TIDMTHR
RNS Number : 3128W
Thor Energy PLC
11 December 2023
11 December 2023
Thor Energy PLC
("Thor" or the "Company")
Copper Recoveries Advance In-Situ Recovery Assessment
Alford East Copper-REE Project, South Australia
The directors of Thor Energy Plc ("Thor" or the "Company") (AIM,
ASX: THR, OTCQB: THORF) are pleased to announce positive
metallurgical copper recovery results, advancing Thor's In-Situ
recovery ("ISR") assessment of the Alford East Copper-REE Project,
South Australia.
Highlights:
-- Copper recoveries of up to 72.2% using a benign
environmentally friendly glycine lixiviant - GlyLeach(TM). This is
an excellent result for ISR-style copper recovery.
-- Four mini-column leach tests ("MCLT's") were conducted to
give an accurate determination of the leaching performance and the
recovery of copper from drill core samples from 21AEDD005, Alford
East (Figure 1) with actual copper recovered shown in Photo 1.
-- Alford East's saline groundwater was used in column testing
to replicate potential ISR conditions and provide a more accurate
leaching performance. The groundwater had no significant impact on
recoveries.
Photo 1: Week 3 - Pregnant Liquor Solution ("PLS") containers
and copper-loaded Ion Exchange Resin
Nicole Galloway Warland, Managing Director of Thor Energy,
commented:
"The successful completion of the hydrometallurgical mini-column
tests; returning favourable copper recoveries of up to 72.2% are
above the standard range of 60-70% for an ISR operation. These
results are highly encouraging, as Thor advances the ISR assessment
of the Alford East Copper-REE-Gold Project.
"As part of Thor's commitment to sustainable exploration
activities, we are pleased to be using Glyleach (TM) as a lixiviant
during the ISR process. Compared to the conventional sulphuric acid
that is often used, Glyleach (TM) is an economical and
environmentally friendly alternative, helping Thor to develop a
low-cost, low-environmental footprint ISR copper operation.
"Thor continues to work with Fleet Space Technologies to merge
the Ambient Noise Tomography ("ANT") 3D model with Thor's 3D
geological model. The resultant 3D model highlights low-velocity
drill targets, which potentially represent higher grade
copper-REE-Gold targets, associated with deep structurally
controlled troughs. As part of a future drilling program, Thor will
be including additional water bores for pump testing, and push/pull
test work as it continues to advance ISR assessment at Alford East
towards in-ground lixiviant trials (Site Environmental Lixiviant
Trials). These are currently underway at EnviroCopper's Kapunda
Project, in which Thor holds 30% equity. We look forward to
updating the market with further developments."
Photo 2: Mini Columns setup
Figure 1: Alford East Location Map showing the lateral extent of
the Alford Copper Belt (left), and the Alford East Mineral Resource
Domains showing the area for initial ANT Surveys (right)
Next Steps:
1. Modelling of ANT results incorporating Thor's 3D model and
using artificial intelligence to extrapolate controlling structures
along the Alford Copper Belt - in progress
2. Target generation from the final 3D Model
3. Drill preparations and drilling
4. REE samples to be submitted to ANSTO for recovery potential from kaolin clays
5. Pump testing and preparations for push/pull connectivity
testing, followed by Site Environmental Lixiviant Trial
Mini Column Leach Testing (MCLT's)
Thor engaged Draslovka to undertake a program of work to
evaluate Draslovka's GlyLeach(TM) process, focusing on copper
extraction from a 7.3m intersection selected from drillhole
21AED005 (Figure 1). This sample was selected as representative of
copper oxide mineralisation within Mineral Resource Estimate Domain
Area 5 (MRE 5) from Thor's 2021 drill program (ASX/AIM: 26 April
2023):.
GlyLeach(TM) is an environmentally benign, hydrometallurgical
process that can leach copper, nickel, cobalt and zinc from oxide,
mixed oxide and supergene ores, and even primary sulphide ores. In
the right conditions, it can also leach gold.
