TIDMTHR

RNS Number : 0847H

Thor Mining PLC

01 December 2020

1 December 2020

THOR MINING PLC

PILBARA GOLDFIELDS RAGGED RANGE PROJECT

GOLD IN STREAM SEDIMENTS UP TO 2.2g/t

The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) are pleased to advise high grade gold in stream sediment samples, from the third phase of gold geochemical sampling, carried out in October, at the 100% owned Pilbara Goldfield Ragged Range Project in Western Australia.

Highlights:

-- High grade gold in stream sediments including:

   --             >2000ppb Au (>2.0 g/t) repeat 2.2g/t Au - 20PST51 (Au AR25 with repeat FA25) 
   --             1886ppb Au (1.9 g/t) - 20PST54 (Au AR25) 
   --             126ppb Au - 20PST52 (BLEG) 
   --             173ppb Au -20PST58 (BLEG) 
   --             111ppb Au-20PST66 (BLEG) 

-- Third phase of stream sediment sampling defines four distinct clusters of consistently high-grade gold.

-- High grade gold continues to validate the mineralization potential along the 13km anomalous gold corridor, trending along the interpreted thrust-faulted mafic/ultramafic contact.

-- Geochemical data analyses continuing, with a field mapping and soil sampling program proposed over priority targets within the anomalous 13km gold trend to further delineate coherent gold trends prior to drill testing.

Mick Billing, Executive Chairman of Thor Mining, commented:

"These are very exciting times for Thor at Ragged Range, as this project continues to exceed expectations."

"A number of very promising drill targets appear destined for testing, and we expect that the interpretation of the airborne magnetic survey results (near completion) should confirm several of these."

"We look forward to providing further updates with continued progress."

A map showing the project location can be accessed from the Thor website via the attached link:

www.thormining.com/sites/thormining/media/maps/20-004-1a-ragged-range-location.jpg

Ragged Range Project, located in the prospective Eastern Pilbara Craton, WA (Figure 1) is 100% owned by Thor Mining - (E46/1190, E46/1262, E46/1355 (application), with the recent acquisition of additional tenure surrounding the gold anomalous zones, E46/1340 and E46/1354 (application).

Further to the AIM announcement of 13 October 2020, a total of 54 stream sediment sites (20PST 35 to 55, 55A, 56 to 72 and 74 to 89 were sampled). At each site; a fine (< 2mm) and a coarse fraction (>2mm) were collected and assayed by Intertek method AR25 (Aqua Regia) with an additional 2kg sample of the <2mm being assayed by Bulk Leach Extractable Gold (BLEG) using method CN2000 (Cyanide leach) and an additional <2mm sample used for in-field panning. The coarse >2mm fraction was crushed in the lab and assayed by method AR25. Thor has been following this stream sediment sampling protocol on the advice of our experienced consultant geologist George Merhi, who has worked in the Pilbara over many years. The advantage of using the different geochemical sampling procedures and assaying techniques is in verifying the presence of gold at each site and the medium the gold is in.

The geochemical program was designed to follow up anomalous gold identified in stream sampling programs completed in October 2019 and September 2020, with values of up to 256ppb (19PST 19F -AR25) and 130ppb (20PST 24F-BLEG). In addition to the follow up stream samples, reconnaissance stream samples were also collected within the tenure including samples on the granite contact to the north, along with a 1.5km NE-SW rock chip traverse across the interpreted 13km long gold corridor;

A link to an announcement of details of the sampling program may be accessed from the Thor website:

( https://www.thormining.com/sites/thormining/media/pdf/ASX-Announcements/20201014-Ragged-Range-Gold-Project-Sampling-Program.pdf ).

Stream Sediment Sampling-Gold Anomalism

Fifty-four (54) sample sites with a total of 112 stream sediment samples were selected for reconnaissance and follow up sampling to the 2019 and 2020 geochemical programs. 11 of the 54 sample sites returned anomalous gold values above 5ppb with 4 of these returning greater than 20ppb with results up to 2200ppb Au (2.2g/t Au - 20PST51) (Figure 2 and Table A).

