Taranis Starts Deep Drilling Program at Thor
Taranis Resources, trading under the symbol TNREF, has initiated a deep drilling program at its Thor property, targeting anomalies identified in a previous airborne survey. The drilling focuses on the Broadview Mine area of the Thor epithermal deposit.
Additionally, Taranis has successfully exercised a third tranche of share purchase warrants, raising $100,000, adding to a total of $600,000 from 3,000,000 warrants exercised at $0.20 per share. The funds are earmarked for ongoing exploration activities.
Furthermore, the company closed two private placements: 1,353,888 non-flow-through units at $0.27 per unit for $365,500, and 20,000 flow-through units at $0.30 per unit for $6,000. These placements include warrants exercisable at $0.35 until July 2026. An additional $200,000 in FT Units is pending shareholder approval.
- Initiation of deep drilling program at Thor targeting geophysical anomalies.
- Raised $600,000 via the exercise of 3,000,000 share purchase warrants.
- Closed a private placement raising $371,500 with warrants exercisable at $0.35 until 2026.
- Pending shareholder approval for $200,000 in additional FT Units, introducing uncertainty.
Announces the Exercise of Additional Share Purchase Warrants and the Closing of a Private Placement
ESTES PARK, CO / ACCESSWIRE / July 8, 2024 / Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) is providing an update on its 2024 exploration program at Thor.
Taranis has initiated its deep drilling program at Thor that is targeting magnetotelluric and magnetic targets identified in an airborne survey completed in 2022. The initial focus area is a series of deep anomalies below the Broadview Mine area of the Thor epithermal deposit.
Exercise of Additional Warrants
Pursuant to Taranis announcing the exercise of warrants in its May 2, 2024 and May 9, 2024 News Releases, Taranis is pleased to announce the exercise of a third tranche of warrants in the amount of
Closing of Private Placements
Taranis also announces the closing of the following private placements, each as announced on May 2, 2024:
(a) |
| 1,353,888 non-flow-through units (the "NFT Units") at a price of |
|
|
|
(b) |
| 20,000 flow-through units (the "FT Units") at a price of |
(Taranis also received subscriptions for
Each NFT Unit consisted of one common share and one share purchase warrant (a "NFT Warrant"), with each NFT Warrant entitling the holder to purchase one additional common share at a price of
All of the securities issued pursuant to these private placements, including any shares that may be issued pursuant to the exercise of either the NFT Warrants or the FT Warrants, are subject to a hold period in Canada until November 4, 2024.
About Taranis and Thor
Taranis Resources is a Canadian mineral exploration company. The Thor Project is located in southeast British Columbia and is comprised of 3,807 hectares of Mineral Tenures and 27 Crown Grant titles to precious and base minerals, many of which include surface rights. 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).
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. Mr. Gardiner has reviewed and approved the comments contained within this News Release.
For additional information on Taranis or its
Taranis currently has 98,960,915 shares issued and outstanding (112,009,803 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
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for the sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
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 accesswire.com
FAQ
What is the focus of Taranis' deep drilling program at Thor?
How much money has Taranis raised from the exercise of share purchase warrants?
When will the warrants from Taranis' recent private placements be exercisable until?
How much was raised from Taranis' non-flow-through and flow-through private placements?
What is the significance of the additional $200,000 in FT Units for Taranis?
