TIDMTHR
RNS Number : 3405W
Thor Energy PLC
17 April 2023
17 April 2023
Thor Energy Plc
("Thor" or the "Company")
Geophysics Delineates Structures that host Copper-Gold
Mineralisation
Alford West Copper-Gold Project, South Australia
The directors of Thor Energy Plc ("Thor" or the "Company") (AIM,
ASX: THR, OTCQB: THORF) are pleased to announce the results from
the Ambient Noise Tomography ("ANT") survey at the Alford West
Project, South Australia, by 30% owned EnviroCopper Limited
("ECL").
Highlights:
-- ANT survey using Exosphere by Fleet(R) successfully
delineates the weathered "trough" like structures that host oxide
copper-gold mineralisation within the Alford Copper Belt (Figure 1
- 4).
-- The subsurface ANT results will be integrated with historical
drilling data to generate a new drilling program, targeting
higher-grade oxide copper-gold mineralisation.
-- Future drilling will be focused on areas with low-density
contrast which have been shown to host oxidised copper
mineralisation, amenable to potential In-Situ Copper Recovery
("ISCR" ).
-- The geophysical survey was partially funded (up to A$30,000)
by the South Australian Government Accelerated Discovery Grant
("ADI") awarded to ECL.
Figure 1: 3D model showing the deeply weathered "trough"
structure, host to oxide copper-gold mineralisation in the Alford
Copper Belt.
Nicole Galloway Warland, Managing Director of Thor Energy,
commented:
"This low-impact ANT survey was extremely successful in
subsurface mapping, in particular delineating the weathered
"trough" structures which host the oxide copper-gold mineralisation
within the Alford Copper Belt; with further processing and
modelling, it will potentially highlight the higher-grade
mineralised zones within these structures.
"The use of the ExoSphere by Fleet (R) has enabled ECL to be
more efficient in exploration, minimising the environmental impact
and improving drilling targeting.
"We look forward to updating the market as the subsurface maps
are further refined with drill targets."
Figure 2: Alford West Project (ECL) Location Map (Left) and
Tenement Map (right) with Thor's Alford East Project.
Geophysics Survey
As part of its South Australian Government Accelerated Discovery
Initiative grant, ECL carried out an ANT survey over a portion of
the Alford West project using ExoSphere by Fleet(R) (Figure 1) .
This technology is a particularly low-impact form of exploration
and uses environmental vibrations in the ground, caused by ocean
waves, weather or traffic, to analyse the earth's make-up down to
2000m depth.
The technology uses compact, battery-powered smart sensors
called Geodes collecting raw data. It can pre-process that data and
deliver it directly via Fleet's satellite connectivity. This
technology means fewer drill holes, much lower environmental impact
and less time on the land, which fits with ECL's corporate
objectives of minimising the impact of recovering metals necessary
to aid the green energy transition.
The survey delineated the deep weathered "trough" like
structures in the survey area, that host the oxide copper-gold
mineralisation within the Alford Copper Belt (Figure 2- 4). With
further processing and modelling, it may be possible to highlight
mineralised zones within these structures.
The subsurface ANT results will be integrated with information
that has been historically gathered by traditional air core and
diamond drilling. This will result in drill targets with potential
for higher-grade oxide copper-gold mineralisation.
The speed and minimal impact of this technique compared with
traditional drilling mean that exploration impacts for landowners
are kept to an absolute minimum. ECL is currently combining the ANT
data with other forms of low-impact, remotely sensed data to
further improve the definition of these mineralised zones.
The ExoSphere program by Fleet Space Technologies consisted of
laying an array of 40 lightweight, battery-powered surface sensors
called Geodes over a paddock of 0.45km(2) to measure naturally
occurring environmental seismic vibrations in the ground (caused by
ocean waves, weather and traffic) in real-time over a 10-day period
(Photo Plate 1). The Geodes collect and deliver information in near
real-time to Fleet Space's satellite network.
Figure 3: Historic drillhole at Wombat Prospect highlighting the
deeply weathered "trough" structure hosting the oxide copper-gold
mineralisation.
Source: http://saemc.com.au/archive/2017/17drown.pdf
Photo Plate 1: Deploying sensors (Geodes) at Alford West, note
the minimum surface disturbance.
Accelerated Discovery Initiative ("ADI")
The ANT survey is partially funded (up to A$30,000) by the South
Australian Government Accelerated Discovery Grant (ADI) geophysics
grant, received by ECL in 2022.
