Torian Resources has delivered a stream of gold results at the Mt Stirling and Viserion projects as it builds towards an updated mineral resource estimate by mid-April. The company also released an interpretation of the gold system plunge at Mt Stirling stating that it exhibits a series of stacked lenses and a shallow southerly plunge. Key structures are open along strike and at depth providing down dip and along plunge structural gold target zones as the company looks to build resources.
Best results in the current drilling include 3 meters at 3.81 grams per tonne gold, 4m grading 6.07 g/t, including 1m with 18.5 g/t, 2m going 5.24 g/t and 6m at 1.95 g/t gold.
The company has now completed the planned 42 hole exploration campaign at Mt Stirling-Viserion. After receiving significant high-grade gold intersections at Viserion additional holes were added to extend to the northwest and at Mt Stirling encouraging visual mineralisation intercepts directed additional holes.
Drilling continues for Torian with two reverse circulation rigs and one air vacuum rig continuing to drill at the Mt Stirling project. Results of a further 48 hole program are expected in March and April. The company reported the drilling at Stirling Well has commenced with follow up work at the Estera, Tyrannus and Hydra prospects planned.
Unusually in the current climate, the company is getting quick assay result turn around enabling rapid follow-up drill planning.
Torian Resources’ Executive Director, Peretz Schapiro said:“We have been exceptionally pleased with the progress of the current drilling campaign, as results continue to expand tonnage and global resource ounces and extend the gold system beyond the previous resource boundaries.”
In the current programme Torian targeted the shallow portion of the Mt Stirling-Viserion gold deposit to bring the gold resource to the JORC Indicated category. The extent of this infill drilling was along 880m of strike to a depth of approximately 125m.
Upon completion of the resource update Torian plans to undertake a 2022 Optimisation Study. Minecomp has been contracted to conduct a pit optimisation study assessing the economics and unlocking value from the Mt Stirling-Viserion gold system.
After completing the shallow resource drilling Torain will target deeper resource and gold system plunge extensions that remain open at depth and strike on all sections. The company has contracted three drilling rigs to continue drilling throughout March and into April.
Torian remains a highly active gold and rare earths exploration and development company with an extensive tenement position comprising six projects over 400 square km in the Goldfields region of Western Australia. The company says its projects are near excellent infrastructure and lie within 50km of major mining towns.
The flagship Mt Stirling Project has existing JORC resources of more than 110,000 ounces of gold and is situated approximately 40km northwest of Leonora, neighbouring Red 5’s King of the Hills mine. According to management, the region has recently produced approximately 14M ounces of gold from mines such as Tower Hills, Sons of Gwalia, Thunderbox, Harbour Lights and Gwalia.
Torian is unpacking a mountain of drill results to feed into its mineral resource update and open pit gold optimisation study at Mt Stirling. Gold seems to be everywhere with mineralisation open along strike, down plunge and at depth. With the gold bulls marching at present and unlikely to disappear soon there should be plenty of interest in the mineral resource update as the market looks to see what the company is sitting on.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
