TIDMTHR
RNS Number : 4263B
Thor Mining PLC
10 June 2021
10 June 2021
THOR MINING PLC
DRILLING COMMENCES
Alford East Copper-Gold ISR Project, South Australia
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce the commencement of drilling at
Alford East Copper-Gold Project, SA.
Project highlights:
-- 2000m diamond drilling program has commenced,
-- This drilling program focuses on depth extension and
structural delineation of the northern mineralised domains of the
Alford East copper-gold deposit (Figure 1),
-- Thor Mining awarded A$300,000 from the South Australia
Government under the Accelerated Discovery Initiative (ADI) which
will be partially used for resource drilling,
-- Core and water samples will be collected for
hydrometallurgical test work as part of the In Situ Recovery (ISR)
assessment process.
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"Thor is excited about commencing its maiden drilling program at
Alford East, where our geology teams' new geological model strongly
indicates new weathering boundaries opening up copper oxide
mineralisation potential at depth and along strike.
At a time when the copper price is at decade highs, Thor is fast
tracking the exploration and development of the Alford East copper
project. We look forward to updating the marketing with drilling
results in the coming weeks.
Thor have developed an educational, explanatory video on In Situ
Recovery and how it will be utilised at our Alford East Copper Gold
Project. ISR is an environmentally sustainable technique which
reduces the impact of mining activities on the land, as well as
mining costs associated with the extraction of ore. Thor is
delighted to be at the forefront of the industry with regards to
the implementation of this technology".
The video can be found on the Thor website and Thor YouTube
channel via this link:
https://www.youtube.com/watch?v=eG_1ZGD0WIw
A copy of the Tenement and Prospect Location Plan may be viewed
via the following link:
http://www.thormining.com/sites/thormining/media/maps/21-001-4-ae-mre-%E2%80%93-location.jpg
The Alford East Copper-Gold Project is located on EL6529, where
Thor is earning up to 80% interest from unlisted Australian
explorer Spencer Metals Pty Ltd, covering portions of EL6255 and
EL6529 (Figure 1) (THR:ASX 23 November 2020).
The Alford East Project covers the northern extension the Alford
Copper Belt, located on the Yorke Peninsula SA. The Alford Copper
Belt is a semi coherent zone of copper-gold oxide mineralization,
within a structurally controlled, north-south corridor consisting
of deeply kaolinized and oxidized troughs within metamorphic units
on the edge of the Tickera Granite (Figure 1), Gawler Craton,
SA.
Based on historic drillhole information Thor completed an
inferred Mineral Resource Estimate (MRE) (THR:ASX 27 January
2021):
-- 125.6Mt @ 0.14% Cu containing 177,000t of contained
copper
-- 71, 500oz of contained gold
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
This MRE demonstrates the initial size of the oxide copper-gold
opportunity with significant potential to grow the MRE along strike
and at depth.
Drilling Program
This initial 2000m diamond drilling program focusses only on the
northern portion of the Alford East copper gold deposit around the
Netherleigh Park and AE5 mineralised domains.
Historic aircore drilling often stopped on blade refusal
(silcrete horizon), with only a number of deeper diamond holes
extending to fresh rock, hence this initial drilling program is
designed to test the depth extent of the oxide mineralisation,
adjacent and along strike of these mineralised diamond hole.
In addition, drill holes will be placed along strike of the
Netherleigh Park and AE5 mineralised zones to confirm strike extent
and continuity of the mineralization.
A new geological model comprising trough and ridge style of
faulting has developed from 3D modelling of geology. This modelling
has identified new weathering boundaries and highlighted key
structures controlling and offsetting mineralisation (figure 2).
Planned holes are hence designed to expand potential weathered
zones where the top of fresh rock has yet to be intersected in
drilling and validate the controlling mineralised structures.
The diamond drilling program will be carried out by GMP
Exploration Drilling Pty Ltd.
During the drilling program groundwater analysis and core
samples will be collected for hydrometallurgical and groundwater
studies. The hydrometallurgical work will be undertaken by Mining
and Process Solutions Pty Ltd (MPS) with water analysis by
Groundwater Science Pty Ltd. The key objective of the initial
metallurgical work is to develop the best lixiviant formulation for
the oxide copper-gold mineralisation of Alford East deposit in the
context of an ISR based approach. Understanding the ground water
characteristics especially pH and chemical composition is essential
for the lixiviant trials and any potential ISR development.
In conjunction with the technical assessment Thor will continue
ongoing stakeholder and community engagement, and regulatory
activities.
A plan view showing the Eight Mineralised Domains and an
overview of the framework of the new weathering model at
Netherleigh Park, may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/Maps/ae-_-initial-drilling_np.jpg
Cross sections showing the interpreted trough-and-ridge style of
faulting, with planned drilling may be viewed via the following
link:
http://www.thormining.com/sites/thormining/media/maps/ae-_-initial-drilling_np---sections.jpg
- Ends -
For further information on the Company, please visit
www.thormining.com or contact the following:
Thor Mining PLC
Nicole Galloway Warland, Managing Director Tel: +61 (8) 7324 1935
Mick Billing, Executive Chairman Tel: +61 (8) 7324 1935
Ray Ridge, CFO / Company Secretary Tel: +61 (8) 7324 1935
WH Ireland Limited (Nominated Adviser Tel: +44 (0) 207 220
and Joint Broker) 1666
Jessica Cave / Darshan Patel
Jasper Berry (Corporate Broking)
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483 413
500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004
9512
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.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR; OTCQB: THORF) is a diversified
resource company quoted on the AIM Market of the London Stock
Exchange, ASX in Australia and OTCQB Market in the United
States.
The Company is advancing its diversified portfolio of precious,
base, energy and strategic metal projects across USA and Australia.
Its focus is on progressing its copper, gold, uranium and vanadium
projects, while seeking investment/JV opportunities to develop its
tungsten assets.
Thor owns 100% of the Ragged Range Project, comprising 92 km(2)
of exploration licences with highly encouraging early stage gold
and nickel results in the Pilbara region of Western Australia, for
which drilling is planned in the first half of 2021.
At Alford East in South Australia, Thor is earning an 80%
interest in copper deposits considered amenable to extraction via
In Situ Recovery techniques (ISR). In January 2021, Thor announced
an Inferred Mineral Resource Estimate of 177,000 tonnes contained
copper & 71,000 oz gold(1).
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 and the
Alford West copper project, both situated in South Australia and
both considered amenable to recovery by way of ISR.(2)(3)
Thor holds 100% interest in two private companies with mineral
claims in the US states of Colorado and Utah with historical
high-grade uranium and vanadium drilling and production
results.
Thor holds 100% of the advanced Molyhil tungsten project,
including indicated and inferred resources , in the Northern
Territory of Australia, which was awarded Major Project Status by
the Northern Territory government in July 2020.
Adjacent to 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.
Thor holds 100% of the Pilot Mountain tungsten project in
Nevada, USA which has a JORC 2012 Indicated and Inferred Resources
Estimate on 2 of the 4 known deposits.
Notes
(1)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
(2)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(3)
www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(4)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20191011-molyhil-mineral-resource-estimate-enhanced.pdf
(5)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20162017/20170522-tungsten-resource-increase.pdf
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20182019/20181214-pilot-mountain-resource-update.pdf
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