TIDMTHR
RNS Number : 3112Y
Thor Mining PLC
23 January 2014
23 January 2014
THOR MINING PLC
Gold Assays up by more than 50% in new Screen Fire Assays at
Spring Hill project in Northern Territory
Thor Mining PLC ("Thor") (AIM, ASX: THR) has achieved more than
a 50% increase in gold grades after higher level assay testing was
undertaken on ore samples from its Spring Hill gold project in
Australia's Northern Territory.
Thor completed a resource enhancement Reverse Circulation
drilling program at Spring Hill during 2013, and during late
December and early January this year, undertook a series of screen
fire assays following-on from the conventional gold assay testing
the results of which were announced in December 2013 and January
2014.
Over the full 34 samples submitted in the latest batch for
screen fire assaying, the upgrade averaged 57% more gold. The
samples were selected from conventional fire assay results below
2.0 grams/tonne (g/t). The first batch for screen fire assaying had
been from samples above 2.0 g/t Au.
These new results announced today represent an additional and
significant upgrade to the values already reported from the 2013
Spring Hill drilling.
Thor holds a 51% equity interest in Spring Hill, which is
located south of Darwin, and is exercising rights to increase its
interest to 80% from Western Desert Resources Limited (ASX:
WDR").
Mr Mick Billing, Executive Chairman of Thor Mining said:
"These additional results are very significant with the upgraded
values spread across all four zones of the Spring Hill resource
rather than one particular zone and If this trend can be confirmed,
then a substantial uplift in the value of the total Spring Hill
resource is probable.
The upgraded results from conventional screen fire assays
reported on 14th January, on assays of over 2.0 g/t, averaged a 37%
increase in grade. This latest upgrade on assays first assayed at
below 2.0 g/t, is 57%.
Subject to a further field program to confirm this trend, we
expect to find increases in the grade of the resource, the number
of contained ounces, and the proportion of the Spring Hill resource
which could be incorporated into an ore reserve and mining
plan."
Upgrades on sample ranges are as follows:
From To No Original Screen Upgrade % Upgrade
of Assay Average Fire Assay
Samples Average
g/t g/t g/t g/t g/t
----- ----- --------- --------------- ------------ -------- ----------
<0.5 2 0.39 0.33 -0.06 -15%
0.5 1.0 17 0.72 1.29 0.57 79%
1.0 1.5 9 1.26 1.85 0.59 47%
1.5 2.0 6 1.68 2.02 0.34 20%
Following Thor's report on January 14(th) 2014 of upgraded
screen fire assay results from 55 samples with fire assays results
greater than 2.0g/t, from the reverse circulation 2013 drilling
program, a further selection of samples with fire assays grading
below 2.0 g/t was selected for follow up screen fire assay. Of the
34 selected, 6 samples were either downgraded or returned the same
value, with the remaining 28 samples returning improved gold
values.
The Screen Fire Assay technique is different from fire assay in
that 1kg of material collected from the drill is analysed, as
opposed to a 30 gram sub-sample analysed by the fire assay
technique. This is particularly relevant where the occurrence of
gold is nuggetty and the presence or absence of individual gold
particles can significantly influence the fire assay result. The
analysis of 1kg of drill cuttings provides a more accurate estimate
of the gold content of the rock being sampled. Details of the
analytical technique are appended below.
A review of historical assays from drilling programs in the
early 1990's showed that of approximately 3,500 assays of
intersections with gold values greater than 0.5 g/t, only 156 were
subject to screen fire assays. Information in respect of any
upgrade from original fire assays is not available.
Enquiries:
Mick Billing +61 (8) 7324 1935 Thor Mining PLC Executive Chairman
Allan Burchard +61 (8) 7324 1935 Thor Mining PLC CFO/Company Secretary
Colin Aaronson/ David Hignell +44 (0) 207 383 5100 Grant Thornton UK LLP Nominated Adviser
Nick Emerson/ +44 (0) 1483 413500 SI Capital Limited Broker
Renato Rufus
Alex Walters +44 (0) 7771 713608 Cadogan PR Financial PR
+44 (0) 207 839 9260
Table 1: Round 2 Screen Fire Assay Summary Report.
