TIDMTHR
RNS Number : 5903K
Thor Mining PLC
06 May 2022
06 May 2022
Thor Mining PLC
("Thor" or the "Company")
Ragged Range Project, WA
Electromagnetic Survey Commences over Nickel Gossan
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce that a groundbased electromagnetic
survey over the nickel gossan now referred to as the Krona Prospect
has commenced at the Company's 100% owned Ragged Range Project,
located in the Eastern Pilbara, Western Australia.
Project highlights:
-- A high-powered Fixed Loop Electromagnetics (FLEM) ground
geophysics survey has commenced at the Krona Prospect, extending
over the untested nickel gossan located in the western portion of
the tenure (Figure 1 and 2).
-- The survey is designed to detect conductive anomalies at
depth that may indicate the presence of nickel sulphide
mineralisation.
-- The nickel gossan is located at the basal conduct of the
Dalton Suite ultramafic unit (altered Archean Komatiite) in the
classic location for nickel sulphide mineralisation.
-- Lithium: Concurrently the Thor team is on the ground mapping
and sampling several lithium targets, including potential
lithium-caesium-tantalum (LCT) pegmatites which have been
identified within the prospective 10km radius of the Split Rock
Supersuite at Thor's Ragged Range Project (Figure 1).
-- Gold: Final preparations are in place to commence the second
phase of RC drilling at the Sterling Gold Prospect.
Photo Plate 1: Nickel gossan, Krona Prospect may be viewed via
the following link:
http://www.thormining.com/sites/thormining/media/maps/nickel-gossan.jpg
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"Thor is excited to see the geophysics crew begin work on the
ground after nearly one year of waiting for this survey to commence
as a result of WA border closure and high demand on geophysics
crews.
"Geological mapping and sampling indicate that the gossan
extends over 1km, with geochemistry highlighting anomalous nickel
and chromium. The electromagnetic survey is expected to identify
the most prospective areas of nickel sulphide mineralisation at
depth to conduct initial drill testing and will take around one
week to complete, with results to follow soon after.
"Concurrently, we are working to map and sample several targets
prospective for lithium identified within a 10km radius of the
Split Rock Supersuite at Ragged Range as well as finalising
preparations to commence RC drilling at the Sterling Gold prospect,
following up on structurally controlled anomalous gold in streams
and soils.
"We look forward to updating the market as soon as results are
available."
Figure 1 : Position of Fixed Loop Electromagnetic Survey over
nickel gossan may be viewed by the following link:
http://www.thormining.com/sites/thormining/media/maps/ragged-range-airborne-interp_nickel_flem.png
Figure 2: Tenement Location Plan overlying GSWA 1:500k geology
showing distribution of Split Rock Supersuite with priority lithium
target areas (Red dash ovals), nickel gossan (purple outline) and
Sterling gold prospect (yellow stripes) may be viewed by the
following link:
http://www.thormining.com/sites/thormining/media/maps/rr-tenure_prospects.jpg
The Ragged Range Project, located in the prospectve Eastern
Pilbara Craton, Western Australia, is 100% owned by Thor Mining -
covering E46/1190, E46/1262, E46/1355, E46/1340 and recently
granted E46/1393 (Figure 2).
Next Steps
Whilst the FLEM survey is underway, the Thor geological team are
progressing:
-- The investigation of all small granitic and pegmatitic bodies
in the lithium target area, focusing on the prospective 10km halo
of the Mondana Monzogranite, part of the Split Rock Supersuite
(E46/1262, E46/1190, E461393 and E46/1340) (Figure 1).
-- Preparations for RC drilling at the Sterling Prospect
following up on structurally controlled anomalous gold in streams
and soils.
-- An Airborne magnetic/radiometric survey, scheduled to be
flown over the eastern portion of the tenure (including E46/1340
and E46/1393) in the near future.
Nickel Gossan
A high-powered, Fixed Loop Electromagnetics (FLEM), ground
geophysics survey has commenced over the Krona prospect, covering
the full extent of the nickel gossan, located in the western
portion of the tenure (Figures 1 and 2). The survey is being
undertaken by Vortex Geophysics Pty Ltd.
