Taranis Intersects 314.6 g/t AgEq over 7.19 m in Thunder Zone
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Intersects 314.6 g/t AgEq over 7.19 m in Thunder Zone
Estes Park, Colorado, February 5, 2024 – Taranis Resources Inc. (“Taranis” or the “Company”) [TSX.V:
TRO, OTCQB: TNREF] is pleased to report on drill hole Thor-238 that was drilled in the Thunder Zone.
Drilling has proven to be challenging in the Thunder Zone, due to the presence of a rockslide that conceals
the exploration target. Thor-241 (53.64 m) was lost at the bottom of the landslide and abandoned. This area
of the Thunder Zone is characterized by a very large apparent conductivity ano maly which is now
documented to be 4 -6% barren pyrite over thicknesses in excess of 100 m (Thor-240). Trace element
geochemistry completed on the ‘barren’ pyrite shell has shown increasing geochemical-level gold and
copper content downhole . It is unknown wh at the connection is with the pyrite shell and the high -grade
epithermal mineralization found in the Thunder Zone.
Thor-238 (-500)
Drilling in the Thunder Zone continued to intersect mineralization under a rockslide on the south side of
Thor’s Ridge. Thor-235 was completed between previously reported drill holes Thor -231 (221 g/t AgEq
over 17.9 m - including 1,355 g/t AgEq over 2.63 m), Thor-220 (551.2 g/t AgEq over 3.96 m) and Thor-
235n (279.6 g/t AgEq over 2.86 m). The following table shows Thor -238 primarily intersected silver and
base metal mineralization.
From
(m)
To
(m)
Interval
(m)
Au (g/t) Ag (g/t) Cu(%) Pb(%) S(%) Zn(%) Sb(%) AgEq (g/t)
77.24 77.63 0.39 0.28 1,090 0.266 10.60 13.90 7.89 0.222 703.1
77.63 78.33 0.70 0.21 24.10 0.008 0.102 9.02 0.17 0.005 36.4
78.33 78.67 0.34 0.13 31.70 0.015 0.142 5.66 0.06 0.007 17.2
78.67 80.19 1.52 0.01 4.00 0.001 0.008 0.19 0.002 0.001 7.5
80.19 81.2 1.01 0.01 0.80 0.001 0.003 0.51 0.003 0.000 1.6
81.2 81.59 0.39 0.32 1295 0.461 10.65 18.95 27.7 0.281 1,123.5
81.59 82.24 0.65 0.16 22.9 0.021 0.035 6.26 6.30 0.005 199.4
82.24 83.09 0.85 0.32 6.50 0.004 0.033 6.43 0.42 0.001 43.6
83.09 83.67 0.58 0.28 12.2 0.016 0.059 5.53 0.04 0.003 23.0
83.67 84.43 0.76 0.60 20.6 0.028 0.185 6.20 1.47 0.004 106.4
77.24 – 84.43 m 7.19 0.20 140.17 0.05 1.20 5.47 2.73 0.03 314.6
• Indium is not included in the results, and results are pending.
2
Comment
John Gardiner, President and CEO of Taranis states “ The Thunder Zone is really starting to grab our
attention owing to the presence of a magneto -telluric anomaly that occurs about 600 m below the surface,
and the presence of large barren pyrite shell that forms the prominent apparent conductivity anomaly at
Thor’s Ridge. This feature is a top priority exp loration target, and the top of it is about 600 m below the
surface. This concealed conductive body is referred to as the North Tusk and is part of a larger doughnut-
shaped conductivity feature that form s a halo around a prospective intrusive target. Our geophysical and
geochemical work on drill core completed in 2023 is leading us to believe th at the North Tusk is a
conductive siderite body that has magmatic origin and forms an a nnulus around the intrusive body
(resistivity high). The abundance of siderite/ankerite in the Thor epithermal deposit suggest the epithermal
deposit and its associated plumbing system tapped into this carbonate, along with quartz and other metals
that characterize the epithermal deposit.”
Quality Control
Core samples from the Thor Project are cut in half , and one -half of the sample is shipped to ALS
Geochemistry (“ALS”) Kamloops for preparation. Analyses are completed by ALS in Vancouver, which
is accredited to ISO/IEC 17025:2017 general requirements fo r the competence of testing and calibration
laboratories. Taranis also uses its own set of certified reference standards in the analytical stream every 10th
sample as an additional quality control. Gold is determined using a one -tonne fire assay method, wi th an
atomic absorption finish. Silver content is determined using Inductively Coupled Plasma Spectroscopy
(“ICP”), and in cases where silver content exceeds 100 ppm, samples are reanalyzed where over limits are
required. The content of other metals is also determined using ICP, and in cases where the metal content
exceeds analytical limits, the sample is analyzed using ICP with a different set of calibration standards.
Silver Equivalent Calculation
Owing to the complex, polymetallic nature of the Thor epithermal deposit and the presence of at least five
different metals that can potentially be recovered in the Mineral Resource , Taranis uses a method of
reporting results called Silver Equivalent (“AgEq”) to help readers understand exploration drilling results.
These prices are based on January 2023 metal prices to facilitate comparison with prior drilling results.
AgEq calculations use the following metal values : Gold US $61.03/gram, Silver US$ 0.76/gram, Copper
US$9.19/kg, Zinc US$3.21/kg, Lead US$3.21/kg & Antimony US$5.60/kg. AgEq = [Ag (g/t) + (Au g/t *
80.63) + (Cu%*121.42) + (Zn%*42.41) + (Pb%*28.93) + (Sb%*73.99)]
About Taranis Resources Inc.
Taranis Resources Inc. is a well-positioned exploration company that is exploring and developing its 100%-
owned Thor precious-base metal project in British Columbia. Taranis has drilled over 250 drill holes on the
project, defining a near -surface epithermal deposit that is over 2 km long. The Company refers to the
epithermal trend as the “Trunk ,” invoking the anatomy of an elephant to portray the connection of the
epithermal deposit to the underlying Jumbo and Horton intrusive targets.
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Qualified Person
Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under
the meaning of Canadian National Instrument 43 -101. John Gardiner is a principal of John J. Gardiner &
Associates, LLC which operates in British Columbia under Firm Permit Number 1002256.
For additional information on Taranis or its 100% -owned Thor proj ect in British Columbia, visit
www.taranisresources.com
Taranis currently has 94,587,027 shares is sued and outstanding (109,262,027 shares on a fully -diluted
basis).
TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geo.),
President and CEO
For further information contact:
John J. Gardiner
681 Conifer Lane
Estes Park, Colorado
80517
Phone: (720) 209-3049
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ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This News Release may contain forward loo king statements based on assumptions and judgments of management regarding
future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may di ffer
materially from expected results.