Glycine is the simplest amino acid and is available in bulk
quantities. Its unique properties can offer substantial advantages
over conventional lixiviants:
-- Environment/safety: Glycine is non-toxic to humans as well as
wildlife
-- Selectivity: Glycine will solubilise copper, nickel, cobalt,
and zinc, while iron, manganese, silicates, and carbonates remain
in the solid phase
-- Alkalinity: Leach conditions are at high pH, allowing simple
and inexpensive materials for construction
-- Mild conditions: Leaching is typically at ambient
temperature, with no heating cost or pressure vessels
-- Low consumption: Glycine is non-volatile (unlike cyanide,
ammonia, and hydrochloric acid) and stable under process
conditions
-- Recycle: Glycine is not chemically consumed in the overall
process. It is easily recovered and recycled, and process losses
can be minimised by good design
The metallurgical test work included a copper sequential
analysis, diagnostic Leach Tests (DLTs) (ASX/AIM: 22 February 2022)
and Mini Column Leach Tests (MCLT's) on the sample provided (Table
1). This testwork determines which copper species can be leached by
different solutions. For instance, sulphuric acid (used in copper
leaching projects) will easily leach most of the green and blue
copper species; however, it will take time to leach native copper,
chalcocite, and covellite. Copper sulphide species will eventually
be taken into solution by sulphuric acid, but the time frame is
considered too long for ISR-type operations.
Based on the copper sequential analysis by Australian Laboratory
Services (Table 2), Drasloka anticipated the GlyLeach(TM) process
is likely to leach all the cyanide soluble copper, a portion
(20-80%) of the acid soluble copper and minor amount (<10%) of
silicate locked copper, depending on the mineralogy where 22% to
67% would be expected to be leach from the supplied sample (Table
2).
Figure 2: Draslovka Testwork Flow-wheel
Table 1: Head Grade - Gold (fire assay) and Copper (4 acid
digest)- 21AED005 20-27.3m
Table 2: Copper Sequential Analysis
Mini Column Leach Tests were undertaken by Drasloka, designed to
give a preliminary indication of extractions for typical heap or
ISR conditions at Alford East. Small acrylic columns (ID: 45mm)
were used to allow visual observation of the sample charge as the
leach solution percolates. Each column is around 1m high and held
1.3kg per column of agglomerated sample percolated at 10 L/m(2) /hr
in close circuit, where the PLS was sampled and then put through
resin before returning to feed tank.
Four MCLT's were carried out with conditions given below:
-- Test 1 : Agglomerated with 10.0 kg/t of Normal Portland
Cement ("NPC") and leached with GlyLeachTM using 36.78 g/L of
glycine in total, column was started with Gly:Cu molar ratio of
2:1
-- Test 2: Agglomerated with 10.0 kg/t of NPC and leached with
GlyLeachTM using 55.15 g/L of glycine in total, column was started
with Gly:Cu molar ratio of 3:1
-- Test 3: Agglomerated with 10.0 kg/t of NPC and leached with
GlyLeachTM using 55.15 g/L of glycine in total, column was started
with Gly:Cu molar ratio of 3:1, column was also heated to 40degC
using heating strips
-- Test 4: Agglomerated with 10.0 kg/t of NPC and leached with
GlyLeachTM using 55.15 g/L of glycine in total, column was started
with Gly:Cu molar ratio of 3:1 and converted to GlyCatTM after two
weeks by adding 1.92 g/L of cyanide
Overall, the highest copper extraction was observed in column 2
at 72.2% copper recovery (Figure 3). Column 1 achieved 69.3%,
column 3 achieved 71.7% and column 4 achieved 66.8% based on the
residue analysis.
Referring to Figure 3, the best gold recovery was achieved in
column 4 at 25.0%, column 1 achieved 21.5%, column 2 achieved
20.5%, and column 3 achieved 22.7% gold extraction based on residue
analysis. Given the extraction had plateaued after 42 days, an
additional 15% more glycine was added into the feed solution of
each test to see if this would increase copper recovery, but the
results indicated no further change. Column 3, which was heated,
showed no benefit over column 2 as it performed under ambient
temperature. It was found that adding cyanide (Test 4) improved the
gold extraction by approximately 5%.