Hole Nth East RL Azim-uth Dip From(m) To Sample +106 -106 +106 -106 -106 SFAAu(6) Conv
ID GDA GDA GDA (m) ID WT(1) WT(2) Au(3) Au(4) Au(5) FA(7)
gms gms ppm ppm ppm ppm ppm
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC235 8493957 794223 250 238.5 -55 148 149 SR2072 41.1 982 7.04 1.12 1.05 1.32 1.205
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC235 150 151 SR2073 47.7 991 1.99 0.86 0.95 0.95 0.7
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC235 150 151 SR2076 41.7 986 22.98 1.14 1.15 2.03 1.375
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC235 152 153 SR2078 5.8 1031 189.7 1.42 1.48 2.5 0.53
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC235 155 156 SR2081 10.6 1021 0.23 0.34 0.32 0.33 0.465
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC241 8494148 794156 271 238.5 -55 0 1 SR1259 5.5 746 53.55 2 2.04 2.4 1.475
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC241 1 2 SR1260 6.6 962 1.82 1.59 1.59 1.59 1.62
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC241 4 5 SR1263 12 1005 26.27 3.16 3.22 3.46 1.175
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC241 8 9 SR1267 7.8 1001 26.27 1.68 1.7 1.88 1.75
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC241 17 18 SR1279 23.9 1024 0.5 0.6 0.6 0.6 0.52
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC241 18 19 SR1280 52.3 985 0.26 0.67 0.72 0.67 0.625
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC241 24 25 SR1287 41.4 890 17.87 1.23 1.19 1.95 0.925
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC244 8493868 794056 217 238.5 -60 10 11 SR2456 7.1 1016 1.07 1.22 1.23 1.22 2.12
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC244 11 12 SR2457 4 1013 2.08 0.67 0.73 0.71 1.18
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC244 13 14 SR2459 4.6 1040 0.26 0.33 0.33 0.33 0.5
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC244 14 15 SR2460 7 1018 9.31 1.93 2.02 2.03 0.32
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC244 16 17 SR2462 2.3 1035 2.46 0.51 0.54 0.53 1.64
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC247 8494066 794055 240 236.9 -53.9 1 2 SR2557 12.8 1023 0.22 0.92 1 0.95 1.475
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC247 2 3 SR2558 1.9 1016 191.3 0.56 0.59 0.93 0.56
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC247 3 4 SR2559 4.9 1058 313.2 0.55 0.57 2 0.91
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC247 31 32 SR2591 2.7 1044 295.9 1.9 2.04 2.73 0.57
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC247 32 33 SR2592 4.4 1039 0.82 0.84 0.81 0.82 0.745
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC247 33 34 SR2593 4.5 1045 47.91 0.76 0.8 0.98 0.76
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC247 35 36 SR2595 10 1051 1.2 0.98 0.98 0.98 1.12
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC248 8494195 794031 244 238.5 -55 0 1 SR2640 5.4 1020 0.89 1.4 1.51 1.45 0.975
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC248 2 3 SR2642 9.2 1022 0.39 0.39 0.39 0.39 0.94
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC248 3 4 SR2643 20.1 1013 0.74 2.04 2.05 2.02 0.565
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC249 8494338 794245 270 238.5 -60 89 90 SR1506 42.1 970 27.84 2.25 2.06 3.22 1.68
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC249 92 93 SR1512 29.3 1006 20.34 2.45 2.4 2.93 1.37
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC249 94 95 SR1514 25.3 996 0.48 1.7 1.71 1.67 1.605
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC250 8494414 794334 271 238.5 -55 9 10 SR1350 86.7 961 0.64 0.92 0.9 0.89 1.785
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC250 10 11 SR1353 33.8 994 1.54 1.1 1.12 1.12 0.8
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC250 11 12 SR1354 30.5 981 2.86 1.43 1.43 1.47 0.875
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC250 12 13 SR1355 27.3 1001 58.9 0.72 0.72 2.26 1.005
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
SHRC250 13 14 SR1356 41.4 890 17.87 1.23 1.19 1.95 0.8
--------- -------- ------- ---- --------- ------ -------- ---- ------- ------ ------ ------ ------ ------ --------- ------
1: Weight of sample coarse fraction (particles greater
than 106 micro metres)
2: Weight of sample fine fraction (particles less
than 106 micro metres)
3: Fire assay of coarse fraction (ppm)
4: Fire assay of fine fraction (ppm)
5: Repeat fire assay of fine fraction (ppm) repeated
until consecutive results are within 10%
6: Weighted average of coarse and fine fraction
assays
7: Original conventional fire assay for comparison
-----------------------------------------------------------------------------------------------------------------------------------------
NORTH AUSTRALIAN LABORATORIES PTY LTD
SCREENFIRE GOLD ASSAY PROCEDURE.
