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Torian Resources Limited: Mt Monger Gold Exploration Strategy

06.05.2020  |  ABN Newswire
Perth, Australia - Torian Resources Limited (ASX:TNR) is pleased to provide an update on further desktop works uncovering a much larger area of interest at Mt Monger and Wombola Gold Projects that sit in the direct neighbourhood to Silver Lake Resources' (ASX:SLR) tenure which hosts its flagship Mt Monger Mine.


Highlights:

- Desktop works uncover large area of interest at the Mt Monger Gold Projects, with the potential for significant discoveries

- 3 phase systematic exploration approach to be undertaken

- The highly Prospective Mount Monger and Wombola projects is 50km south east of Kalgoorlie in the world class gold region of Western Australia with historical production of over 60Moz of gold.

- Mt Monger Gold Project sits nearby and adjacent to Silver Lake Resources (ASX: SLR) tenure which hosts their flagship Mt Monger mine

- Drilling Commencement at Mt Stirling project days away as announced on 28 April 2020

The area is highly prospective for discovery, local prospectors found gold near Mount Monger in 1896 with the main production period dating from 1916 when mines were developed close to the Mount Monger Homestead.

During April and early part of May 2020, Torian's newly appointed geological technical team have been in the process of analysing all available historical data and have discovered a large historically drilled area, potentially on-strike from historical Wombola and Wombola Dam Pits operated by Silver Lake Resources Ltd. (ASX:SLR).

Torian Chairman Mr Louie Simens said, "As has been previously announced we have had a new set of eyes digging into the dataset across all projects and early signs of desktop work have given a great indication of potential further discovery at the Mt Monger and Wombola projects. Torian is a company that keeps on giving with great projects, in the right address, next to some major operating mines that have not been systematically followed up on. These desktop works have advanced our efforts to a next stage of works by completion of data compilation from WAMEX with further data compilation ongoing and a mapping exercise to be undertaken soon after. We will now embark on a property wide systematic exploration approach on Mt Monger and Wombola which enfolds much of Silver Lake Resources (ASX:SLR) flagship Mt Monger Mine.

We are particularly excited with the potential opportunity at our Mt Monger and Wombola Gold project with Silver Lake Resources' (ASX:SLR) flagship project being in our immediate vicinity with early indications suggesting our projects are sitting along strike of some of Silver Lakes' key deposits.

With results pending on our Credo JV and drilling to commence at Mt Stirling early next week, which sits adjacent to Red 5 Ltd (ASX:RED) we are extremely excited with the projects we have and what is planned.

Mt Monger is now an additional high priority project for us for potential further discovery. These projects, combined with our Zuleika Project, located in the world-class Zuleika Shear, now present four opportunities for a major re-rating of the Company, in the immediate, medium and over the long term.

We look forward to keeping the market updated on our exciting exploration efforts across a multiple of our highly prospective gold projects."


Wombola Open Cut (ASX:SLR)

The Wombola orebody is hosted by - a series of sheeted quartz veins within a deeply oxidised dolerite host sequence. The Wombola Open Cut differs from Wombola Dam Open Cut in the extent of the weathered profile. Sulphides are typically less abundant in the veining and no fresh rock has been, or is likely to be encountered in the open cut. The orebody has been extensively grade control drilled during the reporting period and is open at depth.

Wombola Dam Open Cut (ASX:SLR)

The Wombola Dam orebody is comprised of a series of sheeted quartz veins within a doleritic host sequence. The mineralisation is primarily hosted in quartz veins that also contain a gangue of chalcopyrite and pyrite. The open cut has mined 12 - 15 main quartz lodes that vary in width from 0.5 metres to 1 metre in thickness. Quartz veining terminates on a gently south dipping black shale in the south end of the open cut. The orebody remains open to the north, east and west and at depth.

Regional Geology

The Mt Monger project lies within the Gindalbie Terrane of the Eastern Goldfields Granite-Greenstone Terrane, a subdivision of the Norseman-Wiluna Greenstone Belt which is part of the Archaean Yilgarn Craton (Figure 1*). The linear greenstone belts of the area comprise a lower mafic-ultramafic volcanic succession of metamorphosed basalts, komatiites, and mafic to ultramafic intrusive bodies, overlain by a felsic volcaniclastic and siliciclastic metasedimentary rock succession (Griffin, 1990). Both successions are unconformably overlain by Polymictic conglomerates and sandstones. Granitoid bodies have been intruded at various stages throughout the Archaean and east-west-trending Proterozoic mafic-ultramafic dykes cross-cut the region. Rocks in the area range from greenschist to lower amphibolite facies (Mikucki and Roberts, 2004).

