TIDMTHR
RNS Number : 7098C
Thor Mining PLC
23 June 2021
23 June 2021
THOR MINING PLC
EXPLORATION UPDATE
RAGGED RANGE, WA
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to provide an exploration update on the
Company's 100% owned Ragged Range Project, located in Eastern
Pilbara, Western Australia including the first soil results from
two reconnaissance soil surveys, at the Sterling Prospect.
Project highlights:
-- Gold in soil anomalism defined over 1.2km strike length (6
soil lines) and is open to the south and north in the central area
of the Sterling Prospect, close to the Euro Basalt and Dalton Suite
ultramafic contact.
-- Up to 114ppb Au in soil samples in the central area of the
Sterling Prospect. This is well above background and considered
highly significant.
-- Thor Mining awarded A$160,000 from the Western Australia
Government under the Government EIS Co-funded grants program, to
drill test stream and soil gold anomalies at Sterling Prospect.
-- New tenement application E46/1393 covering recently
surrendered mining lease, containing numerous historic copper-gold
workings associated with the Boolina porphyry close to the Corunna
Down Batholith. Historic production(1) between 1955-1970 although
small was of very high grade - 610t of ore averaging 19.47%
copper.
-- Infill soils and geochemical data analyses continuing, with
field mapping and regional soil and stream sampling program
scheduled to commence shortly over priority targets within the
anomalous 13km gold trend to further delineate coherent gold trends
prior to and concurrent with drill testing at the Sterling
Prospect.
-- Further geophysics is being assessed across the Ragged Range
tenement package to generate additional gold, copper and nickel
exploration targets.
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"These latest results are very promising for Thor as the gold
anomalism in soils supports the stream sediment results, with gold
clusters and trends forming in the Sterling Prospect. This confirms
the significant exploration potential for a quality gold discovery
at Ragged Range.
An old track into the prospect area is currently being upgraded
to allow for the exploration teams to work independently without
having to rely on helicopter support. This will speed up Thor's
field work and allow follow up soil sampling to be completed
quickly and will also allow access for a drilling rig.
We look forward to providing further updates on our continued
progress."
The Ragged Range Project, located in the prospective Eastern
Pilbara Craton, Western Australia is 100% owned by Thor Mining -
(E46/1190, E46/1262, E46/1355, E46/1340) with the recent additional
tenure surrounding the gold anomalous zones, E46/1393
(application).
A copy of the Project Map may be view via the following
link:
www.thormining.com/sites/thormining/media/Maps/20-004-1a-ragged-range-location.jpg
Sterling Prospect
As a follow-up to high-grade gold stream results reported from
sampling in 2019 and 2020 (THR:ASX announcement 1/12/2020), Thor
completed a 392-sample soil program, over two areas of the Sterling
Prospect; Sterling Central and Sterling South
https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20201201-high-grade-gold-in-stream-sediment-ragged-range.pdf
The samples were collected from a thin residual soil overlying
the Euro Basalt and extending westward over the ultramafic Dalton
Suite contact. Samples were spaced at 50m along traverses spaced
200m apart. This spacing was designed as a first pass, with
potential infill around areas of evaluated results.
At each sample site, two samples were collected and both sieved
to -2mm. The first sample of approximately 2kg was crushed at the
Intertek lab in Perth and a sub-split assayed for Au by an aqua
regia method AR25 and multi-element assaying by four acid digest
with MS25 finish.
The 1kg Bulk Leach Extractable Gold (BLEG) sample was assayed by
method CN1000 for gold only.
One orientation line was completed with an additional -80 mesh
soil sample collected, duplicating one soil line. The -80 mesh
results reported are consistent with the -2mm sampling method along
the same line. Blanks and other representative standards were
inserted for QA/QC.
