TIDMTHR
RNS Number : 7175Q
Thor Mining PLC
30 June 2022
30 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")
Directorate Change
The directors of Thor Mining PLC ("Thor") (AIM, ASX: THR, OTCQB:
THORF) advise that Mark Potter, Non-Executive Chair, will step down
from the Board with immediate effect for personal reasons.
Alastair Clayton, will take on the position of interim
Non-Executive Chair until such time as a replacement can be
appointed. The Company has commenced a search for a permanent
independent Non-Executive to chair the Company. Alastair is
currently a Non-Executive Director of Thor and was appointed to the
Board on 4 October 2021. Alastair is currently Executive Director
of Artemis Resources and was previously a Director of uranium
companies Extract Resources, an ASX100 sold to CGNPC in 2012 for
A$2.2b, Chairman and Non Executive Director of Bannerman Resources
Limited and a Founding Director of multi-mine coal producer and
dividend payer Universal Coal PLC, sold in 2020 in a $A175m deal.
Based in London, Alastair has considerable experience with raising
capital for ASX and AIM listed companies as well as extensive
experience in evaluating and financing large scale mining
projects.
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"On behalf of both the Board and staff we would like to thank
Mark for his commitment and contribution to Thor since his
appointment to the Board in August 2019. He has assisted in raising
capital in the London market and provided invaluable expertise to
the Company over the last three and a half years. We wish him every
success in the future."
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
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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END
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June 30, 2022 02:00 ET (06:00 GMT)
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