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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Thor Energy Plc | LSE:THR | London | Ordinary Share | GB00BRJ52319 | ORD GBP0.001 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.20 | 1.10 | 1.30 | 1.20 | 1.20 | 1.20 | 52,411 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Misc Nonmtl Minrls, Ex Fuels | 0 | -520k | -0.0019 | -6.32 | 3.34M |
From Apr 2019 to Apr 2024
TIDMTHR
RNS Number : 7351U
Thor Mining PLC
31 July 2020
31 July 2020
THOR MINING PLC
PILBARA GOLDFIELDS - VISIBLE GOLD IN FOLLOW-UP SAMPLING
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) are pleased to advise visible gold from sample panning of the second phase of gold, nickel, and chromium geochemical sampling at the 100% owned Pilbara Goldfield tenements (E46/1262 and E46/1190) in Western Australia.
HIGHLIGHTS:
-- 17 of the 32 stream sediment samples had visible gold in panning
-- Two of the 2019 sample sites (19PST22 and 19PST32) had visible gold in multiple follow up stream sediment samples (tables 1 & 2)
-- Samples 20PST04 and 20PST24 returned 13 and 11 grains respectively from panning -- Gossan with prior nickel in rock chips was mapped and sampled over 800 strike metres.
Mick Billing, Executive Chairman of Thor Mining, commented:
"This appears to be a highly successful follow up, to the previous, very successful, sampling program."
"To find visible gold in multiple sites in very close proximity to previous gold samples is very encouraging".
"We look forward eagerly to confirmatory gold assays along with assays of the potential nickel site samples".
A total of 32 stream sites and 49 gossan sites were sampled (tables 1 & 3) and are now undergoing laboratory assay with results expected to be available in two to three weeks.
The program was designed to follow up the eight most encouraging sites from the 2019 reconnaissance program in addition to locating and testing the area of gossan identified by the WA Geological Survey.
Table 1: 2020 Stream sediment samples grouped by target site
Hot Features
Premium
Sample Target
No Site Easting Northing Tenement Gold Grains Pan Comment
1 flat 1
20PST03 19PST22 779624 7588632 E46/1190 2 chunky
---------
fine to vv
20PST04 779729 7588684 E46/1190 13 fine
20PST05 779761 7588724 E46/1190 1
1 nugget
20PST09 779760 7588520 E46/1190 5 4 med flat
20PST10 779801 7588687 E46/1190
20PST19 779388 7588358 E46/1190 2 vv coarse
20PST20 779459 7588344 E46/1190 1 v fine
20PST21 779598 7588041 E46/1190 2 V fine
-------- --------- --------- ------------ ------------
2fine and
20PST23 19PST32 780936 7586392 E46/1190 3 1vfine
---------
v coarse
20PST24 781010 7586306 E46/1190 11 to fine
20PST25 780941 7585818 E46/1190 2 v fine
20PST26 780761 7585374 E46/1262
20PST27 780752 7585410 E46/1262
20PST30 780734 7586012 E46/1262
20PST33 780829 7586516 E46/1262 1 v fine
20PST34 780995 7586393 E46/1190 1
-------- --------- --------- ------------ ------------
Gold Anomalism
Eight stream sediment sample sites from the 2019 sampling program had follow up sampling. The best gold panning results show further gold in multiple stream sediment samples upstream of two of the 2019 test sites 19PST22 and 19PST32. These two sites have similar geological settings and are situated approximately 800 metres along strike of each other. The areas directly up stream of each site require follow up evaluation as well as the entire 800 metre strike length between the sites.
Gold assay results are to follow.