Soil Results
The Au BLEG results report a background around 2- 3ppb Au with
sample values up to a maximum of 114.23ppb Au. This range is very
similar to the previous stream sediment sampling in the area. The
BLEG results are shown for the; Sterling Central and Sterling
South, on Figures 4. In Sterling Central one zone of gold anomalism
can be traced for 1.2km on six lines. The strike of this anomalism
is oblique to the Euro Basalt and Dalton Suite contact and suggests
that gold mineralisation is controlled by minor faults and
structures, in this area.
It should be noted that BLEG assaying is a partial digest method
whereby gold is extracted, using cyanide over a 24-hour period.
This is in contrast to a complete digest assaying method such as
fire assaying where all the sample is digested and the total gold
value is reported. BLEG values that report above background are
considered significant and will show trends of surface gold
anomalism. BLEG values that are over five times background (above
15ppb Au) are considered highly significant.
A copy of the Regional Sterling prospect may be viewed by the
following link:
www.thormining.com/sites/thormining/media/maps/21-004-1a-ragged-range-soilupdate-202106.jpg
A copy of the Sterling Central and Sterling South prospects may
be viewed by the following link:
www.thormining.com/sites/thormining/media/maps/ragged-range-central-and-south-sterling-soils.jpg
Significant results summaries in Table A.
Sample Easting Northing Tenement Au
ID ppb
(BLEG)
21RRS
7F 783000 7582102 E46/1262 22.32
--------- ---------- ---------- ---------
21RRS
55F 783400 7582500 E46/1262 55.46
--------- ---------- ---------- ---------
21RRS
91F 782800 7582695 E46/1262 24.86
--------- ---------- ---------- ---------
21RRS-181 782650 7583300 E46/1190 8.16
--------- ---------- ---------- ---------
21RRS-186 782400 7583300 E46/1262 34.19
--------- ---------- ---------- ---------
21RRS-205 780350 7587200 E46/1190 6.51
--------- ---------- ---------- ---------
21RRS-226 780250 7587000 E46/1190 8.9
--------- ---------- ---------- ---------
21RRS-228 780350 7587000 E46/1190 5.48
--------- ---------- ---------- ---------
21RRS-266 780350 7586650 E46/1262 114.23
--------- ---------- ---------- ---------
21RRS-280 781050 7586650 E46/1190 6.4
--------- ---------- ---------- ---------
21RRS-314 780200 7586275 E46/1262 17.44
--------- ---------- ---------- ---------
21RRS-315 780250 7586275 E46/1262 12.1
--------- ---------- ---------- ---------
MGA94 Zone 50 (GDA)
Nickel Gossan
Geological mapping of the nickel gossan which was previously
sampled in mid-2020 (THR: ASX announcement 31/7/20) confirmed that
the gossan extends over 1km and sits at the base of the Dalton
Suite (ultramafic units) adjacent to the older Felsic Volcanics of
the Wyman Formation. This position of the gossan at the base of the
ultramafic contact is significant from a geological nickel-sulphide
model perspective.
Prior to drill testing beneath the gossan, a ground
electromagnetic (EM) survey will be undertaken. Thor is currently
finalising this program.
https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200826-pilbara-goldfields-encouraging-nickel-assay-results.pdf
E46/1393- Kelly/Ryan Copper- Gold Prospects
A new tenement application E46/1393 in the northeast covers
recently surrender mining lease M46/171. This area covers several
history copper-gold and copper-base metals mines and prospects. The
copper mineralization is associated with the dacite Boolina
porphyry, close to the margin of the Corunna batholith, and
intrudes the Kelly greenstone belt.
At Kelly's Mine, historic production(1) between 1955-1970
although small was of very high grade - 610t of ore averaging
19.47%Cu.
Exploration to date has been sporadic, with no systematic
approach over the area. Thor will be targeting areas of
mineralisation, zones of alteration, shears/faults and zones of
brecciation.
