Torian Resources encouraged by initial Mt Stirling Well results

THE DRILL SERGEANT: Torian Resources (TNR: ASX) released the first results from RC drilling underway at the company’s Mt Stirling Well project, located northwest of Leonora in Western Australia.

The initial round of 48 holes were designed to step out laterally from the area previously drilled to determine the strike extent of the mineralisation.

Highlights from latest results include:

2 metres at 27.21 grams per tonne gold from 55m, including 1m at 45.5g/t gold from 55m;

1m at 8.5g/t gold from 50m;

1m at 8g/t gold from 59m; and

7m at 10.8g/t gold from 46m, including 1m at 69g/t gold from 47m.

Torian explained that no holes to date have been drilled deeper than 72m, adding that a further 1,330m of drilling is in the process of being completed as part of the Phase 1 program.

The remaining Mt Stirling drilling program is expected to be completed in October 2016.

Torian has plans for the Mt Stirling Project over the next two months, which include completing Phase 1 of the step out RC drilling, commencement of a limited phase 2 RC drilling program to test several areas down to depths of approximately 100m vertical, and interpretation of all results received and plan further work.

When drilling is complete at Mt Stirling Well, Torin intends moving the rig to Mt Stirling to test an area of mineralisation historically identified to be present within a steeply dipping shear zone contained within a basaltic host.

“These results are very encouraging,” Torian Resources managing director Matthew Sullivan said in the company’s announcement to the Australian Securities Exchange.

“They exceed Torian’s expectations by a significant margin.

“Further drilling will define the mineralisation over a larger area.

“The location of steeper veins is also good news and may lead to a reappraisal of the mineralisation.

“Geological interpretation is showing the granite intrusion to be more complex than previously understood.

“This added complexity is encouraging and suggests potential for additional mineralisation styles to be present away from the main vein structure.”