Table 2: 2020 Stream sediment sample gold panning summary
Sample
No Easting Northing Tenement Gold Grains Pan Comment
20PST01 784289 7581111 E46/1262
20PST02 784319 7581111 E46/1262 1
1 flat 1
20PST03 779624 7588632 E46/1190 2 chunky
20PST04 779729 7588684 E46/1190 13 fine to vvfine
20PST05 779761 7588724 E46/1190 1
20PST06 780111 7590646 E46/1190
20PST07 779362 7588976 E46/1190 1
20PST08 779341 7588938 E46/1190
1 nugget
20PST09 779760 7588520 E46/1190 5 4 med flat
20PST10 779801 7588687 E46/1190
20PST11 788577 7585913 E46/1262 1 coarse chunk
20PST12 782836 7581548 E46/1262
20PST14 780438 7586330 E46/1262 1 Fine
20PST15 780018 7590179 E46/1190
20PST16 780125 7590198 E46/1190
20PST17 779810 7589659 E46/1190
20PST18 779929 7589626 E46/1190 2 1fine
20PST19 779388 7588358 E46/1190 2 vv coarse
20PST20 779459 7588344 E46/1190 1 v fine
20PST21 779598 7588041 E46/1190 2???? v fine
20PST22 788543 7585720 E46/1262
2fine and
20PST23 780936 7586392 E46/1190 3 1vfine
v coarse
20PST24 781010 7586306 E46/1190 11 to fine
20PST25 780941 7585818 E46/1190 2 v fine
20PST26 780761 7585374 E46/1262
20PST27 780752 7585410 E46/1262
20PST28 780449 7586540 E46/1262
20PST29 780400 7586367 E46/1262
20PST30 780734 7586012 E46/1262
20PST31 780734 7586012 E46/1262
20PST32 780380 7585924 E46/1262
20PST33 780829 7586516 E46/1262 1 v fine
20PST34 780995 7586393 E46/1190 1
-------- --------- --------- ------------ ---------------
Nickel Anomalism
An extensive area of gossan was located within the north south trending band of ultramafic rocks along the western side of the tenement. The gossan extends over 800 metres of strike length and is up to 75 metres wide. A previous WA Geological Survey rock chip sample assayed 1080 ppm Ni.
Rock chip samples were collected from 49 sites covering as much of the gossan as outcrop and topography would allow. These samples have been despatched for laboratory assay.
Observations of the sampled gossan included; colloform textures, spongy leached jarasitic/limonitic rock, massive ironstone, silcrete capping and manganese staining. No preserved primary textures or structures were observed within the gossan.
Table 3: 2020 Gossan rock chip sample summary
Sample Sample
No Easting Northing Tenement No Easting Northing Tenement
20PRC01 782593 7581712 E46/1262 20PRC26 782481 7581091 E46/1262
20PRC02 782604 7581706 E46/1262 20PRC27 782498 7581084 E46/1262
20PRC03 782614 7581706 E46/1262 20PRC28 782456 7581073 E46/1262
20PRC04 782609 7581688 E46/1262 20PRC29 782435 7581081 E46/1262
20PRC05 782625 7581681 E46/1262 20PRC30 782436 7581090 E46/1262
20PRC06 782622 7581674 E46/1262 20PRC31 782432 7581101 E46/1262
20PRC07 782630 7581660 E46/1262 20PRC32 782425 7581104 E46/1262
20PRC08 782648 7581652 E46/1262 20PRC33 782436 7581109 E46/1262
20PRC09 782647 7581646 E46/1262 20PRC34 782417 7581111 E46/1262
20PRC10 782641 7581640 E46/1262 20PRC35 782423 7581005 E46/1262
20PRC11 782635 7581634 E46/1262 20PRC36 782429 7581017 E46/1262
20PRC12 782638 7581630 E46/1262 20PRC37 782428 7581027 E46/1262
20PRC13 782636 7581606 E46/1262 20PRC38 782430 7581037 E46/1262
20PRC14 782636 7581598 E46/1262 20PRC39 782435 7581037 E46/1262
20PRC15 782620 7581587 E46/1262 20PRC40 782423 7581051 E46/1262
20PRC16 782620 7581565 E46/1262 20PRC41 782426 7581065 E46/1262
20PRC17 782626 7581383 E46/1262 20PRC42 782433 7581071 E46/1262
20PRC18 782631 7581381 E46/1262 20PRC43 782400 7580972 E46/1262
20PRC19 782649 7581359 E46/1262 20PRC44 782400 7580967 E46/1262
20PRC20 782649 7581352 E46/1262 20PRC45 782396 7580959 E46/1262
20PRC21 782646 7581344 E46/1262 20PRC46 782390 7580950 E46/1262
20PRC22 782648 7581340 E46/1262 20PRC47 782390 7580945 E46/1262
20PRC23 782644 7581331 E46/1262 20PRC48 782381 7580938 E46/1262
20PRC24 782490 7581095 E46/1262 20PRC49 782375 7580932 E46/1262
20PRC25 782496 7581095 E46/1262
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 PLC Executive Chairman
1935
Ray Ridge +61 (8) 7324 Thor Mining PLC CFO/Company Secretary
1935
Samantha Harrison/Niall +44 (0) 207 Grant Thornton Nominated Adviser
McDonald 383 5100 UK LLP
Nick Emerson +44 (0) 1483 SI Capital Ltd Broker
413 500
Competent Persons Report
The information in this report that relates to exploration results 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.
