THR Thor Energy Plc

 

TIDMTHR 
 
RNS Number : 1122R 
Thor Mining PLC 
16 August 2010 
 

                                THOR MINING PLC 
 
                 THOR INCREASES INTEREST IN DUNDAS GOLD PROJECT 
 
Dated: 16 August 2010 
 
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) the 
exploration company focussed on gold and base metal projects and advancing 
tungsten-molybdenum projects in Australia, advise that pursuant to a sale and 
purchase agreement between the Thor wholly owned subsidiary, TM Gold Pty Ltd., 
and the Vendors of the Dundas Project in the Albany Fraser Belt, Western 
Australia that the Company has exercised the Stage One Option to acquire an 
additional 9% interest in the tenements. 
 
This acquisition takes the Company interest in the Tenements to 60%. Thor holds 
options to increase this interest to 100%. 
 
Consideration for the purchase of the additional 9% legal and beneficial 
interest in each of the Tenementsis the issue of 45,000,000 new CDI's to the 
Vendors and the Agents which was approved by a vote of all shareholders at the 
General Meeting held on 22 July, 2010. 
 
Dundas exploration program 
Results from an initial calcrete survey at Dundas show clusters of elevated gold 
values which have identified five previously unknown areas of gold anomaly in 
addition to the target area identified by previous exploration. Each of these 
warrants systematic follow-up sampling. 
 
It is proposed that further calcrete sampling program will commence as soon as 
practicable, both to broaden the coverage and to add detail around newly 
identified anomalies.  Concurrently, Thor is preparing permitting for an initial 
rotary air blast drilling program to be scheduled as soon as practicable. 
 
About the Dundas Project 
The Dundas Project is situated in Western Australia within the Albany-Fraser 
Province.  The project Tenements lie on the general strike-extension of the most 
prolific gold-bearing belt of the Yilgarn Province - the 700km 
Wiluna-Kalgoorlie-Norseman greenstone belt, in an area where the trend of the 
Albany-Fraser belt is displaced south eastwards by about 50k.  The Albany-Fraser 
belt hosts a number of recent gold discoveries including the +5 million ounce 
Tropicana gold deposit, and other discoveries including Beachcomber, Socrates, 
Corvette, and Corona. 
 
Competent Persons Statement 
The information in this report that relates to exploration results, mineral 
resources or ore reserves is based on information compiled by Stuart Till, who 
is a Member of The Australasian Institute of Mining and Metallurgy. The services 
of Stuart Till are engaged by Thor on a contractual basis.  Stuart Till 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 2004 Edition of the 
'Australasian Code for Reporting of Exploration Results, Mineral Resources and 
Ore Reserves'.  Stuart Till consents to the inclusion in the report of the 
matters based on his information in the form and context in which it appears. 
 
Enquiries: 
 
+----------+-------------+-----------------+----------------+ 
| Mick     | + 61 (0)414 | Thor Mining PLC |      Executive | 
| Billing  | 741 007     |                 |       Chairman | 
|          |             |                 |                | 
+----------+-------------+-----------------+----------------+ 
| Laurie   | +61 (0) 8   | Thor Mining PLC |    CFO/Company | 
| Ackroyd  | 8177 8800   |                 |      Secretary | 
|          |             |                 |                | 
+----------+-------------+-----------------+----------------+ 
| John     | + 44 (0)20  | Daniel Stewart  |      Nominated | 
| Simpson  | 7776 6550   | & Company Plc   |        Adviser | 
|          |             |                 |                | 
+----------+-------------+-----------------+----------------+ 
 
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. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQKMGMRNVZGGZG 
 

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