(1) https://www.mindat.org/loc-122951.html
Photos of the historic copper working at Kelly's prospect may be
viewed on following link:
www.thormining.com/sites/thormining/media/maps/historic-workings-kelly-prospect.jpg
Next Steps
Infill soil sampling at a closer spacing of 100m x 25m will be
used to finalise drill targets. Further reconnaissance soil
sampling at 200m x 50m spacing will be continued along strike to
cover the 7km strike length of the Sterling Prospect where stream
sediment sampling has reported anomalous gold values. An existing
station track is being upgraded to allow for easier access.
Concurrent with drilling program, regional gold targets
including to the northwest and southeast of Sterling prospect, the
granitoid contact in the north, plus the copper-gold area in the
northeast (Kelly/Ryan Prospects) will be followed up with
reconnaissance stream and soil geochemistry programs. Government
and company geophysics is being used in conjunction with the
geochemical data, to assist with structural and lithological
targeting.
Thor Mining was awarded A$160,000 from the Western Australia
Government under the EIS Co-funded grants program to drill test
gold anomalies at Sterling Prospect.
Tenement and Prospect Location Map can be viewed with the
following link:
www.thormining.com/sites/thormining/media/maps/ragged-range---prospect-location-map.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
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, soil sampling collecting
random chips, or specific specialised industry a -2mm fraction for
standard measurement tools appropriate to the geochemical analysis
minerals under investigation, such as down hole gamma for Au by 1kg BLEG and
sondes, or handheld XRF instruments, etc). These Au by aqua regia AR25
examples should not be taken as limiting the broad (after crushing and
meaning of sampling. pulversing) and multi-element
MS25 analysis. One orientation
line of -80 mesh sieved
* Include reference to measures taken to ensure sample samples was also collected
representivity and the appropriate calibration of any and assayed by AR25.
measurement tools or systems used. Each rock chip sample
comprised 2- 5kg of
rock assayed for Au
* Aspects of the determination of mineralisation that (FA 50) and multi-element
are Material to the Public Report. 4 acid digestion. Two
BLEG stream sediment
samples were also collected
* In cases where 'industry standard' work has been done and assayed for Au by
this would be relatively simple (eg 'reverse the 1kg BLEG method
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 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
-------------------------------------------------------------- ---------------------------------
Criteria JORC Code explanation Commentary
-------------------------------------------------------------- ---------------------------------
and sample appropriateness of the sample preparation sediment geochemistry.
preparation technique. Field duplicates and
* Quality control procedures adopted for all blank samples were submitted
sub-sampling stages to maximise representivity of for assay with the other
samples. 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 soil
in relation sampling of possible structures and the extent to sampling at this stage
to geological which this is known, considering the deposit type. but samples were collected
structure along East -West lines
that are orientated
* If the relationship between the drilling orientation approximately perpendicular
and the orientation of key mineralised structures is to the assumed strike
considered to have introduced a sampling bias, this of gold mineralisation.
should be assessed and reported if material.
-------------------------------------------------------------- ---------------------------------
Sample security Samples were trucked
* The measures taken to ensure sample security. back from
Marble Bar to the Intertek
assay laboratory in
Perth.
-------------------------------------------------------------- ---------------------------------
Criteria JORC Code explanation Commentary
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.
-------------------------------------------------------------------------- -----------------------
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 aggregatio Only field observations
n 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
--------------------------------------------------------------- ---------------------------
Criteria JORC Code explanation Commentary
values should be clearly stated.
Relationship No drilling has been
between mineralisation * These relationships are particularly important in the undertaken or reported
widths and reporting of Exploration Results.
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 reporting All results have been
* 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
exploration * Other exploration data, if meaningful and material, reported
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 work Subject to assay results,
* The nature and scale of planned further work (eg it is anticipated that
tests for lateral extensions or depth extensions or follow up stream sediment
large-scale step- out drilling). geochemistry (soil)
and geological mapping
will be undertaken to
* Diagrams clearly highlighting the areas of possible locate the source of
extensions, including the main geological gold mineralisation.
interpretations and future drilling areas, provided
this information is not commercially sensitive.
-------------------------------------------------------------- ----------------------------
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