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Thor Mining PLC DRILL ASSAY RESULTS

21/04/2017 9:38am

UK Regulatory (RNS & others)


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TIDMTHR

RNS Number : 9763C

Thor Mining PLC

21 April 2017

21 April 2017

THOR MINING PLC

DRILL ASSAY RESULTS CONFIRM GARNET DEPOSIT & DESERT SCHEELITE EXTENSION PILOT MOUNTAIN, NEVADA USA

The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), is pleased to advise positive assay results from the recent drilling program at the Company's wholly owned Pilot Mountain tungsten project in Nevada, USA (Figure 1).

HIghlights:

-- Strong correlation with historical tungsten assays (Table 2) at the Garnet deposit is likely to allow the preparation of a maiden resource estimate for Garnet.

   --     Zinc mineralisation intersected at Garnet, not reported by previous explorers. 

-- Confirmation of mineralised extension to the Desert Scheelite resource to the east, with higher grade targets at depth.

Reprocessing of geophysical data (Figure 3) suggests significant eastern extension to the known Desert Scheelite lode and the potential for parallel lodes to the north of Desert Scheelite, which would be consistent with the known multiple lodes at the other Pilot Mountain deposits.

Significant Assays:

-- High grade tungsten and robust zinc from 17GRRC01: 3.8m @ 0.72%WO3 and 1.6%Zn from 45.0m, and 5.3m @ 1.0%WO3, 0.9%Zn from 83.1m.

-- Thick, near surface intersections from 17GRRC06: 6.1m @ 0.24%WO3 from 16.5m and 14.5m @ 0.31%WO3, 0.3%Zn from 25.9m.

Mr Mick Billing, Executive Chairman of Thor: "These very positive results are significant for the Pilot Mountain project. From here we will commission the preparation of a maiden resource estimate for the Garnet deposit, building upon the existing Pilot Mountain resource inventory.

"At Desert Scheelite we have extended the known mineralisation to the east, and have exciting targets for higher grade eastern extensions at depth along with potential for parallel zones immediately to the north."

Figure 1: Pilot Mountain location map

Figure 2: Desert Scheelite longitudinal projection showing location of 2017 drill intersection points and interpreted plunging higher grade drill target zone.

Figure 3: Combined IP and gravity data extending eastward of the known Desert Scheelite deposit highlighting potential eastern extensions and mineralisation to the north.

Link to Figure 1, 2 & 3.

http://www.rns-pdf.londonstockexchange.com/rns/9763C_-2017-4-21.pdf

Desert Scheelite

2017 Drilling at Desert Scheelite targeted potential up dip extensions of mineralisation from the high-grade intersection of DSDD015. Figure 4 shows the three holes relative to DSDD015 on a cross section at 424450mE. Holes 2 and 3 from 2017 lie to the east of the section but have been projected onto the section for display purposes.

The geology of the area remains consistent with strong skarn development at the near vertical contact between the Luning Formation calcareous sediments and the younger intruded quartz monzonite.

The results from 2017 holes have confirmed extensions to the known mineralisation and there is still a strong prospect of high grades to the east and down dip (Figure 2).

Results of the geophysical survey conducted in 2013 displayed in Figure 3 indicate strong potential for the Desert Scheelite mineralisation to extend several hundred metres further eastward of the DSDD015 position, and potential also exists for additional mineralisation to the hanging wall (north) of the known Desert Scheelite lode. Testing of these areas will be undertaken in subsequent drilling.

Figure 4: Desert Scheelite drill cross section showing 2017 drilling adjacent 2013 drillhole DSDD015

