TIDMTHR

RNS Number : 4453D

Thor Mining PLC

29 June 2021

29 June 2021

THOR MINING PLC

POSITIVE PRELIMINARY COPPER RESULTS

Alford East Copper-Gold ISR Project, South Australia

The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are pleased to advise positive preliminary internal copper results from early stages of diamond drilling at Alford East Copper-Gold Project, SA.

Project highlights:

-- 2 diamond holes completed at Alford East Copper-Gold Project (Figure 1): 21AED001 and 21AED002 (Figure 2).

-- pXRF copper readings from an inhouse pXRF analyser, highlight wide downhole intercepts above the Mineral Resource Estimate (MRE) grades (Table A). Intercepts include:

-- 106.5m @ 0.14% Cu (pXRF) from 8m (21AED001), including

33m @ 0.40% Cu (pXRF) from 81.5m (21AED001)

-- 55.5m @ 0.28% Cu (pXRF) from 28m (21AED002)

-- Whilst preliminary and indicative only, drilling to date validates the current geological model and structural controls on mineralisation. Core is currently being cut ready for sample submission to laboratory for analytical analysis.

-- 21AED001 was drilled in the centre of AE-5 Domain of the Mineral Resource Estimate (MRE), confirming the MRE envelope and the interpreted Top of Fresh Rock (TOFR) contact (Figure 3). This contact is critical for potential In Situ Recovery (ISR) of the copper and gold from the weathered oxide resource.

-- 21AED002 was drilled (20m) to the north of AE-5 Domain outside of the MRE envelope, thus extending the limits of known mineralisation.

-- This 2000m diamond drilling program focuses only on the of the northern mineralised domains of the Alford East copper-gold deposit (Figure 1), targeting depth extension, higher copper-gold grades, and structural delineation.

Nicole Galloway Warland, Managing Director of Thor Mining, commented:

" Thor is excited by these preliminary pXRF results. The validation of the geological model and structural controls on mineralisation has a significant impact on subsequent drilling and the confidence level of any future Mineral Resource Estimates. The step out of 21AED002 and confirmation of a wide copper intercept, highlights the potential to increase the current Mineral Resource Estimate."

Important notice:

An inhouse Vanta Series C portable X-ray fluorescent (pXRF) analyser was used to take copper readings and are indicative only. Core is currently being cut ready for sample submission to laboratory for analytical analysis including gold assay. The core preparation and sample processing time at the laboratory is anticipated to take approximately 6 weeks, for this reason the Directors have elected to update the market with preliminary internal pXRF results.

The Directors believe that with adequate sample preparation the pXRF analyser will yield high-quality analytical data. However, there can be no guarantee that this method provides accurate results similar to those from the laboratory analysis. The results from the laboratory may not confirm these initial pXRF readings.

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

Project Background

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 (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.

Utilising historic drillhole information, Thor completed an inferred Mineral Resource Estimate (MRE) (THR:AIM 26 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

Based on the nature on the oxide mineralisation, the deposit is considered amenable to In Situ Recovery (ISR) techniques.

For further information on ISR please refer to Thor website via this link for an informative video:

https://www.youtube.com/watch?v=eG_1ZGD0WIw

Drilling Program Update

Two drillholes 21AED001 and 21AED002 totalling 256m are now complete, out of a 2000m diamond drilling program. This initial program for Thor focusses only on the northern portion of the Alford East copper-gold deposit around the AE5 and Netherleigh Park mineralised domains (Table A), with both initial holes testing AE-5 domain.

Table A: Alford East Mineral Resource Estimate as at 22 January 2021, with AR-5 and Netherleigh Park domains the focus of the current drilling program highlighted.

 
       Domain          Tonnes     Cu %    Au g/t    Contained Cu   Contained 
                        ( Mt)                            (t)        Au (oz) 
            AE_1        24.6      0.12     0.021       30,000       16,000 
                      --------  -------  --------  -------------  ---------- 
            AE_2         6.8      0.13     0.004       9,000         1,000 
                      --------  -------  --------  -------------  ---------- 
            AE_3        34.9      0.09     0.022       33,000       25,000 
                      --------  -------  --------  -------------  ---------- 
            AE_4         8.0      0.11     0.016       8,000         4,000 
                      --------  -------  --------  -------------  ---------- 
            AE_5        11.0      0.22     0.030       24,000       11,000 
                      --------  -------  --------  -------------  ---------- 
         Sub -Total     85.3      0.12     0.021      104,000       57,000 
                      --------  -------  --------  -------------  ---------- 
             NP         31.3      0.19     0.008       61,000        8,000 
                      --------  -------  --------  -------------  ---------- 
            LW_E         7.7      0.14     0.025       10,000        6,000 
                      --------  -------  --------  -------------  ---------- 
            LW_W         1.3      0.13     0.011       2,000           500 
                      --------  -------  --------  -------------  ------------ 
         Sub -Total     40.3      0.18     0.011       73,000        14,500 
                      --------  -------  --------  -------------  ------------ 
              Total      125.6     0.14     0.018      177,000        71,500 
                      --------  -------  --------  -------------  ------------ 
 
