TIDMTHR
RNS Number : 8807I
Thor Mining PLC
07 December 2022
07 December 2022
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
Thor Mining PLC
("Thor" or the "Company")
Ragged Range Project, WA
High-grade Copper and Gold confirmed at Kelly's NE Prospect
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to provide an exploration update on rock chip
sampling at the Kelly's NE Prospect at the Company's 100% owned
Ragged Range Project, located in Eastern Pilbara, Western
Australia.
Project highlights:
-- At the Kelly's NE Prospect, rock chip sampling has identified
high-grade gold (up to 7.2g/t ) and copper ( 13.6% ) along
north-south trending structures, similar to the Kelly's Ridge area
(Figure 1).
-- Highest-grade rock chips include:
-- 7.2g/t Au, 11.4% Cu, 102g/t Ag (R00148)
-- 2.6 g/t Au, 13.6 % Cu, 123g/t Ag (R00147)
-- 4.1g/t Au, 0.63 % Cu, 19.2g/t Ag (R00145)
-- 1.0g/t Au, 4.65% Cu, 67.8 g/t Ag (R00146)
-- Geological mapping and geochemical sampling will continue
over the project area as the Company validates its structural and
mineralising geological models.
-- Remaining Reverse Circulation "RC" drilling results pending,
including two holes that targeted this rock chip area.
Photo 1: Rock chip R00147: Malachite & azurite in quartz
breccia - 2.6g/t Au, 13.6% Cu & 123g/t Ag
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"The Kelly's NE area was defined in recent airborne magnetics
and a compilation of previous exploration work. Despite significant
soil anomalies being defined in the area, no drilling has been
undertaken at the prospect. Rock chip sampling has now confirmed
high-grade copper with significant gold and silver. I am looking
forward to further exciting results being returned at this
prospect."
Sampling Program
In parallel with the recently completed RC drilling at the
Kelly's Prospect (ASX/AIM: THR 26 October 2022), nine rock chip
samples were collected across the Kelly's NE Prospect area (Figure
1 and 2, Table A).
Thor's sampling program targeted surface copper mineralisation
(malachite) associated with north-south trending quartz breccia
veins with limonite-jarosite alteration after sulphides (Photo 1).
High-grade gold (up to 7.2 g/t), copper (up to 13.6%) and silver
(up to 123g/t), with anomalous lead (Pb) and zinc (Zn) have been
identified (Table A).
These recent rock chip samples demonstrating gold and copper
mineralisation +Ag-Pb-Zn indicate a very different style of
mineralisation to the Archaean Lode gold, over at the Sterling
Prospect. Sampling and mapping will continue over the area.
Photo 2: Rock chip samples R00147 (left) and R00148 (right)
Table A: Rock Chip Samples
Project - GDA94 Zone 50
SAMPLE Northing Easting Au Cu Ag Pb Zn
========= ======== ==== ===== ===== =======
Number g/t % g/t ppm(1) ppm
======== ========= ======== ==== ===== ===== ======= ====
R00145 7587513 798090 4.1 0.63 19.2 1100 44
======== ========= ======== ==== ===== ===== ======= ====
R00146 7587511 798091 1.0 4.65 67.8 283 172
======== ========= ======== ==== ===== ===== ======= ====
R00147 7587424 798124 2.6 13.6 123 1060 766
======== ========= ======== ==== ===== ===== ======= ====
R00148 7587388 798115 7.2 11.4 102 585 154
======== ========= ======== ==== ===== ===== ======= ====
R00149 7587230 798265 0.0 0.02 40 635 74
======== ========= ======== ==== ===== ===== ======= ====
R00150 7587555 798573 0.0 0.10 1 9 206
======== ========= ======== ==== ===== ===== ======= ====
R00151 7587681 798375 0.0 0.13 1.2 93 86
======== ========= ======== ==== ===== ===== ======= ====
R00152 7585351 795071 0.1 0.13 1 4 146
======== ========= ======== ==== ===== ===== ======= ====
R00153 7585424 795096 0.0 0.02 1 42 250
======== ========= ======== ==== ===== ===== ======= ====
(1.) 1ppm = 0.0001%
Figure 1: Sample location map.
