- Torian Resources (TNR) Unveils Further “Significant” Gold Discoveries at Its Mt Stirling Project in Western Australia’s Eastern Goldfields Region
- The new assay results precede an updated mineral resource estimate for the project, which Torian says is expected to be delivered by mid-May.
- Torian first announced that he planned to release the resource update before the end of March, but that schedule has now been pushed back twice.
- Torian has completed over 18,900 meters of infill and step-out reverse circulation (RC) drilling across the MS Viserion gold system in the project area
- Shares of Torian Resources rose 7.69% to 2.8 cents each
Gold explorer Torian Resources (TNR) has unveiled further “significant” gold discoveries at its Mt Stirling project in the goldfields region of eastern WA, with an updated estimate of mineral resources in less than a month.
The Company announced today that it has completed over 18,900 meters of infill and reverse circulation (RC) step-out drilling on the MS Viserion gold system in the project area.
The latest batch of assays from this drill program returned results including a 23 meter intersection at 1.08 g/t gold from 40 meters, a six meter intersection at 2.17 g/t gold from 213 meters and a one meter intersection at 5.57 g/t gold from 109 meters.
The Mount Stirling mineral resource currently stands at 118,400 ounces of gold, but Torian expects to announce a new mineral resource estimate for the project in the coming weeks.
Torian chief executive Peretz Schapiro said the latest set of drill results further bolstered the company’s confidence in the Mount Stirling gold system ahead of this resource update.
“The most exciting part of the results we have received recently is that we have identified a host of prospective structural gold target zones down dip and along plunge at MS Viserion for continued discovery and expansion of ounces. of resources after the delivery of the anticipated resource upgrade,” Schapiro said.
The company originally planned to release the updated resource estimate before the end of March, but delayed it until mid-April. Now, Torian said some recent technical issues at the analytical labs have pushed the timelines further.
Nonetheless, the company maintained that it was still on track to deliver the new resource estimate next month.
Torian said it is still awaiting assays from 13 step-out holes, with a total of 48 holes to be included in the updated resource estimate.
Shares of Torian Resources rose 7.69% to 2.8 cents apiece at 3:44 p.m. AEST. The company has a market cap of $34 million.