Taranis Resources Inc. (OTCQB:TNREF)

Taranis Resources Inc. (OTCQB:TNREF)

Stock Quote
About
SINCE 2006 TARANIS HAS BEEN GROWING THOR:

Drilling, Trenching and Channel Sampling - Exploration drilling, and channel samples designed to delineate the deposit at surface. Included in this is underground back sampling that is able to document the tenor and widths of mineralized zones underground. The following table shows the extensive exploration drilling, channel sampling and underground drilling that has been completed at Thor.

Geophysics - One of the greatest challenges of drilling-out an ore deposit is trying to ascertain the extents and limits of the deposit. Ore deposits typically have physical characteristics that can be used to locate other portions of the deposit using geophysics, and even map out surrounding rock types that have importance to the ore deposit. Taranis has completed numerous geophysical surveys at Thor including electromagnetics, surface and borehole magnetics, and resistivity surveys. Very Low Frequency ("VLF") electromagnetic surveys and resistivity profiling surveys have had the most success in directly locating mineralization. Ground magnetics have been useful in mapping a very important rock unit at Thor that is the Jowett Formation volcanic/intrusive.

Mapping - Geological mapping has proven to be invaluable at Thor, and has been used to map a large anticline structure (SilverCup Anticline) that is an important feature localizing the Thor deposit. Using geological mapping, exposures of the Sharon Creek and Broadview Formations can be located to precisely ascertain the location of the mineralized zones at Thor.

Ground Geochemistry - In addition to the above, Taranis also conduct detailed ground soil sampling surveys and rock sampling surveys, since these provide inexpensive methods of indirectly locating other areas of mineralization.
In conclusion, Taranis geologists are always trying to gain a better understanding of the deposit using a variety of established exploration methods. One of the best ways to gain an understanding of the deposit is to use the data collected from exploration and incorporate it into software that is able to analyze the data in three dimensions!

"The Ridge Target" -- Exploration for Immediate Growth:

Taranis has prioritized and received permit approval for an area on the north end of the deposit that contains a previously unrecognized drilling target named simply the “Ridge Target”. Detailed geological modeling has shown that the receptive Sharon Creek/Broadview Formation contact (mineralized) continues under Thor’s Ridge in the hanging-wall of the Thor Fault Zone. The contact plunges shallowly NNW under Thor’s Ridge.

No mineralization is exposed on Thor’s Ridge; this historical mystery is now explained because the receptive contact occurs at greater depth than is immediately evident. Samples taken 1 km northwest of Thor’s Ridge have shown that at that distance there is still hydrothermal alteration along this feature. The source of this gold-rich mineralization has only been found in float, and the bedrock source remains unexplored to date. With drilling permits in hand for the Ridge Target, that's all about to change.

​Based on mapping and geophysical surveys completed in the summer of 2018, Taranis has refined the target located under "Thor's Ridge" and potentially extended the high-grade SIF gold occurence to the area known as SIF North, almost 1.1 km away. Previous sampling at SIF North obtained gold values up to 0.60 g/t Au (sample 862172) and Westmin Resources obtained gold values up to 3.85 g/t Au.

Further evidence of a sizeable deposit under Thor's Ridge:

The presence of a major topographic feature indicating Broadview Formation in the hanging-wall of the Thor Fault Zone

The presence of the SIF North Zone with highly anomalous gold mineralization that indicates the top of the hydrothermal system in the Thor fault Zone.

The presence of a new zone in the hanging wall of the Blue Bell deposit found at surface and sampled in 2019 that appears to be the southeast terminus of a new zone. This zone has also been intersected in a drill hole Thor-101 and has extensive seeps that are highly anomalous in copper (indicative of tetrahedrite).

2 EM-37 lines that show conductors (600N and 700 North); they show weak to moderate EM anomalies north of the Blue Bell deposit. These conductors have never been drilled and almost certainly are sulfides, and represent the most northern lines of EM-37 surveying on the Thor project.

Karous VLF modeling that shows a number of conductive bodies in the area under Thor’s Ridge. Despite limited depth estimates (~80m), these are related to conductive bodies, that are either lithologic or sulfide in origin.

The topography in this area is challenging, road construction will be required to achieve access. In light of the importance of this new target and the confidence gained in the geological model of this area, Taranis has accelerated permitting of new drill roads and infrastructure leading to the drill site. These permits have been sent to Taranis for review and assent to terms as of January 2020.

"The Intrusive Target" -- A World-Class Target:

.As exploration has progressed on the main Thor deposits themselves, it became increasingly clear that there is a large intrusive body that is hidden at depth below the existing thor Deposit.

The existence of this feature was first-noted in 2015, when Taranis used a method called geophysical inversions to model the source for a large magnetic anomaly found in the ground magnetic surveys at Thor. The inversion was refined in 2019 when Taranis was able to accurately determine elevations using a LiDar survey.