From the -2mm AR25 samples, 10 samples are above background for the area (5ppb Au) and 5 samples are considered highly anomalous above 20ppb Au. Perhaps more importantly, from the BLEG samples, 13 samples are above the background 5ppb Au while 7 samples are considered to be highly anomalous above 20ppb Au. The coarse >2mm fraction show little anomalism with the highest assay being only 7ppb Au in a sample that reports only 3ppb Au in the <2mm AR25 and 2.31ppb Au in the BLEG assay.

These high-grade gold results in conjunction with the results from the October 2019 and September 2020 sampling programs (and historical data) form four distinct high-grade gold clusters adjacent to the interpreted thrust faulted mafic/ultramafic contact.

www.thormining.com/sites/thormining/media/maps/rr-clusters-202012.jpg

These clusters indicate close proximity to a gold source and will now form the focus of future exploration activities with soil sampling and mapping upstream to identify the gold source for defined drill targets.

Consistent anomalous gold along the gold corridor is a good indication that the corridor is open along strike extending south into E46/1355 application (100% Thor Mining).

ROCK SAMPLING PROGRAM

In conjunction with the stream sediment program a 1.5km rock chip sampling traverse was undertaken in the central gold anomalous catchment zone, ( https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200902-asx-rr-gold-sample-results.pdf ) . A total of 14 rock samples collected returned elevated gold in results up to 45ppb Au.

Table A: Phase 3 October 2020 Stream Sediment Sample Summary

Coordinates in MGA Zone 50 (GDA94)

At each site; a fine (< 2mm) and coarse fractions (>2mm) were collected and assayed by Intertek method AR25 (Aqua Regia) with an additional 2kg sample of the <2mm being assayed by Bulk Leach Extractable Gold (BLEG) using method CN2000 (Cyanide leach)

 
  Sample     Easting   Northing    Au ppb      Au ppb     Au g/t   Visible   Pan Description 
     No                             < 2mm       BLEG       < 2mm     Gold 
                                   AR25/MS    CN2000/MS    FA25     Counts 
  20PST35    781931    7585352           1         1.02               1        1 fine flat 
            ========  =========  =========  ===========  =======  ========  ================= 
                                                                                1 vf, 1 f, 
  20PST36    781978    7585309           2         2.86               2             flat 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST37    781465    7585976          59         2.05 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST38    781446    7585995           2          1.2 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST39    783695    7586449           1         0.37 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST40    783744    7586393         0.5         0.47 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST41    783087    7586092         0.5         0.38 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST42    783151    7586067           8         0.82 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST43    783092    7586667           3         0.56 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST44    783082    7586651           1         0.65 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST45    785554    7579865           8         1.82 
            ========  =========  =========  ===========  =======  ========  ================= 
                                                                             1 med, rnd edges 
  20PST46    785595    7579873           6         1.61               1            flat 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST47    785828    7578310           2          8.1 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST48    785736    7580837           1         1.89 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST49    783402    7582258         0.5         0.85 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST50    784483    7582317         0.5         0.48 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST51    783101    7583251        2200        24.51    2.2        1       1f, flat, ang 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST52    781564    7584405           3       126.41 
            ========  =========  =========  ===========  =======  ========  ================= 
                                                                              1vcrs, 1f, 
  20PST53    781579    7584409           7         3.06               2        rnd edges 
            ========  =========  =========  ===========  =======  ========  ================= 
                                                                               6, 3vcrs,3f 
  20PST54    780793    7585100        1886        113.2               6             ang 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST55    784130    7586221           2         1.08 
            ========  =========  =========  ===========  =======  ========  ================= 
 20PST55A    784889    7578997           3          0.5 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST56    784791    7578909           3         0.49 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST57    786567    7579686           2        10.34               1          1f, flat 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST58    786632    7579686          10        173.8               2      1rnd,1jagged 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST59    784512    7580045           2         1.56 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST60    784483    7580095         0.5         0.33 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST61    784997    7580395           3          0.5 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST62    785055    7580397           3         2.31 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST63    783987    7581754           3        17.88               1       1f, rnd edges 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST64    783991    7581733         0.5         0.86               1         1 med, ang 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST65    783483    7581421           1         0.48 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST66    783758    7582481          25       111.72 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST67    783758    7582481         0.5         0.27 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST68    783730    7582380           4         1.23 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST69    783623    7583470         0.5         0.57 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST70    781012    7585654           6         1.84               2         2vf jagged 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST71    784727    7585751         0.5         0.48 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST72    785405    7585414           3          1.6 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST73     Blank                    0.5          0.5 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST74    779246    7591856           2        45.17               1          1vf ang 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST75    781315    7590257           2         0.48 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST76    780314    7588246           3         1.39 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST77    780215    7589963         0.5         1.05 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST78    779931    7589619           2         1.44 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST79    779364    7588975         0.5         0.34 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST80    780208    7586992         0.5         0.18 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST81    779335    7590223           2         0.51 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST82    780919    7590737         0.5         21.9 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST83    780906    7590789           3         2.96 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST84    779341    7588937         0.5        15.55               6          6f, ang 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST85    780535    7587470         0.5         0.43 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST86    780456    7587628         0.5         0.38 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST87    779895    7587610         0.5         0.59 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST88    780193    7587005         0.5        10.18 
            ========  =========  =========  ===========  =======  ========  ================= 
  20PST89    779892    7587638           5         5.94 
            ========  =========  =========  ===========  =======  ========  ================= 
 