The test work demonstrates GlyLeach(TM) ability to recover
copper with excellent recoveries, up to 72.2%. The temperature had
negligible impact and whilst the addition of cyanide improved the
gold extraction, it was considered a marginal improvement. Under
these leach conditions, it was determined that a copper extraction
of 72.2% is achievable. It is recommended that a larger sample is
tested to validate what extraction can be achieved at a coarser
crush or in-situ recovery environment. With further optimisation,
recoveries ranging from 70 - 75% might be attainable.
Figure 3: THOM-02 Metal Extraction - Mini Columns Summary
(A-1-Residual (R) /Assayed Head(AH))
GlyLeach(TM) ability to recover copper with good recoveries, up
to 72.2%, supersedes the accepted range of 60-70% for ISR
operations (Figure 4). Based on CAPEX and OPEX costs, recovering
metal in an ISR operation in comparison to conventional mining
(open cut or underground operation) enables lower metal recoveries
whilst maintaining equal or similar profit margins.
Figure 4: Comparison of ISR and Conventional Mining after Chris
du Plessis, AMIRA presentation 2014
Alford East Project Background
The Alford East Copper-Ree Project is located on EL6529, where
Thor is earning up to 80% interest from unlisted Australian
explorer Spencer Metals Pty Ltd, covering portions of EL6255 and
EL6529 (Figure 2) (ASX/AIM: 20 November 2020).
The Alford East Project covers the northern extension of the
Alford Copper Belt, located on the Yorke Peninsula, SA. The Alford
Copper Belt is a semi-coherent zone of copper-gold oxide
mineralisation, within a structurally controlled, north-south
corridor consisting of deeply kaolinised and oxidised troughs
within metamorphic units on the edge of the Tickera Granite (Figure
2), Gawler Craton, SA.
Thor completed an inferred Mineral Resource Estimate (MRE) by
utilising historic drill hole information. Table C - (ASX/AIM: 27
January 2021):
-- 125.6Mt @ 0.14% Cu containing 177,000t of contained copper
-- 71, 500oz of contained gold
https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/
Table C: Alford East Mineral Resource Estimate as of 22 January
2021- Figure 2 ( (ASX/AIM: 27 January 2021)
Domain Tonnes Cu % Au g/t Contained Contained Au
(Mt) Cu (t) (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
------- ----- ------- ---------- -------------
AE-8 (NP) 31.3 0.19 0.008 61,000 8,000
------- ----- ------- ---------- -------------
AE-7 (LW_E) 7.7 0.14 0.025 10,000 6,000
------- ----- ------- ---------- -------------
AE-6 (LW_W) 1.3 0.13 0.011 2,000 500
------- ----- ------- ---------- -------------
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.
REE results were reported from the 2021 diamond drilling
program, with significant drill intercepts (>500ppm TREO ([1]) )
including (ASX/AIM: 26 April 2023):
o 21AED005: 36.7m @ 1568ppm (0.16%) TREO & 1.2% Cu from 6.3m,
including 11.8m @ 2095 ppm (0.21%) TREO and 1.2% Cu from 10m, and
11m @ 2088ppm (0.21%) TREO and 0.8% Cu from 47m,
including 2m @ 5042ppm (0.5%) TREO from 47m
o 21AED002: 11.6m @ 1699ppm (0.17%) TREO and 0.26% Cu from 30.4m
including 6.1m @ 2262ppm (0.22%) TREO from 34.0m
o 21AED001: 16.8m @ 1721ppm (0.17%) TREO and 0.5% Cu from 91.4m
The Board of Thor Energy Plc has approved this announcement and
authorised its release.
For further information, please contact:
Thor Energy PLC
Nicole Galloway Warland, Managing Director Tel: +61 (8) 7324
1935
Ray Ridge, CFO & Company Secretary
Tel: +61 (8) 7324
1935
WH Ireland Limited (Nominated Adviser and Tel: +44 (0) 207
Joint Broker) 220 1666
Antonio Bossi / Darshan Patel / Isaac Hooper
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483
413 500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Shivantha Thambirajah / Tel: +44 (0) 20
Bessie Elliot 3004 9512
Competent Person's 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 Energy 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 https://thorenergyplc.com which includes a facility
to register to receive these updates by email, and on the Company's
X page @thorenergyplc
About Thor Energy Plc
The Company is focused on uranium and energy metals that are
crucial in the shift to a 'green' energy economy. Thor has a number
of highly prospective projects that give shareholders exposure to
uranium, nickel, copper, lithium and gold. Our projects are located
in Australia and the USA.
