TIDMTHR
RNS Number : 0045U
Thor Mining PLC
28 July 2022
28 July 2022
Thor Mining PLC
("Thor" or the "Company")
Molyhil Project, Northern Territory
Molyhil Extension Drilling Update
The Directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce the drill results of the diamond
drilling program at the 100% owned Molyhil Critical Minerals
Project, Northern Territory.
Project highlights:
-- Two of three diamond drillholes completed in late 2021
intercepted disseminated scheelite-molybdenite-chalcopyrite
mineralisation hosted in a massive magnetite skarn, validating a
newly identified 3D magnetic target. The drilling demonstrates that
tungsten-molybdenum-copper skarn mineralisation extends along
strike, to the south of the Molyhil Resource.
-- Assay results were lower than visible grade estimates and
this resulted in the samples being resubmitted for analysis using
two different analytical techniques, with further follow up using
the coarse reject material.
-- 21MHDD002:
o 46m @ 0.06% WO(3) , 0.05% Mo & 0.04% Cu from 249m,
-- including 11m @ 0.05% WO(3) , 0.13% Mo & 0.06 % Cu from
272m
-- 21MHDD003:
o 4m @ 0.13% WO(3) , 0.08% Mo & 0.06% Cu from 255m
-- Analytical analyses of the tungsten and molybdenum is
significantly impacted by the coarse nature of the scheelite
crystals in half core, combined with the malleable nature of the
molybdenite when pulverised; thus, sample size is critical to the
representivity of assay grades.
-- Extrapolation of the 3D model along strike has identified
further high-priority drill targets
The Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves (the "JORC Code") table is set
out at the end of this announcement.
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"Although we were disappointed by the assay results, the
presence of a 46m intersection of magnetite skarn and weakly
disseminated tungsten-molybdenum-copper mineralisation is very
encouraging. Exploring for this style of mineralisation is
difficult without the presence of significant amounts of magnetite
that can be easily defined in magnetic surveys. Other magnetic
targets along strike show the potential for further mineralisation
at Molyhil."
Diamond Drilling Program
Three diamond drillholes (21MHDD001, 21MHDD002, 21MHDD003)
totalling 995.4m, completed in late 2021, have successfully tested
and confirmed the newly identified 3D magnetic target located along
strike to the south of the Molyhil Critical Minerals Project. This
magnetic target represents a massive magnetite skarn hosting
disseminated tungsten-molybdenum-copper mineralisation (Table A,
Table B, Table C, Figure 1 and 2).
Both 21MHDD002 and 21MHDD003 intercepted disseminated
mineralisation, consisting of scheelite-molybdenite and
chalcopyrite within massive magnetite skarn. Drillhole 21MHDD002
intercepted 46m of disseminated mineralisation (Photo 1 and 2),
whilst 21MHDD003 intercepted two zones of disseminated
mineralisation over 29m of magnetite skarn . It appears 21MHDD001
intersected the edges of the magnetite skarn drilling over the top
into a granite, with negligible mineralisation.
21MHDD002:
-- 46m @ 0.06% WO(3) , 0.05% Mo & 0.04% Cu from 249m,
-- including 11m @ 0.05% WO(3) , 0.13% Mo & 0.06 % Cu from
272m
21MHDD003:
-- 4m @ 0.13% WO(3) , 0.08% Mo & 0.06% Cu from 255m
Visible grade estimations were significantly higher than
compared with assays, thus resulting in the samples being
resubmitted for analysis using two different analytical techniques
(Lithium Borate Fusion with ICP-MS finish and XRF Fusion), with
further follow up using the coarse reject material (Photos 1 and
2). Analytical analysis of the tungsten and molybdenum is
significantly impacted by the coarse nature of the scheelite
crystals in half core, combined with the malleable nature of the
molybdenite when pulverised; hence sample size is critical to the
representivity of assay grades (bulk sampling is optimal for
scheelite).
The Directors believe further work on the tungsten - molybdenum
- copper relationship and grade distribution is warranted.
