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Enter Symbol
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Taranis Resources Inc
Symbol TRO
Shares Issued 42,124,989
Close 2014-04-17 C$ 0.04
Market Cap C$ 1,685,000
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Taranis acquires Lyme Dyke project near Thor

2014-04-22 13:27 ET - News Release

Mr. John Gardiner reports

TARANIS RESOURCES INC. ACQUIRES 11 KM LIME DYKE AG-AU-PB-ZN-CU TREND ADJACENT TO THOR PROJECT

Taranis Resources Inc. has acquired a 100-per-cent interest in a property located northeast of the Thor project that covers a precious- and base-metal trend historically referred to as the Lime Dyke. This trend includes a number of old prospects that have high-grade precious- and base-metal occurrences, and were subject to exploration by Cominco in the 1950s, and most recently by Mineral Mountain Resources Ltd.

The Lime Dyke property is 1,083 hectares in size, and contains a number of mineral occurrences that have metal content and geology similar to the Thor property. The precious- and base-metal occurrences occur within a parallel belt of rocks located 10 kilometres to the northeast of Thor. Based on exploration work completed by Taranis at Thor, the Lime Dyke trend appears to be regionally related to the Thor deposit. Precious- and base-metal sulphides including galena, sphalerite and chalcopyrite occur along the contact between the Index limestone and an underlying unit of graphite schist. The contact has been subjected to tectonic overprints, including folding and faulting along the limbs of folds similar to that seen at Thor.

John Gardiner, president and chief executive officer of Taranis, comments: "All of our activity in British Columbia has been restricted to developing a resource at Thor that is economically viable, but it is important to simultaneously undertake a district-scale approach to exploration that has the capability to assemble mineral deposits into a collective tonnage that enhances the possibility of economic development. This is particularly important in areas where historical exploration has demonstrated that deposits are generally in the [two-million-to-seven-million-tonne] range, but are relatively high grade. While Thor remains the cornerstone of our activity in the area, the Lime Dyke property is very reminiscent of what the Thor project looked like when Taranis acquired it in 2007. With focused and continued exploration work, we feel that the Lime Dyke property has the ability to add substantial value to our Trout Lake resource base that has Thor as its centrepiece."

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