TIDMTHR
RNS Number : 6601U
Thor Mining PLC
26 November 2019
26 November 2019
THOR MINING PLC
PRELIMINARY DRILLING RESULTS AT KAPUNDA PROJECT
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) are
pleased to advise positive preliminary results from the initial
hydrogeological drilling program at the Kapunda ISR (Insitu
Recovery) copper project carried out by EnviroCopper Limited.
EnviroCopper Limited, via subsidiary Environmental Copper
Recovery Pty Ltd, has entered into an agreement to earn, in two
stages, up to 75% of the rights over metals which may be recovered
via in-situ recovery ("ISR") contained in the Kapunda deposit from
Australian listed company, Terramin Australia Limited ("Terramin"
ASX: "TZN"). Thor hold a 25% interest in EnviroCopper Limited with
rights to increase that interest to 30%.
A total of 3 holes were drilled and two screened wells installed
to carry out initial hydrogeological investigations including
-- Baseline properties including water level, pH and EC (electrical conductivity)
-- Groundwater geochemistry profile with depth including salinity and metal concentration
-- Flow rates measured by depth and achievable production well yields
-- Storage coefficient
-- Effective Porosity (pores that allow the transfer of water) as % by volume
-- Hydraulic connectivity between wells located 15m apart
-- Permeability (also described as hydraulic conductivity)
HIGHLIGHTS FOR POTENTIAL ISR OPERATIONS:
-- The water table is quite shallow starting around 11-12m and
there is connectivity between the screened intervals along the
predominant fracture direction. This will be verified with the
hydrogeological testing program to be carried out.
-- The fracture zone contains significant copper mineralisation
which is expected to be amenable to in situ recovery intersected in
all three holes .
The next stage of the work includes large scale column leach
recovery tests leading on to a full scale field trial.
MINERALISATION HIGHLIGHTS (PRELIMINARY):
The following results obtained via portable X-Ray Fluorescence
("XRF") determination should be considered preliminary and subject
to confirmation by subsequent geochemical analysis, with results
due within four weeks. The geochemical analysis results may vary
from those obtained from XRF.
-- The pilot hole (KPFRT01) encountered 66 metres @ 0.27% Cu
including 5m @ 0.72% Cu and 11 metres @ 0.54% Cu;
-- KPFRT02 intersected from 8m 23m @ 0.49% Cu to end of hole
-- KPFRT03 intersected from 22m, 6m @ 0.47% Cu to end of hole .
Mr Mick Billing, Executive Chairman, commented:
"It is very exciting to have confirmation of both consistency of
mineralisation and possible hydrogeological connectivity along
strike in the facture zone. This adds considerable weight to the
potential for a successful ISR operation in due course."
"It is also pleasing to note that the preliminary copper grades
are above the average for the resource. We are very keen to have
laboratory assays to confirm these, and also to provide any gold
values, as gold is most unlikely to be picked up in portable XRF
readings."
"These holes were drilled on the very southern tip of the main
resource area, and previously conducted IP surveys further south
show additional chargeable anomalies which should be investigated
to see if they contain additional mineralisation, which could
significantly extend the resource."
Drilling Program Detail
The bores were drilled and installed by Watson drilling who have
installed a large number of production bores in the Beverly and
Honeymoon ISR projects.
A pilot hole was first drilled to assess the fracture zone,
following this, two wells were installed with in line screens and
K-Packers; KPFRT02 was drilled to 29m, cased with 177mm class 12
PVC casing and 100mm -slotted PVC screen installed from
20.6m-28.6m. KPFRT03 was drilled to 29m, fitted with similar casing
and 100mm slotted PVC screen installed from 20.5m - 29m.
Table A: Summary of Kapunda preliminary XRF results
Hole Prospect East North Elev Azi Dip Depth Preliminary XRF
ID GDA94 GDA94 ASL (m) Intercept summary
Zone54 Zone54 (m)
66m @ 0.27% Cu including
5m @ 0.72% Cu from
3m and 11m @ 0.54%
KPFRT01 Kapunda 308641 6196659 0 -90 51 Cu from 19m
---------- -------- -------- ----- ---- ---- ------ -------------------------
KPFRT02 from 8m,
23m @ 0.49% Cu to
KPFRT02 Kapunda 308640 6196669 0 -90 178.2 end of hole
---------- -------- -------- ----- ---- ---- ------ -------------------------
KPFRT03 from 22m,
6m @ 0.47% Cu to
KPFRT03 Kapunda 308639 6196660 0 -90 81 end of hole
---------- -------- -------- ----- ---- ---- ------ -------------------------
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 Leon Faulkner, who
holds a BSc in geology and who is a Member of The Australasian
Institute of Geoscientists. Mr Faulkner is a Director of
EnviroCopper Ltd. 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'. Leon Faulkner 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 (with rights to increase its interest to 30%).