Table 1: Desert Scheelite drill hole summary

 
    Hole      Easting   Northing    Elevation   Azimuth   Dip    Hole      Intersection      Estimated 
     ID        (NAD83     (NAD83        (m                       depth      (Thor 2017)         True 
   (2017)       zone       zone        ASL)                       (m)                          width 
                11)        11) 
-----------  --------  ----------  ----------  --------  ----  -------  ------------------  ---------- 
                                                                         No mineralisation 
 17DS-RC01    424,455   4,248,320     1,923       179     -60   140.8       intersected 
-----------  --------  ----------  ----------  --------  ----  -------  ------------------  ---------- 
                                                                              177.1 - 
                                                                           184.7m (7.6m) 
 17DS-RC02    424,457   4,248,321     1,923       150     -75   207.6       @ 0.14%WO(3)       4.4m 
-----------  --------  ----------  ----------  --------  ----  -------  ------------------  ---------- 
                                                                         No mineralisation 
 17DS-RC03    424,458   4,248,319     1,923       138     -59   152.1       intersected 
-----------  --------  ----------  ----------  --------  ----  -------  ------------------  ---------- 
 

Garnet Prospect

Six holes were drilled to validate historic drill data from Union Carbide Corp drilling undertaken in the 1970's. Significant intercepts include:

   Hole 17GRRC01         3.8m @ 0.31%WO(3) and 2.2%Zn from 4.6m 

3.8m @ 0.72%WO(3) and 1.6%Zn from 45.0m

5.3m @ 1.0%WO(3) and 0.9%Zn from 83.1m

   Hole 17GRRC06         6.1m @ 0.24%WO(3) from 16.5m 

14.5m @ 0.31%WO(3) , 0.3%Zn from 25.9m

Drill intercepts from Garnet were generally consistent with the historic data as summarised in Table 2 below, although zinc mineralisation, intersected in each hole, has not previously been reported. The biggest discrepancy between new and historic intersections was apparent in Hole 17GRRC04. This is likely to be a result of differing hole collar locations rather than unreliable historic data.

Estimation of a maiden resource for the project will be undertaken by an independent consultant over the next few weeks.

The 2017 drilling at Garnet tested only a small area of the overall area covered by historic drilling (Figure 5). Over a square kilometre with existing historic drill intercepts remains to be tested by future drilling.

Figure 5: Map of the Garnet and Gunmetal prospect area. The 2017 Garnet drill holes tested less than a third of the total historic drill data over the entire Garnet and Gunmetal area.

Link to Figure 4 & 5.

http://www.rns-pdf.londonstockexchange.com/rns/9763C_1-2017-4-21.pdf

Table 2: Summary of Garnet drill hole intersections 2017 in comparison with historic drill data from Union Carbide Corp drilling conducted in the 1970's.

