Taranis Resources talks lamprophyre intrusives at Thor

Executive Summary

• Taranis Resources Inc. reports significant geological findings from its Thor property, identifying a lamprophyre intrusive system and related alteration that directly affiliates with calc-alkaline epithermal deposits, similar to major North American deposits like Cripple Creek.
• The company discovered the "Borr zone" on the eastern side of the lamprophyre dike alteration system in 2025, indicating that the epithermal deposit remains intact at depth and open, offering potential to expand the Thor deposit.
• The release details how modern exploration methods (deep drilling, geophysics, geochemistry) have revitalized the historic Silver Cup mining district, explaining previous lack of mineralization in historic tunnels as the result of the deposit being cut off by the younger lamprophyre intrusion.

Key Details

• Geological Context: The Thor deposit is intruded by a younger lamprophyre dike system which cuts off the deposit at depth. The main lamprophyre body and epithermal deposit crosscut the older Silver Cup anticline.
• Deposit Structure: Modelling shows the intrusive has punched through and intruded the epithermal deposit, breaking it into two halves:
  • Western (Upper) Half: The currently known Thor deposit.
  • Eastern (Lower) Half: Discovered in 2025, now called the Borr zone.
• Future Drilling Focus: Taranis will focus drilling on the Borr zone in the foreseeable future to expand the Thor deposit at depth.
• Lamprophyre Characteristics:
  • Linear, steeply dipping dike-shaped bodies intruding lower Paleozoic-age metasedimentary and metavolcaniclastic rock units.
  • Mafic composition with high levels of magnesium, nickel, copper, and chromium.
  • Derivation from the mantle.
• Alteration Zones:
  • Metasomatism associated with the dikes is volumetrically large, extending tens of metres away from the dikes.
  • Identified alterations include magnetite introduction, garnet (grossular-andradite), chloritization, albitization, carbonatization, and pyritization.
  • Unique features include ocelli and gold-bearing fuchsite along dike edges.
  • One drill hole (Thor-256) identified a magnesite carbonatite intrusive body associated with lamprophyre.
• Geophysical Anomalies:
  • 2022 Magnetotelluric (MT) surveys identified two large conductivity features ("tusks") spatially related to the lamprophyre.
  • Northern and southern tusks bracket the lamprophyre body and associated alteration.
  • The northern tusk exposure (megagossan) is enriched in iron, nickel, copper, chromium, and graphitic host rocks.
  • Conductivity anomaly source is conductive carbonaceous material from cooked organic matter in host metasedimentary rocks.
• Historical Context:
  • Lamprophyres were previously unrecognized in the Silver Cup mining district (historically misidentified as volcanic members of the Broadview formation).
  • Explains the 1930s Morgan tunnel (1km long) encountering no mineralization: miners drove along the western edge of the lamprophyre dike where the deposit was intruded and consumed.
• Land Position: Taranis holds 6,500 hectares in the Silver Cup district.
• Qualified Person: John Gardiner, PGeo, Principal of John J. Gardiner & Associates LLC.
• Share Count: 102,421,487 shares issued and outstanding (119,972,613 on a fully diluted basis).

Notable Quotes

• "The 2025 discovery of the Borr zone on the eastern side of the lamprophyre dike alteration system indicates that the epithermal deposit remains intact at depth and open. This finding offers unprecedented potential to expand the Thor deposit at depth and is where Taranis will focus on drilling in the foreseeable future."
• "Lamprophyre rocks are known to be genetically associated with some of the largest (calc-alkaline) epithermal deposits in North America... The presence of lamprophyres is direct evidence that a deep structure tapped down into the mantle under Thor and provided the heat engine to the hydrothermal system that formed the lamprophyre dike, but almost certainly the epithermal deposit itself."
• "What the company's exploration work at Thor has demonstrated is that these deposits are in fact calc-alkaline intrusive-related deposits and as such have close affinity to some of the largest epithermal deposits in North America."