TIDMTHR
RNS Number : 2671P
Thor Mining PLC
17 June 2022
17 June 2022
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR
Thor Mining PLC
("Thor" or the "Company")
Ragged Range Project, WA
Electromagnetic Conductor identified beneath Nickel Gossan
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce that the recently completed
electromagnetic geophysics survey over the nickel gossan at the
Krona Prospect identified a conductive anomaly 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 identified a shallow conductor beneath the
nickel gossan at the Krona Prospect (Figure 1 and Figure 2).
-- The conductor is consistent with sulphides and warrants drill testing to validate.
-- The nickel gossan is located at the basal contact of the
Dalton Suite ultramafic unit (altered Archean Komatiite) in the
classic location for nickel-copper sulphide mineralisation.
-- The shallow conductor will be drill tested including downhole
EM, as part of the upcoming reverse circulation (RC) drilling
program scheduled to commence next week at the Sterling Gold
Prospect.
Photo of the FLEM crew carry out survey may be viewed via the
following link:
http://www.thormining.com/sites/thormining/media/Maps/flem-crew.jpg
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"I am encouraged that the first ground geophysics survey at
Ragged Range has identified a shallow electromagnetic conductor.
The target is modelled at around 100m below the surface,
establishing it a clear drill target for the upcoming RC drilling
program.
"We look forward to drill testing this anomaly as part of our RC
drilling program, scheduled to commence at Sterling Prospect next
week."
The Ragged Range Project, located in the prospective 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 1)).
Figure 1: Tenement Location Plan overlying GSWA 1:500k geology
showing the gossan position, Krona Prospect adjacent to the
Sterling prospect 13km gold trend may be viewed by the following
link:
http://www.thormining.com/sites/thormining/media/maps/tenure_krona-prospect.jpg
Krona Prospect - Nickel Gossan
A high-powered Fixed Loop Electromagnetics (FLEM) ground
geophysics survey was completed over the Krona Prospect, covering
the full extent of the nickel gossan, located in the western
portion of the tenure (Figures 1 and 2). This is the first ground
geophysics survey on the Ragged Range Project. The survey over the
gossan was designed to detect conductive anomalies at depth that
may indicate the presence of massive nickel-copper sulphide
mineralisation to constrain initial drill testing.
A single loop FLEM survey over the Krona prospect identified a
conductor at the southern end of the gossan (Figure 2). The
conductor was modelled as a shallow flat lying feature
approximately 100m deep (Figure 3) and is consistent with
sulphides. The shallow (100m) conductor gives Thor a clear drill
target, that will be drill tested as part of the upcoming RC
program at the adjacent Sterling Prospect (Figure 3).
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, with the
older Wyman Formation, felsic volcanics.
Figure 2: FLEM survey showing EM conductor overlain on the 100K
GSWA Geology may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/maps/kronaem_fig.png
Figure 3 : 3D modelled conductor may be viweded via the
following link:
http://www.thormining.com/sites/thormining/media/maps/3d-modelled-conductor.jpg
Next Steps
-- Commence RC drilling program at Sterling Prospect following
up on structurally controlled anomalous gold in streams and
soils.
-- Drill test EM conductor at Krona Prospect as part of RC
drilling program, with downhole EM.
-- 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.
-- Continue regional exploration, focusing on both lithium
priority areas and the copper-gold historic workings in the
northeastern portion of tenure.
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 Geophysical
Exploration Results is based on information compiled by Kim
Frankcombe, a Competent Person who is a Member of The Australian
Institute of Geoscientists. Mr Frankcombe is employed as a
Consultant to the Company through geophysical consultancy. Mr
Frankcombe has sufficient experience that is relevant to the style
of mineralisation and type of deposit under consideration and to
the activity being undertaken 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'. Mr
Frankcombe consents to the inclusion in the report of the matters
based on his information and the form and context in which it
appears.
The information in this report that relates to Geological
interpretation and 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 .