A bulk sample of up to 2.5 Kg is pulverized in
a Labtechnics model LM5 Grinder to give a nominal
95% passing 106Um particle size. The pulverized
sample is then split to about one kilogram for
the assay sample. With the screenfire Au assay
procedure it is essential that all material that
is used in the assay procedure that can trap or
retain Au particles is consumed within the assay
procedure, for this reason cloth 106Um screen
and plastic screen holders are used as the cloth
and sample bag are fired with the oversize material.
A synopsis of the assay procedure is as follows:
1. Weigh the approximate one kilogram sub-sample
and record the sample weight.
2. Weigh the 106Um screen cloth together with the
sample packet and record the combined weight.
3. Wet screen the sample in 100 gram increments
until the whole sample has been screened through
the 106Um screen, collect all -106Um washings
in a 20 litre plastic bucket.
4. Remove the screen with the +106Um sample fraction
from plastic screen holder and transfer to the
weighed sample packet, wipe the rim of the plastic
screen holder with a small piece of tissue and
transfer to the sample packet.
5. Dry the sample packet, screen cloth and +106Um
sample fraction at 110 degrees C for four hours,
cool and weigh, record sample weight.
6. Prepare a 20 litre pressure filter with a felt
filter base and a double postlip filter paper
and pressure filter the -106Um sample fraction,
wash the bucket thoroughly and transfer all
washings to the pressure filter, continue filtering
until the pressure filter runs dry.
7. Remove the postlip filter papers with the -106Um
sample filter cake and dry at 105 degrees C
for eight hours.
8. Weigh the dried filter cake, zero the balance
with two postlip filter papers before weighing,
record sample weight.
9. Grind the filter cake in the LM5 grinder for
30 seconds to break up the filter cake and homogenize
the sample.
10. Assay in duplicate the -106Um fraction for Au
by fire assay, the assays must be within 10%,
if they are not a third assay is done, all -106Um
assays are reported if outside the 10% limit.
11. Assay the +106Um sample fraction including the
sample packet and screen cloth, if the +106Um
fraction is greater than 50 grams divide the
charge into two or three assays [or more, depending
on the weight of the fraction], the cloth and
packet must be fired with the last +106Um assay.
NOTE: the whole of the +106Um fraction must
be fired together with the screen cloth and
sample packet.
12. The head grade of the sample is calculated from
the mass of the +106Um and -106Um sample fractions
and the Au assay of the +106Um fraction and
the mean Au assay of the -106Um fraction.
---- -------------------------------------------------------
Table 2 - Section 1: Sampling Techniques and Data - Spring
Hill
Criteria JORC Code explanation Commentary
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Sampling
techniques * Nature and quality of sampling (eg cut channels, * Industry standard RC drilling, sampling and assay
random chips, or specific specialised industry designed to test target areas of potential gold
standard measurement tools appropriate to the mineralisation considered likely to enhance the
minerals under investigation, such as down hole gamma previously identified resource.
