Business
Taranis Updates Nevada Exploration Activities
LAKEWOOD, CO, March 11 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V: TRO) has completed 573 ...
About this update from Taranis Resources Inc.
[{"type":"text","content":"\n\n\n\nLAKEWOOD, CO, March 11 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V:\nTRO) has completed 573 m (1,880') of mud rotary drilling in five holes on its\nMidway East Project located in Nye County, Nevada.\n\n\nMidway East\n\n\nTaranis has completed 5 mud rotary holes on its 100%-owned Midway East\nProject located in Nye County Nevada. The drilling program tested a number of\nmagnetic features commonly associated with alteration in epithermal gold\ndeposits. All of the drill holes intersected Tertiary-age felsic volcanic\nrocks at relatively shallow depth (30-70 m below surface), but none of the\ndrill holes intersected ore-grade precious metal mineralization. No further\nwork will be conducted at Midway East and Taranis will focus its activities on\nits other Nevada projects.\n\n\nNeedles\n\n\nTaranis retains a 2% NSR on the Needles Project, and owns 2M shares in\nExcalibur Resources Ltd. (CNQ: EXBR), which recently announced drill results\nat the Needles Project, Nye County, Nevada. The most interesting drill hole is\nNeedles-63 which was drilled adjoining the Arrowhead Mine, and outlined\n2.34 g/t Au and 721.69 g/t Ag over 4.30 m (true thickness). Drilling is\nongoing at Needles for a planned 1,500 m exploration program.\n\n\n-------------------------------------------------------------------------\nNeedles-63\n-------------------------------------------------------------------------\nFrom To Interval Au Au Ag\n (m) (m) (m) (g/t)(1) (g/t)(2) (g/t)(3)\n-------------------------------------------------------------------------\n25.27 25.54 0.27 0.048 0.039 13.6\n-------------------------------------------------------------------------\n25.54 26.85 1.31 1.928 1.847 967.0\n-------------------------------------------------------------------------\n26.85 27.74 0.89 1.013 0.969 226.0\n-------------------------------------------------------------------------\n27.74 28.35 0.61 3.386 3.574 1,320.0\n-------------------------------------------------------------------------\n28.35 28.96 0.61 7.380 7.400 1,350.0\n-------------------------------------------------------------------------\n28.96 29.57 0.61 0.139 0.110 7.5\n-------------------------------------------------------------------------\nAverage 4.30 2.34 721.69\n-------------------------------------------------------------------------\n\n1- Original gold fire assay (...