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 Secretary 
                  1935 
 Colin Aaronson  +44 (0) 207 3835100  Grant Thornton   Nominated Adviser 
                                       UK LLP 
 Nick Emerson    +44 (0) 1483         SI Capital Ltd   Broker 
                  413500 
 

Competent Persons Report

The information in this report that relates to exploration results is based on information compiled by Nicole Galloway Warland, who holds a BSc Applied geology (HONS) and who is a Member of The Australian Institute of Geoscientists. Ms Galloway Warland is an employee of Thor Mining PLC. She has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she 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'. Nicole Galloway Warland consents to the inclusion in the report of the matters based on her 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.

At the 100% owned Ragged Range Project in the Pilbara region of Western Australia, Thor has exciting early stage results for which gold and nickel drilling is planned."

Thor is earning an 80% interest in the Alford East copper project, on South Australia's Yorke Peninsula, where significant historical copper mineralisation is considered amenable to insitu recovery production.

Thor also holds a 30% interest in Australian copper development company EnviroCopper Limited, which in turn 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 . EnviroCopper also holds rights to earn a 75% interest in portion of the Alford West copper project also in South Australia, and is also considered amenable to recovery by way of in situ recovery .

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 Inferred resource estimates for the Bonya copper deposit, and the White Violet and Samarkand tungsten deposits(2).

Thor 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.

"Thor holds mineral claims in the US states of Colorado and Utah with historical high grade uranium and vanadium drilling and production results."