The ADI aims to encourage innovation and collaboration to
advance exploration activities in South Australia. It provides a
government contribution towards exploration activities by
supporting the potential discovery of new mineral and groundwater
resources, while delivering a number of other economic and social
benefits to the State.
About EnviroCopper Limited ("ECL")
Thor holds a 30% interest in ECL, which is a public, unlisted
company, with In-Situ Recovery Copper projects at Kapunda and
Alford West , South Australia (Figure 1). ECL manage the Alford
West Project in a Joint Venture with the tenement holder Andromeda
to earn up to a 75% interest in the mineral rights over metals
recoverable via ISCR. (ASX/AIM announcement: 11 November 2020).
The Board of Thor Energy Plc has approved this announcement and
authorised its release.
For further information, please contact:
Thor Energy 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
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483
413 500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Shivantha Thambirajah Tel: +44 (0) 20 3004
/ Bessie Elliot 9512
Competent Person's 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 Energy 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 https://thorenergyplc.com which includes a facility
to register to receive these updates by email, and on the Company's
twitter page @thorenergyplc
About Thor Energy Plc
The Company is focused on uranium and energy metals that are
crucial in the shift to a 'green' energy economy. Thor has a number
of highly prospective projects that give shareholders exposure to
uranium, nickel, copper, lithium and gold. Our projects are located
in Australia and the USA.
Thor holds 100% interest in three uranium and vanadium projects
(Wedding Bell, Radium Mountain and Vanadium King) in the Uravan
Belt Colorado and Utah, USA with historical high-grade uranium and
vanadium drilling and production results.
Thor owns 100% of the Ragged Range Project, comprising 92 km2 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 oxide copper deposits considered amenable to extraction
via In Situ Recovery techniques (ISR). In January 2021, Thor
announced an Inferred Mineral Resource Estimate(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% 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. Thor
executed a $8m Farm-in and Funding Agreement with Investigator
Resources Limited (ASX: IVR) to accelerate exploration at the
Molyhil Project on 24th November 2022.(6)
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. Thor's interest in the
Bonya tenement EL29701 is planned to be divested as part of the
Farm-in and Funding agreement with Investigator Resources
Limited.(6)
Notes
(1)
https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/
(2)
www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(3)
www.thorenergyplc.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(4)
https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/
(5)
www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(6)
https://thorenergyplc.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf
1. 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling No new drilling or
techniques * Nature and quality of sampling (eg cut channels, surface sampling in
random chips, or specific specialised industry this release.
standard measurement tools appropriate to the -- THR is reporting
minerals under investigation, such as down hole gamma the results of an ambient
sondes, or handheld XRF instruments, etc). These noise tomography survey
examples should not be taken as limiting the broad conducted by EnviroCopper
meaning of sampling. Ltd. And Fleet Space
Technologies which
commenced on the 21
* Include reference to measures taken to ensure sample Feb 2023 and finished
representivity and the appropriate calibration of any on the 24 Feb 2023
measurement tools or systems used. -- The Ambient Noise
Tomography data was
acquired using Fleet
* Aspects of the determination of mineralisation that Space Technology Geodes.
are Material to the Public Report. -- The Geode specifications
are as follows:
- 1-component (vertical)
* In cases where 'industry standard' work has been done 2Hz geophones
this would be relatively simple (eg 'reverse - Sensitivity: 260
circulation drilling was used to obtain 1 m samples V/m/s
from which 3 kg was pulverised to produce a 30 g - Sampling rate: 20Hz
charge for fire assay'). In other cases more - Recording mode: continuous
explanation may be required, such as where there is - Preamplifier gain:
coarse gold that has inherent sampling problems. 32 (linear)
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information.
-------------------------------------------------------------- ---------------------------------------
Drilling Not applicable - No
techniques * Drill type (eg core, reverse circulation, open-hole 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 - No
recovery * Method of recording and assessing core and chip 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 Not applicable - No
* Whether core and chip samples have been geologically drilling reported
and geotechnically logged to a level of detail to
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* 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 Not applicable - No
techniques * If core, whether cut or sawn and whether quarter, drilling reported
and sample half or all core taken.
preparation
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
For all sample types, the nature,
quality and appropriateness of
the sample preparation technique.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
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.