The drilling program was co-funded by the Geophysics and
Drilling Collaborations (GDC) program as part of the Resourcing the
Territory initiative, with Thor Mining granted A$110,000 (RNS: THR
4 June 2021).
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf
Photo 1: 21MHDD02- 282-283m (282.4m) - 1m @ 0.02% WO(3) , 0.23%
Mo & 0.07% Cu - coarse grained visible molybdenite in magnetite
skarn
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf
Photo 2: 21MHDD002: 293-294m (293.8m) - 1m @ 0.03% WO(3) , 0.04%
Mo and 0.06% Cu - significant visible molybdenite and chalcopyrite
visible throughout intercept, contrasting to assays
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf
Figure 1 (Left): Plan view, looking down at the conceptual pit
shell (brown), with the 0.3% WO(3) isosurface in blue, 0.15% Mo
isosurface in silver, and modelled 3D magnetics in transparent red.
The yellow dashed line shows the location of the long section
(right). Interpreted mineralisation model shown in yellow.
21MHDD001, 21MHDD002 and 21MHDD003 hole traces.
Figure 1 (Right): Long section of the Molyhil project looking
west-northwest, showing the three holes drilled in 2021 (21MHDD001,
21MHDD002 21MHDD003). Drilled holes 21MHDD002 and 21MHDD003
intercepted tungsten-molybdenum-copper mineralisation within
magnetite skarn, whilst 21MHDD001 is interpreted to have drilled
just over the top of the mineralised zone. Bar graph to the left of
the drillholes shows Fe in magnetic susceptibility readings,
indicating magnetite-rich skarn. Mineralisation remains open at
depth. The conceptual pit shell is shown in brown, 0.3% WO(3)
isosurface in blue, 0.15% Mo isosurface in silver, and modelled 3D
magnetics in red (0.175 SI), and as a transparent red envelope
(0.15 SI) and a conceptual shape representing the down-plunge
mineralised zone in yellow.
NEXT STEP:
The newly discovered extension of the
tungsten-molybdenum-chalcopyrite mineralisation to the south of the
Molyhil deposit has validated the successful 3D modelling of the
geology, magnetics and mineralisation.
This 3D modelling has identified further high priority targets
for drill testing along strike (Figure 2).
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf
Figure 2: 3D modelling of magnetics (transparent red) highlights
Molyhil deposit and the recently drilled southeast plunging
extension, plus drill targets along strike.
Project Background
The Molyhil deposit is located 220km north-east of Alice Springs
(320km by road) within the prospective polymetallic province of the
Proterozoic Eastern Arunta Block, in the Northern Territory (Figure
4).
In April 2021 (AIM: THR 8 April 2021) a revised Mineral Resource
Estimate comprising Measured, Indicated, and Inferred Mineral
Resources, totalling 4.4 million tonnes at 0.27% WO(3) (Tungsten
trioxide), 0.10% Mo (Molybdenum), and 0.05% Cu (Copper) using a
0.07% WO(3) cut-off.
https://www.londonstockexchange.com/news-article/THR/mineral-resource-estimate-updated/14928598
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf
Figure 3: Tenement & Prospect Location Plan
Table A: Drill Hole Collar Summary
End of
DRILLHOLE EASTING NORTHING ELEVATION AZIMUTH DIP Hole
21MHDD001 577207 7482773 409 262 60 324.5
-------- --------- ---------- -------- ---- -------
21MHDD002 577220 7482774 409 278 60 334.2
-------- --------- ---------- -------- ---- -------
21MHDD003 577069 7482780 412 082 87 336.7
-------- --------- ---------- -------- ---- -------
Notes: Coordinates in GDA 94 Zone 53, as previously announced
AIM 7 Dec 2021
Table B: Geology
DRILLHOLE GEOLOGY FROM (M) TO (M) DOWNHOLE INTERCEPT
(M)
21MHDD001 Calc-Silicate 159.1 255.8 96.7
----------------- --------- ------- -------------------
21MHDD002 Magnetite Skarn 244 297 47
----------------- --------- ------- -------------------
21MHDD003 Magnetite Skarn 255 259 4
----------------- --------- ------- -------------------
21MHDD003 Magnetite Skarn 274.5 283.5 9
----------------- --------- ------- -------------------
Notes: as previously announced AIM 7 Dec 2021
Table C: Drill Intercepts - 21MHDD002 and MHDD03
DRILLHOLE FROM TO Intercept
(M) (M) (M)
-----
Lithium Borate XRF Fusion
Fusion with ICP-AES/MS
----- ----- ----------
(LB102/ MA101/102) (XF300)
----- ----- ---------- ---------------------------- --------------------
WO(3) Mo % Cu % WO(3) Mo % Cu %
% %
----- ----- ---------- ---------- ------- ------- ------ ----- -----
21MHDD002 249 295 46 0.06 0.05 0.04 0.06 0.04 0.04
----- ----- ---------- ---------- ------- ------- ------ ----- -----
Including 272 283 11 0.05 0.13 0.06 0.05 0.12 0.05
----- ----- ---------- ---------- ------- ------- ------ ----- -----
21MHDD003 255 259 4 0.13 0.08 0.06 0.13 0.10 0.05