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
1. 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling No new drilling or surface
techniques * Nature and quality of sampling (e.g. cut channels, sampling in this release.
random chips, or specific specialised industry * THR is reporting the results of a ground
standard measurement tools appropriate to the electromagnetic survey conducted by Vortex geophysics
minerals under investigation, such as down hole gamma PTY LTD which commenced on the 10 May 2022 and
sondes, handheld XRF instruments, etc). These finished on the 26 May 2022
examples should not be taken as limiting the broad
meaning of sampling.
* The electromagnetic data was acquired using a Emit
SmarTEM 24, 16 channel receiver with 3 component
* Include reference to measures taken to ensure sample smart fluxgate.
representivity and the appropriate calibration of any
measurement tools or systems used.
* 1 Vortex VTX-100 transmitter and associated
generator.
* Aspects of the determination of mineralisation that
are Material to the Public Report.
* The FLEM system specifications are as follows:
* In cases where 'industry standard' work has been done,
this would be relatively simple (e.g. 'reverse o Senor configuration:
circulation drilling was used to obtain 1 m samples 3 component smart fluxgate
from which 3 kg was pulverised to produce a 30 g magnetometer.
charge for fire assay'). In other cases, more o Receiver=SmartTEM-24
explanation may be required, such as where there is o Transmitter=Vortex
coarse gold that has inherent sampling problems. VTX-100
Unusual commodities or mineralisation types (e.g. * Tx Current = is 50-60A for 400x 600m loops. 80A for
submarine nodules) may warrant disclosure of detailed the 300x200m loop o Base Frequency = 2.5 Hz o Off
information. time = 100 msec o GPS control = handheld GPS.
=================================================================
Drilling Not applicable -
techniques * Drill type (e.g.core, reverse circulation, open-hole No drilling reported
hammer, rotary air blast, auger, Bangka, sonic, etc.)
and details (e.g.core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc.).
=============== ================================================================= =============================================================
Drill sample Not applicable-
recovery * Method of recording and assessing core and chip No drilling reported
sample recoveries and results assessed.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
=============== ================================================================= =============================================================
Logging Not applicable-
* Whether core and chip samples have been geologically No drilling reported
and geotechnically logged to a level of detail to
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
* The total length and percentage of the relevant
intersections logged.
=============== ================================================================= =============================================================
Sub- sampling Not applicable-
techniques * If core, whether cut or sawn and whether quarter, No drilling reported
and sample half or all core taken.
preparation
* If non-core, whether riffled, tube sampled, rotary
split, etc. and whether sampled wet or dry.
For all sample types, the nature,
quality and appropriateness
of the sample preparation technique.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples.
* Measures taken to ensure that the sampling is
representative of the in-situ material collected,
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
=============== ================================================================= =============================================================
Quality No drilling reported
of assay * The nature, quality and appropriateness of the Vortex Geophysics conducted
data and assaying and laboratory procedures used and whether the FLEM survey.
laboratory the technique is considered partial or total. * The electromagnetic data was acquired using a Emit
tests SmarTEM 24, 16 channel receiver with 3 component
smart fluxgate.
* For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining
the analysis including instrument make and model, * 1 Vortex VTX-100 transmitter and associated
reading times, calibrations factors applied and their generator.
derivation, etc.
* The FLEM system specifications are as follows:
* Nature of quality control procedures adopted
(e.g.standards, blanks, duplicates, external
laboratory checks) and whether acceptable levels of o Sensor configuration:
accuracy (ie lack of bias) and precision have been 3 component smart fluxgate
established. magnetometer.
o Receiver=SmartTEM-24
o Transmitter=Vortex
VTX-100
* Tx Current = 50A for 100-200m/50 line/station
spacing. o Base Frequency = 0.5 Hz
o Off time = 500 msec
* 9 lines/134 stations
* Distanced surveyed 6.3km
=================================================================
Verification FLEM - Data received
of sampling * The verification of significant intersections by is preliminary in nature
and assaying either independent or alternative company personnel. and has been reviewed
by Kim Frankcombe ExploreGeo
pty Ltd geophysical consultant.