 
 Hole         Easting   Northing    Elevation   Intersection     Historic Intersection 
  ID           (NAD83     (NAD83        (m       (Thor 2017)      (UCC 1970's) 
  (2017)        zone       zone        ASL) 
                11)        11) 
-----------  --------  ----------  ----------  ---------------  ---------------------------- 
                                                4.6 - 8.4m 
                                                 (3.8m) @ 
                                                 0.31%WO(3)               3.2 - 7.1m 
 17GR-RC01    422,442   4,249,532     2135       , 2.2%Zn        GR-66     (3.9m) @0.5%WO(3) 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                45.0 - 48.8m              40.5 - 48.4m 
                                                 (3.8m) @                  (7.9m) @0.1%WO(3) 
                                                 0.72%WO(3) 
                                                 , 1.6%Zn 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                83.1 - 88.4m              83.6 - 88.5m 
                                                 (5.3m) @                  (4.9m) @ 
                                                 1.0%WO(3)                 0.5%WO(3) 
                                                 , 0.9%Zn 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                19.8 - 24.4m 
                                                 (4.6m) @ 
                                                 0.1%WO(3)                Not previously 
 17GR-RC02    422,526   4,249,694     2136       , 0.2%Zn        GR-119    recorded 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                32.8 - 40.4m              29.9 - 37.9m 
                                                 (7.6m) @                  (8.0m) @ 
                                                 0.23%WO(3)                0.5%WO(3) 
                                                 , 2.9%Zn 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                13.7 - 18.3m 
                                                 (4.6m) @                 18.9 - 26.5m 
                                                 0.17%WO(3)                (7.6m) @ 
 7GR-RC03     422,489   4,249,756     2130       , 0.6%Zn        GR-128    0.04%WO(3) 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                Not previously            29.9 - 31.1m 
                                                 recorded                  (1.4m) @ 
                                                                           0.4%WO(3) 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                42.7 - 51.1m              44.2 - 45.4m 
                                                 (8.4m) @                  (1.2m) @ 
                                                 0.18%WO(3)                0.12%WO(3) 
                                                 , 1.2%Zn                  and; 
                                                                           48.2 - 49.6m 
                                                                           (1.5m) @ 
                                                                           0.12%WO(3) 
                                               ---------------           ------------------- 
                                                56.4 - 58.7m              Not previously 
                                                 (2.3m) @                  recorded 
                                                 0.18%WO3, 
                                                 0%Zn 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                18.3 - 22.1m 
                                                 (3.8m) @                 14.0 - 18.6m 
                                                 0.35%WO(3)                (4.6m) @ 
 17GR-RC04    422,357   4,249,532     2163       , 0.1%Zn        GR-123    0.58%WO(3,) 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                6.9 - 8.4m                7.8 - 8.6m 
                                                 (1.5m) @                  (0.8m) @ 
 17GR-RC05    422,354   4,249,754     2158       0.06%WO(3)      GR-98     0.3%WO(3,) 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                14.5 - 16.0m              13.6 - 17.7m 
                                                 (1.5m) @                  (4.1m) @ 
                                                 0.17%WO(3)                0.28%WO(3) 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                17.5 - 18.3m              18.3 - 19.5m 
                                                 (0.8m) @                  (1.2m) @ 
                                                 0.09%WO(3)                0.5%WO(3) 
                                               ---------------           ------------------- 
                                                75.4 - 77.0m              Not previously 
                                                 (1.6m) @                  recorded 
                                                 0.14%WO(3) 
                                                 , 0.2%Zn 
                                               ---------------           ------------------- 
                                                80.8 - 83.1m              Not previously 
                                                 (2.3m) @                  recorded 
                                                 0.21%WO(3) 
                                                 , 
                                               ---------------           ------------------- 
                                                83.8 - 85.3m              Not previously 
                                                 (1.5m) @                  recorded 
                                                 0.11%WO(3) 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                6.1 - 9.1m 
                                                 (3.0m) @                 7.1 - 9.3m 
                                                 0.2%WO(3)                 (2.2m) @ 
 17GR-RC06    422,377   4,249,783     2158       , 0.1%Zn        GR-100    0.2%WO(3) 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                16.5 - 22.1m              11.5 - 19.7m 
                                                 (6.1m) @                  (8.2m) @ 
                                                 0.24%WO(3)                0.23%WO(3) 
                                                 , 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
                                                25.9 - 40.4m              25.4 - 34.9m 
                                                 (14.5m)                   (9.5m) @ 
                                                 @ 0.31%WO(3)              0.35%WO(3) 
                                                 , 0.3%Zn 
                                               ---------------           ------------------- 
                                                44.2 - 45.7m              Not previously 
                                                 (1.5m) @                  recorded 
                                                 0.21%WO(3) 
                                                 0.1%Zn 
-----------  --------  ----------  ----------  ---------------  -------  ------------------- 
 Note: - All holes were drilled vertical and 
  surveyed by north seeking gyroscopic down 
  hole tool; 
  - Intersection widths and true widths are 
  within rounding error for vertical holes 
  intersecting near horizontal 
  mineralisation. 
-------------------------------------------------------------------------------------------- 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

 
Mick Billing        +61 (8) 7324    Thor Mining          Executive 
                         1935        PLC                  Chairman 
Ray Ridge           +61 (8) 7324    Thor Mining          CFO/Company 
                         1935        PLC                  Secretary 
Colin Aaronson/    +44 (0) 207 383  Grant Thornton       Nominated 
 Daniel Bush/            5100        UK LLP               Adviser 
 Richard Tonthat 
Elliot Hance        +44 (0) 207382  Beaufort Securities  Joint Broker 
                     8300            Limited 
Nick Emerson        +44 (0) 1483    SI Capital Ltd       Joint Broker 
 / Andy Thacker        413 500 
Tim Blythe/        +44 (0) 207 138  Blytheweigh          Financial 
 Camilla Horsfall        3222                             PR 
 

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.

