(via Thenewswire.ca)
Lakewood, Colorado / TheNewswire / October 25, 2016 – Taranis Resources Inc. (“Taranis”) [TSX.V: TRO] is pleased to announce further results from its 2016 drilling program
at its Thor project in southeast British Columbia. Drill holes Thor-169, 170 and 180 were completed along a 100 m strike length in
an area where the True Fissure and Great Northern Zones are connected, and were completed in an attempt to better understand how
these two portions of the Thor deposit are related geometrically. Based on the results, it appears that the Great Northern and True
Fissure Zones are “en-echelon”. This area has seen no previous drilling, and the mineralization encountered is very close to
surface. All holes were drilled normal to the strike and dip of the zones and approximate the true
thickness.
Drill Hole Thor-169
Thor-169 was drilled at an angle of -450 and 40m north of drill hole Thor-49 (completed in 2008) that intersected
362.7 g/t AgEq over 1.68m. The wide intercept encountered in drill Hole Thor-169 demonstrates that the zone of mineralization in
this area is prone to pinching and swelling, probably due to tight isoclinal folds that plunge shallowly to the
northwest.
|
Hole No. & Zone
|
From (m)
|
To (m)
|
Interval (m)
|
Silver (g/t)
|
Gold (g/t)
|
Cu (%)
|
Lead (%)
|
Zinc (%)
|
Silver Equivalent (g/t)
|
|
Thor-169 GN
|
36.58
|
43.80
|
7.22
|
156.1
|
0.88
|
0.09
|
4.10
|
2.39
|
426.6
|
Drill Hole Thor-180
Drill Hole Thor-180 (-450) was drilled 54 m northwest of drill hole Thor-169 and intersected a single zone of
mineralization. This hole suggests that the main Great Northern Zone begins to flare out in the structural footwall of the True
Fissure Zone found further to the northeast.
|
Hole No. & Zone
|
From (m)
|
To (m)
|
Interval (m)
|
Silver (g/t)
|
Gold (g/t)
|
Cu (%)
|
Lead (%)
|
Zinc (%)
|
Silver Equivalent (g/t)
|
|
Thor-180 GN?
|
33.95
|
36.00
|
2.05
|
60.1
|
0.33
|
0.09
|
0.03
|
0.02
|
90.7
|
Drill Hole Thor-170
Drill Hole Thor-170 (-450) was drilled 140m north of hole Thor-49, and intersected two zones. The upper zone is
predominately gold and silver bearing, and the lower zone is enriched in base metals.
|
Hole No. & Zone
|
From (m)
|
To (m)
|
Interval (m)
|
Silver (g/t)
|
Gold (g/t)
|
Cu (%)
|
Lead (%)
|
Zinc (%)
|
Silver Equivalent (g/t)
|
|
Thor-170 GN Upper
|
9.97
|
11.89
|
1.92
|
23.3
|
0.95
|
0.26
|
0.32
|
2.33
|
195.9
|
|
Thor-170 GN Lower?
|
36.88
|
39.01
|
2.13
|
4.8
|
0.09
|
0.01
|
0.51
|
0.84
|
56.0
|
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:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
RELEASE.
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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