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Taranis Completes Summer Drilling Program at Naakenavaara and Continues Assembly of New Copper-Gold District in Northern Finland
(via Thenewswire.ca) Lakewood, Colorado, August 2nd, 2011 - Taranis Resources Inc. ("Taranis"...
About this update from Taranis Resources Inc.
[{"type":"text","content":"\nTaranis Completes Summer Drilling Program at Naakenavaara and Continues Assembly of New Copper-Gold District in Northern Finland\n\n(via Thenewswire.ca)\n\n \nLakewood, Colorado, August 2nd, 2011 - Taranis Resources Inc. (\"Taranis\") [TSX.V: TRO] has been acquiring a number of copper-gold bearing properties in Northern Finland, and has finished a drilling program aimed at advancing Naakenavaara into a Geologic Resource by delineating the \"Bulls-Eye\" that occurs on the Naakenavaara 1-4 Mining Claims.\n\n\n \nFINLAND (Naakenavaara 1-4 Mining Claims, and 5-14 Mining Claim Applications)\n\n\n \nTen exploration core holes (1,933.8 m) were completed in the \"Bulls-Eye\" area of the Naakenavaara copper-gold-cobalt-nickel project. Analytical results will be announced when the data has been received and interpreted. Naakenavaara is a unique opportunity to assemble a large open-pit deposit due to its shallow, nearly flat-lying nature of the mineralized zones, which can be drilled year round.\n\n\n \nA recent airborne EM survey over the \"Bulls-Eye\" has provided a framework of understanding for the geology of this unique feature. This same survey also covered a second area encapsulated by the Naakenavaara 5-14 Mining Claim Applications and it identified a number of high priority targets within a 10 km2 area that will be tested when the Mining Claim Applications are processed.\n\n\n \nThe summer 2011 drilling program was designed to evaluate the following aspects of the copper and gold-bearing lodes at Naakenavaara:\n\n\n \nGeological Model - The geological model is a Cypress-type, ultramafic dominated deposit that has a prolific vent' facies characterized by intense sericite and quartz alteration dominated by chalcopyrite, pyrite and pyrrhotite. This is overlain by the \"Black-Schist Unit\" composed of carbonaceous sediments that are also mineralized with chalcopyrite, pyrrhotite and gold. Cherty exhalite and greywacke overlie the Black Schist and form the stratigraphic hanging-wall. It is now suspected that within the \"Bulls-Eye\" the entire stratigraphic sequence has been overturned, and consequently the oldest rocks are found on top. A large ultramafic sill stratigraphically underlies the vent' facies and was probably the heat engine responsible for the formation of the deposit(s).\n\n\n \nStructural Geology - Holes were strategi...