Taranis Resources Processing Ore at 100% Owned Thor Project in Southeast British Columbia - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - July 25, 2017) -Taranis Resources (TSXV: TRO) (OTCQB: TNREF) began processing ore at its 100%-owned Thor project. The Thor project, primarily a silver deposit, with valuable concentrations of gold, lead, zinc and copper, is located in southeast British Columbia near Revelstoke.
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The company is processing ore from the SIF gold deposit at its pilot gold mill. The primary purpose of the gold pilot plant is to ascertain the gold recovery and gold content of a portion of the main Thor silver deposit discovered in 2014 that is enriched in gold.
The full extent of SIF is unknown and could extent northward into the Ridge Target and downhill into the Scab Zone, presenting an exciting exploration opportunity at Thor. The Ridge Target is currently being permitted for a 5-year drilling program. This area is the north continuation of the existing deposit under Thor's Ridge and potentially extends the deposit roughly 2 kilometres to the north.
The outcrop is being broken by a large excavator and hydraulic hammer, and is transported along a 300 metre road to the processing plant. Ore is crushed to minus 1 inch in size and processed on a large 4' by 8' shaker table, producing a super-concentrate and concentrate which contains abundant visible gold. The concentrate consists mostly of black sand (magnetite) and minimal pyrite which accompanies the gold at SIF. The shaker table is highly effective at separating the gold from the quartz-rich gangue, and consists of 1mm gold grains and fine-grained gold dust.
Taranis has drilled approximately 200 holes to outline a near-surface, open pittable mineral deposit, and has recently completed metallurgical, environmental and financial analyses of the deposit.
The Thor deposit has an NI 43-101 Resource estimate consisting of silver, gold, lead, zinc and copper in the Indicated and Inferred categories, which equated to a 14 Million Ounce silver equivalent deposit.
The company's goal this year is to advance exploration on the deposit and surpass the 2.5 million tonne Resource threshold, and complete the second and final NI 43-101 Resource Estimate and Preliminary Economic Assessment.
The shares are trading at $0.085 and with 54.5 million shares outstanding, the company is capitalized at $4.7 million.
For more information, please visit the company's website www.taranisresources.com, contact John Gardiner, President and CEO, at 303-716-5922 or email johnjgardiner@earthlink.net.
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