----- ----- ---------- ---------- ------- ------- ------ ----- -----
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
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
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
1 JORC Code, 2012 Edition - Table 1 report template
1.1 Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
------------- ------------------------------------------------------------ -------------------------------------------------------------
Sampling -- Nature and quality of sampling -- Drilling was conducted
techniques (eg cut channels, random chips, by Durock Drilling Pty Ltd
or specific specialised industry * pXRF taken every 0.5m down hole. Vanta C Series
standard measurement tools 800427 XRF -40sec reading time. Instrument calibrated
appropriate to the minerals externally annually and with QA/QC at start prior to
under investigation, such as sampling and calibration disc every 30 readings
down hole gamma sondes, or
handheld XRF instruments, etc).
These examples should not be -- Magnetic susceptibility
taken as limiting the broad recorded every 1m down hole
meaning of sampling. -- UV light used for tungsten/scheelite
-- Include reference to measures visual estimates
taken to ensure sample representivity * Diamond drilling program with half core sampled for
and the appropriate calibration
of any measurement tools or
systems used. o Au fire assay FA001
-- Aspects of the determination o Tungsten - Lithium Borate
of mineralisation that are Fusion with ICP-AES/MS finish
Material to the Public Report. (LB101/102) with mixed digest
-- In cases where 'industry for molybdenum and copper
standard' work has been done plus full element package
this would be relatively simple o Tungsten, Molybdenum and
(eg 'reverse circulation drilling copper - XRF Fusion (XF300)
was used to obtain 1 m samples * Samples submitted to Bureau Veritas (BV), SA.
from which 3 kg was pulverised Standard blank and duplicate inserted every 25
to produce a 30 g charge for samples
fire assay'). In other cases
more explanation may be required,
such as where there is coarse * All co-ordinates are in UTM grid (GDA94 Z53) and
gold that has inherent sampling drill hole collars have been surveyed by DGPS to an
problems. Unusual commodities accuracy of 0.1m. Down holes surveys using Gyro every
or mineralisation types (eg 6m.
submarine nodules) may warrant
disclosure of detailed information.
* Diamond samples were collected at geologically
defined intervals (minimum sample length 0.1m,
maximum sample length 1.5m) for all drill holes in
the current program Samples are cut using an
automated diamond saw and half core is submitted for
analysis at Bureau Veritas, SA. The sample size is
deemed appropriate for the grain size of the material
being sampled.
* Mineralisation is determined by descriptive
geological logs for diamond hole as well as the
incorporation of assay results and pXRF readings
------------------------------------------------------------ -------------------------------------------------------------
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Diamond drilling
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or * 21MH001 - HQ 0-20m followed by NQ2
other type, whether core is oriented and if so, by
what method, etc).
* 21MHDD02 - HQ
* 21MHDD003 - HQ
* Oriented core
------------------------------------------------------------ -------------------------------------------------------------
Drill
sample * Method of recording and assessing core and chip * Recovery from diamond core was recorded for all core
recovery sample recoveries and results assessed. runs, with overall recovery very good. All diamond
core was oriented where possible.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Diamond core was reconstructed into continuous runs
for orientation marking with depths checked against
core blocks.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse * No relationship was noted between recorded sample
material. recovery and grade.
------------------------------------------------------------ -------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * All holes were field logged by company geologists to
and geotechnically logged to a level of detail to a high level of detail.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Core was oriented and routinely logged for RQD,
alpha/beta angles, dips, azimuths, and true dips.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
* All drill samples were logged for lithology, rock
type, colour, mineralisation, alteration, and
* The total length and percentage of the relevant texture. It has been standard practice by Thor (since
intersections logged. 2005), that all diamond core be routinely
photographed.
