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- Torian Resources (TNR) has intersected high-grade surface mineralisation from drilling at the Mt Stirling Gold Project in WA
- Today’s batch of results follows a recent 200 per cent increase to the Mt Stirling mineral resource estimate, however the upgrade included only 740 metres of strike from the total interpreted 1160 metres
- The latest results weren’t included in the mineral resource which, along with Torian’s ongoing drill program, provide an opportunity to upgrade the resource twice more before the end of this year
- Company shares are trading steady at 3.2 cents
Torian Resources (TNR) has released additional shallow gold results from drilling at the Mt Stirling Gold Project in WA.
A stand-out result came from the eastern zone which returned significant high-grade surface mineralisation. The intercept includes two metres at 8.02g/t gold from one metre including one metre at 15.19g/t gold.
Additional results include one metre at 2.52g/t gold from 22 metres and four metres at 1.6g/t gold from 39 metres including one metre at 4.06g/t gold from 41 metres, and one metre at 4.92g/t gold from 88 metres.
The drill results provide an opportunity to conduct follow-up, in-fill and extensional drilling, as well as structural and geological mapping.
Today’s announcement follows Torian delivering an updated mineral resource estimate for the Mt Stirling Project.
Despite increasing the mineral resource by 200 per cent to 2.05 million tonnes at 1.54g/t for 102,000 ounces of gold, Torian’s shares fell 20 per cent.
According to the company, only 355,000 tonnes at 1.7g/t for 20,000 ounces of gold is categorised as indicated, with the remaining being under the inferred category. The resource also only included 740 metres of strike from a total interpreted 1160 metres.
“The sheer amount of shallow gold mineralised zones that were not included in the recent resource, gives us great confidence, that we will be able to significantly increase the size of the resource in coming weeks and months,” Executive Director Peretz Schapiro said.
“It is becoming increasingly apparent that the recent resource estimate is just the beginning of what promises to be an exciting future for Torian, as we have only just ‘scratched the surface’ of the Mt Stirling Gold Project.”
Mineralisation remains open in all directions and drilling is planned at multiple priority targets.
Company shares are trading steady at 3.2 cents at 1:06 pm AEST.