Competent Person's Report

The information in this report that relates to exploration results and exploration targets is based on information compiled by Richard Bradey, who holds a BSc in applied geology and an MSc in natural resource management and who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Bradey is an employee of Thor Mining PLC. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he 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'. Richard Bradey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

About Pilot Mountain

Thor's Pilot Mountain Project, acquired in 2014, is located approximately 200 kilometres south of the city of Reno and 20 kilometres east of the town of Mina located on US Highway 95.

The Pilot Mountain Project comprises four tungsten deposits: Desert Scheelite, Gunmetal, Garnet and Good Hope. All are in close proximity (three kilometres) to each other and have been subjected to small-scale mining activities at various times during the 20th century. Union Carbide acquired the project in 1978, for US$7.0 million (estimated at US$26million - US$40million in 2017 dollars), and conducted detailed exploration and feasibility activities until, following a global downturn in the tungsten industry in the 1980s, they suspended further work.

The Desert Scheelite deposit currently comprises 100% of the Pilot Mountain Resource estimate of 6.7Mt.

Table 3: Pilot Mountain Resource Summary 2014 (JORC 2012, announced 10 June 2014. 100% owned by Thor Mining Plc

 
   Desert      Resource          WO(3)                Ag                  Cu 
  Scheelite 
------------ 
                Tonnes     Grade   Contained   Grade   Contained   Grade   Contained 
                             %       metal      g/t      metal       %       metal 
                                      (t)                 (t)                 (t) 
------------  ----------  ------  ----------  ------  ----------  ------  ---------- 
  Indicated    6,090,000   0.31       18,900   24.2       150      0.16       10,000 
  Inferred       700,000   0.30        2,100    9.1       10       0.24        2,000 
------------  ----------  ------  ----------  ------  ----------  ------  ---------- 
    Total      6,790,000   0.31       21,000   22.8       160      0.17       12,000 
------------  ----------  ------  ----------  ------  ----------  ------  ---------- 
 

JORC Code, 2012 Edition - Table 1 report

Section 1 Sampling Techniques and Data

 
 Criteria            JORC Code explanation                                          Commentary 
------------------  -------------------------------------------------------------  --------------------------------- 
 Sampling                                                                           Reverse circulation 
  techniques           *    Nature and quality of sampling (eg cut channels,         drilling was used 
                            random chips, or specific specialised industry           to obtain samples. 
                            standard measurement tools appropriate to the            2kg subsamples were 
                            minerals under investigation, such as down hole gamma    taken using rotary 
                            sondes, or handheld XRF instruments, etc). These         splitter for logging 
                            examples should not be taken as limiting the broad       and laboratory analysis. 
                            meaning of sampling.                                     Chip tray samples 
                                                                                     were collected logged 
                                                                                     and and photographed. 
                       *    Include reference to measures taken to ensure sample 
                            representivity and the appropriate calibration of any    Desert Scheelite was 
                            measurement tools or systems used.                       sampled at 5 foot 
                                                                                     intervals and Garnet 
                                                                                     at 2.5 foot intervals. 
                       *    Aspects of the determination of mineralisation that 
                            are Material to the Public Report.                       Sample quality control 
                                                                                     procedures were utilised 
                                                                                     as described below. 
                       *    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                                                                           Reverse circulation 
  techniques           *    Drill type (eg core, reverse circulation, open-hole      drilling using a face 
                            hammer, rotary air blast, auger, Bangka, sonic, etc)     sampling hammer for 
                            and details (eg core diameter, triple or standard        Garnet and a tri-cone 
                            tube, depth of diamond tails, face-sampling bit or       roller bit for Desert 
                            other type, whether core is oriented and if so, by       Scheelite. 
                            what method, etc). 
------------------  -------------------------------------------------------------  --------------------------------- 
 Drill                                                                              QA/QC protocol has 
  sample               *    Method of recording and assessing core and chip          been adopted using 
  recovery                  sample recoveries and results assessed.                  certified reference 
                                                                                     material; certified 
                                                                                     blank material and 
                       *    Measures taken to maximise sample recovery and ensure    field duplicate samples 
                            representative nature of the samples.                    inserted at a rate 
                                                                                     of 15% or better. 
 
