TIDMTHR
RNS Number : 3448U
Thor Mining PLC
01 August 2022
1 August 2022
Thor Mining PLC
("Thor" or the "Company")
Ragged Range Project, WA
Airborne Magnetic and Radiometric Survey Commences
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce the commencement of a close spaced
airborne survey over the north-eastern portion of the Company's
100% owned Ragged Range Project, located in Eastern Pilbara,
Western Australia.
Project highlights:
-- High resolution close spaced airborne magnetics survey
commences over the north-eastern portion of tenure, covering
E46/1393 and E46/1340 (Figure 1). This survey will complement the
2021 survey to provide coverage over the entire Ragged Range
Project.
-- The airborne magnetic and radiometric survey is designed to
map out the key lithological boundaries, potential pegmatites and
prospective structures controlling mineralisation associated with
copper-gold mineralisation at Kelly's Prospect.
-- Following the completion of the airborne geophysical survey,
the next exploration step is to commence immediately; the
continuation of mapping and sampling in the lithium prospective
goldilocks zone, rock chip sampling of prospective structures at
the Kelly's Cu-Au Prospect and the design of drill sections to test
the Kelly's South gold zone.
Photo Plate1 : Thomson Fixed-Wing Airborne Magnetics Survey
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"This airborne survey will ensure full coverage of tenure with
high resolution, close spaced magnetics data, which is critical to
the understanding of lithological boundaries and structural
controls on mineralisation. This will allow Thor to focus on
further developing its geological models in this greenfield
area.
"The airborne survey will extend over the Kelly's copper-gold
prospect where we have recently highlighted, through rock chip
sampling, exciting copper and gold values along strike of the
historic copper workings."
Figure 1: Ragged Range Tenement Location Map showings proposed
airborne magnetics survey.
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).
The high resolution, close spaced airborne magnetics survey
covers the remaining north-eastern portion of the tenure, covering
E46/1393 and E46/1340 (Figure 1); now giving Thor full coverage of
the tenure with close spaced magnetics and radiometrics data
(Figure 1). The survey is being flown by Thomson Airborne Pty Ltd
and is anticipated to take 2 to 3 days to complete.
The airborne magnetics survey is designed to map out
lithological boundaries, potential pegmatites and prospective
structures controlling mineralisation. The copper and gold
mineralisation at the Kelly's Prospect is initially interpreted as
shear hosted mineralisation associated with the dacitic Boobina
Porphyry and the Euro Basalt (Figure 1).
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 / Antonio Bossi / 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
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