Torian Resources Limited (ASX: TNR) has announced that it will shortly commence a new phase of drilling targeting extensions of known high‐grade gold mineralisation at its Credo Well Gold Project in Western Australia.
The company said that the 8‐hole RC drilling programme for ~650m will target extensions of previous high‐grade intercepts of up to 68.5g/t Au.
Previous high‐grade intercepts also include 4m @ 32.51g/t Au from 27m, including 2m @ 57.05g/t Au from 29m; and 4m @ 6.66g/t Au from 70m, including 2m @ 12.40g/t Au from 70m.
TNR reported that the drilling is designed to evaluate the potential for the high‐grade mineralisation to extend up‐ and down‐dip, with holes to be drilled to an average depth of 85m and between 20 to 150m.
The company said that the drilling will be undertaken while due diligence is finalised as part of the recently announced $2m joint venture with Dampier Gold.
Credo Well gold project
The Credo Well Gold Project is located ~35km north‐west of Kalgoorlie, within the Kalgoorlie Terrane of the Norseman‐Wiluna greenstone belt, forming the southern portion of the Ora Banda domain.
The prospective gold targets of the project include Credo Well, Fortis, and Fidelitas.
At the Credo Well prospect, located in the north‐west of the project, mineralisation is hosted within steeply dipping quartz‐pyrite veins within a sheared mafic package including basalt, dolerite, and gabbro.
High-grade historical results
The north‐east trending historical workings at Credo Well are reported to have produced 835 tonnes @ 39.7g/t Au between 1897 and 1919.
Highlights from drilling conducted by Torian in the Main Zone at Credo Well include 4m @ 32.51g/t Au from 27m, including 2m @ 57.05g/t Au from 29m; and 4m @ 6.66g/t Au from 70m, including 2m @ 12.40g/t Au from 70m.
Torian’s drilling also resulted in the discovery in the hanging wall of the Main Zone; 1m @ 68.50g/t Au from 39m.
Other historical drilling intersections from Credo Well include 3m @ 16.46g/t Au from 54m (main vein); 1m @ 58.80g/t Au from 1m (main vein); 5m @ 7.42g/t Au from 39 (hanging wall vein); and 8m @ 10.47g/t Au from 61m (main vein).
New phase of drilling to commence soon
The Company announced that it has mobilised a drill rig to undertake an 8‐hole Reverse Circulation (RC) drill programme, with drilling expected to commence immediately.
The objective of the drilling is to extend the mineralisation up‐ and down‐dip, including twinning CRC013 to determine the width of mineralisation.
Torian said that the drilling will be undertaken while due diligence is finalised as part of recently announced JV with Dampier Gold.
The company said that the holes will be drilled to an average depth of 85m and between 20 to 150m.
Dampier Gold JV
Torian and Dampier Gold Limited (Dampier) had entered into a $2 million staged farm in agreement whereby Dampier may earn up to 50% in the Project.
The Joint Venture will commence after certain conditions precedent are satisfied including shareholder approval by Dampier shareholders.
Torian reported that it intends to work together with Dampier to add value to the Credo Well and Zuleika Projects.
Management comments
Torian Technical Director Stephen Jones commented: “This is an exciting opportunity to further evaluate some exceptional high‐grade zones of gold mineralisation at Credo Well that were delineated previously by Torian and in historical drilling.
Given the grade and tenor of the mineralisation intersected in the previous drilling, we are very much looking forward to what the upcoming drilling program can deliver.This drill programme aims to test the extent and continuity of the high‐grade zones, providing a platform for future exploration as part of the Dampier Gold Joint Venture.”
