Taranis Details Z-900/1300 and Underlying I-1 Intrusive Target Including 53m of Anomalous Gold

Rhea-AI Summary

Taranis Resources (TSX.V:TRO, OTCQB:TNREF) has reported results from two drill holes (Thor-246 and Thor-247) located 0.6 km southeast of the Broadview Mine at their Thor project. Thor-246 intercepted a 53.0m wide zone of geochemical gold (up to 0.452 g/t Au) with elevated arsenic, tin, tungsten, and zinc levels. The drilling targeted the Z-900/1300 anomaly, revealing evidence of a large-scale intrusive-related hydrothermal system.

Key findings include the presence of andradite-grossular garnet and ludwigite minerals, indicating contact metamorphic zones around an intrusive body. Thor-247, drilled up-dip from Thor-246, encountered anomalous gold in two intervals with elevated zinc mineralization. Both holes showed increasing gold and arsenic content with depth, suggesting proximity to a mineralized alkalic intrusive body.

Positive

• Discovery of new mineralized zone with 53m of anomalous gold
• Evidence of large-scale intrusive-related hydrothermal system
• Increasing gold and arsenic values with depth suggest proximity to mineralization source

Negative

• Gold grades are not ore-grade (sub 0.5 g/t Au)
• Lack of silver, copper and lead compared to existing epithermal deposit

We are making tracks locating the source of the epithermal deposit at Thor!

ESTES PARK, CO / ACCESS Newswire / February 25, 2025 / Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) is providing the second in a series of News Releases that detail exploration for a deep, underlying mineralized intrusive body at Thor. This News Release documents two drill holes (Thor-246 and Thor-247) that were drilled from a single setup 0.6 km southeast of the Broadview Mine. Both drill holes returned anomalous gold (up to 0.452 g/t Au) over substantial widths. These intercepts were drilled west of the Z-900/1300 anomaly (see attached plan map) and provides compelling information that the main body of the feature is mineralized. Taranis has provided a cross-section of these drill holes that shows the location of the section relative to the important geophysical anomalies, and it appears on the website www.taranisresources.com

Gold and Zinc Zones in Thor-246 and Thor-247

Taranis undertook systematic geochemical analysis of the holes including major oxide alteration geochemistry, rare-earth element analysis, gold and ICP-MS geochemistry. As the holes were targeting airborne geophysical features, inversion models derived from the surveys were compared with physical data collected in the drill holes. As these were the first holes to go into this critical area of Thor, the analyses of drill cores was designed to identify geochemical-levels of mineralization that can provide valuable targeting information. Scanning Electron Microscopy ("SEM") analysis was used to identify minerals that included albite, garnet, amphiboles, ankerite, chlorite, biotite and ludwigite. Ludwigite is a boron-rich mineral typically found in magnesian skarns.

Thor-246 (-70⁰)

Thor-246 intersected a 53.0m wide zone (355.0-408.0m) of geochemical gold, accompanied by elevated levels of arsenic, tin, tungsten and zinc within a rock type that is distinct from the magnetite-bearing I-2 intrusive dyke. This type of alteration and gold-enrichment is diagnostic of the margins of a large-scale intrusive-related hydrothermal system. A green mineral that was originally described as ‘epidote' at Thor has been determined by SEM to be andradite-grossular garnet, and its presence is also diagnostic of contact metamorphic zones around an intrusive. The geochemical data from Thor-246 is summarized in the following table and is also shown graphically on the cross-section on the website.

Thor-246 (355.0-408.0m) - 53.0m Interval
	Au (ppb)	As (ppm)	Sn (ppm)	W (ppm)	Zn (ppm)
Average	24	140	0.9	0.5	69
No. Samples	54	54	54	54	54
Minimum	5	1	<0.1	<0.1	21
Maximum	452	838	7.7	1.7	149
Standard Deviation	64	198	1.2	0.5	30

The association of arsenic and gold is a correlation well-documented in the overlying epithermal deposit at Thor, and provides some level of causal connection with Thor-246. Tin and tungsten are also weakly anomalous and are considered pathfinder elements for gold deposits associated with intrusives. One of the peculiar aspects is the lack of silver, copper and lead that are major components of the overlying epithermal deposit, and this may be related to geochemical zonation.

Thor-247 (-65⁰)

Thor-247 was drilled up-dip from Thor-246 to establish the geometry of the geological formations encountered in Thor-246. This hole intersected anomalous gold in two intervals within identical albite and carbonate-bearing rocks found in Thor-246. The upper intercept included elevated levels of zinc mineralization from 301.0 to 306.8m. Although the gold content and thickness are less than those found in the underlying Thor-246 drill hole, both holes viewed collectively show increasing gold and arsenic tenors with depth.

