TIDMTHR
RNS Number : 1389Z
Thor Mining PLC
08 January 2020
8 January 2020
THOR MINING PLC
BONYA - HIGH GRADE TUNGSTEN & COPPER ASSAYS
Thor Mining Plc ("Thor") (AIM, ASX: THR) and Arafura Resources
Limited ("Arafura") (ASX: ARU) are pleased to advise that the final
follow up laboratory assay results from the recent Bonya RC drill
program confirm the previously reported interim portable XRF
results (11 and 25 November 2019).
The project is held in joint venture between Arafura (60%) and
Thor (40%) with Thor acting as manager, and each party contributing
to the cost according to their equity.
A total of eleven holes were drilled at White Violet, and a
further eight holes at Samarkand to complete the program with 1,386
metres drilled in total.
Highlights from White Violet include;
-- 23m @ 0.58% WO(3) from surface, including 6m at 1.7% WO(3) from surface; hole 19RC035
-- 8m @ 0.74% WO(3) from 65m, including 2m at 2.48% WO(3) from 69m; hole 19RC037
-- 1m @ 0.70% WO(3) from 42m; and 1m at 2.32% WO(3) from 50m; hole 19RC042
-- 3m @ 1.02% WO(3) from 22m, including 1m at 2.64% WO(3) from 22m; hole 19RC039
Highlights from Samarkand include;
-- 1m @ 0.79% WO(3) from 12m; hole 19RC044
-- 7m @ 0.28% WO(3) from 43m, and 9m @ 1.1% Cu from 45m, plus 2m
@ 2.17% WO(3) and 0.78% Cu from 78m; hole 19RC046
-- 1m @ 2.07% WO(3) from 18m; hole 19RC048
An independent resource geologist has been engaged with the
objective of preparing mineral resource estimates for both
deposits.
Mick Billing, Executive Chairman of Thor Mining, commented:
"The Bonya tungsten deposits are delivering robust results
which, we believe can add significantly to the economic life and
commercial outcomes of the nearby proposed Molyhil project."
"The Bonya project hosts additional tungsten and copper
deposits, and these will be tested in due course, however our
initial focus is likely to remain with the White Violet tungsten
deposit, the Samarkand tungsten/copper deposit, and the Bonya
copper deposit. It is hoped that these can extend the Molyhil
project life of mine towards 10 years."
Gavin Lockyer, Managing Director of Arafura Resources,
commented:
"Assays from this latest drilling campaign confirms the
potential at both White Violet and Samarkand to host tungsten
mineral resources. We look forward to delivering the outcome of the
resource estimation work in due course."
The 19-hole program comprised 1,386 metres of drilling by
Reverse Circulation (RC) method on the White Violet and Samarkand
deposits. A complete list of significant drill intercepts is
tabulated below along with estimated true widths of
mineralisation.
Table A: Summary of Results
Hole Prospect East North Elev Azi Dip Depth Assay Intercept Est
ID GDA94 GDA94 ASL (m) summary true
Zone53 Zone53 (m) width
(m)
3m @ 0.23%WO3 from
135m and
White 3m @ 0.17%WO3 from 2m
19RC033 Violet 609,683 7,486,032 412 192 -70 178.2 143m 2m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
13m @ 0.38%WO3 from
1m including
6m @0.32%Cu from
5m. 10m
White 4m @ 0.43%WO3 from 4.5m
19RC034 Violet 609,692 7,486,073 408 192 -45 51 17m 3m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
23m @ 0.58%WO3 from
0m including
6m @ 1.7%WO3 from
0m and
10m @ 0.21% Cu from
18m, and 19m
White 10m @0.22%WO3 from 4.5m
19RC035 Violet 609,663 7,486,047 409 192 -50 81 26m 7m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
5m @ 0.41%WO3 from
51m and
1m @ 0.59%WO3 from
104m and
10m @ 0.25%WO3 from 3m
115m and 0.5m
White 3m @ 0.63%WO3 from 7m
19RC036 Violet 609,671 7,486,061 409 192 -65 138 128m 2m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
8m @ 0.64%Cu from
62m
8m @ 0.74%WO3 from
65m including
2m @ 2.48% WO3 from
69m and 6m
3m @ 0.25%WO3 from 6m
76m including 1.5m
White 2m @ 0.43%Cu from 2m
19RC037 Violet 609,639 7,486,067 405 192 -65 96 77m 1.5m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
1m @ 0.7%WO3 from
42m and
1m @ 2.32%WO3 from
50m and 0.5m
White 2m @ 0.43%WO3 from 0.5m
19RC042 Violet 609,710 7,486,049 411 192 -50 60 57m 1.5m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
3m @ 0.41%WO3 from
11m and
White 5m @ 0.18%WO3 from 2m
19RC038 Violet 609,730 7,486,027 413 192 -60 93 17m 4m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
3m @ 1.02%WO3 from
22m including
White 1m @ 2.64%WO3 from 2m
19RC039 Violet 609,756 7,486,027 411 192 -55 42 22m 0.5m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
White
19RC040 Violet 609,780 7,486,013 407 192 -55 48 no significant intercept
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
White 17m @ 0.35%WO3 from
19RC041 Violet 609,708 7,486,036 412 192 -55 30 19m 14m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
White
19RC043 Violet 609,638 7,486,067 405 192 -45 52 no significant intercept
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
1m @ 0.79%WO3 from
19RC044 Samarkand 612,110 7,485,390 427 045 -50 78 12m 0.5m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
19RC045 Samarkand 612,091 7,485,405 424 045 -55 51 no significant intercept
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
7m @ 0.28%WO3 from
43m and
9m @ 1.1%Cu from45m 5m
2m @ 2.17%WO3 and 7m
19RC046 Samarkand 612,087 7,485,401 424 045 -75 99 0.78% Cu from 78m 1.5m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
19RC047 Samarkand 612,069 7,485,414 422 045 -75 30 hole abandoned
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
1m @ 2.07%WO3 from
19RC048 Samarkand 612,070 7,485,415 422 045 -55 63 18m 0.5m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
19RC049 Samarkand 612,067 7,485,418 422 045 -75 90 no significant intercept
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
1m @ 0.85%WO3 from
19RC050 Samarkand 612,069 7,485,450 422 045 -50 55 5m 0.5m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
3m @ 0.20%WO3 from
19RC051 Samarkand 612,139 7,485,346 415 045 -55 51 3m 2m
----------- -------- ---------- ----- ---- ---- ------ ------------------------- -------
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.
