TIDMTHR
RNS Number : 9817R
Thor Mining PLC
11 July 2022
11 July 2022
Thor Mining PLC
("Thor" or the "Company")
Ragged Range Project, WA
RC Drilling Program Completed
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce the completion of the drilling
program at the Company's 100% owned Ragged Range Project, located
in Eastern Pilbara, Western Australia.
Project highlights:
-- Thor drilled 48 reverse circulation ("RC") holes totalling
3,120m at Ragged Range over the last three weeks.
-- Drilling tested both structural and geochemical targets along
the Sterling Prospect 13km gold corridor, with 11 drill traverses
completed (Figure 1).
-- Drilling targeted interpreted dilational zones associated
with faulting and folding along the regional thrust faulted contact
between the mafic and ultramafic units (Figure 1).
-- The drilling program also included 1 drillhole at the Krona
Prospect to test the electromagnetic ("EM") conductor recently
identified beneath the nickel gossan (AIM: THR 17 June 2022). This
hole has been cased in preparation for a Downhole Electromagnetic
Survey (DHEM).
-- Assays have been expedited to a laboratory in South
Australia, with results anticipated in August - September 2022.
Photo Plate1 : may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/maps/krona-dhem-casing.jpg
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"Thor has successfully completed its second phase of drilling at
the Sterling prospect, testing several exciting structural targets
associated with complex faulting and folding along the 13km gold
corridor. We were pleased to also drill test the Krona
nickel-copper Fixed Loop Electromagnetic target as part of this
drilling program.
We now eagerly await assay results and look forward to updating
the market as results come through."
Figure 1: Sterling and Krona prospects highlighting completed
drilling traverses may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/maps/rr_comprc.png
The Ragged Range Project, located in the prospective Eastern
Pilbara Craton, Western Australia, is 100% owned by Thor Mining and
comprises E46/1190, E46/1262, E46/1355, E46/1340 and the recently
granted E46/1393 (Figure 2 and Figure 3).
Figure 2 : Tenement & Prospect Location Plan may be viewed
via the following link:
http://www.thormining.com/sites/thormining/media/maps/20-004-1b-ragged-range-location.jpg
Figure 3: Ragged Range Tenement Location Plan showing Sterling,
Krona and Kelly's prospects may be viewed via the following
link:
http://www.thormining.com/sites/thormining/media/maps/20-004-4e-ragged-range-greatland-highlights.jpg
RC Drilling Program
STERLING PROSPECT
48 drillholes totalling 3,120m were drilled along the Sterling
Prospect 13km structural gold corridor, with drill holes generally
angled 60 degrees toward the west, near perpendicular to the
structural controls of the dominant faulted contact between the
Euro Basalt and the Dalton Suite ultramafics (Figure 1). Drill
depths range from approximately 60-170m.
This second phase of drilling tested interpreted dilational
zones (potential trap sites for mineralisation and the potential
source of the gold anomalies found in stream and soil samples).
Surface anomalism is associated with a series of faults and folds,
subparallel or at a high angle to the regional thrust faulted
contact (Norman Cairns Fault) between the Euro Basalt and the
Dalton Suite ultramafics along the Sterling Prospect 13km gold
corridor (Figure 1 and 3).
KRONA PROPSECT
As part of the drilling program, one drill hole was drilled into
the Fixed Loop Electromagnetic ("FLEM") conductor identified below
the nickel gossan at Krona Prospect, Figure 1 (AIM: THR 17 June
2022). This hole has been cased in preparation for DHEM survey.
DJC Drilling Pty Ltd completed drilling program. Drill samples
are being freighted to Bureau Veritas laboratory in Adelaide, SA,
for analysis with assay results anticipated in August.
Photo Plate 2: Drilling operation showing DJC rig and sample
layout may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/maps/img_1404.jpeg
Sterling Prospect
Since acquiring the Ragged Range project in late 2019, Thor has
completed a series of systematic stream sediment programs over the
tenure and an airborne magnetic survey, defining a 13km
structurally controlled gold corridor - the Sterling Prospect
(Figure 2). High-grade gold stream results, including up to 2.2g/t
Au, were reported from sampling in 2019 and 2020 (AIM: THR 23 June
2021).
https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210623-ragged-range-exploration-update.pdf
As a follow up, two soil programs were completed over Sterling
Central and Sterling South areas with BLEG soil values up to 348ppb
and 153ppb Au (21RRS777 and 21RRS437 respectively), significantly
above a background of approximately 5ppb Au (Figure 3 and Figure
4). To validate these high gold soil anomalies, a <2mm sieved
stream panned concentrate with visible gold, reported up to 74.1g/t
Au (Samples 21RRST016) approximately 100m down slope, in a small
creek from soil sample 21RRS777 (AIM: THR 7 October 2021).
https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20211007-asx-ragged-range-infill-soil-results-.pdf
The surface gold anomalism generally strikes slightly oblique to
the Euro Basalt and Dalton Suite contact suggesting that gold
mineralisation is controlled by faults and structures that splay
off this major structure.
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 USA and Australia.
Its focus is on progressing its copper, gold, uranium and vanadium
projects, while seeking investment/JV opportunities to develop its
tungsten 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.
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.
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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