The source of this anomaly is not exposed in surface, although there are tantalizing places where it is exposed either in drilling, or some of the rocks adjacent to the intrusive are exposed (contact metamorphic rocks). The photograph to the left shows an intrusive dyke that was mineralized with sphalerite and uncovered in a drill hole near Broadview Creek.

The importance of this is that it is not uncommon to have very large, mineralized intrusive bodies underlying higher-grade deposits, and volumetrically these can account for the largest amount of mineralization in a deposit.

Building a Polymetallic Mine Starts With a Bulk Sample:

Taranis' targets for 2020 include finalizing permits and beginning site preparation for a 10,000 tonne "Bulk Sample" mining operation in summer 2021.

The bulk sample will be used to gain understanding of the chemical and physical characteristics of the deposit, but is also used to gather immediately actionable data that can be applied to full-scale extraction and processing activities, culminating in safe and effective long-term reclamation.

Changes in the British Columbia mine permitting mean Taranis is required to permit the bulk sample via the full Joint Environmental and Mine Permitting ("JEMA") process. Though the JEMA process requires much more up-front work such as "baseline" data collection, the permitting process which applies to constant commercial production is already well underway, and most if not all of the data collected for the bulk sample will form the basis for major mine permitting, also known as Phase III.

The project plan outlines the removal of surface stockpiles from the Broadview and True Fissure stockpiles. The stockpiles will be transported to the historic True Fissure mill area for pre-concentration.

The Broadview and True Fissure stockpiles are made up of coarsely-broken ore left over from mining activities in the 1930s (Broadview) and 1970's (True Fissure). This material will be fed to a crusher at the True Fissure mill site, producing material that is nominally 1.5 cm in size. The material is then introduced to the Inline Pressure Jig system (pictured top) and sulfide concentrates enriched in precious metals are produced. Gangue material, primarily quartz, is rejected for disposal in a modern, lined coarse reject storage facility.

Small-scale metallurgical testing has shown that roughly 1/3 of the head material will be concentrated. These ~3,300 tonnes will be shipped to a hydrometallurgical facility that can float the sulfide concentrates and produce an even more concentrated product that can be shipped to a smelter facility. This material will then form the basis for a smelter contract that can be used for full-scale commercial production.

​The company has remained laser-focused on performing not just the exploration activities needed to grow the deposit and develop its potential to be an economic driver, but to also carefully catalogue and attack the engineering, environmental, social, and socio-economic factors which are critical to the responsible and practical development of a successful mining operation. Taranis submitted the JEMA in October of 2018 that has been reviewed and signed-off by the Ministry of Energy, Mines and Low carbon initiatives (“EMLCI”) as is currently being finalized for a permit decision.

THOR NI 43-101 COMPLIANT RESOURCE ESTIMATE (2013)
& INTERNAL HOUSE RESOURCE ESTIMATES (2021):

Taranis acquired the Thor deposit in 2006, and has completed exploration programs on the project almost every year for the past 14 years. Taranis routlinely does its own internal Resource Estimates ("IHRE") that provide guidance for exploration efforts on the project. The most recent IHRE was completed in 2021 and was completed after months of geological modeling of the deposit. Although this study has not been made public, it shows huge growth at Thor.

Roscoe Postle completed an NI 43-101 compliant Resource Estimate in 2013 on the drilling data that was collected manly in 2007/08. This required the extensive collection of core to be re-analyzed and check assaying to be completed on 10% of the samples. This study used an NSR cutoff, and Whittle open pit models to determine the Inferred and Indicated Resources.

In addition to the NI 43-101 compliant Resource Estimate, Taranis engaged an engineering company in 2013 to undertake an internal feasibility analyses of mining the Thor deposit using a nearby milling operation. This showed the Thor deposit has considerable promise to be economically viable when paired with that existing infrastructure.

Thor Property Ownership:

-Crown Grants and Mineral Tenures:
-100% Taranis owned.
-Includes 27 Crown Grants (1898 - 1900’s) directly over the known NI 43-101 Resource.
-Additional 2,190 hectares of overlapping and surrounding Mineral Tenures in good standing to 2023.
-Mineral Tenures added through staking and purchase from other companies and individuals.
-Crown Grants give unique rights to development of ore deposits on the property and streamline permitting.
-Elevation 1,550-1,710 m ASL.
-Located 8 km from the Town of Trout Lake.

METALLURGICAL CHARACTERISTICS:

Taranis completed a metallurgical assessment on samples from the Thor Project in 2013. The metallurgical tests were conducted by ALS Metallurgy-Kamloops on two separate portions of the deposit including the main historic sulfide deposit containing silver, lead, zinc, gold and copper and the new gold zone known as 'SIF'. ALS has also completed Acid-Base Assessment labwork of the ore that help characterize the ores and the associated waste products.