Notes

(1) Refer ASX and AIM announcement of 23 August 2018

(2) Refer ASX and AIM announcement of 26 November 2018, and 29 January 2020

(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

   1   JORC Code, 2012 Edition - Table 1 report template 
   1.1         Section 1 Sampling Techniques and Data 
 
  Criteria        JORC Code explanation                                           Commentary 
 Sampling                                                                         The programme comprised 
  techniques        *    Nature and quality of sampling (eg cut channels,          stream sediment trap 
                         random chips, or specific specialised industry            site sampling with coarse 
                         standard measurement tools appropriate to the             (3kg - 5mm+2mm) and 
                         minerals under investigation, such as down hole gamma     fine (4kg - 2mm) fraction 
                         sondes, or handheld XRF instruments, etc). These          samples collected for 
                         examples should not be taken as limiting the broad        geochemical analysis 
                         meaning of sampling.                                      for Au 2kg BLEG (fine 
                                                                                   fraction), aqua regia 
                                                                                   (fine and coarse fractions) 
                    *    Include reference to measures taken to ensure sample      and multi-element analysis. 
                         representivity and the appropriate calibration of any     In addition a 10-12 
                         measurement tools or systems used.                        kg sample of - 2mm material 
                                                                                   was collected from each 
                                                                                   trap site and panned 
                    *    Aspects of the determination of mineralisation that       in the field. 
                         are Material to the Public Report.                        Each rock chip sample 
                                                                                   comprised 8 - 10kg of 
                                                                                   rock taken along a 1.5km 
                    *    In cases where 'industry standard' work has been done     traverse for geochemical 
                         this would be relatively simple (eg 'reverse              analysis for Au (FA 
                         circulation drilling was used to obtain 1 m samples       50) and multi-element 
                         from which 3 kg was pulverised to produce a 30 g          4 acid digestion. 
                         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                                                                         Not applicable 
  techniques        *    Drill type (eg core, reverse circulation, open-hole 
                         hammer, rotary air blast, auger, Bangka, sonic, etc) 
                         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                                                                     Not applicable 
  recovery          *    Method of recording and assessing core and chip 
                         sample recoveries and results assessed. 
 
 
                    *    Measures taken to maximise sample recovery and ensure 
                         representative nature of the samples. 
 
 
                    *    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                                                                          No logging was undertaken 
                    *    Whether core and chip samples have been geologically 
                         and geotechnically logged to a level of detail to 
                         support appropriate Mineral Resource estimation, 
                         mining studies and metallurgical studies. 
 
 
                    *    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                                                                    Samples were screened 
  techniques        *    If core, whether cut or sawn and whether quarter,         in the field as described 
                         half or all core taken.                                   in "Sampling Techniques" 
                                                                                   above. 
                                                                                   The sample sizes are 
                    *    If non-core, whether riffled, tube sampled, rotary        as per industry standard 
                         split, etc and whether sampled wet or dry.                for stream 
 
 
                    *    For all sample types, the nature, quality and 
==============  ==============================================================  ============================== 
 
 
 and sample           appropriateness of the sample preparation                       sediment geochemistry. 
  preparation          technique.                                                      One field duplicate 
                        *    Quality control procedures adopted for all                and one blank sample 
                             sub-sampling stages to maximise representivity of         were submitted for assay 
                             samples.                                                  with the other 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                                                                              The proposed assay method 
  of assay              *    The nature, quality and appropriateness of the            is appropriate for preliminary 
  data and                   assaying and laboratory procedures used and whether       exploration. 
  laboratory                 the technique is considered partial or total. 
  tests 
 
                        *    For geophysical tools, spectrometers, 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, external laboratory 
                             checks) and whether acceptable levels of accuracy (ie 
                             lack of bias) and precision have been established. 
==================  ==============================================================  ================================= 
 Verification                                                                         Not undertaken 
  of sampling           *    The verification of significant intersections by 
  and assaying               either independent or alternative company personnel. 
 
 
                        *    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                                                                             Hand held GPS - MGA94 
  of data               *    Accuracy and quality of surveys used to locate drill      zone 50 (GDA) 
  points                     holes (collar and down-hole surveys), trenches, mine 
                             workings and other locations used in Mineral Resource 
                             estimation. 
 
 
                        *    Specification of the grid system used. 
 
 
                        *    Quality and adequacy of topographic control. 
==================  ==============================================================  ================================= 
 Data spacing                                                                         Not applicable - no 
  and distribution      *    Data spacing for reporting of Exploration Results.        resource is being reported 
 
 
                        *    Whether the data spacing and 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. 
==================  ==============================================================  ================================= 
 Orientation                                                                          Orientational bias is 
  of data               *    Whether the orientation of sampling achieves unbiased     not applicable to stream 
  in relation                sampling of possible structures and the extent to         sediment sampling which 
  to geological              which this is known, considering the deposit type.        are essentially one 
  structure                                                                            dimensional. 
 