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad
meaning of sampling.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Include reference to measures
taken to ensure sample representivity * Collar locations were picked up using handheld GPS.
and the appropriate calibration
of any measurement tools or systems
used. * Downhole survey shots were taken at 30 metre
intervals using Reflex electronic single shot.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Aspects of the determination
of mineralisation that are Material * Every metre drilled was sampled, logged and assayed
to the Public Report. to industry standards.
------------------------------------------------------------ -------------------------------------------------------------------------
-- In cases where 'industry standard'
work has been done this would be * Reverse circulation drilling was used to obtain 1 m
relatively simple (eg 'reverse circulation samples from which 1 kg was pulverised to produce a
drilling was used to obtain 1 m 50 g charge for fire assay
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
techniques * Drill type (eg core, reverse circulation, open-hole * Drilling was carried out using a 43/4 inch reverse
hammer, rotary air blast, auger, Bangka, sonic, etc) circulation face sampling hammer bit.
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 * Method of recording and assessing core and chip * Qualitative observations were recorded in geology
recovery sample recoveries and results assessed. logs.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Measures taken to maximise sample
recovery and ensure representative * Some sample loss was experienced in the first metre
nature of the samples. or two of each hole but overall sample recovery was
very good
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Whether a relationship exists
between sample recovery and grade * As sample recovery was very good it is unlikely that
and whether sample bias may have such a relationship could be established.
occurred due to preferential loss/gain
of fine/coarse material.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * All drill samples were was geologically logged and
and geotechnically logged to a level of detail to photographed
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Whether logging is qualitative
or quantitative in nature. Core * All drill samples were geologically logged and
(or costean, channel, etc) photography. photographed
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- The total length and percentage * 100%
of the relevant intersections logged.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Sub-sampling * No core drilled
techniques * If core, whether cut or sawn and whether quarter,
and sample half or all core taken.
preparation
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- If non-core, whether riffled, * Rotary split
tube sampled, rotary split, etc
and whether sampled wet or dry.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- For all sample types, the nature,
quality and appropriateness of the * Accepted industry standard sampling process
sample preparation technique.
------------------------------------------------------------ -------------------------------------------------------------------------
-- Quality control procedures adopted
for all sub-sampling stages to maximise * QAQC procedures were followed as per industry best
representivity of samples. practice including the use blanks, duplicates and
certified reference material standards.
------------------------------------------------------------ -------------------------------------------------------------------------
-- Measures taken to ensure that
the sampling is representative of * Field duplicates were inserted every 30 samples
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 * A 2 kg sub sample from 30 kg with particle size sub
being sampled. 10mm is within the acceptable sample size range.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Quality
of assay * The nature, quality and appropriateness of the * Fire assay was used to determine total gold content
data and assaying and laboratory procedures used and whether
laboratory the technique is considered partial or total.
tests
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- For geophysical tools, spectrometers, * Not applicable
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, * Internal laboratory quality control was applied and
external laboratory checks) and duplicates run on all samples over 2g/t Au. Accuracy
whether acceptable levels of accuracy and precision was deemed acceptable.
(ie lack of bias) and precision
have been established.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Verification * Yes
of sampling * The verification of significant intersections by
and assaying either independent or alternative company personnel.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- The use of twinned holes. * No
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Documentation of primary data,
data entry procedures, data verification, * Validation processes integrated with data entry
data storage (physical and electronic) procedure.
protocols.
------------------------------------------------------------ -------------------------------------------------------------------------
-- Discuss any adjustment to assay * None required
data.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Location
of data * Accuracy and quality of surveys used to locate drill * Hand held GPS averaged over 10 minute interval
points holes (collar and down-hole surveys), trenches, mine
workings and other locations used in Mineral Resource
estimation. * Downhole survey shots were taken at 30 metre
intervals using Reflex electronic single shot.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Specification of the grid system
used. * The Spring Hill mine grid comprises the following
adjustments relative to GDA94 zone52:
o Rotation -28.16degrees
o East translation -790,091.789m
o North translation -8,480,800.386m
o Mine Grid RL = AHD + 976.75m
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Quality and adequacy of topographic *
control.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Data spacing * As per drill hole location plan
and * Data spacing for reporting of Exploration Results.