* The use of twinned holes. FLEM conductors have
been selected by Kim
Frankcombe ExploreGeo
* Documentation of primary data, data entry procedures, pty Ltd geophysical Consulting.
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
=============== ================================================================= =============================================================
Location No drilling reported
of data points * Accuracy and quality of surveys used to locate drill FLEM - Data using a handheld
holes (collar and down-hole surveys), trenches, mine GPS
workings and other locations used in Mineral Resource * GDA94 Zone 50.
estimation.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
=============== ================================================================= =============================================================
Data spacing FLEM line spacing is
and * Data spacing for reporting of Exploration Results. appropri ate for exploration
distribution purposes.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
=============== ================================================================= =============================================================
Orientation Fix loop Electromagnetics
of data in * Whether the orientation of sampling achieves unbiased lines were oriented perpendicular
relation sampling of possible structures and the extent to to gossan trend.
to geological which this is known, considering the deposit type.
structure
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
=============== ================================================================= =============================================================
Sample No sampling reported.
security * The measures taken to ensure sample security.
=============== ================================================================= =============================================================
Audits None undertaken.
or reviews * The results of any audits or reviews of sampling
techniques and data.
============= ================================================================= ===============================================================
Mineral tenement Exploration results
and land tenure * Type, reference name/number, location and ownership are reported on
status including agreements or material issues with third E46/1262 in Western
parties such as joint ventures, partnerships, Australia held
overriding royalties, native title interests, 100% by Pilbara
historical sites, wilderness or national park and Minerals Pty Ltd
environmental settings. (100% subsidiary
of Thor Mining
PLC).
* The security of the tenure held at the time of The tenement is
reporting along with any known impediments to secure under WA
obtaining a licence to operate in the area. legislation and
is in good standing.
==================================================================
Exploration done Geological mapping
by other parties * Acknowledgment and appraisal of exploration by other and stream sediment
parties. sampling by Great
Southern Mines
and Thor Mining.
Open File Report
A050141-Surrender
Report.
======================== ================================================================== ======================
Geology Yet to be
* Deposit type, geological setting and style of determined.
mineralisation.
======================== ================================================================== ======================
Drill hole Information No drilling has
* A summary of all information material to the been undertaken
understanding of the exploration results including a or reported.
tabulation of the following information for all
Material drill holes:
o easting and northing of the drill
hole collar
o elevation or RL (Reduced Level
- elevation above sea level in metres)
of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception
depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
======================== ================================================================== ======================
Data aggregate Only field
n methods * In reporting Exploration Results, weighting averaging observations
techniques, maximum and/or minimum grade truncations have been reported.
(e.g.cutting of high grades) and cut-off grades are There has been
usually Material and should be stated. no data aggregation.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated
======================== ================================================================== ======================
Relationship between No drilling has
mineralisaton widths * These relationships are particularly important in the been undertaken
and intercept lengths reporting of Exploration Results. or reported.
* If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (e.g.'down hole length, true width not
known').
======================== ================================================================ ========================
Diagrams See body of report.
* Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for any
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
======================== ================================================================ ========================
Balanced reporting FLEM data is reported
* Where comprehensive reporting of all Exploration for Krona Prospect.
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
====================== ================================================================ ==========================
Other substantive All data have been
exploration data * Other exploration data, if meaningful and material, reported.
should be reported including (but not limited to):
geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
====================== ================================================================ ==========================
Further work It is anticipated
* The nature and scale of planned further work that the EM conductor
(e.g.tests for lateral extensions or depth extensions identified from
or large-scale step- out drilling). the FLEM survey
will be drill tested
to validate - diagram
* Diagrams clearly highlighting the areas of possible included in report
extensions, including the main geological showing potential
interpretations and future drilling areas, provided drillhole location,
this information is not commercially sensitive.
====================== ================================================================ ==========================
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END
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