JORC Code, 2012 Edition - Table 1 Report
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
sondes, or handheld XRF instruments, etc). These Subsamples of approximately
examples should not be taken as limiting the broad 2-3kg were taken from
meaning of sampling. each interval using riffle
splitter for geochemical
analysis. XRF subsamples
* Include reference to measures taken to ensure sample and chip tray samples
representivity and the appropriate calibration of any were collected, logged
measurement tools or systems used. and photographed.
Industry standard QAQC
* Aspects of the determination of mineralisation that protocol was adopted
are Material to the Public Report. with reference material
inserted 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 3.5 inch face sampling
hammer, rotary air blast, auger, Bangka, sonic, etc) hammer.
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
recovery * Method of recording and assessing core and chip from a selection of holes
sample recoveries and results assessed. to 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
support appropriate Mineral Resource estimation, of 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
* If non-core, whether riffled, tube sampled, rotary were 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
* For all sample types, the nature, quality and particle 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
samples. taken 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 Laboratory geochemical
of assay * The nature, quality and appropriateness of the assay results have now
data and assaying and laboratory procedures used and whether been completed.
laboratory the technique is considered partial or total. Industry standard sample
tests preparation finishing
with sample pulverisation
* For geophysical tools, spectrometers, handheld XRF to 80% passing 75um.
instruments, etc, the parameters used in determining with assay by peroxide
the analysis including instrument make and model, fusion and ICP-MS.
reading times, calibrations factors applied and their The technique is considered
derivation, etc. appropriate for the analyte
suite.
Industry standard QA/QC
* Nature of quality control procedures adopted (eg protocol is implemented
standards, blanks, duplicates, external laboratory in the assay process.
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
* The use of twinned holes. undertaken.
* 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 were surveyed by licenced
points holes (collar and down-hole surveys), trenches, mine survey contractor for
workings and other locations used in Mineral Resource mineral resource estimation.
estimation. North seeking gyro will
be used for downhole
survey.
* Specification of the grid system used. Grid system used is GDA94,
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
* Whether the data spacing and distribution is is considered appropriate
sufficient to establish the degree of geological and for resource estimation
grade continuity appropriate for the Mineral Resource in this style of mineralisation.
and Ore Reserve estimation procedure(s) and Sample compositing was
classifications applied. undertaken in areas that
were not mineralised
.
* Whether sample compositing has been applied.
------------------ ------------------------------------------------------------- -----------------------------------
Orientation Hole orientations are
of data * Whether the orientation of sampling achieves unbiased appropriate for the orientation
in relation sampling of possible structures and the extent to of target mineralised
to geological which this is known, considering the deposit type. zones. Estimated true
structure widths are stated in
the report intercept
* If the relationship between the drilling orientation summary table.
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 on EL29701
status including agreements or material issues with third jointly
parties such as joint ventures, partnerships, held by Arafura
overriding royalties, native title interests, Resource
historical sites, wilderness or national park and Limited (60%) and Thor
environmental settings. Mining PLC (40%) with
Thor acting as manager
* The security of the tenure held at the time of EL29701 is a mature
reporting along with any known exploration
licence subject to
ongoing
impediments to obtaining a licence biennial renewal.
to operate in the area.
------------------------ ----------------------------------------------------------------- -------------------------
Exploration Previous drilling was
done by * Acknowledgment and appraisal of exploration by other undertaken by Central
other parties parties. 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, reported average
techniques, maximum and/or minimum grade truncations grades are length
(eg cutting of high grades) and cut-off grades are weighted.
usually Material and should be stated. No 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% WO(3) was used
results, the procedure used for such aggregation in determining
should be stated and some typical examples of such aggregated
aggregations should be shown in detail. mineralisation
intervals.
High-grade intervals
* The assumptions used for any reporting of metal were highlighted where
equivalent values should be clearly WO(3) exceeded 1%.
No metal equivalents
were reported.
stated.
Relationship Estimated true widths
between mineralisation * These relationships are particularly important in the are provided for each
widths and reporting of Exploration Results. reported interval.
Mineralisation
intercept angles are
* If the geometry of the mineralisation with respect to in the order of 60
the drill hole angle is known, its degrees.
Correction to true
widths
is in the order of 60
to 75% of drill widths.
------------------------ ----------------------------------------------------------------- -------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCUPURWGUPUUBR
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