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Enter Symbol
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Taranis Resources Inc
Symbol TRO
Shares Issued 46,866,116
Close 2016-04-22 C$ 0.08
Market Cap C$ 3,749,289
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Taranis applies for ore processing permit at Thor

2016-04-26 13:50 ET - News Release

Mr. John Gardiner reports

TARANIS RESOURCES INC. APPLIES FOR PERMIT TO PROCESS HIGH-GRADE GOLD MATERIAL FROM THE SIF ZONE AT THOR

Taranis Resources Inc. has filed a notice of work application with the Ministry of Energy and Mines of British Columbia to process 1,000 tonnes of gold-bearing ore from the SIF zone at Thor.

Pending the approval of the permit, Taranis will process high-grade gold mineralization that has been subjected to extensive panel sampling and drilling and constitutes a small portion of a much larger zone that is Taranis refers to as the gold zone. Additional information is available on the company's website, including a video of the 2014 test processing of the material.

ALS Metallurgy completed processing on 117 kilograms of sample from the zone in 2014 that had a head grade of 16 grams per tonne gold (0.56 ounce per ton gold). Several methods were examined to process the material, but the gravity concentration yielded recoveries of over 80 per cent, and Taranis will utilize this method to process the material and gain a better idea of the gold content, distribution and recoveries. In 2013, Taranis took some of the material from Thor and processed it at the Mt. Baker test facility, and this test demonstrated that a shaker table set-up is ideally suited for the recovery of gold from the samples.

The processing will be done on site and utilize a one-tonne-per-hour processing plant that will carefully compare the gold content with the models that have been used at SIF. Based on this information, the company will then proceed to explore and develop the remainder of the zone using information gathered from the 1,000-tonne bulk sample.

Qualified person

Exploration activity at Thor is overseen by John Gardiner, PGeol, who is a qualified person under the meaning of National Instrument 43-101.

We seek Safe Harbor.

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