Next Steps
The following activities and results at Ragged Range are
anticipated over the coming weeks:
1. Await final Kelly's RC drilling assay results.
2. Continue to review and model data over the Kelly's area.
3. Continue reconnaissance sampling over ground in the northern
portion of tenure for prospective lithium caesium-tantalum enriched
(LCT) pegmatites
.
Figure 2: Ragged Range Tenement Location Map showings priority
prospects.
The Ragged Range Project, located in the prospective Eastern
Pilbara Craton, Western Australia, is 100% owned by Thor Mining
(covering E46/1190, E46/1262, E46/1355, E46/1340 and E46/1393,
Figure 2).
This announcement is authorised for release to the market by the
Board of Directors.
For further information, please contact:
THOR MINING PLC
Nicole Galloway Warland , Managing Director
+61 8 7324 1935
nicole@thormining.com
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.
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.
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 measured, indicated and inferred resources , in the
Northern Territory of Australia, which was awarded Major Project
Status by the Northern Territory government in July 2020. Thor
executed a $8m Farm-in and Funding Agreement with Investigator
Resources Limited (ASX: IVR) to accelerate exploration at the
Molyhil Project on 24(th) November 2022.(6)
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's interest in the
Bonya tenement EL29701 is planned to be divested as part of the
Farm-in and Funding agreement with Investigator Resources
Limited.(6)
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/20210408-molyhil-mineral-resource-estimate-updated.pdf
(5)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(6)
https://thormining.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf
1 JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
Sampling Rock chip sampling was
techniques * Nature and quality of sampling (eg cut channels, based on geological
random chips, or specific specialised industry outcrops, with analysis
standard measurement tools appropriate to the for Au by 25g fire assay
minerals under investigation, such as down hole gamma FA001 and multi-element
sondes, or handheld XRF instruments, etc). These by MA101/2 four acid
examples should not be taken as limiting the broad digest.
meaning of sampling.
* Include reference to measures taken to ensure sample
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 Not applicable - no
techniques * Drill type (eg core, reverse circulation, open-hole drilling reported
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 - no
recovery * Method of recording and assessing core and chip drilling reported
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 Lithological description
and geotechnically logged to a level of detail to recorded for all samples
support appropriate Mineral Resource estimation, collected
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. 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 resource
and distribution * Data spacing for reporting of Exploration Results. 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 and rockchip sampling
to geological which this is known, considering the deposit type. at this stage
structure
* 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 Geochemistry samples
security * The measures taken to ensure sample security. were trucked back from
Nullagine to the Bureau
Veritas Adelaide, SA
Sample Security levels
are considered appropriate
for preliminary surface
geochemistry assessment.
==================== =============================================================== =================================
Audits None undertaken
or reviews * The results of any audits or reviews of sampling
techniques and data.
================== =============================================================== ===================================
Section 2 Reporting of Exploration Results
Mineral tenement Exploration results are
and land tenure * Type, reference name/number, location and ownership reported on E46/1393
status including agreements or material issues with third in Western Australia
parties such as joint ventures, partnerships, held 100% by Pilbara
overriding royalties, native title interests, Goldfields Pty Ltd, Thor
historical sites, wilderness or national park and Mining PLC.
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 Sporadic surface
done by other * Acknowledgment and appraisal of exploration by other geochemistry
parties parties. over tenure carried out
by Great Southern Mines
up to 1997.
======================== ============================================================== ============================
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 Sample locations listed
tabulation of the following information for all in Table A
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 rock chip assays
methods * In reporting Exploration Results, weighting averaging have been reported. There
techniques, maximum and/or minimum grade truncations 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.
* assumptions used for any reporting of metal
equivalent
* The 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 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 has 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 work It is anticipated that
* The nature and scale of planned further work (eg follow up and
tests for lateral extensions or depth extensions or reconnaissance
large-scale step- out drilling). geochemistry (rockchip,
soil & stream) and
geological
* Diagrams clearly highlighting the areas of possible mapping will be undertaken
extensions, including the main geological over tenure , including
interpretations and future drilling areas, provided Sterling and Kelly's
this information is not commercially sensitive. prospects. With follow
up drilling
======================== ============================================================== ============================
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