 

Note: MRE reported on Oxide material only, at a cut-off grade of 0.05% Copper which is consistent with the assumed In Situ Recovery technique .

Table B: Drill Collar Locations

 
     Drill          Easting      Northing      Azimuth-mag      Dip              RL      EOH 
      Hole ID 
 
   21AED001        763,730      6,256,360     360(0)             *    90(0)     50      156.17 
                -----------  ------------  ---------------  ---------------  ------  --------- 
 
   21AED002        763,910      6,256,600     90(0)              *    70(0)     50      98.85 
                -----------  ------------  ---------------  ---------------  ------  --------- 
 

*GDA94 MGA53

A plan view showing the Alford East Project's eight mineralised domains and an a drillhole location plan of AE-5, may be viewed via the following link:

http://www.thormining.com/sites/thormining/media/banners/ae-5-drillhole-location-plan.jpg

An inhouse Vanta Series C portable X-ray fluorescent (pXRF) analyser was used to take readings every 0.5m down each of the holes. The pXRF copper readings are indicative only (Appendix 1), with samples being submitted to laboratory for analytical analysis including gold assay.

Copper intercepts include:

-- 21AED001: 106.5m @ 0.14% Cu (pXRF) from 8m, including 33m @ 0.40% Cu (pXRF) from 81.5m

-- 21AED002: 55.5m @ 0.28% Cu (pXRF) from 28m

21AED0001

Preliminary results for 21AED001 validate the new geological model including the interpreted position of the Top of Fresh Rock (TOFR), a critical contact in respect to ISR of oxide copper and gold mineralisation. The validation of the geological model is vitally important for future drill targeting and geological resource modelling. The geological model predicts that the control on copper mineralisation is a NE-SW fault that may join AE-5 to Netherleigh Park mineralisation.

A Cross section showing 21AED001 may be viewed via the following link:

http://www.thormining.com/sites/thormining/media/Maps/aed001.jpg

In addition, the copper intercepts were all positioned within the interpreted Mineral Resource Estimate envelope (Figure 4).

A Cross section showing 21AED001 MRE envelope may be viewed via the following link:

http://www.thormining.com/sites/thormining/media/Maps/aed001.jpg

Follow up drill holes adjacent to 21AED001 are planned to test areas 'open at depth' and potentially associated with the north-northeast controlling structure to the east of 21AED001.

A Cross section showing follow up drillholes adjacent to 21AED001 may be viewed via the following link:

http://ww.thormining.com/sites/thormining/media/pdf/research-reports/ae-5-planned-drillholes.jpg

21AED0002

21AED002 steps out of the AE-5 resource area by approximately 20m to the north, hence the preliminary pXRF results are highly significant, as they highlight copper mineralisation extending north into the open zone between AE-5 and Netherleigh Park (Figure 6 & 7).

A Cross section showing 21AED002 may be viewed via the following link:

http://www.thormining.com/sites/thormining/media/pdf/research-reports/21aed002.jpg

A Cross section showing 21AED002 with MRE envelope projected to section may be viewed via the following link:

http://www.thormining.com/sites/thormining/media/pdf/research-reports/aed002_mre.jpg

Copper oxide mineralogy in the drill holes comprises malachite, chalcocite, native copper and atacamite crystals.

Nominal 1m half core samples from AED001 and AED002 are currently being prepared for laboratory submission at Bureau Veritas (BV) labs in Adelaide.

