May 9 (Reuters) - Torian Resources Ltd TNR.AX :
* It has earned its initial 12.25% interest in the zuleika jv project.
* Under terms of the jv, Torian can earn up to a 49% interest in the project by spending $5 million on the project over four years
* Says also had the ability to earn an initial 12.25% interest in the project
by spending $1.25 million in the first year
* Says Torian and cascade are in discussions regarding a possible merger
* Source text for Eikon ID:nASX5mHCk5