Mineralisation is both stratigraphically and structurally controlled with the mines (both current and past of Silver Lake Resources (ASX:SLR)) being located below the contact of the area's two main stratigraphic units: a felsic unit and a mafic unit. The lower felsic unit consists of felsic to intermediate pyroclastic rocks and coarse volcanogenic sediments. This is overlain by the mafic unit composed of high-Mg basalt intercalated with thin chert beds. The upper part of the felsic unit and the entire mafic unit are intruded by layered ultramafic-mafic sills and dykes of felsic porphyry (Hickman, 1986).

Local Geology and Mineralisation

The Mt Monger Project tenements are located on the Bulong Anticline, of the Gindalbie domain, within the Kurnalpi Terrane in the Eastern Goldfields Superterrane of the Archaean Yilgarn Craton of Western Australia. The Mt Monger Project overlies the western limb and nose of the anticline, which comprises a greenstone succession of layered mafic sill that is overlain by a package of mafic and intermediate volcanic and volcaniclastic rocks as well as the granitic core of the anticline.


Wombola Resources

Silver Lake Resources' (ASX:SLR) Mount Monger Mineral Resource Statement as at 30 June 2019 Resource calculations from new drilling and historic work at Mt Monger produced a total resource (measured, indicated and inferred) of 3,688,000 ounces @ 3.7 g/t Au (ASX SLR Announcement 12 February 2020).

Figure 2 shows the Wombola tenements within the Mt Monger Project and the close proximity to the historic Wombola mining pits.

Providence Prospect - Initial area of high interest

An initial area of high interest has been identified with significant historical reverse circulation drilling and some diamond core drilling within the Providence Prospect of Torian's Wombola tenement area (Figure 3*), potentially on-strike with the adjacent historical Wombola and Wombola open-cut mining pits to the northeast of Silver Lake Resources (ASX:SLR) (refer SLR announcement titled Reserve growth reshapes Silver Lake's portfolio dated 27 August 2019). Figure 4* shows a Total Magnetic Intensity (TMI) image of Torian's Wombola tenements with arrows showing the trend of potential mineralisation into Torian's tenements.

The following 3 phase prioritised systematic exploration program will be executed:

Phase 1: Continue our thorough review of all historical exploration data and assays (drilling and geochemical sampling), Commence a program of aggressive prospection, geological mapping, geophysical, and geochemical testing over the Mt Monger project area.

Phase 2: Complete a phase of scout RC drilling at the Mt. Monger to delineate mineralised zones and to follow-up any identified gold intercepts from historical drilling. Samples will be used to better understand the mineralisation and plan geophysical programs going forward.

Phase 3: Undertake a full-scale reconnaissance level prospect program at the Mt Monger tenements with the view of establishing a much broader drill program. RC drilling of identified geochemical rock and soil prospects

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/Q198ZY1K


About Torian Resources Limited:

Torian Resources Ltd (ASX:TNR) is a gold exploration and development company with an extensive and strategic land holding comprising eight projects and over 400km2 of tenure in the Goldfields Region of Western Australia.

Torian's flagship project, Zuleika, is located along the world-class Zuleika Shear. The Zuleika Shear is the fourth largest gold producing region in Australia and consistently produces some of the country's highest grade and lowest cost gold mines. Torian's Zuleika project lies north and partly along strike of several major gold deposits including Northern Star's (ASX:NST) 7.0Moz East Kundana Joint Venture and Evolutions (ASX:EVN) 1.8Moz Frogs Legs and White Foil deposits.

Torian's other projects include the strategically located Mt Stirling and Malcolm Projects in the Leonora region (near Red 5's King of the Hills Project), where it recently completed updated Mineral Resource Estimates and preliminary scoping studies, and a suite of other projects in the Kalgoorlie region including Credo Well JV Zuleika JV, Bonnie Vale, Gibraltar and Mount Monger/Wombola



Contact:

Torian Resources Limited
Louie Simens, Non-Executive Chairman
info@torianresources.com.au


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