Taranis Resources Inc. (TRO:CA) has provided an update on activity related to its Thor project.
Gold pilot plant
Taranis has purchased at 50-kilowatt generator plant that will be used to power the gold pilot plant that is already erected on site. A contractor has been engaged who will use a large excavator-mounted hydraulic hammer capable of breaking up the SIF outcrop for processing through the plant. The gold pilot plant is fully permitted and operations will begin after June 16, 2017.
Permitting (Ridge Target & Broadview Mine Area)
Taranis has advanced two Multi Year Area Based (“MYAB”) permits that are now undergoing internal review by the Ministry of Energy and Mines and First Nations consultation.
The Ridge Target MYAB includes drilling from widespread drill sites seeking to find the northern continuation of the Thor deposit up to 2 km north of the existing deposit. There are features indicative of a buried deposit in this area, including large gossans, gold-bearing float, and volcaniclastic rocks of the Jowett formation. The prospective horizon is buried under rocks of the Broadview Formation that form a large topographic ridge, and the drill will be moved by helicopter.
The Broadview MYAB permit is part of the 1G exploration efforts on the property, and involves continued delineation drilling of the Broadview Mine area. Thirty-one drill sites and further road building are required to complete definition of a resource in this area.
3D Geological Mapping
Taranis is placing priority on developing a 3D geological map of the Thor property. This ongoing effort led to the identification of the Ridge Target in early 2017 and shows great promise in identifying other exploration targets on the project that could enhance the size of the known deposit.
About Taranis Resources Inc.
Taranis is an exploration company focused on the development of its 100%-owned Thor project in southeast British Columbia. The company’s mandate is to recognize mineral deposits early in the exploration cycle that can be developed through intelligent exploration and business alliances. For additional information on Taranis or its Thor project, please visit our website at www.taranisresources.com.
Taranis currently has 55,451,716 shares issued and outstanding (62,926,716 shares on a fully-diluted basis).
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