                        *    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 security                                                                      Samples were flown back 
                        *    The measures taken to ensure sample security.             to 
                                                                                       Nullagine and trucked 
                                                                                       to the assay laboratory 
                                                                                       in Perth. 
==================  ==============================================================  ================================= 
 
 
                                                                                                    Sample security 
                                                                                                    levels are 
                                                                                                    considered 
                                                                                                    appropriate for a 
                                                                                                    preliminary 
                                                                                                    reconnaissance 
                                                                                                    assessment. 
 Audits                                                                                          None undertaken 
  or reviews             *    The results of any audits or reviews of sampling 
                              techniques and data. 
=================  ==========================================================================  ======================= 
 
   1.1        Section 2 Reporting of Exploration Results 
 
  Criteria           JORC Code explanation                                            Commentary 
 Mineral                                                                              Exploration results 
  tenement              *    Type, reference name/number, location and ownership       are reported on E46/1190 
  and land                   including agreements or material issues with third        and E46/1262 in Western 
  tenure status              parties such as joint ventures, partnerships,             Australia held 100% 
                             overriding royalties, native title interests,             by Thor Mining PLC. 
                             historical sites, wilderness or national park and 
                             environmental settings. 
 
 
                        *    The security of the tenure held at the time of 
                             reporting along with any known impediments to 
                             obtaining a licence to operate in the area. 
                   =============================================================== 
 Exploration                                                                          Not applicable 
  done by               *    Acknowledgment and appraisal of exploration by other 
  other parties              parties. 
=================  ===============================================================  =========================== 
 Geology                                                                              Yet to be determined 
                        *    Deposit type, geological setting and style of 
                             mineralisation. 
=================  ===============================================================  =========================== 
 Drill hole                                                                           No drilling has been 
  Information           *    A summary of all information material to the              undertaken or reported 
                             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 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                                                                     Only field observations 
  methods               *    In reporting Exploration Results, weighting averaging     have been reported. 
                             techniques, maximum and/or minimum grade truncations      There has been no data 
                             (eg cutting of high grades) and cut-off grades are        aggregation. 
                             usually Material and should be stated. 
 
 
                        *    Where aggregate intercepts incorporate short lengths 
                             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                                                                           No drilling has been 
 between                 *    These relationships are particularly important in the     undertaken or reported 
 mineralisation               reporting of Exploration Results. 
 widths and 
 intercept 
 lengths                 *    If the geometry of the mineralisation with respect to 
                              the drill hole angle is known, 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                                                                              A sample location plan 
                         *    Appropriate maps and sections (with scales) and           including current 1:100k 
                              tabulations of intercepts should be included for any      scale geology has been 
                              significant discovery being reported These should         provided 
                              include, but not be limited to a plan view of drill 
                              hole collar locations and appropriate sectional 
                              views. 
==================  ===============================================================  ============================== 
 Balanced                                                                              All results have been 
  reporting              *    Where comprehensive reporting of all Exploration          reported 
                              Results is not practicable, representative reporting 
                              of both low and high grades and/or widths should be 
                              practiced to avoid misleading reporting of 
                              Exploration Results. 
==================  ===============================================================  ============================== 
 Other substantive                                                                     All data have been reported 
  exploration           *    Other exploration data, if meaningful and material, 
  data                       should be reported including (but not limited to): 
                             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                                                                               Based on results follow 
  work                   *    The nature and scale of planned further work (eg          up stream sediment and/or 
                              tests for lateral extensions or depth extensions or       soil geochemistry surveys 
                              large-scale step- out drilling).                          in conjunction with 
                                                                                        geological mapping and 
                                                                                        rock chip sampling programs 
                         *    Diagrams clearly highlighting the areas of possible       will be undertaken to 
                              extensions, including the main geological                 locate the source of 
                              interpretations and future drilling areas, provided       any gold mineralisation. 
                              this information is not commercially sensitive. 
==================  ===============================================================  ============================== 
 

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(END) Dow Jones Newswires

December 01, 2020 04:17 ET (09:17 GMT)

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