The metallurgical flowsheet produces two products - the first is the "Bulk Lead Concentrate" and this contains most of the silver, lead, and gold from the deposit. this is an ideal concentrate for the Teck Smelter in Trail, British Columbia which is located 100 km to the south of Thor. The second product is a "Bulk Zinc Concentrate" and this contains most of the Zinc in the deposit. This is also an ideal product for the Trail Smelter. The two tables to the left show the estimated concentrate products and the initial experimental recoveries. There is considerable upside to improve the recoveries with continued testing in the future.

Finally, there is a significant amount of gold that is found at Thor and these are substantially different from the sulfide mineralization. This gold occurs as native gold within quartz, and is very amenable to gravity separation.

Gold Zone:

There is a considerable amount of gold mineralization in an area located immediately west of the known sulphide deposit that has not been outlined in the existing NI 43-10 Resource, and it is contained almost entirely within quartz-bearing zones. A 117.7 kg composite sample was collected from the SIF gold occurrence and served as the bulk metallurgical sample for the Gold Zone. The head grade was identical to that sampled during the Taranis panel sampling program in summer 2013 (15.5 g/tonne). Gravity recovery in the Gold Zone using a Knelson concentrator yielded 75.8% recoveries, and flotation had 96.5% recovery. Cyanide leaching showed recoveries of 92.7% after 6 hours and 97.8% after 24 hours (ore ground to a nominal 67mm K80 for all tests).

Picture
Visible gold found in the SIF Zone. The SIF occurrence is very different from the sulfide zones on the project, and gold is found in vuggy, massive quartz. There is no silver or base metals associated with this type of mineralization, and the gold is easily extracted from the host rock.

Sulphide Zone:

This composite metallurgical sample was very close to the actual grade of the deposit. Rougher and cleaner tests were performed on the Sulphide Zone and utilized a conventional bulk lead flotation followed by a zinc flotation circuit, (ore ground to a nominal 97mm K80.) A limited number of optimization tests were performed, the best test results were from batch cleaner test 11.

CuEq Metal Equivalent Calculator for Mining Results:

Thor is a true 'polymetallic' deposit, with valuable concentrations of silver, gold, lead and zinc. Copper is also a component, but it is not used as the current metallurgical models do not allow for the recovery of copper.

Starting in October 2016, Taranis began reporting all of its findings using a method called "silver equivalents".

Why? - Because Thor is a complex polymetallic deposit consisting of valuable concentrations of gold, zinc, lead and copper in addition ot the silver content, the significance of such a deposit frequently gets lost in the reporting of five different analyses.

THE BREAKDOWN: METALS AND THEIR CONTRIBUTION TO THE THOR RESOURCE:

Thor is primarily a precious metal deposit, with 56% of its value being derived from the silver and gold content of the deposit. The remaining value (44%) comes from zinc and lead. As such, it is referred to as a 'polymetallic' deposit because it would derive its revenue from the production of at least four metals. This makes the deposit more resilient to the 'ups and downs' of single commodity prices.

THE GREENEST MINE IS THE ONE THAT'S ALREADY BUILT:

Conservationists know that the greenest developments are the ones that are already built. The developed sites at Thor and at the Max concentrator, when combined with innovative technologies like renewable energy, will easily make Midway a contender for the title of "Greenest Mine in B.C."

​Taranis has shared a plan of action with the BC Ministry of Energy, Mines, and Low-Carbon Innovation that can bring Midway into commercial production very quickly while implementing technologies that meet or exceed the Ministry's goals for greenhouse gas emissions reduction and environmental safety.

“Companies, communities and regulators faced with mine closure scenarios should explicitly place future economic occupation of mine sites at the forefront of mine closure visioning and leave open future options for creative human enterprise.” -Bruce Harvey

As consumers expand their search for ethically-sourced products and materials, more attention is being focused on mining and metals production. B.C.'s Ministry of Energy, Mines, and Low-Carbon Innovation is seeking to build a new provincial mining brand around safety, environmental awareness, and low greenhouse gas emissions - and Taranis Resources is ready to deliver immediate solutions to this challenge by uniting the idle Max molybdenum mill with its high-grade polymetallic Thor resource under Midway.

