Taranis updates Thor resources adding +78% indicated, +41% inferred tonnes

Taranis Resources (TSXV: TRO; OTCQB: TNREF) has updated the resource estimate at its Thor polymetallic project near Trout Lake, B.C. The exercise resulted in a 78% increase in indicated tonnes and a 41% increase in inferred tonnes.

The recent estimate covers both pit-constrained and out of pit material. There is a total of 1.1 million indicated tonnes at 0.75 g/t gold (4,000 contained oz.) and 152 g/t silver (5.6 million oz.) plus payable copper, lead and zinc. The inferred portion stands at 599,000 tonnes grading 0.66 g/t gold (12,800 oz.) and 117 g/t silver (2.3 million oz.)

The real prize at Thor might be the base metals in the deposit. In the indicated category, there are 3.1 million lb. of copper, 77.9 million lb. of zinc, and 47.8 million lb. of lead. There are another 2 million lb. of copper, 43.5 million lb. of zinc, and 20.9 million lb. of lead in the inferred resource.

Taranis acquired the Thor project in 2006 and since then has defined an epithermal deposit with a strike length of over 2.5 km as defined by over 250 drill holes. There are five small historic producers on the property – Broadview, Great Northern, True Fissure, Blue Bell, and St. Elmo. These mine operated between 1898 and 1973.

The company says the Thor deposit underlies an epithermal deposit that is believed to be related to a n intrusive body that is not exposed at the surface. Taranis says the exploration potential is good, with targets such as the recently discovered Thunder zone and the high-grade Horton target found west of the Thor deposit last year.

The Horton deposit is near-surface, and the north end of the Thunder zone which continues under Thor’s Ridge. Also of interest is the Intrusive target under the Thor deposit. Deep exploration drilling is planned for this year.

Read more about the Thor project on www.JJGmining.com.