distribution
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- Whether the data spacing and * Not applicable
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. * Significant intercepts are calculated as length
weighted averages
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Orientation
of data * Whether the orientation of sampling achieves unbiased * Drilling is oriented to minimise sample bias as much
in relation sampling of possible structures and the extent to as possible. Interpreted true thicknesses are
to which this is known, considering the deposit type. provided where possible. Whether a quoted mineralised
geological interval is downhole or considered true is indicated
structure throughout the report.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
-- If the relationship between the * Yes, and has therefore been addressed.
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
security * The measures taken to ensure sample security. * Direct delivery by Thor personnel to the assay
laboratory.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Audits * Not available.
or reviews * The results of any audits or reviews of sampling
techniques and data.
------------- ------------------------------------------------------------ -------------------------------------------------------------------------
Table 2 - Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
--------------- --------------------------------------------------------------- ------------------------------------------------------------
Mineral
tenement * Type, reference name/number, location and ownership * Spring Hill is located on ML23812 in the Pine Creek
and including agreements or material issues with third Orogen and is jointly owned by Thor Mining subsidiary
land parties such as joint ventures, partnerships, TM Gold P/L (51%) and Western Desert Resources (49%).
tenure overriding royalties, native title interests,
status historical sites, wilderness or national park and
environmental settings.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
-- The security of the
tenure held at the time * The tenement is in good standing
of reporting along with
any known impediments
to obtaining a licence
to operate in the area.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
Exploration
done * Acknowledgment and appraisal of exploration by other * Prior to Thor Mining involvement previous drilling of
by other parties. the resource was conducted by the Ross Mining /
parties Billiton joint venture in the 1990s
--------------- --------------------------------------------------------------- ------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * Orogenic gold hosted by siltstones and greywackes of
mineralisation. the Mount Bonnie Formation of the Pine Creek Orogen.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
Drill * Table provided
hole * A summary of all information material to the
Information 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 * Not applicable
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 * In reporting Exploration Results, weighting averaging * Aggregated grades are length weighted where
methods techniques, maximum and/or minimum grade truncations applicable.
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
* Intersections less than 0.2g/t Au are not presented
in significant intersect summary tables.
* No high grade cut has been applied.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
-- Where aggregate intercepts
incorporate short lengths * Intersections are calculated using 0.2 g/t gold
of high grade results cutoff with a minimum interval of 1 metre and maximum
and longer lengths of internal dilution of 3 metres
low grade results, the
procedure used for such
aggregation should be * High grade intersections indicated by use of bold
stated and some typical font are calculated using 2 g/t gold cutoff with a
examples of such aggregations maximum of 3 metres internal dilution
should be shown in detail.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
-- The assumptions used * Not applicable
for any reporting of
metal equivalent values
should be clearly stated.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
Relationship --
between * These relationships are particularly important in the
mineralisation reporting of Exploration Results.
widths
and
intercept
lengths
--------------- --------------------------------------------------------------- ------------------------------------------------------------
-- If the geometry of
the mineralisation with * 'True width' is estimated for wider intersections
respect to the drill from the interpreted dip of the intersected
hole angle is known, mineralisation and the declination of the drill hole.
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
* Appropriate maps and sections (with scales) and * Refer to figures in the body of the text
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
reporting * Where comprehensive reporting of all Exploration * All intercepts of gold mineralisation over 0.2 g/t
Results is not practicable, representative reporting are provided in the report.
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
Other --
substantive * Other exploration data, if meaningful and material,
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
work * The nature and scale of planned further work (eg * Screen fire assays are in progress on all samples
tests for lateral extensions or depth extensions or greater than 2g/t Au. Other future work is yet to be
large-scale step-out drilling). Diagrams clearly determined.
highlighting the areas of possible extensions,
including the main geological interpretations and
future drilling areas, provided this information is
not commercially sensitive.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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