Thor holds 100% interest in three uranium and vanadium projects
(Wedding Bell, Radium Mountain and Vanadium King) in the Uravan
Belt Colorado and Utah, USA with historical high-grade uranium and
vanadium drilling and production results.
At Alford East in South Australia, Thor holds 80% interest in
oxide copper deposits considered amenable to extraction via In Situ
Recovery techniques (ISR). In January 2021, Thor announced an
Inferred Mineral Resource Estimate(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 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.
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 A$8m Farm-in and Funding Agreement with Investigator
Resources Limited (ASX: IVR) to accelerate exploration at the
Molyhil Project on 24 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)
https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/
(2)
www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(3)
www.thorenergyplc.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(4)
https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/
(5)
www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(6)
https://thorenergyplc.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
Criteria JORC Code explanation Commentary
Sampling Diamond drilling program
techniques * Nature and quality of sampling (eg cut channels, with half core sampled
random chips, or specific specialised industry for Au fire assay FA001
standard measurement tools appropriate to the and Aqua Regia 48 element
minerals under investigation, such as down hole gamma suite AR001. Samples
sondes, or handheld XRF instruments, etc). These submitted to Bureau
examples should not be taken as limiting the broad Veritas (BV), SA. Standard
meaning of sampling. blank and duplicate
inserted every 30 samples
pXRF readings taken
* Include reference to measures taken to ensure sample very 0.5m down the
representivity and the appropriate calibration of any hole.
measurement tools or systems used. Vanta C Series 800427
XRF -40sec reading
time.
* Aspects of the determination of mineralisation that Instrument calibrated
are Material to the Public Report. externally annually
and with QA/QC at start
prior to sampling and
* In cases where 'industry standard' work has been done calibration disc every
this would be relatively simple (eg 'reverse 30 readings
circulation drilling was used to obtain 1 m samples All co-ordinates are
from which 3 kg was pulverised to produce a 30 g in UTM grid (GDA94
charge for fire assay'). In other cases more Z53) and drill hole
explanation may be required, such as where there is collars have been surveyed
coarse gold that has inherent sampling problems. by DGPS to an accuracy
Unusual commodities or mineralisation types (eg of 0.1m. Down holes
submarine nodules) may warrant disclosure of detailed surveys using Truman
information. with readings every
6m.
Diamond samples were
collected at geologically
defined intervals (minimum
sample length 0.1m,
maximum sample length
1.5m) for all drill
holes in the current
program Samples are
cut using an automated
diamond saw and half
core is submitted for
analysis at Bureau
Veritas, SA. The sample
size is deemed appropriate
for the grain size
of the material being
sampled.
Mineralisation is determined
by descriptive geological
logs for diamond hole
as well as the incorporation
of assay results and
pXRF readings
-------------------------------------------------------------- --------------------------------
Drilling Diamond drilling -
techniques * Drill type (eg core, reverse circulation, open-hole GMP drilling Pty Ltd.
hammer, rotary air blast, auger, Bangka, sonic, etc) B&D Multi 35 Rig
and details (eg core diameter, triple or standard 0-6m open hammer -
tube, depth of diamond tails, face-sampling bit or transported cover sequence.
other type, whether core is oriented and if so, by HQ standard tube diamond
what method, etc). drilling
-------------------------------------------------------------- --------------------------------
Drill Core recovery assessed
sample * Method of recording and assessing core and chip and measured relative
recovery sample recoveries and results assessed. to drill rod measurements
into laptop computer.
HQ single tube drilling
* Measures taken to maximise sample recovery and ensure through weathered zone
representative nature of the samples. to maximise sample
recovery. The sample
recovery and condition
* Whether a relationship exists between sample recovery is recorded every meter.
and grade and whether sample bias may have occurred Generally, core recovery
due to preferential loss/gain of fine/coarse is 98-100%, but occasionally
material. drops to 70% in friable
clays zones due to
compaction and/or broken
ground. No relationship
is known to exist between
sample recovery and
grade
-------------------------------------------------------------- --------------------------------
Logging All core is qualitative
* Whether core and chip samples have been geologically geologically logged
and geotechnically logged to a level of detail to (lithology, structure,
support appropriate Mineral Resource estimation, alteration, veining,
mining studies and metallurgical studies. mineralization weathering,
colour and other features
of the core).