-------------------------------------------------------------- ---------------------------------------
Criteria JORC Code explanation Commentary
-------------------------------------------------------------- ---------------------------------------
Quality No drilling reported.
of assay * The nature, quality and appropriateness of the EnviroCopper Ltd. and
data and assaying and laboratory procedures used and whether Fleet Space Technologies
laboratory the technique is considered partial or total. conducted the ANT survey.
tests -- The ANT data was
acquired using Fleet
* For geophysical tools, spectrometers, handheld XRF Space Technology Geodes
instruments, etc, the parameters used in determining -- The Geode specifications
the analysis including instrument make and model, are as follows:
reading times, calibrations factors applied and their - 1-component (vertical)
derivation, etc. 2Hz geophones
- Sensitivity: 260
V/m/s
* Nature of quality control procedures adopted (eg - Sampling rate: 20Hz
standards, blanks, duplicates, external laboratory - Recording mode: continuous
checks) and whether acceptable levels of accuracy (ie - Preamplifier gain:
lack of bias) and precision have been established. 32 (linear)
-------------------------------------------------------------- ---------------------------------------
Verification ANT - Data received
of sampling * The verification of significant intersections by is preliminary in nature
and assaying either independent or alternative company personnel. and is being reviewed
by Fleet Space Technologies.
* 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 No drilling reported
of data * Accuracy and quality of surveys used to locate drill * ANT - Data using a handheld GPS
points holes (collar and down-hole surveys), trenches, mine
workings and other locations used in Mineral Resource
estimation. * GDA94 Zone 53.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
-------------------------------------------------------------- ---------------------------------------
Data spacing ANT line spacing is
and * Data spacing for reporting of Exploration Results. appropriate for exploration
distribution purposes
* 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 ANT grid covers the
of data in * Whether the orientation of sampling achieves unbiased roughly East-West trending
relation sampling of possible structures and the extent to weathered zone.
to geological which this is known, considering the deposit type.
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 No sampling reported
security * The measures taken to ensure sample security.
-------------------------------------------------------------- ---------------------------------------
Audits or None undertaken
reviews * The results of any audits or reviews of sampling
techniques and data.
-------------------------------------------------------------- ---------------------------------------
Criteria JORC Code explanation Commentary
-------------------------------------------------------------- ---------------------------------------
Mineral Exploration results
tenement * Type, reference name/number, location and ownership are reported on EL
and land including agreements or material issues with third 5984 in South Australia
tenure status parties such as joint ventures, partnerships, held 100% by Penninsula
overriding royalties, native title interests, Resources Ltd. EnviroCopper
historical sites, wilderness or national park and Ltd is earning into
environmental settings. a joint venture on
the Alford West Project.
The tenement is secure
* The security of the tenure held at the time of under SA legislation
reporting along with any known impediments to and is in good standing.
obtaining a licence to operate in the area.
-------------------------------------------------------------- ---------------------------------------
Exploration Alford West is a mature
done by other * Acknowledgment and appraisal of exploration by other exploration with considerable
parties parties. work undertaken over
the years by several
groups including Red
Metals, Western Mining
and Adelaide Resources.
The area has been subject
to considerable historic
drilling including
RC, Diamond and Air
Core drilling programs
-------------------------------------------------------------- ---------------------------------------
Geology Primary deposits in
* Deposit type, geological setting and style of the region are considered
mineralisation. to be of Iron Oxide
Copper Gold (IOCG)
affinity, related to
the 1590Ma Hiltaba/GRV
event. Cu-Au-Mo-Pb
mineralisation is structurally
controlled and associated
with significant metasomatic
alteration and deep
weathering or kaolinisation
of host rocks.
-------------------------------------------------------------- ---------------------------------------
Drill hole No drilling has been
Information * A summary of all information material to the undertaken or reported
understanding of the exploration results including a
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 Only field observations
aggregate * In reporting Exploration Results, weighting averaging have been reported.
methods techniques, maximum and/or minimum grade truncations There has been no data
(eg cutting of high grades) and cut-off grades are aggregation.
usually Material and should be stated.
* 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 No drilling has been
between * These relationships are particularly important in the undertaken or reported
mineralisaton reporting of Exploration Results.
widths and
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 See body of report
* Appropriate maps and sections (with scales) and
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 ANT data is reported
reporting * Where comprehensive reporting of all Exploration for Alford West.
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 All data have been
substantive * Other exploration data, if meaningful and material, reported
exploration should be reported including (but not limited to):
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 It is anticipated that
work * The nature and scale of planned further work (eg the weathered zone
tests for lateral extensions or depth extensions or identified from the
large-scale step- out drilling). ANT survey will be
drill tested to evaluate
hydrogeological parameters.
* 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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