TIDMTHR
RNS Number : 9339Z
Thor Mining PLC
20 September 2022
20 September 2022
Thor Mining PLC
("Thor" or the "Company")
Off-hole Electromagnetic Conductor identified beneath Nickel
Gossan
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce that anomalous nickel assays results
from RC drilling have been returned and that an off-hole conductive
anomaly has been identified from a subsequent down-hole
electromagnetic geophysics survey at the Krona Prospect, within the
Company's 100% owned Ragged Range Project, located in the Eastern
Pilbara, Western Australia.
Project highlights:
-- The shallow conductor, identified from the recent
high-powered Fixed Loop Electromagnetics (FLEM) ground geophysics
survey beneath the nickel gossan at the Krona Prospect, was drill
tested with one RC drill hole, returning:
o 22RRRC045: 66m @ 0.19% nickel from 81m
-- The drill hole intersected the edge of the modelled FLEM conductor.
-- A down-hole electromagnetic (DHEM) geophysics survey was
completed and revealed an off-hole conductor 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.
22RRRC045 looking NE
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"I am encouraged that the down-hole geophysics survey at the
Krona Prospect, Ragged Range has identified an off-hole
electromagnetic conductor, and that the target is genuinely
anomalous for nickel with assay values above background
lithological values. This result warrants further drill testing to
confirm this understanding.
"We are currently designing a drilling program at the Kelly's
Prospect following up the high-grade gold in rock chips."
Next Steps
-- Samples have been submitted for assay of Platinum Group
Elements (PGEs).
-- Design follow-up drill holes to target the DHEM
conductor.
-- Awaiting drill assay from the recent Sterling Prospect RC
drilling program.
-- Commence the RC drilling program at the Kelly's Prospect,
following up on high-grade gold in rock chips (up to 15.5g/t Au)
(RNS: THR announcement 25 July 2022).
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)).
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
Figure 1: Tenement location map showing the gossan position,
Krona Prospect adjacent to Sterling Prospects 13km gold trend
Krona Prospect - Nickel Gossan
One RC drill hole of 174m was drilled to test the shallow (100m)
conductor identified by the high-powered Fixed Loop
Electromagnetics (FLEM) ground geophysics survey completed in June
2022 at the Krona Prospect. Due to the steep slopes around the
gossan, the closest achievable collar position was around 50m from
the SE corner of the plate and 130m from the plate's centre.
An intersection of 66m @ 0.19% Nickel from 81m was returned in
22RRRC045. Whilst the hole intersected the modelled EM plate, it
did not intersect massive or disseminated sulphides. It did however
intersect a graphitic shale from 60-72m down hole, but this did not
explain the source of the conductor as it was too shallow (50m
above the modelled plate).
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
Figure 2: FLEM survey showing EM conductor and location of RC
drill hole overlain on the 100K GSWA Geology.
To resolve the source of the conductor, the hole was cased and a
down-hole electromagnetic (DHEM) survey was completed by Vortex
Geophysics. This used a small 100m x 150m loop, oriented to couple
both with flat lying conductors, below the loop, and steeply
dipping conductors in the vicinity of the graphitic zone at 70m
down hole. The layout is shown in Figure 3.
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
Figure 3: EM conductor identified by FLEM survey and location of
RC drill hole trace overlain on the airphoto.
The DHEM identified a clear off-hole conductor at around 85m
down hole, with a modelled response of -42deg dip towards 312deg
azimuth and has a plunge of 14deg to the NE but appears to flatten
in places. The plunge is not well constrained and could be traded
off against a small shift in the modelled plate along strike.
The modelled plate and the down hole response for channel 11
(1.8695 m Sec) are shown in Figure 4. If the modelled plate is
extrapolated up dip it intersects the hole at a depth of around
30m, not at the graphitic intersection at 70m as one might expect
if that was the source of the conductor. The tenor of the EM
response does not suggest a massive nickel sulphide source or even
a strong conductor, but it may be networked sulphides which
warrants a drill hole to test it. The local geological regime is
interpreted to be a broad NE trending fault zone (Figure 5) with
the Krona gossan sitting above its hanging wall and the modelled
plate and graphite zone sitting closer to its footwall.