* Whether logging is qualitative or quantitative in Core photography completed
nature. Core (or costean, channel, etc) photography. prior to core cutting
and after
Core (and intersections)
* The total length and percentage of the relevant logged based on geological,
intersections logged. lithological and structural
boundaries.
All drill samples are
measured for magnetic
susceptibility at 1m
intervals, and XRF
readings taken every
0.5m.
-------------------------------------------------------------- --------------------------------
Criteria JORC Code explanation Commentary
-------------------------------------------------------------- --------------------------------
Sub- sampling Half core samples submitted
techniques * If core, whether cut or sawn and whether quarter, for laboratory analysis.
and sample half or all core taken. Diamond core was given
preparation up to two weeks to
dry out, prior to cutting
* If non-core, whether riffled, tube sampled, rotary and sample prep.
split, etc and whether sampled wet or dry. Sampling is carried
out using standard
protocols and QAQC
For all sample types, the nature, quality procedures as per industry
and appropriateness of the sample preparation practice.
technique. Field QAQC procedures
* Quality control procedures adopted for all involved the use of
sub-sampling stages to maximise representivity of certified standards,
samples. blanks and duplicate
sample submitted every
25 samples. These are
* Measures taken to ensure that the sampling is routinely checked against
representative of the in situ material collected, originals.
including for instance results for field Handheld pXRF readings
duplicate/second-half sampling. reported.
pXRF readings taken
on whole (HQ) core
* Whether sample sizes are appropriate to the grain at 0.5m intervals prior
size of the material being sampled. to cutting.
Vanta Series C 40 second
reading time.
Instrument calibrated
at start, QAQC with
2 standards and 1 blank
every 30 readings.
External instrument
calibration completed
annually.
Readings taken every
0.5m down hole
-------------------------------------------------------------- --------------------------------
Quality Diamond core sampled
of assay * The nature, quality and appropriateness of the through potential copper
data and assaying and laboratory procedures used and whether and gold zones.
laboratory the technique is considered partial or total. Samples submitted to
tests Bureau Veritas for
50g fire assay and
* For geophysical tools, spectrometers, handheld XRF Aqua Regia multi-element
instruments, etc, the parameters used in determining analysis.
the analysis including instrument make and model, Internal certified
reading times, calibrations factors applied and their laboratory QAQC is
derivation, etc. undertaken including
check samples, blanks
and internal standards
* Nature of quality control procedures adopted (eg Handheld pXRF readings
standards, blanks, duplicates, external laboratory reported.
checks) and whether acceptable levels of accuracy (ie Vanta Series C 40 second
lack of bias) and precision have been established. reading time.
Instrument calibrated
at start, QAQC with
2 standards and 1 blank
every 30 readings.
External instrument
calibration completed
annually.
Readings taken every
0.5m down hole
-------------------------------------------------------------- --------------------------------
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 assay
data.
All significant intersections
* Discuss any adjustment to assay data. have been verified
by an alternative company
geologist.
There are no twinned
drillholes
Rare earth element
analyses were originally
reported in elemental
form but have been
converted to relevant
oxide concentrations
as in the industry
standard.
TREO = La(2) O(3) +
CeO(2) + Pr(6) O11
+ Nd(2) O(3) +Sm(2)
O(3) + Eu(2) O(3) +
Gd(2) O(3) + Tb(4)
O(7) + Dy(2) O(3) +
Ho(2) O(3) + Er(2)
O(3) + Tm(2) O(3) +
Yb(2) O(3) + Lu(2)
O(3) + Y(2) O(3)
-------------------------------------------------------------- --------------------------------
Location Collars picked up using
of data * Accuracy and quality of surveys used to locate drill DGPS - MGA94 zone 53
points holes (collar and down-hole surveys), trenches, mine (GDA) used. Down hole
workings and other locations used in Mineral Resource survey readings taken
estimation. every 6m with Boart
Longyear Truman multi
shot camera
* Specification of the grid system used.