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 Rotary Air Blast drilling
techniques * Nature and quality of sampling (eg cut channels, with face sampling blade
random chips, or specific specialised industry bit was used to obtain
standard measurement tools appropriate to the one metre interval samples.
minerals under investigation, such as down hole gamma Some samples were wet.
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad Subsamples of approximately
meaning of sampling. 2-3kg will be taken from
each interval using riffle
splitter for geochemical
* Include reference to measures taken to ensure sample analysis. XRF subsamples
representivity and the appropriate calibration of any and Chip tray samples were
measurement tools or systems used. collected, logged and photographed.
Industry standard QAQC
* Aspects of the determination of mineralisation that protocol was adopted with
are Material to the Public Report. XRF calibrated during the
program. A comparison with
another handheld XRF was
* In cases where 'industry standard' work has been done undertaken on a subset
this would be relatively simple (eg 'reverse of samples and showed no
circulation drilling was used to obtain 1 m samples significant bias.
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 Rotary Air Blast drilling
techniques * Drill type (e.g. core, reverse circulation, open-hole
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 Most were consistently
within the range of 10
* Measures taken to maximise sample recovery and ensure to 15kg apart from some
representative nature of the samples. samples at the water table
interface where obtaining
return was difficult for
* Whether a relationship exists between sample recovery a meter or two
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 XRF determination.
* 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 Subsamples for independent
techniques * If core, whether cut or sawn and whether quarter, laboratory analyses will
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 RAB samples
with a maximum particle
* For all sample types, the nature, quality and size of 6mm.
appropriateness of the sample preparation technique.
Preliminary XRF determination
not to be used for resource
* Quality control procedures adopted for all estimation
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.
------------------ ------------------------------------------------------------ ------------------------------------
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 to be 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 handheld
points holes (collar and down-hole surveys), trenches, mine GPS.
workings and other locations used in Mineral Resource Grid system used is GDA94,
estimation. zone 54.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
------------------ ------------------------------------------------------------ ------------------------------------
Data spacing Drill holes are spaced
and distribution * Data spacing for reporting of Exploration Results. at 10 metre centres . This
spacing is considered appropriate
for the hydrogeologic testing
* Whether the data spacing and distribution is to be carried out.
sufficient to establish the degree of geological and Samples have not been composited.
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
------------------ ------------------------------------------------------------ ------------------------------------
Orientation Hole orientations are appropriate
of data * Whether the orientation of sampling achieves unbiased for the placement of wells
in relation sampling of possible structures and the extent to in the target mineralised
to geological which this is known, considering the deposit type. zones.
structure
Holes are drilled down
* If the relationship between the drilling orientation fracture zone and along
and the orientation of key mineralised structures is fracture strike.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
------------------ ------------------------------------------------------------ ------------------------------------
Sample No unauthorised company
security * The measures taken to ensure sample security. personnel visited the site
during operations. Assay
samples were collected
from each hole immediately
after drilling. Samples
were transported for safe
storage to Adelaide office
where they will be securely
packaged for transport
to the laboratory. All
------------------ ------------------------------------------------------------ ------------------------------------
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 Kapunda project is
and land tenure * Type, reference name/number, location and ownership located
status including agreements or material issues with third on EL6198 held by
parties such as joint ventures, partnerships, Terramin
overriding royalties, native title interests, Exploration Pty Ltd
historical sites, wilderness or national park and
environmental settings. EL6198 is a mature
exploration
licence subject to
* The security of the tenure held at the time of ongoing
reporting along with any known biennial renewal.
impediments to obtaining a licence
to operate in the area.
Exploration Previous drilling and
done by * Acknowledgment and appraisal of exploration by other exploration
other parties parties. has been undertaken by
numerous
companies since the
1960's
through to the 1990's
Geology Fracture hosted
* Deposit type, geological setting and style of mineralisation
mineralisation. with well developed
supergene
zone.
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 All samples are 1m
methods * In reporting Exploration Results, weighting averaging intervals,
techniques, maximum and/or minimum grade truncations no cut has been applied
(eg cutting of high grades) and cut-off grades are to grades
usually Material and should be stated. .
No metal equivalents
were
* Where aggregate intercepts incorporate short lengths reported.
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 Drilling and well
between mineralisation * These relationships are particularly important in the installation
widths and reporting of Exploration Results. is placed within the
fracture
zone
* If the geometry of the mineralisation with respect to
the drill hole angle is known, its
------------------------ ----------------------------------------------------------------- -------------------------
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END
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