- 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                                                                         Diamond drilling programme. 
  techniques        *    Nature and quality of sampling (eg cut channels,          pXRF readings taken 
                         random chips, or specific specialised industry            very 0.5m down the hole. 
                         standard measurement tools appropriate to the             Vanta C Series 800427 
                         minerals under investigation, such as down hole gamma     XRF -40sec reading time. 
                         sondes, or handheld XRF instruments, etc). These          Instrument calibrated 
                         examples should not be taken as limiting the broad        externally annually 
                         meaning of sampling.                                      and with QA/QC at start 
                                                                                   prior to sampling and 
                                                                                   calibration disc every 
                    *    Include reference to measures taken to ensure sample      30 readings 
                         representivity and the appropriate calibration of any 
                         measurement tools or systems used. 
 
 
                    *    Aspects of the determination of mineralisation that 
                         are Material to the Public Report. 
 
 
                    *    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                                                                         Diamond drilling - GMP 
  techniques        *    Drill type (eg core, reverse circulation, open-hole       drilling Pty Ltd. 
                         hammer, rotary air blast, auger, Bangka, sonic, etc)      0-6m open hammer - transported 
                         and details (eg core diameter, triple or standard         cover sequence. 
                         tube, depth of diamond tails, face-sampling bit or        HQ standard tube diamond 
                         other type, whether core is oriented and if so, by        drilling 
                         what method, etc). 
                --------------------------------------------------------------  --------------------------------- 
 Drill sample                                                                     Core recovery assessed 
  recovery          *    Method of recording and assessing core and chip           and measured relative 
                         sample recoveries and results assessed.                   to drill rod measurements. 
                                                                                   No significant sample 
                                                                                   loss or bias has been 
                    *    Measures taken to maximise sample recovery and ensure     noted in current drilling. 
                         representative nature of the samples.                     No relationship is known 
                                                                                   to exist between sample 
                                                                                   recovery and grade 
                    *    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                                                                          All core is logged in 
                    *    Whether core and chip samples have been geologically      a qualitative nature 
                         and geotechnically logged to a level of detail to         - geologically logged 
                         support appropriate Mineral Resource estimation,          (lithology, structure, 
                         mining studies and metallurgical studies.                 alteration, veining, 
                                                                                   mineralization weathering, 
                                                                                   colour and other features 
                    *    Whether logging is qualitative or quantitative in         of the core). 
                         nature. Core (or costean, channel, etc) photography.      Core photography completed 
                                                                                   prior to core cutting. 
                                                                                   All drill samples are 
                    *    The total length and percentage of the relevant           measured for magnetic 
                         intersections logged.                                     susceptibility at 1m 
                                                                                   intervals, and XRF readings 
                                                                                   taken every 0.5m. 
                --------------------------------------------------------------  --------------------------------- 
 Sub- sampling                                                                    pXRF readings taken 
  techniques        *    If core, whether cut or sawn and whether quarter,         on whole (HQ) core prior 
                         half or all core taken.                                   to cutting. 
 
 
                    *    If non-core, whether riffled, tube sampled, rotary 
                         split, etc and whether sampled wet or dry. 
 
 
                    *    For all sample types, the nature, quality and 
                --------------------------------------------------------------  --------------------------------- 
 
 
  Criteria            JORC Code explanation                                           Commentary 
 and sample           appropriateness of the sample preparation 
  preparation          technique. 
                        *    Quality control procedures adopted for all 
                             sub-sampling stages to maximise representivity of 
                             samples. 
 
 
                        *    Measures taken to ensure that the sampling is 
                             representative of the in situ material collected, 
                             including for instance results for field 
                             duplicate/second-half sampling. 
 
 
                        *    Whether sample sizes are appropriate to the grain 
                             size of the material being sampled. 
                    --------------------------------------------------------------  --------------------------------- 
 Quality                                                                              Handheld pXRF readings 
  of assay              *    The nature, quality and appropriateness of the            reported. 
  data and                   assaying and laboratory procedures used and whether       Vanta Series C 40 second 
  laboratory                 the technique is considered partial or total.             reading time. 
  tests                                                                                Instrument calibrated 
                                                                                       at start, QAQC with 
                        *    For geophysical tools, spectrometers, handheld XRF        2 standards and 1 blank 
                             instruments, etc, the parameters used in determining      every 30 readings. External 
                             the analysis including instrument make and model,         instrument calibration 
                             reading times, calibrations factors applied and their     completed annually. 
                             derivation, etc.                                          Readings taken every 
                                                                                       0.5m down hole 
 