* Quality and adequacy of topographic control.
-------------------------------------------------------------- --------------------------------
Data spacing Drillhole data spacing
and distribution * Data spacing for reporting of Exploration Results. is considered appropriate
to allow confident
interpretation of exploration
* Whether the data spacing and distribution is results.
sufficient to establish the degree of geological and pXRF readings taken
grade continuity appropriate for the Mineral Resource every 0.5m down the
and Ore Reserve estimation procedure(s) and hole. 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 (090 degrees)
in relation sampling of possible structures and the extent to or 070 towards 090degrees
to geological which this is known, considering the deposit type. which is perpendicular
structure to strike of the geological
trough. Orientational
* If the relationship between the drilling orientation bias is not applicable
and the orientation of key mineralised structures is this stage with half
considered to have introduced a sampling bias, this core samples taken
should be assessed and reported if material. across full mineralised
zone and pXRF sampling
every 0.5m downhole
-------------------------------------------------------------- --------------------------------
Sample Samples were trucked
security * 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.
-------------------------------------------------------------- --------------------------------
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 E6529 which are 100%
and land including agreements or material issues with third owned by Spencer Metals Ltd.
tenure status parties such as joint ventures, partnerships,
overriding royalties, native title interests,
historical sites, wilderness or national park and * PML 268 lies within E6529
environmental settings.
* There are no non-government royalties, historica
* The security of the tenure held at the time of l
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 parties. explored in the past
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 Plan and sections showing
tabulation of the following information for all drillhole locations
Material drill holes: 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 Weighted averaging
aggregation * In reporting Exploration Results, weighting averaging technique is used for
methods techniques, maximum and/or minimum grade truncations reporting exploration
(eg cutting of high grades) and cut-off grades are assay results,
usually Material and should be stated. No metal equivalents
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 values should be clearly stated
-------------------------------------------------------------- --------------------------------------------------------
Criteria JORC Code explanation Commentary
-------------------------------------------------------------- --------------------------------------------------------
Relationship The gold & REE's are
between * These relationships are particularly important in the associated with copper
mineralisation reporting of Exploration Results. oxide mineralization
widths and within intense clay
intercept alteration. The alteration
lengths * If the geometry of the mineralisation with respect to is interpreted to be
the drill hole angle is known, its nature should be similar to that found
reported. in the adjacent Alford
West area.
The drilling intersections
* If it is not known and only the down hole lengths are quoted are downhole
reported, there should be a clear statement to this intercept lengths with
effect (eg 'down hole length, true width not known'). an unknown orientation
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 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 All data have been
substantive * Other exploration data, if meaningful and material, reported
exploration should be reported including (but not limited to):
data 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 Additional work will
work * The nature and scale of planned further work (eg be carried to define
tests for lateral extensions or depth extensions or the known extent of
large-scale step- out drilling). the REE from historic
drilling. Drilling,
hydrogeological and
* Diagrams clearly highlighting the areas of possible metallurgical studies
extensions, including the main geological to continue.
interpretations and future drilling areas, provided Refer to diagram in
this information is not commercially sensitive. document for geological
interpretation and
potential extensions.
-------------------------------------------------------------- --------------------------------------------------------
[1] TREO = (Total Rare Earth Oxides) = (La(2) O(3) + CeO(2) +
Pr(6) O(11) + Nd(2) O(3) +Sm(2) O(3) + Eu(2) O(3) + Gd(2) O(3) +
Tb(4) O(7) + Dy(2) O(3) + Ho(2) O(3) + Er(2) O(3) + Tm(2) O(3) +
Yb(2) O(3) + Lu(2) O(3) + Y(2) O(3) )
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
DRLGLBDDUXBDGXB
(END) Dow Jones Newswires
December 11, 2023 02:00 ET (07:00 GMT)
Thor Energy (LSE:THR)
Historical Stock Chart
From May 2024 to Jun 2024
Thor Energy (LSE:THR)
Historical Stock Chart
From Jun 2023 to Jun 2024