LAKEWOOD, CO, Jan. 25 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V: TRO) continues to outline a large precious and base metal bearing deposit found within the Combined Metals Unit ("CMU"), now extending for over 1.6 km in strike length on its Thor property in southeastern British Columbia.
The Ankerite Zone is a newly discovered zone found on the north end of the True Fissure Zone ("TFZ") that primarily hosts gold and silver. The shallow nature of the zone and geometry make it potentially amenable to open-pit extraction.
Ankerite Zone
Fourteen shallow drill holes were completed in an area located between the TFZ and the Blue Bell South/North Zones, primarily to understand the connection between these two areas. This area has never been explored and demonstrates that the CMU connects the two areas, but is dominated by carbonate-rich facies of the CMU.
Section 170m North
Drill holes Thor-31 (-45 degrees) and Thor-32 (-65 degrees) were drilled from the same setup and indicate that the TFZ is open down-dip of this area.
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Thor-31
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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40.54 42.43 0.94 92.16 0.04 1.85 0.93 1.89
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Thor-32
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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42.09 44.59 0.43 11.77 0.02 0.10 3.29 2.50
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Drill holes Thor-33 (-45 degrees) and Thor-34 (-45 degrees) were drilled
up-hill hill from Thor-31 and Thor-32 from two separate setups, and
intersected the up-dip portion of the CMU very close to surface.
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Thor-33
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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29.41 31.00 0.61 43.78 0.41 Trace 0.02 1.59
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Thor-34
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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6.10 7.62 0.63 17.07 0.02 0.31 0.23 1.52
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Section 230m North
Drill holes Thor-35 (-45 degrees), Thor-18 (-45 degrees) were drilled from
different setups and indicated that the zone starts to pinch-out to the north
before continuing into the Blue Bell Mine.
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Thor-35
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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3.72 6.10 0.02 12.17 0.02 0.62 0.20 2.38
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Thor-18 intersected a wide zone of gold mineralization within highly
deformed quartz-sulphide breccia of the CMU.
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Thor-18
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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22.65 34.72 0.53 7.93 0.01 0.02 0.01 12.07
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Thor-40 (-45 degrees) was drilled down-dip of hole Thor-18 and failed to
intersect any significant mineralization and indicates that the zone is
faulted-off at depth.
Section 295m North
Drill hole Thor-36 (-45 degrees) was drilled up the hill from a setup
where drill holes Thor-37, Thor-38 and Thor-39 were collared.
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Thor-36
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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5.27 6.64 0.60 16.14 0.10 0.01 0.01 1.37
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Thor-37 (-45 degrees), Thor-38 (-65 degrees) and Thor-39 (-85 degrees)
were drilled from the same setup. The uppermost holes intersected zones of
precious metal and copper mineralization.
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Thor-37
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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28.35 30.85 0.43 57.49 0.22 Trace 0.02 2.50
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Thor-38
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From (m) To Au Ag Cu Pb (%) Zn (%) Thickness
(m) (g/t) (g/t) (%) (m)
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22.37 26.46 0.54 18.79 0.08 Trace 0.01 4.09
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Thor-39 intersected only a wide zone of anomalous gold and silver mineralization, and indicates that the zone is faulted-off at depth.
Section 325m North
Thor-19 (-45 degrees) was completed on this section and failed to intersect any significant mineralization.
Section 385m North
Thor-20 (-45 degrees) and Thor-21 (-90 degrees) were completed on this section from the same setup and failed to intersect any significant mineralization. This area is the furthest known extent of the CMU before entering the Blue Bell Mine area.
John Gardiner, President and CEO of Taranis Resources Inc. states "The Ankerite Zone is a previously undocumented type of mineralization at Thor, and is found in the carbonate and silica-rich portions of the CMU. Similar to the TFZ, the Ankerite Zone is faulted-off at depth along a fault that has tectonically transposed portions of the CMU. Taranis believes that the other portion of the zone continues at depth under the Great Northern Zone found 500 m south of this area."
Analytical work was completed by the AccurAssay Laboratories in Thunder Bay, Ontario that is accredited to Standards Council of Canada, Scope of Accreditation 434 (conforms with requirements of CAN-P-4D (ISO/IEC 17025), and CAN-P-1579). Drill core is logged on-site and is sawed in half for analysis. One half is retained for geologic records and further assay verification if required. Exploration activities on the Thor property were overseen by John Gardiner (P. Geol.) and Jim Helgeson (P. Geo.), both Qualified Persons under the meaning of Canadian National Instrument 43-101.
About Taranis Resources Inc.
Taranis currently has 14,847,008 shares issued and outstanding (16,530,376 shares on a fully-diluted basis).
TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geol.),
President and CEO
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adequacy or accuracy of this release.