Taranis Hits Three Zones at Thor in Hole Thor-210, Including 2.9m of 0.5 g/t Gold, 253 g/t Silver, and 7.1% Combined Pb+Zn+Cu
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Hits Three Zones at Thor in Hole Thor-210, Including 2.9m of 0.5 g/t Gold,
253 g/t Silver, and 7.1% Combined Pb+Zn+Cu
Estes Park , Colorado, November 1 2, 2020 – Taranis Resources Inc. ( “Taranis” or the “Company” )
[TSX.V: TRO] is pleased to report on the first drill hole from its summer exploration a t its 100%-owned
Thor polymetallic project in British Columbia. Taranis completed eight drill holes at Thor this summer, as
well as ro ad-cut sampling and geophysical surveys over the Ridge Target. Results of this work will be
released as they become available.
Drill Hole Thor-210
The initial drill hole (Thor -210) was drilled on a newly permitted drill road several hundred metres south
of the True Fissure open pit on a steep hillside. This area has seen no prior drilling and was known to be
structurally complex. Three separate mineralized zones were encountered in drilling.
Upper Gold Zone
This zone is massive sulphide (>50% pyrite) and also contains minor amount of tin, a feature that has been
noted in the historical data on Thor and has not been systematically analyzed . The initial gold analyses
returned 5.4 g/t Au, and the lower value is shown in the table . This zone is accompanied by extensive
hydrothermal alteration that is lime green in color. The high specific gravity of this gold-bearing zone means
that gravity pre-concentration onsite would be able to easily separate this unit from the less dense wall rock.
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
B0012352 58.92 59.68 0.76 3.96 23.9 0.01 0.74 0.02
Middle Lower Grade Zone
This zone occurred with an interval of quartz-sulphide breccia with local m assive sulphide patches. The
highest gold grades are associated with intervals of massive sulphide (coarse -grained pyrite). The highest
silver content is associated with the lead and zinc-bearing interval.
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
B0012356 62.91 63.40 0.49 0.80 23.9 0.02 0.70 0.51
B0012357 63.40 64.01 0.61 0.40 215.0 0.14 3.11 3.50
B0012358 64.01 64.62 0.61 2.23 58.6 0.02 0.15 0.64
B0012359 64.62 65.14 0.52 0.04 7.5 0.03 0.08 1.46
Average
2.23 0.91 82.0 0.06 1.07 1.59
Lower High-Grade Zone
The lowest unit encountered in the drill hole Thor-210 was massive sulphide containing 5% siderite. It was
bounded on the footwall by approximately 3 metres of lime-green hydrothermally-altered rocks with 10%
quartz veins. Below this the drill hole entered a grey-coloured porphyritic intrusive rock that was intensely
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sericitized and contained traces of sphalerite. This intercept contained samples up to 14.5 ppm indium and
0.45% antimony and are discussed further below.
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
B0012363 68.86 69.65 0.79 0.01 4.0 0.01 0.04 0.09
B0012364 69.65 70.11 0.46 1.50 1292.0 0.62 6.90 14.92
B0012365 70.11 70.57 0.46 1.37 283.0 0.20 3.23 18.13
B0012366 70.57 71.76 1.19 0.11 6.5 0.00 0.07 0.13
Average
2.90 0.50 252.5 0.14 1.64 5.30
Comments
John Gardiner, president and CEO states “ Drill hole Thor-210 proves the existence of multiple parallel
zones in the Thor deposit , previously not known in this area . This type of zone geometry is common in
high-grade epithermal deposits, and can increase the size of a deposit substantially. As future drill results
are obtained from this summer’s drilling, we will be able to properly model this area for an upcoming NI
43-101 Resource Estimate.
The close correlation of sulphide content found with the high -grade mineralization at Thor means that the
Gekko plant that is being permitted for the 10,000 t onne bulk sample can be used to separate the waste
easily on site including the higher-grade gold zones seen in the Upper Gold Zone of Thor -210. It also
highlights the importance of completing the 10,000 t onne bulk sample at Thor to fully understand the
physical and chemical characteristics of the deposit. There are valuable by-product metals in th e Thor
deposit that remain unquantified, and these includ e antimony, indium and tin. Processing a 10,000 t onne
bulk sample at Thor will allow the Company to gain a full understanding of the metals that exist in this
high-grade deposit”.
Qualified Person and Quality Control
Exploration activities at Thor were overs een by John Gardiner (P. Geol.) who is a Qualified Person under
the meaning of Canadian National Instrument 43 -101. Drill core is logged and sawed onsite, and one-half
is retained for reference and further analytical work including specific gravity determi nations. The
remaining half core is delivered by Taranis via courier to Bureau Veritas Commodities Canada Ltd.
(“Bureau Veritas”) in Vancouver, British Columbia. Bureau Veritas is an ISO 9001 certified analytical
laboratory. Taranis inserts standards every 10th sample for quality control in addition to the stringent
internal checks completed at Bureau Veritas . Samples are dried, crushed, split and pulverized at the
Vancouver location, and analyzed for silver, copper, lead, zinc and related trace elements done by modified
aqua regia digestion with ICP finish. Gold is analyzed using a 30-gram fire assay with ICP finish.
About Taranis Resources Inc.
For additional information on Taranis or its 100% -owned Thor project in British Columbia, visit
www.taranisresources.com
Taranis currently has 73,594,500 shares issued and outstanding (87,123,266 shares on a fully-diluted basis).
TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geol.),
President and CEO
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For further information contact:
John J. Gardiner
681 Conifer Lane
Estes Park, Colorado
80517
Phone: (303) 716-5922
Cell: (720) 209-3049
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