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
Figure 4: View from WNW showing the measured DHEM Ch11 response,
FLEM modelled plate (red) and DHEM modelled plate (black).
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
Figure 5: Plan view of the interpreted DHEM plate (yellow),
gossan outline (purple), DHEM loop and FLEM lines (blue), drill
hole and contours of Ch21 total field magnitude from the FLEM
overlain on a greyscale image of the AGC of the TMI.
Downhole Geochemistry
Lab assay data from sampling of 22RRRC045 was analysed in ioGAS
software. This verified that there were anomalous nickel assays
above the background range naturally expected in an ultramafic
lithology. In addition, the Fe vs Ni graph showed that iron was not
preferentially scavenging nickel (thus not producing false
anomalies), and there were zones of sequential negative correlation
downhole as shown in Figure 6.
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
Figure 6: All assay data from 22RRRC045, showing the anomalous
Ni assays above the normal range expected in ultramafic rocks. The
sequential negative correlation of Fe and Ni from 51-57m down hole
(green dots) and 80-99m down hole (blue dots) are shown, and the
red dots are the remainder of the anomalous Ni assays.
By using the 'real' nickel anomalies in Figure 6, significant
nickel intersections in 22RRRC045 are more accurately reported in
Table 1 and Figure 7.
Table 1: Significant intersections from the anomalous nickel
zone in Figure 6
From depth To Depth Interval Nickel (Ni)
Hole ID Intersection (m) (M) (m) %
22RRRC045 A 12 21 9 0.16
-------------- ----------- --------- --------- ------------
22RRRC045 B 38 59 21 0.13
-------------- ----------- --------- --------- ------------
22RRRC045 C 81 99 18 0.18
-------------- ----------- --------- --------- ------------
22RRRC045 D 108 129 21 0.21
-------------- ----------- --------- --------- ------------
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
Figure 7: Down-hole assay data from 22RRRC045, showing the
anomalous Ni assays in relation to the same red, green, blue and
black dots from Figure 6.
Table B - RC Drill hole collar details
Hole MGA94 MGA94 M Dip Azi (True Depth
ID E N ASL N) (m)
22RRRC045 782678 7580968 397 -53 303 174
------- -------- ----- ---- ---------- ------
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
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
1 JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling The programme comprised
techniques * Nature and quality of sampling (eg cut channels, rock chip sampling
random chips, or specific specialised industry based on geological
standard measurement tools appropriate to the outcrops, with
minerals under investigation, such as down hole gamma analysis for Au
sondes, or handheld XRF instruments, etc). These by 25g fire assay
examples should not be taken as limiting the broad FA001 and multi-element
meaning of sampling. by mixed acid digest
- ICP-AES MA101
and ICP-MS MA102
* Include reference to measures taken to ensure sample at Bureau Veritas
representivity and the appropriate calibration of any Minerals Laboratory
measurement tools or systems used. in Adelaide SA
* Aspects of the determination of mineralisation that
are Material to the Public Report.
* In cases where 'industry standard' work has been done
this would be relatively simple (eg 'reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay'). In other cases more
explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information.
==============================================================
Drilling Not applicable
techniques * Drill type (eg core, reverse circulation, open-hole - no drilling reported
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
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 No logging was
* Whether core and chip samples have been geologically undertaken.
and geotechnically logged to a level of detail to Lithological description
support appropriate Mineral Resource estimation, recorded for all
mining studies and metallurgical studies. samples collected
* 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 Samples were screened
techniques * If core, whether cut or sawn and whether quarter, in the field as
half or all core taken. described in "Sampling
Techniques" above.
The sample sizes
* If non-core, whether riffled, tube sampled, rotary are as per industry
split, etc and whether sampled wet or dry. standard for stream
* For all sample types, the nature, quality and
============== ============================================================== ===========================
Criteria JORC Code explanation Commentary
and sample appropriateness of the sample preparation sediment geochemistry.
preparation technique. Field duplicates
* Quality control procedures adopted for all and blank samples
sub-sampling stages to maximise representivity of were submitted for
samples. assay with the other
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 The proposed assay
of assay * The nature, quality and appropriateness of the method is appropriate
data and assaying and laboratory procedures used and whether for preliminary
laboratory the technique is considered partial or total. exploration.
tests
* For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc.