                        *    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                                                                         All drilling data is 
  of sampling           *    The verification of significant intersections by          collected in a series 
  and assaying               either independent or alternative company personnel.      of templates in excel 
                                                                                       including geological 
                                                                                       logging, sample information, 
                        *    The use of twinned holes.                                 collar and survey information, 
                                                                                       All data is digitally 
                                                                                       recorded in the company's 
                        *    Documentation of primary data, data entry procedures,     electronic database. 
                             data verification, data storage (physical and             No adjustments have 
                             electronic) protocols.                                    been made to the pXRF 
                                                                                       assay data. 
                                                                                       All significant intersections 
                        *    Discuss any adjustment to assay data.                     have been verified by 
                                                                                       an alternative company 
                                                                                       geologist. 
                                                                                       There are no twinned 
                                                                                       drillholes 
                    --------------------------------------------------------------  --------------------------------- 
 Location                                                                             Collars picked up using 
  of data               *    Accuracy and quality of surveys used to locate drill      handheld GPS - MGA94 
  points                     holes (collar and down-hole surveys), trenches, mine      zone 53 (GDA) used. 
                             workings and other locations used in Mineral Resource     Down hole survey readings 
                             estimation.                                               taken every 6m with 
                                                                                       Boart Longyear Truman 
                                                                                       multi shot camera 
                        *    Specification of the grid system used. 
 
 
                        *    Quality and adequacy of topographic control. 
                    --------------------------------------------------------------  --------------------------------- 
 Data spacing                                                                         pXRF readings taken 
  and distribution      *    Data spacing for reporting of Exploration Results.        every 0.5m down the 
                                                                                       hole. 
                                                                                       Sample spacing is considered 
                        *    Whether the data spacing and distribution is              appropriate to allow 
                             sufficient to establish the degree of geological and      confident interpretation 
                             grade continuity appropriate for the Mineral Resource     of exploration results 
                             and Ore Reserve estimation procedure(s) and               No sample compositing 
                             classifications applied.                                  has been applied 
 
 
                        *    Whether sample compositing has been applied. 
                    --------------------------------------------------------------  --------------------------------- 
 Orientation                                                                          Drill holes were oriented 
  of data               *    Whether the orientation of sampling achieves unbiased     vertical or 090 degrees 
  in relation                sampling of possible structures and the extent to         which is perpendicular 
  to geological              which this is known, considering the deposit type.        to strike of the geological 
  structure                                                                            trough. 
                                                                                       Orientational bias is 
                        *    If the relationship between the drilling orientation      not applicable this 
                             and the orientation of key mineralised structures is      stage with sampling 
                             considered to have introduced a sampling bias, this       every 0.5m downhole 
                             should be assessed and reported if material. 
                    --------------------------------------------------------------  --------------------------------- 
 Sample security                                                                      Samples were trucked 
                        *    The measures taken to ensure sample security.             from Alford to Adelaide, 
                                                                                       to Challenger Geological 
                                                                                       Services for cutting 
                                                                                       and prep, prior to submission 
                                                                                       to Bureau Veritas, Adelaide 
                                                                                       for analysis. 
                    --------------------------------------------------------------  --------------------------------- 
 
 
  Criteria        JORC Code explanation                                      Commentary 
 Audits                                                                      No formal audits have 
  or reviews        *    The results of any audits or reviews of sampling     been undertaken 
                         techniques and data. 
              -----------------------------------------------------------  ----------------------- 
 

Section 2 Reporting of Exploration Results

 
  Criteria      JORC Code explanation                                           Commentary 
 Mineral                                                                        Alford East project: 
 tenement          *    Type, reference name/number, location and ownership      *    The JV area covers portions EL6255 and ELA2020/00019 
 and land               including agreements or material issues with third            which are 100% owned by Spencer Metals Ltd. 
 tenure                 parties such as joint ventures, partnerships, 
 status                 overriding royalties, native title interests, 
                        historical sites, wilderness or national park and        *    PML 268 for aggregate & sand lies within 
                        environmental settings.                                       ELA2020/00019 
 
 
                   *    The security of the tenure held at the time of           *    There are no non-government royalties, historical 
                        reporting along with any known impediments to                 sites or environmental issues. 
                        obtaining a licence to operate in the area. 
 
                                                                                 *    Underlying land title is Freehold land which 
                                                                                      extinguishes native title. 
 