                       *    Whether a relationship exists between sample recovery    Sample recoveries 
                            and grade and whether sample bias may have occurred      have not been systematically 
                            due to preferential loss/gain of fine/coarse             quantified but appear 
                            material.                                                consistently high. 
------------------  -------------------------------------------------------------  --------------------------------- 
 Logging                                                                            Geology of the hole 
                       *    Whether core and chip samples have been geologically     cuttings was qualitative 
                            and geotechnically logged to a level of detail to        logged and photographed 
                            support appropriate Mineral Resource estimation,         over the entire hole 
                            mining studies and metallurgical studies.                length. 
 
 
                       *    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                                                                       Sampling was by rotary 
  techniques           *    If core, whether cut or sawn and whether quarter,        splitter. Also refer 
  and sample                half or all core taken.                                  to previous QAQC description 
  preparation                                                                        above. 
 
                       *    If non-core, whether riffled, tube sampled, rotary 
                            split, etc and whether sampled wet or dry. 
 
 
                       *    For all sample types, the nature, quality and 
                            appropriateness of the sample 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                                                                            Assaying was conducted 
  of assay             *    The nature, quality and appropriateness of the           by ALS Global minerals 
  data                      assaying and laboratory procedures used and whether      based in Reno Nevada. 
  and laboratory            the technique is considered partial or total.            Sample and assay method 
  tests                                                                              has previously been 
                                                                                     approved by independent 
                       *    For geophysical tools, spectrometers, handheld XRF       resource estimate 
                            instruments, etc, the parameters used in determining     practitioner. 
                            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                                                                       Program holes intersect 
  of sampling          *    The verification of significant intersections by         in the vicinity of 
  and assaying              either independent or alternative company personnel.     previously drill mineralisation 
                                                                                     and show strong correlation 
                                                                                     between both geology 
                       *    The use of twinned holes.                                and assay 
 
 
                       *    Documentation of primary data, data entry procedures, 
                            data verification, data storage (physical and 
                            electronic) protocols. 
 
 
                       *    Discuss any adjustment to assay data. 
------------------  -------------------------------------------------------------  --------------------------------- 
 Location                                                                           No mineral resource 
  of data              *    Accuracy and quality of surveys used to locate drill     estimate has been 
  points                    holes (collar and down-hole surveys), trenches, mine     reported. 
                            workings and other locations used in Mineral Resource    Downhole surveys have 
                            estimation.                                              been conducted using 
                                                                                     north seeking gyroscopic 
                                                                                     down hole tool. 
                       *    Specification of the grid system used.                   Collar location have 
                                                                                     been determined by 
                                                                                     US registered surveyor 
                       *    Quality and adequacy of topographic control.             using differential 
                                                                                     GPS 
------------------  -------------------------------------------------------------  --------------------------------- 
 Data                                                                               No resource estimate 
  spacing              *    Data spacing for reporting of Exploration Results.       has been reported. 
  and distribution 
 
                       *    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                                                                        Drilling direction 
  of data              *    Whether the orientation of sampling achieves unbiased    was appropriate for 
  in relation               sampling of possible structures and the extent to        the orientation of 
  to geological             which this is known, considering the deposit type.       mineralisation 
  structure                                                                          Estimated true widths 
                                                                                     have been supplied 
                       *    If the relationship between the drilling orientation     where required. 
                            and the orientation of key mineralised structures is 
                            considered to have introduced a sampling bias, this 
                            should be assessed and reported if material. 
------------------  -------------------------------------------------------------  --------------------------------- 
 Sample                                                                             Locked in a secure 
  security             *    The measures taken to ensure sample security.            shed until sent for 
                                                                                     assay. 
------------------  -------------------------------------------------------------  --------------------------------- 
 Audits                                                                             None undertaken. 
  or reviews           *    The results of any audits or reviews of sampling 
                            techniques and data. 
------------------  -------------------------------------------------------------  --------------------------------- 
 