* All drill holes were logged in full.
------------------------------------------------------------ -------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * Diamond core to cut in half using a core saw with
and sample half or all core taken. half core submitted for assay.
preparation
* If non-core, whether riffled, tube sampled, rotary * Sampling is carried out using standard protocols and
split, etc and whether sampled wet or dry. QAQC procedures as per industry practice.
* For all sample types, the nature, quality and Field QAQC procedures involved
appropriateness of the sample preparation technique. the use of certified standards,
blanks and duplicate sample
submitted every 25 samples.
* Quality control procedures adopted for all These are routinely checked
sub-sampling stages to maximise representivity of against originals.
samples. Based on visual estimates
for tungsten, molybdenum
and chalcopyrite being higher
* Measures taken to ensure that the sampling is than initial assay results
representative of the in situ material collected, (using Lithium Borate Fusion
including for instance results for field with ICP_MS finish and mixed
duplicate/second-half sampling. digest), sample pulps were
re-assayed using alternative
analysis (XRF Fusion). Selected
* Whether sample sizes are appropriate to the grain intercepts were repeated
size of the material being sampled. using coarse reject.
------------------------------------------------------------ -------------------------------------------------------------
Quality
of assay * The nature, quality and appropriateness of the * Magnetic susceptibility recorded every 1.0m down
data and assaying and laboratory procedures used and whether hole.
laboratory the technique is considered partial or total.
tests
* pXRF recording recorded every 1.0m down hole.
* For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining
the analysis including instrument make and model, * Diamond core sampled through potential Magnetite
reading times, calibrations factors applied and their skarn tungsten, molybdenite and copper zones.
derivation, etc.Ba, Mo
* Samples submitted to Bureau Veritas for
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie o 50g fire assay for Au
lack of bias) and precision have been established. o XRF Fusion (XF300)- fused
with Lithium Borate Flux
and 15% NaNO(3) for WO(3)
, Mo & Cu
o Lithium Borate Fusion
(LB102) with ICP-MS finish
for WO(3) with mixed digest
with ICP_MS finish for Mo
& Cu (MA0102) and full element
package
* Internal certified laboratory QAQC is undertaken
including check samples, blanks and internal
standards
------------------------------------------------------------ -------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * All drilling data is collected in a series of
and assaying either independent or alternative company personnel. templates in excel including geological logging,
sample information, collar and survey information,
* The use of twinned holes.
* All data is validated and imported into hosted
database
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and
electronic) protocols. * No adjustments have been made to the assay data.
* Discuss any adjustment to assay data. * All significant intersections have been verified by
an alternative company geologist.
* There are no twinned drillholes
------------------------------------------------------------ -------------------------------------------------------------
Location
of data * Accuracy and quality of surveys used to locate drill * Drill hole collars and starting azimuths have been
points holes (collar and down-hole surveys), trenches, mine surveyed using GPS (-/+ 5m) - for later DGPS pick ups
workings and other locations used in Mineral Resource
estimation.
* Drill hole locations were positioned using the MGA
Grid System.
* Specification of the grid system used.
* The topographic surface is highly accurate with DPG
* Quality and adequacy of topographic control. (-/+1m)
------------------------------------------------------------ -------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Drill holes have been located to test a newly defined
distribution magnetic target to the south of the Molyhil lodes.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * Drillhole spacing is sufficient to test geological
grade continuity appropriate for the Mineral Resource target
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
------------------------------------------------------------ -------------------------------------------------------------
Orientation
of data * Whether the orientation of sampling achieves unbiased * Drill holes are orientated / predominantly drilled at
in relation sampling of possible structures and the extent to an angle of -60deg to the west which is approximately
to which this is known, considering the deposit type. perpendicular to the orientation of the interpreted
geological target.
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
security * The measures taken to ensure sample security. * Core was cut at company core yard located in Alice
Springs and freighted to Adelaide for submission to
Bureau veritas, Adelaide for analysis
* All submissions with chain of custody measures
implemented.
------------------------------------------------------------ -------------------------------------------------------------
Audits
or reviews * The results of any audits or reviews of sampling * A review of sampling techniques and data has been
techniques and data. carried out as Thor transition from inhouse based
database to online hosted database with MaxGeo.