 
                                                                                All tenure in good standing. 
              --------------------------------------------------------------  ------------------------------------------------------------ 
 Exploration                                                                    The general area of 
 done by           *    Acknowledgment and appraisal of exploration by other     this report has been 
 other                  parties.                                                 explored in the past 
 parties                                                                         by various companies 
                                                                                 including Jododex, Uranez, 
                                                                                 North Broken Hill, MIM, 
                                                                                 Hillgrove Resources, 
                                                                                 Argonaut Resources and 
                                                                                 Sandfire Resources. 
                                                                                 Activities include AC, 
                                                                                 RC, & Diamond drilling, 
                                                                                 and significant geophysical 
                                                                                 surveying. The Company 
                                                                                 has reviewed past exploration 
                                                                                 data generated by these 
                                                                                 companies. 
              --------------------------------------------------------------  ------------------------------------------------------------ 
 Geology                                                                        Primary deposits in 
                   *    Deposit type, geological setting and style of            the region are considered 
                        mineralisation.                                          to be of Iron Oxide 
                                                                                 Copper Gold (IOCG) affinity, 
                                                                                 related to the 1590Ma 
                                                                                 Hiltaba/GRV event. Cu-Au-Mo-Pb 
                                                                                 mineralisation is structurally 
                                                                                 controlled and associated 
                                                                                 with significant metasomatic 
                                                                                 alteration and deep 
                                                                                 weathering or kaolinisation 
                                                                                 of host rocks. 
                                                                                 Locally, the low-grade 
                                                                                 copper/gold oxide mineralisation 
                                                                                 that forms the basis 
                                                                                 for this Exploration 
                                                                                 results announcement, 
                                                                                 is hosted within variably 
                                                                                 weathered and sheared 
                                                                                 metasedimentary basement 
                                                                                 lithologies. 
              --------------------------------------------------------------  ------------------------------------------------------------ 
 Drill hole                                                                     Drillhole information 
 Information       *    A summary of all information material to the             is included in report, 
                        understanding of the exploration results including a     with Table B summarising 
                        tabulation of the following information for all          drillhole collar information. 
                        Material drill holes:                                    Plan and sections showing 
                                                                                 drillhole locations 
                                                                                 is included in report 
                  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                                                                           Intersections are calculated 
 aggregation      *    In reporting Exploration Results, weighting averaging     by simple averaging 
 methods               techniques, maximum and/or minimum grade truncations      of 0.5m assays. 
                       (eg cutting of high grades) and cut-off grades are        No metal equivalents 
                       usually Material and should be stated.                    are reported. 
 
 
                  *    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                                                                               The copper oxide 
  between mineralisation      *    These relationships are particularly important in the    mineralization 
  widths and                       reporting of Exploration Results.                        is associated with intense 
  intercept                                                                                 clay alteration. The 
  lengths                                                                                   alteration is interpreted 
                              *    If the geometry of the mineralisation with respect to    to be similar to that 
                                   the drill hole angle is known, its nature should be      found in the adjacent 
                                   reported.                                                Alford West area. 
                                                                                            The drilling intersections 
                                                                                            quoted are downhole 
                              *    If it is not known and only the down hole lengths are    intercept lengths with 
                                   reported, there should be a clear statement to this      an unknown orientation 
                                   effect (eg 'down hole length, true width not known').    to dip and plunge of 
                                                                                            the target mineralisation 
                          --------------------------------------------------------------  ---------------------------- 
 Diagrams                                                                                   Appropriate maps and 
                               *    Appropriate maps and sections (with scales) and          sections included in 
                                    tabulations of intercepts should be included for any     document. 
                                    significant discovery being reported These should 
                                    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                                                                               pXRF results to be 
                               *    The nature and scale of planned further work (eg        followed 
                                    tests for lateral extensions or depth extensions or     up by laboratory assays. 
                                    large-scale step- out drilling).                        Drilling to continue 
                                                                                            along sections and areas 
                                                                                            open to the north and 
                               *    Diagrams clearly highlighting the areas of possible     south. 
                                    extensions, including the main geological               Refer to diagram in 
                                    interpretations and future drilling areas, provided     document for geological 
                                    this information is not commercially sensitive.         interpretation and 
                                                                                            potential 
                                                                                            extensions. 
                          --------------------------------------------------------------  ---------------------------- 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DRLSEFSIUEFSEEM

(END) Dow Jones Newswires

June 29, 2021 02:00 ET (06:00 GMT)

Thor Energy (LSE:THR)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Thor Energy Charts.
Thor Energy (LSE:THR)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Thor Energy Charts.