Taranis' leadership has built the Midway concept from the ground up to integrate the three central pillars of sustainability:

REDUCE:

Energy Requirements

-Near-surface Thor deposit requires little energy expenditure to extract valuable minerals
-Mineralized ores don't need to be brought up from deep within the earth
-Permitting is underway for an in-line pressure jig processing system that utilizes 20% less power than traditional jigs
-Nearly 1km of elevation separates Thor and the Max concentrator facilities - Midway is being built to harness this natural energy
-Taranis is in contact with a world-class builder of material ropeways - aerial transport solutions made possible by elevation

Environmental Disturbance:

-Thor is a high-grade mineral deposit - it generates less waste, requires less surface disturbance, and processing is minimized
-Midway doesn't require expensive and environmentally harmful construction of tailings storage facilities, milling infrastructure, or new offices, bunkhouses, etc.
-Midway is being built to not rely on roads or other conventional means of transport - saving the environmental cost typical of this type of infrastructure

CO2 Emissions:

-The Midway material ropeway could save more than 69,000 truck trips over the life of the mine - keeping at least 6.96 million pounds of CO2 from entering the atmosphere

Water Utilization:

-The in-line pressure jig Taranis is permitting recycles 95% of all water used - consuming only 10% of the water used by traditional systems

RE-USE:

Mine Components:

Thor is a brownfield site that has been mined in small-scale production since the 1890s - successful commercial production under the Midway concept will eliminate more than a dozen legacy surface disturbances and waste stockpiles, opening new opportunities for reclamation and environmental management

Mine Infrastructure

Roads, pits, clearings, and tunnels have been left abandoned at Thor for nearly half a century. Environmental leaders recognize that the greenest infrastructure is that which is already built

Mill Components
The past producing Max Project has the necessary grinding circuits, flotation facilities, foundations, buildings, permitted tailings storage facilities, and electrical components in place to produce high quality concentrates from the Thor deposit, saving new installation and environmental disturbance.



Mill Infrastructure:

The Max mine site comprises approximately 3,500 hectares of mining-use areas, roadways, and stockpile areas, including shops, parking areas and other critical infrastructure that make a mine work - Taranis is resolved that re-using this infrastructure is strictly preferable to new construction from an environmental perspective.

RECYCLE:

Surface Waste/Ore Stockpiles from Legacy Mining:

The 10,000 tonne bulk sample at Thor is intended to process stockpiles left on surface from historical mining activities - as development continues, Taranis is seeking to remove all deleterious materials from the surface including waste materials. This will leave the area much improved for future generations and enable expanded use of the land, including recreation

Debris from Legacy Mines

Taranis has already recycled 50t of legacy mill debris around Thor - but more recycling activities will require broader mining activities at Thor. Taranis continues to discover, map, and plan for reclamation activities related to legacy disturbances.

It is clear to Taranis that the same philosophy of re-use that has taken the architecture world by storm can be a guiding principle for mine development that is focused on minimizing its environmental impact:

"Over the past decade I have coined a phrase: The greenest building is…one that is already built. Many who hear me say it assume that I am being metaphysical. I’m not. In the same way that the wisdom of indigenous cultures taught David Suzuki to see the links between humans and nature, preservation philosophy has sensitized me to see the value in the existing world, especially the built world. Taking into account the massive investment of materials and energy in existing buildings, it is both obvious and profound that extending the useful service life of the building stock is common sense, good business, and sound resource management. To fully capture the value of the existing building stock requires merging two disciplines: historic preservation and green building. It requires an understanding of how to respect and renew what is already here and a vision for where and how to transform the legacy of the past into the promise of tomorrow" - Carl Elefante

LID SYNDICATE:

Taranis has a long history of gold exploration in Nevada, and with the recent rankings of the Fraser Institute rankings, Taranis is taking a renewed look at this exciting area. As a founder of the LID Syndicate with Gnumont Gold LLC, both companies own an initial 10% interest in the LID Syndicate.

Despite intense exploration efforts in Nevada, junior mining exploration companies tend to focus on single properties that have little ability to realistically produce a viable deposit. In addition to this, it is almost impossible for smaller exploration companies to realize large-scale exploration efforts owing to the complex rules and regulations that govern their ability to raise funds for exploration. There is a reason that most of the big gold deposits discovered in Nevada over the past 20 years have been made by large gold exploration companies.

-First, most major mining companies operate autonomously and are well-funded. This means that they are able to sustain long exploration efforts to locate new gold deposits, and generally they do this without needing to publicize their activity or results for an extended period of time.
-Second, they are able to develop and explore using geological models that are conceptual, well thought out, and are focused on finding large (+5M Oz) gold deposits. In some cases, it is only after years of sustained exploration that the exploration models produce tangible results, but when they do - they tend to be dramatic.
-Third, apart from being well-funded, the exploration programs that find these types of gold deposits do not require funding from public markets. As such, the exploration programs are not subject to the regulations and reporting requirements that are required for the normal operation of most junior mining companies.

We believe that the LID Syndicate offers solutions to many of these issues that impede junior mining companies from exploring Nevada in a method that is necessary to find additional large deposits. We believe this is the future of exploration in Nevada!
Infographics
  • Website

  • Founded Year 2001

  • Employee Size 1 - 10

  • Address 681 Conifer Lane Estes Park, Colorado USA 80517