Taranis Resources Inc. Increases Land Position at Thor 370% & Selects Atlas Drilling Limited to Conduct 10,000 m of Core Drilling
Fri May 9, 1:57 PM
ca.news.finance.yahoo.com
LAKEWOOD, CO, May 9 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V: TRO) is pleased to announce further advancement of its exploration activities relating to the Thor volcanogenic massive sulphide deposit located southeast of Revelstoke, British Columbia.
Additional Land Acquisition
Taranis has been able to acquire through staking and owns 100% a number of Mineral Tenures (1,023 hectares) around the Thor property that are prospective for mineral deposits, as well as for potential exploitation activities. Taranis also currently holds a 100% interest in 27 Crown Grant Mineral Claims (273 hectares) which host the deposit in its entirety, and constitutes the main exploration target.
Atlas Diamond Drilling Limited
Taranis has engaged Atlas Diamond Drilling Limited to conduct a 10,000 m NQ-size diamond drilling program at the Thor Property. The core drilling is expected to commence in early June 2008, and will utilize two diamond drills. Initially one of these drills will be placed on the Great Northern Zone to conduct definition drilling of the deposit where the 2007 diamond drilling was able to identify mineralization on sections spaced 150 m apart (Sections 330m S and Section 180m S), and remains open at depth and along strike. The second drill will conduct exploratory drilling around the Blue Bell Mine where geophysical surveying last year identified a large conductive body down-plunge of the known mineralization.
Snow conditions on the property necessitate drilling of the remaining zones ("50-0-50" Anomaly, Broadview and Switchback Zones) beginning in the late June. The company has posted a longitudinal on its website www.taranisresources.com that summarizes the 2006/2007 sampling and drilling, and demonstrates the large- scale potential of the Thor property.
President and CEO John Gardiner states "We are genuinely excited about the prospects of expanding the known precious and base metal mineralization at Thor. The project has sat dormant for many years since it was initially found in the late 1800's, and has never been systematically explored. It is our premise that systematic diamond drilling will add considerable value to the project by enhancing its size, and understanding the geology of the deposit." About Taranis Resources Inc. Taranis currently has 16,477,440 shares issued and outstanding (19,147,219 shares on a fully-diluted basis).
TARANIS RESOURCES INC. Per:
John J. Gardiner (P. Geol.),
President and CEO
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Contacts
For Investor Relations
contact: John Gardiner
14247 West Iliff Avenue
Lakewood
Colorado
Phone: (303) 716-5922 or (720) 209-3049
johnjgardiner@taranis.us
George Kent
130 Carlton Street
Toronto
Ontario
Phone: (416) 323-0783
georgerkent@sympatico.ca |
