Taranis Extends Gold Pit at Depth, Samples 2.04 m of Bonanza-Grade Material 26.6 g/t Gold, 1,246 g/t Silver, 3.1% Lead, 4.3% Zinc & 0.55% Copper
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
14247 West Iliff Avenue
Lakewood, Colorado
80228-5421
www.taranisresources.com
Taranis Extends Gold Pit at Depth, Samples 2.04 m of
Bonanza-Grade Material 26.6 g/t Gold, 1,246 g/t Silver, 3.1%
Lead, 4.3% Zinc & 0.55% Copper
Lakewood, Colorado, November 14, 2017 – Taranis Resources Inc. (“Taranis”) [TSX.V: TRO]
is pleased to update exploration activity related to its 100%-owned Thor mine (MX-5-602).
Taranis has received assay results from a zone located 700m so utheast of the high -grade SIF
gold zone where mining activity was initiated at Thor this summer. Gold Pit channel sampling
was undertaken after Taranis further excavated the zone at depth in A ugust of 2017 , and
extended the highest -grade mineral occurrence known on the Thor project. Mechanical
excavation made another important model-building discovery at Thor in 2017, and this will be
released in a subsequent news release.
2017 Gold Pit Excavation
Contrary to what was previously thought about the Gold Pi t Area, the continued excavation of
the zone at depth showed that the plunge of the mineralization is steeply to the southeast. It was
formerly thought that the mineralization plunged shallowly to the northwest.
A channel sample across the zone at the bottom of the 2017 trench returned the following results,
and a photograph of the outcrop showing the channels sample locations has been posted on
www.taranisresources.com
From
(m)
To
(m)
True
Thickness
(m)
Gold
(g/t)
Silver
(g/t)
Lead
(%)
Zinc
(%)
Copper
(%)
1.53 3.57 2.04 26.6 1,245.7 3.08 4.32 0.55
Includes 0.64 m of 72.81 g/t Au, 1,716 g/t Ag, 3.6 % Pb, 6.0 % Zn, 0.78% Cu & 0.42%
Sb
Sampling undertaken in 2015 at the top of the currently exposed outcrop (January 14, 2015 )
reported similar, but lower -grade results . These results are duplicated here for the sak e of
comparison, but were all located above the 2017 sampling.
Line From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Silver
(g/t)
Lead
(%)
Zinc
(%)
1 0.00 1.64 1.64 14.3 254.9 0.99 0.52
2 0.00 2.04 2.04 52.4 1,541.8 1.39 0.08
3 1.16 2.06 0.90 3.9 4.0 0.01 trace
0 0.40 1.35 0.95 4.7 722.9 4.15 4.07
2
Geological mapping of the outcrop appears to show that the zone is widening at depth, and the
high-grade gold and silver is moving onto a structural contact under a quartz -rich zone into the
Sharon Creek Formation.
Comparison and Implications for Gold Pit Zone and SIF / SIF-Extension Zones
The Gold Pit Zone occurs about 700 m southeast of the newly discovered SIF -Extension zone
that was bulk sampled in 2017, and recently yielded high-grade gold including 28.79 g/t gold
over 3.72 meters true thickness. SIF Extension is primarily a coarse -gold in quartz deposit, while
high-grade gold, sil ver and base metals are hosted in the conventional sulphide occurrence at
Gold Pit.
The mineralogy of the two zones differs considerably, but a coherent picture is starting to form
that may indicate that the zones are connected. Both zones occur west of the known Thor deposit
in a complex area of faulting within the Thor Anticline, and both have a unique d ip to the
southwest. All other known areas of mineralization at Thor dip moderately to the northeast and
return lower-grade gold assays. Also, both areas of high-grade gold mineralization lie directly on
the contact between the underlying Sharon Creek formation and the overlying Broadview
Formation. This suggests that the high -grade gold is likely stratifo rm in nature, and has been
subjected to remobilization along the contact by folding and faulting. What is known is that this
receptive contact connects the two areas separated by 700m , and it is possible that the gold
mineralization is contiguous. Further exploration is necessary to prove this concept.
John Gardiner, President and CEO remarks “ Grades and a very unique metal content like tho se
seen at Gold Pit are approaching what defined the unique Eskay Creek Mine in British Columbia
that was mined by Barrick Gold from 1993-2008. Eskay Creek also had a very small footprint
(1.5 M tonnes), and careful exploration is required to define these types of zones . Eskay Creek
produced over 3 M Oz. of gold ( grading 48.4g/t Au) and 160 M Oz. of silver ( grading 2,221g/t
Ag), making it one of the highest -grade mines in Canada. One of the common threads between
Thor and Eskay Creek apart from the metal grades is the volcanogenic massive sulphide model
that has been advocated for both deposits . While the extent o f Gold Pit’s exploration is in its
infancy, we think the potential to extend this bonanza-grade area over distance is very real”.
Quality Control and Analytical Procedures
Samples were analyzed by MS-Analytical in Vancouver, Canada. Fire Assay was completed on a
30g sample for gold content and the remaining analytical data was completed using ICP
analytical methods. Silver content over 100 g/t was determined using gravimetric methods.
All sampling and gold determinations are subject to a rigorous q uality control program that
includes the placement of standards and blanks a minimum of every tenth sample in addition to a
rigorous internal control instituted by MS-Analytical.
Qualified Person - Exploration activities at Thor were overseen by John Gard iner (P. Geol.)
who is a Qualified Person under the meaning of Canadian National Instrument 43-101.
About Taranis Resources Inc.
Taranis is an exploration and mining company focused on the development of its 100% -owned
Thor project in southeast British Columbia. In 2017, Taranis undertook a f ully permitted mining
operation on the property aimed at recovering gold and gaining a better understanding of the
newly discovered gold zones at Thor. Taranis is pursuing two parallel and distinct strategies at
3
Thor: one focused on continuing to mine the deposit in a series of three steps, and the other is the
continued growth and expansion of the existing deposit. P lease visit our website at
www.taranisresources.com for more information.
Taranis currently has 55,951,716 shares issued and outstanding ( 63,376,716 shares on a fully -
diluted basis).
TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geol.),
President and CEO
For further information contact:
John J. Gardiner
14247 West Iliff Avenue
Lakewood, Colorado
Phone: (303) 716-5922
Cell: (720) 209-3049
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