TIDMTHR
RNS Number : 9303S
Thor Mining PLC
11 November 2019
11 November 2019
THOR MINING PLC
PRELIMINARY DRILLING RESULTS AT WHITE VIOLET - BONYA PROJECT
The Board of Thor Mining Plc ("Thor") (AIM, ASX: THR) is pleased
to advise positive preliminary results from the second round of
drilling at the Bonya project White Violet deposit, adjacent to the
Company's 100% owned Molyhil project, in the Northern Territory of
Australia.
The Bonya project is held in joint venture between Arafura
Resources Limited (60%) and Thor (40%) with Thor acting as manager,
and each party contributing to the cost according to their
equity.
A total of 11 holes were drilled at White Violet to complete the
program for that deposit. The drill rig has now moved to the
Samarkand deposit for the 2(nd) part of the program.
The following results obtained via portable X-Ray Fluorescence
("XRF") determination should be considered preliminary and subject
to confirmation by subsequent geochemical analysis. The geochemical
analysis results may vary from those obtained from XRF.
Highlights:
-- 20 metres @ 0.24% WO(3) (tungsten tri-oxide) from 2 metres,
including 8 metres @ 0.38% Cu (copper) from 3 metres from hole
19RC034
-- 8 metres @ 0.24% WO(3) from 26 metres from hole 19RC035
-- 14metres @ 0.23% WO(3) from 65 metres and 8 metres @ 0.63% Cu
from 62 metres from hole 19RC037
-- 2 metres @ 0.71% WO(3) from 11 metres and 5 metres @ 0.33%
WO(3) from 17 metres from hole 19RC039
-- Tungsten-bearing mineralisation extended by 40 metres to both
the east and west with a total strike length of 120 metres and
vertical depth of 110 metres.
Mr Mick Billing, Executive Chairman, commented:
"It is very exciting to have confirmation of both consistency of
mineralisation and extensions to strike at the White Violet
deposit."
"Tungsten grades continue to be positive, and it is also
pleasing to see further evidence of copper mineralisation."
"The key Thor driver for drilling at Bonya is to add to the
Molyhil area mining inventory with an objective of a minimum of ten
years total open pit mining and processing. These results, subject
to assay and follow up resource work, should, we expect, go quite
some way towards meeting that objective."
Drilling has been completed at White Violet and is now in
progress at the Samarkand deposit. The White Violet preliminary XRF
results are summarised for each hole in Table A. Preliminary
results for Samarkand will be announced as they become
available.
Table A: Summary of White Violet preliminary XRF results
Hole Prospect East North Elev Azi Dip Depth Preliminary XRF Est
ID GDA94 GDA94 ASL (m) Intercept summary true
Zone53 Zone53 (m) width
(m)
20m @ 0.24% WO(3)
from 2m including
White 8m @ 0.38% Cu from 17m
19RC034 Violet 609,684 7,486,03 403 192 -45 51 3m 6m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
2m @ 0.11% WO(3)
from 136m and
2m @ 0.16% WO(3)
from 144m and 1.5m
White 1m @ 0.58% WO(3) 1.5m
19RC033 Violet 609,693 7,486,068 403 192 -70 178.2 from 156m 0.6m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
11m @ 0.19% WO(3)
from 1m and
4m @ 0.11% WO(3)
from 15m and 8m
White 8m @ 0.24% WO(3) 2.5m
19RC035 Violet 609,663 7,486,045 401 192 -50 81 from 26m 6m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
4m @ 0.52% WO(3)
from 51m and
11m @ 0.11%WO(3)
from 60m and
5m @0.15% WO(3)
from 85m and 2.5m
8m @ 0.33% WO(3) 7m
from 115m and 3m
White 3m @ 0.5% WO(3) 6m
19RC036 Violet 609,665 7,486,062 400 192 -65 138 from128m 2m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
14m @ 0.23% WO(3)
from 65m and
White 8m @ 0.63% Cu from 9m
19RC037 Violet 609,641 7,486,070 397 192 -65 96 62 m 5.5m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
White 18m @ 0.26% WO(3)
19RC042 Violet 609,710 7,486,033 406 192 -50 60 from 18m 15m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
3m @ 0.45% WO(3)
from 42m and
1m @ 0.62% WO3
from 50m and 2m
White 4m @ 0.23% WO(3) 0.5m
19RC038 Violet 609,713 7,486,047 406 192 -60 93 from 55m 2.5m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
2m @ 0.71% WO(3)
from 11m and
White 5m @ 0.33% WO(3) 1.5m
19RC039 Violet 609,732 7,486,026 409 192 -55 42 from 17m 3m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
1m @0.47% WO(3)
White and 2.2% Cu from
19RC040 Violet 609,757 7,486,026 409 192 -55 48 22m 0.5m
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
White
19RC041 Violet 609,782 7,486,031 408 192 -55 30 no significant intercept -
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
White
19RC043 Violet 609,640 7,486,069 397 192 -45 52 no significant intercept -
---------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining PLC Executive Chairman
1935
Ray Ridge +61 (8) 7324 Thor Mining PLC CFO/Company
1935 Secretary
Colin Aaronson/ +44 (0) 207 383 Grant Thornton UK Nominated Adviser
Richard Tonthat/ Ben 5100 LLP
Roberts
Nick Emerson +44 (0) 1483 SI Capital Ltd Joint Broker
Claire Louise Noyce 413 500 Hybridan LLP Joint Broker
/ +44 (0) 203 764
John Beresford-Peirse 2341
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.