The ground geophysics survey is designed to detect conductive
anomalies at depth that may indicate the presence of nickel
sulphide mineralisation to constrain initial drill testing. The
FLEM survey is anticipated to take one week to complete.
The gossan was initially identified by the Western Australian
Geological Survey on the Split Rock 1:100K mapping explanatory
notes (Bagas et al., 2004). The gossan extends over 1km x 100m and
lies on the basal contact of the Dalton Suite ultramafics along
with the older Wyman Formation felsic volcanics. Sampling by Thor
in 2020 highlighted nickel grades up to 2,678ppm Ni (20PRC444),
with chromium up to 2,607ppm Cr (20PRC05) (ASX: THR 26 August
2020), (Photo Plate 2).
Magmatic nickel sulphide deposits lie at the base of mafic and
ultramafic bodies and tend to be closely associated with major deep
tapping structures.
Photo Plate 2 may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/maps/photo-plate_nickel.jpg
References
Bagas et al., 2004. Geology of the Spilt Roc 1:100,000 Sheet.
1:00,000 Geological Series. Geological Survey of Western
Australia
This announcement is authorised for release to the market by the
Board of Directors.
For further information, please contact:
Thor Mining PLC
Nicole Galloway Warland, Managing Director Tel: +61 (8) 7324
Ray Ridge, CFO / Company Secretary 1935
Tel: +61 (8) 7324
1935
WH Ireland Limited (Nominated Adviser Tel: +44 (0) 207
and Joint Broker) 220 1666
Jessica Cave / Darshan Patel / Megan Liddell
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483
413 500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004
9512
Competent Persons Report
The information in this report that relates to exploration
results is based on information compiled by Nicole Galloway
Warland, who holds a BSc Applied geology (HONS) and who is a Member
of The Australian Institute of Geoscientists. Ms Galloway Warland
is an employee of Thor Mining PLC. She has sufficient experience
which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which she is
undertaking to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. Nicole Galloway
Warland consents to the inclusion in the report of the matters
based on her information in the form and context in which it
appears.
Updates on the Company's activities are regularly posted on
Thor's website www.thormining.com , which includes a facility to
register to receive these updates by email, and on the Company's
Twitter page @ThorMining
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR; OTCQB: THORF) is a diversified
resource company quoted on the AIM Market of the London Stock
Exchange, ASX in Australia and OTCQB Market in the United
States.
The Company is advancing its diversified portfolio of precious,
base, energy and strategic metal projects across the USA and
Australia. Its focus is on progressing its copper, gold, uranium
and vanadium projects, while seeking investment/JV opportunities to
develop its tungsten/molybdenum assets.
Thor owns 100% of the Ragged Range Project, comprising 92 km(2)
of exploration licences with highly encouraging early-stage gold
and nickel results in the Pilbara region of Western Australia, with
follow up drilling planned for 2022.
At Alford East in South Australia, Thor is earning an 80%
interest in copper deposits considered amenable to extraction via
In Situ Recovery techniques (ISR). In January 2021, Thor announced
an Inferred Mineral Resource Estimate of 177,000 tonnes contained
copper & 71,000 oz gold(1).
Thor also holds a 30% interest in Australian copper development
company EnviroCopper Limited, which in turn holds rights to earn up
to a 75% interest in the mineral rights and claims over the
resource on the portion of the historic Kapunda copper mine and the
Alford West copper project, both situated in South Australia, and
both considered amenable to recovery by way of ISR.(2)(3)
Thor holds 100% interest in two private companies with mineral
claims in the US states of Colorado and Utah with historical
high-grade uranium and vanadium drilling and production
results.
Thor holds 100% of the advanced Molyhil tungsten project,
including measured, indicated and inferred resources , in the
Northern Territory of Australia, which was awarded Major Project
Status by the Northern Territory government in July 2020. Drilling
in November December 2021 intersected strike extensions to the main
ore zone.
Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in
deposits of tungsten, copper, and vanadium, including Inferred
resource estimates for the Bonya copper deposit and the White
Violet and Samarkand tungsten deposits.
Notes
(1)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
(2)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(3)
www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(4)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf
(5)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
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