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Lakewood, Colorado / TheNewswire / October 17, 2016 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] is pleased to announce further results from its 2016 Phase 1 drilling program at Thor. Thor-173 and Thor-178 were drilled on a geological cross-section through the deposit, adjacent to drill holes Thor-171 and Thor-172 whose results were previously announced (September 14th , 2016). and are summarized in this news release for comparative purposes.
Drill Hole Thor-178
Thor-178 was drilled at an angle of -450 and was drilled up-dip of Thor-171. This drill hole intersected the continuation of the newly discovered Great Northern Middle Zone.
Hole No. & Zone | From (m) | To (m) | Interval (m) | Silver (g/t) | Gold (g/t) | Cu (%) | Lead (%) | Zinc (%) | Silver Equivalent (g/t) |
Thor-178 GN Middle | 14.30 | 16.52 | 2.22 | 465.8 | 2.79 | 0.97 | 0.13 | 0.19 | 734.2 |
Of particular interest in this hole is the high level of gold and silver compared to base metal content. These holes in conjunction with other holes completed on the same section document a metal zonation where the silver and gold content increases up-dip in the Great Northern Zone. The intercept in Thor-178 occurs only 5 m below surface and it is possible that the target can be exposed with the use of an excavator.
Drill Hole Thor-173
Drill Hole Thor-173 (-900) was drilled down-dip of the previously reported drill holes Thor-171 and Thor-172. This drill hole intersected all three of the Great Northern Zones.
Hole No. & Zone | From (m) | To (m) | Interval (m) | Silver (g/t) | Gold (g/t) | Cu (%) | Lead (%) | Zinc (%) | Silver Equivalent (g/t) |
Thor-173 GN Upper | 12.65 | 18.59 | 5.94 | 43.7 | 0.34 | 0.06 | 0.79 | 0.63 | 115.9 |
Thor-173 GN Middle | 42.98 | 45.57 | 2.59 | 86.5 | 0.63 | 0.06 | 0.27 | 7.02 | 383.9 |
Thor-173 GN Lower | 67.36 | 73.76 | 6.38 | 2.9 | 0.04 | 0.00 | 0.06 | 0.32 | 18.9 |
Thor-171 & Thor-172 Comparison
For comparison purposes, the intersections for drill holes Thor-171 and 172 are shown below and show a when viewed in conjunction with holes Thor-173 and 178 show progressive metal zonation for each of the zones. Taranis has now completed an entire stratigraphic section through this area of the deposit, and it is posted on www.taranisresources.com
Hole No. & Zone | From (m) | To (m) | Interval (m) | Silver (g/t) | Gold (g/t) | Cu (%) | Lead (%) | Zinc (%) | Silver Equivalent (g/t) |
Thor-171 GN Middle | 34.02 | 36.27 | 2.25 | 683.8 | 0.53 | 0.3 | 4.4 | 4.5 | 1,027.2 |
Thor-171 GN Lower | 64.92 | 65.68 | 3.04 | 229.6 | 0.27 | 0.1 | 2.6 | 3.8 | 468.1 |
Hole No. & Zone | From (m) | To (m) | Interval (m) | Silver (g/t) | Gold (g/t) | Cu (%) | Lead (%) | Zinc (%) | Silver Equivalent (g/t) |
Thor-172 GN Middle | 37.70 | 40.75 | 3.05 | 237.7 | 0.27 | 0.14 | 1.08 | 2.09 | 370.1 |
Thor-172 GN Lower | 62.71 | 67.36 | 2.75 | 193.5 | 0.17 | 0.27 | 3.89 | 10.06 | 686.5 |
Qualified Persons
John Gardiner (P.Geol.) and Jim Helgeson (P.Geo.) are the Qualified Persons on the Thor Project, and supervised the preparation and scientific and technical disclosure in this News Release. Samples are taken under the direction of qualified geologists. Core is sawed on-site and one-half is retained for reference and further analytical work including specific gravity determinations. Samples of the other half are delivered by Taranis via courier to MS Analytical Labs in Langley, British Columbia. MS Analytical Labs is an ISO-9001:2008 certified analytical laboratory. Taranis inserts standards every 10th sample for quality control in addition to the stringent internal checks completed at MS Analytical. Samples are dried, crushed, split and pulverized. Analysis for silver, copper, lead and zinc and related trace elements was done by modified aqua regia digestion with ICP finish, and gold by 30-gram fire assay with ICP finish.
Silver Equivalent (AgEq)
Taranis uses Silver Equivalent ("AgEq") as a means of simplifying the tenor of intercepts at Thor. Thor is primarily a silver deposit, but also contains valuable concentrations of gold, lead, zinc and copper. These metals are converted to AgEq using the following metal prices; Silver $19.00/Oz., Gold $1,300/Oz., Lead $0.90/lb. and Zinc $1.05/lb. Copper $2.10/lb. All amounts are in US$. Recoveries are not factored into the calculation of the AgEq values. Additional information concerning the use of AgEq is available at the website www.taranisresources.com.
About Taranis Resources Inc.
Taranis currently has 49,766,116 shares issued and outstanding (56,066,116 shares on a fully-diluted basis).
TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geol.),
President and CEO
For further information contact:
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This News Release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from expected results.
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