Competent Persons Report
The information in this report that relates to exploration
results is based on information compiled by Richard Bradey, who
holds a BSc in applied geology and an MSc in natural resource
management and who is a Member of The Australasian Institute of
Mining and Metallurgy. Mr Bradey is an employee of Thor Mining PLC.
He has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he 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'. Richard Bradey consents to the inclusion in the report
of the matters based on his information in the form and context in
which it appears.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on
the AIM Market of the London Stock Exchange and on ASX in
Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the
Northern Territory of Australia, for which an updated feasibility
study in August 2018(1) suggested attractive returns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in
deposits of tungsten, copper, and vanadium, including an Inferred
resource for the Bonya copper deposit(2).
Thor also holds 100% of the Pilot Mountain tungsten project in
Nevada USA which has a JORC 2012 Indicated and Inferred Resources
Estimate(3) on 2 of the 4 known deposits. The US Department of the
Interior has confirmed that tungsten, the primary resource mineral
at Pilot Mountain, has been included in the final list of Critical
Minerals 2018.
Thor holds a 25% interest Australian copper development company
EnviroCopper Limited. EnviroCopper Limited 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 in South Australia recoverable by way of in situ
recovery; and
-- rights to earn up to 75% of the Moonta copper project, also
in South Australia comprising the northern portion of exploration
licence EL5984 and includes a resource estimate for several
deposits.
Thor has an interest in Hawkstone Mining Limited, an Australian
ASX listed company with a 100% Interest in a Lithium project with a
JORC compliant resource in Arizona, USA.
Finally, Thor also holds a production royalty entitlement from
the Spring Hill Gold project of:
-- A$6 per ounce of gold produced from the Spring Hill tenements
where the gold produced is sold for up to A$1,500 per ounce;
and
-- A$14 per ounce of gold produced from the Spring Hill
tenements where the gold produced is sold for amounts over A$1,500
per ounce.
Notes
(1) Refer ASX and AIM announcement of 23 August 2018
(2) Refer ASX and AIM announcement of 26 November 2018
(3) Refer AIM announcement of 13 December 2018 and ASX
announcement of 14 December 2018
Refer AIM announcement of 10 February 2016 and ASX announcement
of 12 February 2018
Refer ASX and AIM announcement of 15 August 2019
Refer AIM announcement of 26 February 2016 and ASX announcement
of 29 February 2016
JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
-------------------------------------------------------------
Sampling Reverse Circulation drilling
techniques * Nature and quality of sampling (eg cut channels, with face sampling hammer
random chips, or specific specialised industry was used to obtain one
standard measurement tools appropriate to the metre interval samples.
minerals under investigation, such as down hole gamma All samples were dry.
sondes, or handheld XRF instruments, etc). These Subsamples of approximately
examples should not be taken as limiting the broad 2-3kg were taken from each
meaning of sampling. interval using riffle splitter
for geochemical analysis.
XRF subsamples and Chip
* Include reference to measures taken to ensure sample tray samples were collected,
representivity and the appropriate calibration of any logged and photographed.
measurement tools or systems used.
Industry standard QAQC
protocol was adopted with
* Aspects of the determination of mineralisation that reference material inserted
are Material to the Public Report. every fifth sample.
* 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 Reverse circulation drilling
techniques * Drill type (e.g. core, reverse circulation, open-hole with face sampling hammer.
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (e.g. 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 Samples were weighed from
recovery * Method of recording and assessing core and chip a selection of holes to
sample recoveries and results assessed. gauge sample recovery.
Samples were consistently
within the range of 15
* Measures taken to maximise sample recovery and ensure to 20kg and consistent
representative nature of the samples. across different rock units.
* 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 Hole cuttings were logged
* Whether core and chip samples have been geologically geologically and photographed
and geotechnically logged to a level of detail to for the entire length of
support appropriate Mineral Resource estimation, each hole.
mining studies and metallurgical studies. Mineralised and unmineralised
zones were easily determined
from geological observations
* Whether logging is qualitative or quantitative in and XRF determination.
nature. Core (or costean, channel, etc) photography.
* The total length and percentage of the relevant
intersections logged.
------------------ ------------------------------------------------------------- -----------------------------------
Sub-sampling Subsamples for independent
techniques * If core, whether cut or sawn and whether quarter, laboratory analyses were
and sample half or all core taken. taken by riffle splitter.
preparation The majority of samples
were dry. Wet samples were
* If non-core, whether riffled, tube sampled, rotary noted in the logs.
split, etc and whether sampled wet or dry. Sample size of 2-3kg is
appropriate for RC samples
with a maximum particle
* For all sample types, the nature, quality and size of 6mm.
appropriateness of the sample preparation technique.
