Taranis Summarizes 2023 Field Exploration Program at Thor
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Summarizes 2023 Field Exploration Program at Thor
Estes Park, Colorado, November 14th, 2023 – Taranis Resources Inc. (“Taranis” or the “Company”)
[TSX.V: TRO, OTCQB: TNREF] is summarizing the events of the 2023 summer exploration season on its
100%-owned Thor project in Southeast British Columbia. In addition to the discovery of a boulder field
containing high-grade silver and gold values far to the west of the known deposit (see News Release dated
November 6, 2023) Taranis added diamond drill holes in the Thunder Zone.
Diamond Drilling
A total of 888m of diamond drilling was completed around the newly discovered epithermal Thunder Zone.
This is a difficult area to explore because of steep topography and the presence of a thick paleo-rockslide
obscuring all bedrock. One drill hole was lost in the rockslide due to caving. The results of the drilling will
be disclosed as analytical data become s available and is incorporated into the evolving geological model
for the Thunder Zone . Investigation was focused on gaining further insight into the geometry of
precious/base metal breccia -type mineralization and ascertaining its relationship to a n underlying
conductive feature (North Tusk).
An apparent conductivity (“AC”) airborne EM feature evident on the E xpert Geophysics magnetotelluric
(“EGMT”) survey was also tested via drilling. A considerable amount of stratabound pyrite (2-10%) occurs
within a thick succession of folded, black pelitic sedimentary rocks. Petrophysical testing of the drill core
confirmed its conductive nature and identified it as the source of the AC anomaly. This rock/alteration unit
requires close scrutiny because of its prominence in the EGMT airborne survey, forming several large AC
anomalies in close proximity to the epithermal deposit.
NI 43-101 Mineral Resource Update
P&E Mining Consultants conducted an onsite review of the project in August of 2023, and completed
resampling of old drill holes to verify prior analytical work. Select intercepts were retrieved from drill core
storage sites and were re -sampled during the course of the NI 43 -101 audit . Drill hole databases were
reviewed and cleaned-up, and the final Mineral Resource model will be updated once all the 2023 analytical
data is received and integrated int o the databases . As a result of exploration work undertaken in 2023,
Taranis will also be updating the geological map of the property to include some of the recent geological
insights.
Infrastructure and Permitting
Two bridges that provide access to the northern part of the Thor deposit were upgraded to meet engineering
design specifications. Taranis also completed further reclamation of prior surface disturbance (drill access
roads), including recontouring of slopes. McElhanney (Engineering Consultants) were engaged to provide
oversight of reclamation activities at Thor and conducted an introductory field review. Their work will
include the documentation of prior reclamation work such that financial bonds for areas that have been
reclaimed can be recovered.
XRD Studies and Petrophysical Measurements
ALS Metallurgy completed XRD (“X-Ray Diffraction”) studies on drill core to gain greater insight into the
mineralogical composition of host rocks. The results will be used to validate /compare results of a 2022
VIS/NIR spectrometry survey that mapped mineralogical alteration at Thor. XRD indicates the occurrence
of the previously unidentified mineral paragonite at Thor which is a common alteration mineral in mineral
deposits. Two drill holes showed widespread occurrence of albite, and these holes spatially are connected
to resistivity anomalies identified in the EGMT survey. One of these holes (Thor-210) may have intersected
a high-quartz granite, and the other (Thor-228) appears to have intersected an albite-rich granular hornfels
peripheral to a larger resistivity feature that is likely intrusive.
Petrophysical measurements of conductivity and magnetic susceptibility were completed on a variety of old
drill holes and surface outcrops. This data will be compared with the airborne MT survey and will result in
improved interpretation of the geophysical data.
Geophysical Surveys
Three areas were surveyed with VLF grids on the property to gain further insight into important EG MT
anomalies. One of these include d the Horton Zone , where high-grade gold and silver mineralization was
found in float at surface. The results and interpretation of these surveys is ongoing , but the high -grade
mineralization appears to coincide with the airborne anomalies in a way which will enable easy exploration.
Comment
John Gardiner, President and CEO of Taranis comments , “The discovery of the high-grade mineralization
at the Horton Target shows that systematic and methodological exploration can yield incredible results even
in an area that has seen previous exploration. Diamond drilling continued on the permitted portion of the
Thor property, and these drill holes continued to intersect mineralization and expand the deposit to the
north. This area is of extreme interest to Taranis because it appears to show a transition from the sheet-like
epithermal deposit into a breccia pipe -type setting. The EGMT survey shows a large conductive feature
called the North Tusk underlying this mineralization that could be the source of t he widespread precious
and base metal mineralization found in in the Thunder Zone”.
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. Mr. Gardiner is responsible for, and approves of the
technical content in this News Release. John Gardiner is a principal of John J. Gardiner & Associates, LLC
which operates in British Columbia under Firm Permit Number 1002256.
For additional infor mation on Taranis or its 100% -owned Thor project in British Columbia, visit
www.taranisresources.com
Taranis currently has 94,587,027 shares issued a nd 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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This News Release may contain forward looking 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.