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Taranis Resources Inc V.TRO

Alternate Symbol(s):  TNREF

Taranis Resources Inc. is a mineral exploration company. The Company is principally engaged in the acquisition, exploration and development of precious and base metal projects. The Company owns a 100% interest in certain mineral rights entitled the Thor Property located in the Revelstoke Mining District of British Columbia, Canada and holds certain contiguous mineral claims. It has drilled over 250 drill holes on the project, defining a near-surface epithermal deposit that is over 2 km long. The Thor project is a collection of over 27 Crown Granted Mineral Claims and approximately 14 Mineral Tenures covering approximately 3,314 hectares, which forms a contiguous property over the Thor precious and base metal Deposit. The Company, together with its subsidiaries, is engaged in acquiring and exploring its mineral properties.


TSXV:TRO - Post by User

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Post by GoWestMooseon Sep 01, 2012 10:26am
173 Views
Post# 20289308

Kittila is 17km away in Finland

Kittila is 17km away in Finland

Here is info on Agnico-Eagles Kittila Au mine, just 15-17km away to the NE & it is believed the Kiistala Fault Zone intersects the Sirkka Fault Zone. AEM also has property to the SE of TRO, so they know what they are doing:

The Kittila mine poured its first gold in January 2009, and reached commercial production on May 1, 2009, becoming Agnico-Eagle’s first mine to open outside of Canada. The Kittila mine, in northern Finland, has proven and probable gold reserves* containing 5.2 million ounces (35 million tonnes grading 4.7 grams/tonne gold) as of December 31, 2011. Indicated resource*: 1.0 million ounces (13 million tonnes at 2.5 g/t). Inferred resource*: 1.2 million ounces (8.0 million tonnes at 4.6 g/t). The deposit remains open for expansion at depth and along strike. Estimated mine life: 2009-2044

In the first six months of 2012, payable gold production of 81,986 ounces at a total cash cost per ounce of $615. Processed 540,000 tonnes of ore (2,969 tonnes/day), with minesite costs of €71 per tonne, tracking the cost estimate for the year.

  • Study examining increasing production rate by 25%, to be completed by late 2012. Capital cost of expansion expected to be less than $100 million. Additional study examining larger phased-in expansion is ongoing.
  • Exploration focusing on Rimpi zone and demonstrating continuity of mineralization at different depths. Deep drilling from 2,400-metre exploration ramp, which is under construction. Program underway to accelerate ramp development and exploration drilling toward northern end of orebody in 2012.

The region around the Kittila mine is underlain by mafic volcanic and sedimentary rocks of the Kittila Greenstone belt oriented roughly north to north-northeast and near-vertical. The volcanic units are further subdivided into iron-rich rocks to the west, and magnesium-rich rocks to the east. The contact between these two rock units is a north-south-oriented, 100- to 200-metre-thick structural zone (the “Suurikuusikko Trend”), which is strongly sheared, brecciated and characterized by intense hydrothermal alteration and gold mineralization.

The Suurikuusikko Trend hosts the Kittila deposit. Multiple mineralized zones have been traced over a strike length of more than 25 kilometres within the Suurikuusikko Trend. Most of Agnico-Eagle’s work has focused on the 4.5-kilometre segment that hosts the five main zones of the known gold reserves and resources. From south to north they are: Ketola, Etela, Suuri, Roura and Rimpi, which can be seen on the longitudinal section.

See Maps for Suurikuusikko Trend and “open at depth”: https://www.agnico-eagle.com/English/Our-Business/Operating-Mines/Kittila/Geology--Mineralization/default.aspx

History

1986 – Gold is discovered in the area, in a quartz vein exposed by a road cut, and is explored by the Geological Survey of Finland until 1991.
1998 – A Swedish exploration company, Riddarhyttan Resources AB, acquires the Suurikuusikko gold deposit from the Finnish government and focuses its efforts in this area.
2004 – Agnico-Eagle acquires a 14% ownership interest in Riddarhyttan and directs an extensive drilling program at the property.
2005 – Agnico-Eagle makes a successful bid for all remaining shares of Riddarhyttan.
2006 – Agnico-Eagle completes a final feasibility study, and begins construction of the mine, which is named after the nearby community of Kittilä.
2009 – First gold is poured on January 14. The processing plant achieves commercial production in May. Kittila celebrates its Grand Opening in June.
2010 – Underground commercial production begins on October 1.
2011 – At year-end, Kittila became Agnico-Eagle’s largest contributor to proven and probable reserves at 5.2 million ounces gold.

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