For preliminary XRF determination
not to be used for resource
* Quality control procedures adopted for all estimation - a further
sub-sampling stages to maximise representivity of subsample of 30g was taken
samples. which is not considered
truly representative.
* 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 Industry standard sample
of assay * The nature, quality and appropriateness of the preparation finishing with
data and assaying and laboratory procedures used and whether sample pulverisation to
laboratory the technique is considered partial or total. 80% passing 75um. with
tests assay by peroxide fusion
and ICP-MS. The technique
* For geophysical tools, spectrometers, handheld XRF is considered appropriate
instruments, etc, the parameters used in determining for the analyte suite.
the analysis including instrument make and model, Industry standard QA/QC
reading times, calibrations factors applied and their protocol is implemented
derivation, etc. in the assay process.
* 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 Significant intersections
of sampling * The verification of significant intersections by reported correspond with
and assaying either independent or alternative company personnel. visual indications in samples.
No further independent
verification has been undertaken.
* 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 All hole collar locations
of data * Accuracy and quality of surveys used to locate drill will be surveyed by licenced
points holes (collar and down-hole surveys), trenches, mine survey contractor for mineral
workings and other locations used in Mineral Resource resource estimation.
estimation. North seeking gyro will
be used for downhole survey.
Grid system used is GDA94,
* Specification of the grid system used. zone 53.
* Quality and adequacy of topographic control.
------------------ ------------------------------------------------------------- -----------------------------------
Data spacing Drill holes are spaced
and distribution * Data spacing for reporting of Exploration Results. at 40 metre centres on
25 metre spaced drill sections.
This spacing is considered
* Whether the data spacing and distribution is appropriate for resource
sufficient to establish the degree of geological and estimation in this style
grade continuity appropriate for the Mineral Resource of mineralisation.
and Ore Reserve estimation procedure(s) and Samples have not been composited.
classifications applied.
* Whether sample compositing has been applied.
------------------ ------------------------------------------------------------- -----------------------------------
Orientation Hole orientations are appropriate
of data * Whether the orientation of sampling achieves unbiased for the orientation of
in relation sampling of possible structures and the extent to target mineralised zones.
to geological which this is known, considering the deposit type. Estimated true widths are
structure stated.
* 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 The project is located
security * The measures taken to ensure sample security. in a remote region. No
unauthorised company personnel
visited the site during
operations. Assay samples
were collected from each
hole immediately after
drilling. Samples were
transported for safe storage
at a base camp before being
securely packaged for transport
to the laboratory. All
submitted assay samples
were receipted by the laboratory.
------------------ ------------------------------------------------------------- -----------------------------------
Audits None
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 The Bonya deposits are
and land tenure * Type, reference name/number, location and ownership located
status including agreements or material issues with third on EL29701 jointly held
parties such as joint ventures, partnerships, by Arafura Resource
overriding royalties, native title interests, Limited
historical sites, wilderness or national park and (60%) and Thor Mining
environmental settings. PLC
(40%) with Thor acting
as
* The security of the tenure held at the time of manager
reporting along with any known
EL29701 is a mature
exploration
impediments to obtaining a licence licence subject to
to operate in the area. ongoing
biennial renewal.
Exploration Previous drilling was
done by * Acknowledgment and appraisal of exploration by other undertaken
other parties parties. by Central Pacific
Minerals
NL in 1971 using open
hole
percussion with limited
success. There are no
complete
records of the historic
drilling.
Geology Contact metamorphic
* Deposit type, geological setting and style of skarn
mineralisation. hosted
scheelite.
Drill hole This information is
Information * A summary of all information material to the tabulated
understanding of the exploration results including a in detail within the
tabulation of the following information for all announcement
Material drill holes:
* easting and northing of the drill hole collar
* elevation or RL (Reduced Level - elevation above sea
level in metres) of the drill hole collar
* dip and azimuth of the hole
* down hole length and interception depth
* 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 Where sample intervals
methods * In reporting Exploration Results, weighting averaging vary,
techniques, maximum and/or minimum grade truncations reported average grades
(eg cutting of high grades) and cut-off grades are are length weighted. No
usually Material and should be stated. grades were cut
A 3-metre maximum waste
* Where aggregate intercepts incorporate short lengths width and cut-off grade
of high-grade results and longer lengths of low grade of 0.08% WO3 was used
results, the procedure used for such aggregation in
should be stated and some typical examples of such determining aggregated
aggregations should be shown in detail. mineralisation
intervals.
no high-grade intervals
* The assumptions used for any reporting of metal were highlighted.
equivalent values should be clearly No metal equivalents
were
reported.
stated.
Relationship Estimated true widths
between mineralisation * These relationships are particularly important in the are
widths and reporting of Exploration Results. provided for each
reported
interval.
* If the geometry of the mineralisation with respect to Mineralisation
the drill hole angle is known, its intercept angles are in
the order of 60
degrees.
Correction to true
widths
is in the order of 50
to
65% of drill widths.
------------------------ ----------------------------------------------------------------- -------------------------
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END
DRLZFLBFKFFXFBL
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