------------------------------------------------------------ -------------------------------------------------------------
Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
--------------- --------------------------------------------------------------- -------------------------------------------------------------
Mineral
tenement * Type, reference name/number, location and ownership * The tenements at Molyhil comprise EL22349, ML23825,
and land including agreements or material issues with third ML24429 and ML25721. For all tenements Thor Mining
tenure parties such as joint ventures, partnerships, PLC hold 100% Project Equity.
status overriding royalties, native title interests,
historical sites, wilderness or national park and
environmental settings. * Thor has completed the Public Environmental Report
for the Molyhil Tungsten and Molybdenum Project. This
report has been accepted by the Department of
* The security of the tenure held at the time of Regional Development, Primary Industry, Fisheries and
reporting along with any known impediments to Resources in the Northern Territory
obtaining a licence to operate in the area.
* This report was approved on the 15th July 2007 by the
DRDPIFR (NT), who also confirmed in December 2011
that the approval remains current. The report is
available on request.
* Approved MMP for drilling was acquired- 2021
* Thor Mining PLC has also obtained all the required
agreements between the Traditional Owners of the land
,
and Thor Mining PLC, to enable the Molyhil Operations
to proceed with the recognition and support of the
Traditional Owners.
* The Tripartite Deed records the terms of the
Agreement between the parties in accordance with the
Native Title Act and is between the Arrapere People,
the Central Land Council and Thor Mining PLC.
* There are no known impediments to obtaining a licence
to operate in the area.
--------------------------------------------------------------- -------------------------------------------------------------
Exploration
done by * Acknowledgment and appraisal of exploration by other * Tungsten and molybdenum mineralisation was originally
other parties parties. discovered at Molyhil in 1973. The Molyhil deposit
was initially drilled in 1977 with further drilling
carried out in 1981. The work was carried out by Fama
Mines Pty Ltd, Petrocarb NL, Nicron resources NL and
Geopeko. Between 1975 and 1976 approximately 20kt of
molybdenum and tungsten mineralisation were mined
from the northern Yacht Club skarn body to a depth of
approximately 25m.
--------------------------------------------------------------- -------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * The Molyhil deposit consists of two adjacent
mineralisation. outcropping iron rich skarn bodies, marginal to a
granite intrusion, that contain scheelite (tungsten
mineralisation as CaWO(4) ) and molybdenite
(molybdenum as MoS(2) ) mineralogy. Both the outlines
of, and the banding within, the skarn bodies strike
approximately north-south and dip steeply to the
east. The bodies are arranged in an en échelon
manner, the northeast body being named the Yacht Club
and the southwest body the Southern.
--------------------------------------------------------------- -------------------------------------------------------------
Drill hole
Information * A summary of all information material to the * A collar summary table is included in report
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes: * In the opinion of Thor, historic drill results have
been adequately reported previously to the market as
required under the reporting requirements of the ASX
o easting and northing of the Listing Rules
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
aggregation * In reporting Exploration Results, weighting averaging * A weighted average was used to report drill
methods techniques, maximum and/or minimum grade truncations intercepts - all 1m intercepts.
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
* No metal equivalent reported
* 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 * These relationships are particularly important in the * Drill holes were orientated predominantly to an
mineralisation reporting of Exploration Results. azimuth of 270deg and angled to a dip of -60deg,
widths which is approximately perpendicular to the
and intercept orientation of the mineralised trends.
lengths * 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 (eg 'down hole length, true width not known').
--------------------------------------------------------------- -------------------------------------------------------------
Diagrams
* Appropriate maps and sections (with scales) and * Location, section and plans included in report.
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 * Where comprehensive reporting of all Exploration * Exploration results for all 3 drillholes in newly
Results is not practicable, representative reporting identifies extension are reported.
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
--------------------------------------------------------------- -------------------------------------------------------------
Other
substantive * Other exploration data, if meaningful and material, * 3D geological and magnetic modelled data included in
exploration should be reported including (but not limited to): report.
data 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 * The nature and scale of planned further work (eg * Based on revised modelling of data additional
tests for lateral extensions or depth extensions or drilling is planned.
large-scale step-out drilling).
* Possible extensions are shown on diagrams
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
--------------------------------------------------------------- -------------------------------------------------------------
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END
DRLEADXXAEEAEAA
(END) Dow Jones Newswires
July 28, 2022 02:00 ET (06:00 GMT)
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