Section 2 Reporting of Exploration Results

 
 Criteria          JORC Code explanation                                            Commentary 
----------------  ---------------------------------------------------------------  ---------------------------- 
 Mineral                                                                            100% Thor Mining plc 
  tenement           *    Type, reference name/number, location and ownership        mineral leases cover 
  and land                including agreements or material issues with third         the Desert Scheelite 
  tenure                  parties such as joint ventures, partnerships,              prospect area. 
  status                  overriding royalties, native title interests, 
                          historical sites, wilderness or national park and          No known impediments 
                          environmental settings.                                    to licence an operation. 
 
 
                     *    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                                                                        Pre - 2012 data is 
  done               *    Acknowledgment and appraisal of exploration by other       treated as historic 
  by other                parties.                                                   data and used as a 
  parties                                                                            guide only unless 
                                                                                     validated. 
                                                                                     Pre-existing data 
                                                                                     post-2012 complies 
                                                                                     with JORC 2012 code. 
----------------  ---------------------------------------------------------------  ---------------------------- 
 Geology                                                                            Contact metamorphic 
                     *    Deposit type, geological setting and style of              skarn hosted tungsten. 
                          mineralisation. 
----------------  ---------------------------------------------------------------  ---------------------------- 
 Drill                                                                              Drill hole summary 
  hole                  *    A summary of all information material to the            tables provided. 
  Information                understanding of the exploration results including a 
                             tabulation of the following information for all 
                             Material drill holes: 
 
 
                       o easting and northing 
                       of the drill hole collar 
                       o elevation or RL (Reduced 
                       Level - elevation above 
                       sea level in metres) of 
                       the drill hole collar 
                       o dip and azimuth of the 
                       hole 
                       o down hole length and 
                       interception depth 
                       o hole length. 
                        *    If the exclusion of this information is justified on 
                             the basis that the information is not Material and 
                             this exclusion does not detract from the 
                             understanding of the report, the Competent Person 
                             should clearly explain why this is the case. 
----------------  ---------------------------------------------------------------  ---------------------------- 
 Data                                                                               Data aggregation is 
  aggregation        *    In reporting Exploration Results, weighting averaging      based on a cut-off 
  methods                 techniques, maximum and/or minimum grade truncations       grade of 0.1% WO(3) 
                          (eg cutting of high grades) and cut-off grades are         , a maximum internal 
                          usually Material and should be stated.                     dilution of 2.4 metres 
                                                                                     and a minimum wining 
                                                                                     width of 1.6 metres. 
                     *    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. 
----------------  ---------------------------------------------------------------  ---------------------------- 
 Relationship                                                                       Estimated true widths 
  between            *    These relationships are particularly important in the      have been supplied 
  mineralisation          reporting of Exploration Results.                          where required. 
  widths 
  and 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                                                                           Provided 
                     *    Appropriate maps and sections (with scales) and 
                          tabulations of intercepts should be included for any 
                          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 available results 
  reporting          *    Where comprehensive reporting of all Exploration           provided 
                          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                                                                              No deleterious data 
  substantive        *    Other exploration data, if meaningful and material,        or issues known which 
  exploration             should be reported including (but not limited to):         would adversely impact 
  data                    geological observations; geophysical survey results;       a potential mining 
                          geochemical survey results; bulk samples - size and        operation. 
                          method of treatment; metallurgical test results; bulk 
                          density, groundwater, geotechnical and rock 
                          characteristics; potential deleterious or 
                          contaminating substances. 
----------------  ---------------------------------------------------------------  ---------------------------- 
 Further                                                                            Provided where appropriate. 
  work               *    The nature and scale of planned further work (eg 
                          tests for lateral extensions or depth extensions or 
                          large-scale step-out drilling). 
 
 
                     *    Diagrams clearly highlighting the areas of possible 
                          extensions, including the main geological 
                          interpretations and future drilling areas, provided 
                          this information is not commercially sensitive. 
----------------  ---------------------------------------------------------------  ---------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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1 Month Thor Mining Chart

1 Month Thor Mining Chart
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