352 grams per tonne over 2.25 metres, silver equivalent.
This intercept, which totalled 35 metres, is particularly noteworthy in that it intersected 3 zones that may in fact be the same zone folded into a tight, recumbent 'S-shaped' fold structure. This leads to a pronounced right handed shift of zones in this area, and it now appears that the great Northern Zone and Broadview Zones are in fact the same zones.
Drill hole Thor-175 also intersected 3 zones, including 14 metres grading 407 grams per tonne silver equivalent. Drill hole Thor-179, 60 metres to the northeast, recorded 2 zones, with the best grading 3.5 metres of 190 grams per tonne silver equivalent.
Additional drilling will be required to accurately define the fold structure.
In 2013, the company filed a maiden NI 43-101 Resource, showing:
- 6.9 million ounces of silver,
- 35,000 ounces of gold,
- 57 million lbs of lead,
- 79.4 million lbs of zinc,
- 3.3 million lbs of copper,
in Indicated and Inferred categories, residing in a low-cost, open pit mining operation.
The shares are trading at $0.115 and with 51.8 million shares outstanding, the company is capitalized at $6 million.
For more information, please visit the company's website www.taranisresources.com, contact John Gardiner, President and CEO, at 303-716-5922 or email [email protected]
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