Thor-247 (278.3 - 314.0m) - 35.7m Interval
	Au (ppb)	As (ppm)	Sn (ppm)	W (ppm)	Zn (ppm)
Average	9	46	1.2	1.7	527
No. Samples	35	35	35	35	35
Minimum	5	1	<0.1	<0.1	64
Maximum	26	214	4.0	5.5	6,670
Standard Deviation	4	43	1.3	1.9	1,255

The lower intercept was in albite-carbonate breccia that had a creamy beige color. The SEM identified albite, ankerite, clays (kaolinite?), quartz, chlorite, amphibole, garnet and ludwigite in this interval.

Thor-247 (351.0-379.9) - 28.9m Interval
	Au (ppb)	As (ppm)	Sn (ppm)	W (ppm)	Zn (ppm)
Average	16	35	1.4	3.4	104
No. Samples	13	13	13	13	13
Minimum	5	11	0.2	<0.1	53
Maximum	61	61	4.3	22.2	244
Standard Deviation	18	17	1.4	6.3	53

Comment

John Gardiner, President and CEO of Taranis comments "drill holes Thor-246 and Thor-247 have intersected a completely different part of the hydrothermal system that is not exposed at surface at Thor, yet has obvious geological connections to the overlying epithermal deposit. While the gold content is obviously not ‘ore-grade', the persistent and wide geochemical levels of gold seen in both drill holes in association with arsenic, tin, tungsten and zinc strongly suggests that these holes are proximal to a mineralized alkalic intrusive body. The presence of andradite-grossular garnet and ludwigite are also hallmarks of a contact alteration aureo0le related to an intrusive body. Both the 246 and 247 gold-arsenic intercepts are located west of the Z-900/1300 feature, but provide valuable insight into this important resistivity anomaly. Taranis is currently making plans to evaluate both this target and the underlying I-1 intrusive target that appear to be the source of the substantial overlying epithermal deposit at Thor".

About Taranis and Thor

Taranis Resources 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 2 km long epithermal deposit.

Quality Control and Laboratory Methods

All samples for the Thor project were securely delivered to Actlabs in Kamloops, British Columbia.

Analytical work was completed both at the Kamloops and Ancaster, Ontario locations. Actlabs is ISO 17025 accredited. Taranis completed two types of geochemical analysis on the drill core.

The first of these was for major oxide geochemistry and quantitative graphite and carbonate determinations.

This sampling was completed systematically on drill holes to determine alteration of rock units. Major oxides and trace elements were determined by lithium metaborate/tetraborate fusion and analysis by Inductively Coupled Plasma ("ICP"), Optical Emission Spectrometry ("OES") and Mass Spectrometry ("MS"). Graphite and Carbonate determinations were made using Infrared ("IR") Spectrometry.

Secondly, visibly (or potentially mineralized sections of core) were systematically sampled after sawing the core in half onsite. Samples were analyzed for 42 elements by 4-Acid Digestion / Inductively Coupled Plasma - Mass Spectrometry ("ICP-MS") and for gold by 30g Fire Assay / Atomic Absorption Spectrophotometry ("AAS"). Where overlimit values were encountered in the analysis of these samples, ore-grade' determinations were made using subsequent ICP analysis and gravimetric methods. As a Quality Control ("QC") measure, Taranis also submitted analytical standards into the sample stream every tenth sample in addition to the laboratory's own quality control methods.

SEM was completed at the Colorado School of Mines in the Automated Mineralogy Laboratory. The TESCAN Integrated Mineral Analyzer ("TIMA") is a fully automated SEM-based analysis system that provides quantitative mineralogical and textural data on the basis of automated point counting. The instrument contains a custom-built electron-beam platform equipped with four energy dispersive X-ray spectrometers for mineral and compound identification within a wide range of sample types.

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 the principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News Release.

Taranis currently has 100,348,854 shares issued and outstanding (113,827,227 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
johnjgardiner@earthlink.net

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

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 differ materially from expected results.

SOURCE: Taranis Resources, Inc.

View the original press release on ACCESS Newswire

FAQ

What gold grades did Taranis Resources (TNREF) encounter in the Thor-246 drill hole?

Thor-246 intercepted a 53.0m wide zone of geochemical gold with values up to 0.452 g/t Au, along with elevated arsenic, tin, tungsten, and zinc levels.

Where are the new Thor-246 and Thor-247 drill holes located relative to the Broadview Mine?

The drill holes are located 0.6 kilometers southeast of the Broadview Mine at the Thor project.

What significant minerals did Taranis (TNREF) discover in the Thor drill cores?

SEM analysis identified albite, garnet, amphiboles, ankerite, chlorite, biotite, and ludwigite minerals, with andradite-grossular garnet indicating contact metamorphic zones.

What is the geological significance of the Thor-246 and Thor-247 drill results?

The results suggest proximity to a mineralized alkalic intrusive body, with increasing gold and arsenic content at depth indicating a connection to the overlying epithermal deposit.