Taranis Intersects 29% Combined Cu-Pb-Zn, 3.51 g/t Au and 697 g/t Ag Over 2.43 m True Thickness in Deeper Drilling of the Great Northern Zone at Thor Project, British Columbia



    LAKEWOOD, CO, Aug. 7 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V:
TRO) continues to outline a large precious and base metal bearing deposit
found within the Combined Metals Unit ("CMU") at Thor, now extending 1.6 km in
strike length. Drilling is progressing with two drills and is expected to
continue until at least the end of September.
    The drill results pertain to the Great Northern Zone ("GNZ") where
Taranis previously reported a number of ore-grade intercepts (see News
Releases dated November 5, 2007, December 11, 2007 and January 22, 2008).

    
                             Great Northern Zone
    

    Taranis currently has two drills operating on the GNZ drilling the
deposit on a spacing approximately 40 m between drill sections. Drilling
demonstrates that the zone dips about 50 degrees to the east, and is
characterized by volcaniclastic rocks increasing in thickness down-dip. The
lithologic change and the increasing Cu/(Cu+Pb+Zn) ratios at depth suggest
that the source of the massive sulphide lies progressively deeper towards a
laterally extensive low relief subtle positive magnetic anomaly identified in
the 2007 exploration program. All drill holes are oriented at an azimuth of
250 degrees to the CMU and intersect the zone normal to the strike and dip of
the zone.

    Section 250m South

    Drill Hole Thor-64 (-50 degrees) intersected massive sulphide in the CMU.

    
    -------------------------------------------------------------------------
    Thor-64
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    43.89      45.94    0.56   136.8   0.13    3.12     8.84       2.05
    -------------------------------------------------------------------------
    

    Drill Hole Thor-65 (-70 degrees) was drilled from the same setup and
intersected a wide zone of low-grade massive sulphide located 48 m below the
surface.

    
    -------------------------------------------------------------------------
    Thor-65
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    45.99      51.39    0.63    74.8   0.06    1.52     1.25       5.40
    -------------------------------------------------------------------------
    

    Drill Hole Thor-71 (-73 degrees) was drilled down-dip of the Thor-65
intercept and extended the GNZ to over 95m on the dip slope.

    
    -------------------------------------------------------------------------
    Thor-71
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    105.16    107.59    3.51   696.6   0.73   13.74    14.55       2.43
    -------------------------------------------------------------------------
    and
    -------------------------------------------------------------------------
    114.15    117.17    0.11   151.3   0.06    0.70     0.07       3.02
    -------------------------------------------------------------------------
    

    Drill Holes Thor-66 and Thor-68 were drilled on the same section and
intersected the GNZ but analytical results have not yet been received.

    Section 290m South

    Drill Hole Thor-61 (-90 degrees) extended the CMU 85 m down-dip below
surface and intersected a wide zone of massive sulphide mineralization.

    
    -------------------------------------------------------------------------
    Thor-61
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    72.06      79.13    0.56   179.0   0.12    2.90     2.75       7.07
    -------------------------------------------------------------------------
    

    Drill Hole Thor-62 (-70 degrees), drilled from the same setup as Thor-61
intersected two narrow zones of massive sulphide.

    
    -------------------------------------------------------------------------
    Thor-62
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    62.95      63.31    0.75   517.0   0.34    4.94     4.23       0.36
    -------------------------------------------------------------------------
    and
    -------------------------------------------------------------------------
    72.49      72.67    1.23  1216.0   0.36   15.52    12.00       0.18
    -------------------------------------------------------------------------
    

    Drill Hole Thor-63 (-50 degrees), from the same setup intersected a
high-grade zone of massive sulphide.

    
    -------------------------------------------------------------------------
    Thor-63
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    63.10      64.53    0.82   873.7   1.55    7.22     3.88       1.43
    -------------------------------------------------------------------------
    

    Drill Hole Thor-67 (-45 degrees) was drilled near the up-dip edge of the
zone.

    
    -------------------------------------------------------------------------
    Thor-67
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    23.10      23.90    3.70    83.6   0.06    1.06     0.52       0.80
    -------------------------------------------------------------------------
    

    Drill Hole Thor-73 (-90 degrees) from the setup as above extended the CMU
down-dip 182 m below surface and intersected a narrow zone.

    
    -------------------------------------------------------------------------
    Thor-73
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    163.31    163.68    4.48   165.5   0.21    2.21     0.04       0.37
    -------------------------------------------------------------------------
    

    Drill Hole Thor-75 (-75 degrees) was drilled from the same setup as
Thor-73 and intersected a narrow intercept of massive sulphide.

    
    -------------------------------------------------------------------------
    Thor-75
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    120.76    121.01    1.07    48.2   0.33    1.33     8.49       0.25
    -------------------------------------------------------------------------
    

    Section 380m South

    Drill Hole Thor-72 (-90 degrees), was drilled from a single set-up along
the up-dip edge of the CMU extended the known mineralization along strike a
further 60 m to the south than previously known. More drilling in this area
will be needed to extend the zone down-dip.

    
    -------------------------------------------------------------------------
    Thor-72
    -------------------------------------------------------------------------
    From (m)    To       Au      Ag    Cu     Pb (%)   Zn (%)   Thickness
                (m)    (g/t)   (g/t)   (%)                         (m)
    -------------------------------------------------------------------------
    6.10       7.20     4.84   310.9   0.14    4.11     4.80       1.10
    -------------------------------------------------------------------------
    and
    -------------------------------------------------------------------------
    32.92     34.14     1.81   780.8   0.55    4.73    13.83       1.22
    -------------------------------------------------------------------------
    

    Geologic Overview of Great Northern Zone

    Drilling has demonstrated that the CMU is prone to tectonic thickening
along a prominent structural lineation plunging shallowly northward. The 2007
exploration program at Thor suggested that the True Fissure Zone located
several hundred meters north of the GNZ was a faulted-off portion of the much
larger GNZ, and this interpretation has been supported by the early 2008
drilling program. John Gardiner, President and CEO states "We are very
encouraged by the initial 2008 drill program results, and are continuing to
expand the known precious and base metal enriched zones at Thor."

    Quality Control and Analytical Procedures

    Analytical work for the Thor due-diligence was completed by Acme
Analytical Laboratories Limited ("Acme") of Vancouver, Canada that is
accredited to BS EN ISO 9001:2000. In addition to the numerous internal
quality control checks undertaken within Acme, Taranis also submits a series
of external standard samples to ensure accurate analytical reporting. Drill
core is logged on-site and is sawed in half for analysis. One half is retained
for geologic records and further assay verification if required. Exploration
activities on the Thor property were overseen by John Gardiner (P. Geol.) and
Jim Helgeson (P. Geo.), both Qualified Persons under the meaning of Canadian
National Instrument 43-101.

    About Taranis Resources Inc.

    Taranis currently has 18,207,875 shares issued and outstanding 21,639,216
shares on a fully-diluted basis).

    TARANIS RE

SOURCES INC. Per: John J. Gardiner (P. Geol.), President and CEO The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information:

For further information: For Investor Relations, contact:  John
Gardiner,  14247 West Iliff Avenue, Lakewood, Colorado, Phone: (303) 716-5922
or (720) 209-3049, info@taranis.us; George Kent, 130 Carlton Street, Toronto,
Ontario, Phone: (416) 323-0783, georgerkent@sympatico.ca

Organization Profile

TARANIS RESOURCES INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890