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
================== ============================================================== ===========================
Verification Not undertaken
of sampling * The verification of significant intersections by
and assaying either independent or alternative company personnel.
* The use of twinned holes.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
================== ============================================================== ===========================
Location Hand held GPS -
of data * Accuracy and quality of surveys used to locate drill MGA94 zone 50 (GDA)
points holes (collar and down-hole surveys), trenches, mine
workings and other locations used in Mineral Resource
estimation.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
================== ============================================================== ===========================
Data spacing Not applicable -
and distribution * Data spacing for reporting of Exploration Results. no resource is being
reported
* 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 Orientational bias
of data * Whether the orientation of sampling achieves unbiased is not applicable
in relation sampling of possible structures and the extent to to stream and rockchip
to geological which this is known, considering the deposit type. sampling at this
structure stage
* 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 Geochemistry samples
security * The measures taken to ensure sample security. were trucked back
from
Nullagine to the
Bureau Veritas Adelaide,
SA
Sample Security
levels are considered
appropriate for
preliminary surface
geochemistry assessment.
================== ============================================================== ===========================
Audits None undertaken
or reviews * The results of any audits or reviews of sampling
techniques and data.
================== ============================================================== ===========================
Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
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 E46/1190, E46/1262,
parties such as joint ventures, partnerships, E46/1393 in Western
overriding royalties, native title interests, Australia held 100%
historical sites, wilderness or national park and by Pilbara Goldfields
environmental settings. Pty Ltd, Thor Mining
PLC.
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
==============================================================
Exploration Sporadic surface
done by other * Acknowledgment and appraisal of exploration by other geochemistry over
parties parties. tenure carried out
by Great Southern
Mines up to 1997.
No previous lithium
exploration.
======================== ============================================================== ============================
Geology Yet to be determined
* Deposit type, geological setting and style of
mineralisation.
======================== ============================================================== ============================
Drill hole No drilling has
Information * 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 aggregation Only rock chip and
methods * In reporting Exploration Results, weighting averaging stream assays have
techniques, maximum and/or minimum grade truncations been reported. There
(eg cutting of high grades) and cut-off grades are has been no data
usually Material and should be stated. 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.
* assumptions used for any reporting of metal
equivalent
* The values should be clearly stated.
======================== ============================================================== ============================
Relationship No drilling has
between mineralisation * These relationships are particularly important in the been undertaken
widths and reporting of Exploration Results. or reported
intercept
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 A sample location
* Appropriate maps and sections (with scales) and plan including current
tabulations of intercepts should be included for any 1:100k scale geology
significant discovery being reported These should has been provided
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
======================== ============================================================== ============================
Balanced All results have
reporting * Where comprehensive reporting of all Exploration been reported
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 * Other exploration data, if meaningful and material, reported
data 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 (eg that follow up and
tests for lateral extensions or depth extensions or reconnaissance
large-scale step- out drilling). geochemistry
(rockchip, soil
& stream) and geological
* Diagrams clearly highlighting the areas of possible mapping will be
extensions, including the main geological undertaken over
interpretations and future drilling areas, provided tenure , including
this information is not commercially sensitive. Sterling and Kelly's
prospects.
======================== ============================================================== ============================
Criteria JORC Code explanation Commentary
Other substantive All data have
exploration data * Other exploration data, if meaningful and material, been 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 (eg that follow up
tests for lateral extensions or depth extensions or and reconnaissance
large-scale step- out drilling). geochemistry (rockchip,
soil & stream)
and geological
* Diagrams clearly highlighting the areas of possible mapping will be
extensions, including the main geological undertaken over
interpretations and future drilling areas, provided tuenure , including
this information is not commercially sensitive. Sterling and Kellys
prospects.
================== ============================================================== ==========================
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDBKCBQCBKDPCD
(END) Dow Jones Newswires
September 20, 2022 02:00 ET (06:00 GMT)
Thor Energy (LSE:THR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Thor Energy (LSE:THR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
