Taranis Summarizes 2024 Exploration Surveys and Drilling at Thor
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Summarizes 2024 Exploration Surveys and Drilling at Thor
Estes Park, Colorado, October 30, 2024 – Taranis Resources Inc. (“Taranis” or the “Company”) [TSX.V:
TRO, OTCQB: TNREF] is providing an update on its Thor project located northeast of Trout Lake, British
Columbia. Taranis has completed all of the field activities related to the 2024 exploration program at Thor.
This exploration program had two main areas where exploration activities were focused, and these are
discussed below.
Deep Drilling
A total of ten drill holes were completed in the Deep Drilling program of 2024. One drill hole was lost due
to caving (Thor-241), and two others (Thor -244 & 245) were short confirmation holes that tested an
unexpected zone encountered in Thor -242. Of the seven drill holes that tested deep exploration targets
below the epithermal deposit , the average depth was 501 m. Drill hole results are pending, and will be
provided once the analytical results are received and analyzed. The following table summarizes the statistics
from the 2024 Deep Drilling program:
Drill Hole Meters Comments
Thor-241 105.5 Lost hole
Thor-242 576.0 South Tusk target
Thor-244 105.0 Thor-242 confirmation
Thor-245 141.0 Thor-242 confirmation
Thor-246 525.0 Spider Hole resistivity target
Thor-247 393.0 Spider Hole resistivity target
Thor-248 496.0 Spider Hole/magnetic target
Thor-250 546.0 West Spider Hole
Thor-251 393.0 Spider Hole resistivity target
Thor-252 579.0 North Crab Claw resistivity target
Total 3,859.5
One main drilling access road was completed in the area south and east of the Broadview Mine, and this
road was approximately 1,100 m in length. A considerable amount of analytical sampling was undertaken
on the drill cores, and this included standard drill core sampling to assess mineralization and specialized
sampling that included determinations of graphitic carbon, calcite, rare earth elements and major oxide
geochemistry.
Exploration Item No. of Samples
Deep Drilling Assaying ~680
Deep Drilling Alteration Analytical 185
Total Samples ~865
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Taranis has also initiated investigations regarding the mineralogy of drill cores from the deep drilling, and
the results of this will be forthcoming.
Horton Area
Exploration continued in an area west of the Great Northern Zone where many high-grade boulders were
discovered late in the 2023 field season . Systematic m ulti-channel Very Low Frequency (“VLF”) and
ground magnetic/gradiometer surveys were completed on a grid established in 2024 that covered this area.
Soil sampling with a mechanized auger was completed on the grid and Induced Coupled Plasma (“ICP”)
trace element sampling was completed on the soil samples.
The following table highlights the data that was collected from the exploration surveys that will be used to
assess the origin of the high-grade surface boulders found in the area.
Exploration Station Spacing Number of
Measurements/Samples
Ground VLF surveys 5m 1,230
Ground magnetic-
gradiometer surveys
5m 860
ICP and gold soil samples 10m 205
Boulder sampling N/A 33
Three short diamond drill holes were completed along the Horton Road which will provide additional
information about the geology in this poorly understood area. The following table summarizes the three
drill holes that were completed at Horton.
Drill Hole Meters
Thor-243 100.21
Thor-249 83.21
Thor-254 90.22
Total 273.64
Horton was severely impacted by the 2024 wildfire, and virtually all the trees and surface vegetation were
destroyed. The burn allowed for unprecedented exposure of new outcrops in the area, and the discovery of
many more high -grade boulders at surface (Boulder Sampling). The results of these surveys will be
available once all of the analytical data has been received, and the data has been interpreted.
Epithermal Drill Hole Confirmation
A single drill hole (Thor -253, 109.12 m) was completed in vicinity of the Great Northern Zone where
previous drilling had intersected three ‘stacked’ mineralized zones. This drill hole will aid in the
interpretation of the main epithermal deposit but is also expected to add information pertaining to the deep
drilling conducted in 2024.
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About Taranis and Thor
Taranis Resources Inc. is a Canadian mineral exploration company. The Thor Project is in southeast British
Columbia. Taranis has completed upwards of 250 drill holes , linking all previously known mines into a
single, near-surface epithermal deposit that has been recently updated into an NI 43-101 Mineral Resource
Estimate (see Taranis News Release dated April 11, 2024). In the summer of 2024, Taranis initiated deep
drilling aimed at finding the source of the 2km long epithermal deposit. This exploration uses modern
geological models and uses state-of-the-art exploration tools including airborne magnetotellurics, magnetics
and geochemistry. The Company’s approach is that many of the historic mines in the area are underlain by
comparatively large mineral deposits that do not outcrop at surface and have the potential to become much
larger deposits that can be mined using modern mining methods.
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 Nu mber 1002256. Mr. Gardiner
has reviewed and approved the comments contained within this News Release.
For additional information on Taranis or its 100% -owned Thor project in British Columbia, visit
www.taranisresources.com
Taranis currently ha s 99,627,581 shares issued and outstanding ( 113,093,135 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: (303) 716-5922 Cell:
(720) 209-3049
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This News Release may contain forward l ooking 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.