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 P LC (AI M, A S X: THR) is a r esources comp any quoted on the AIM M a rket of the London Stock Exchange and on ASX in Austr alia.
Thor holds 1 0 0% of the ad v anced Molyhil t ungsten p r oject in t he No rthe rn T e rr ito ry of Aust r alia, for w hich an updated feasibility study in August 2018(1) suggest ed attr a ctive retur ns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred Resource estimates for the White Violet and Samarkand tungsten deposits and the Bonya copper deposit(2).
Thor a lso holds 1 0 0% of t he Pilot Mountain tungst en p roject in Nevada U SA which has a JORC 20 12 Indicated and Inferred Res o u rces Estimate(3) on 2 of the 4 k nown deposits. The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.
Thor holds a 25% in ter est Aust r alian copper d evelopment company EnviroCopper Limited (with rights to increase its interest to 30%). EnviroCopper Limited holds:
-- rights to earn up to a 7 5% interest in the mineral rights and claims over the resource on the p o rtion of the historic Kapunda copper mi ne in South Aust r alia considered recover able by way of in situ recove ry; and
-- rights to earn up to 75% of the Moonta copper project, also in South Australia comprising the northern portion of exploration licence EL5984 and includes a resource estimate for several deposits considered recover able by way of in situ recove ry .
N ot es
(1) Refer ASX and AIM an n o u ncement of 23 August 2 0 18 (2) Refer ASX and AIM an n o u ncements of 26 November 2 0 18 and 29 January 2020
(3) Refer AIM ann o un cement of 13 December 2018 and ASX ann o unce ment of 14 December 2018
Refer AIM a nn o un c e m e nt of 10 F e b r u ary 2 0 18 a nd ASX ann o uncement of 12 February 2 0 18
Refer ASX and AIM an n o u ncement of 15 August 2 0 19
JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
Criteria JORC Code Explanation Commentary
Sampling The programme comprised
techniques * Nature and quality of sampling (eg cut channels, stream sediment trap
random chips, or specific specialised industry site sampling with
standard measurement tools appropriate to the coarse (3kg -5mm+2mm)
minerals under investigation, such as down hole gamma and fine (4kg -2mm)
sondes, or handheld XRF instruments, etc). These fraction samples collected
examples should not be taken as limiting the broad for geochemical analysis
meaning of sampling. for Au 2kg BLEG (fine
fraction), aqua regia
(fine and coarse fractions)
* Include reference to measures taken to ensure sample and multi-element analysis.
representivity and the appropriate calibration of any In addition a 10-12
measurement tools or systems used. kg sample of -2mm material
was collected from
each trap site and
* Aspects of the determination of mineralisation that panned in the field.
are Material to the Public Report. Each gossan sample
comprised 8 - 10kg
of rock taken from
* In cases where 'industry standard' work has been done a 5m x 5m area of outcrop.
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
techniques * Drill type (eg core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc).
Drill sample Not applicable
recovery * Method of recording and assessing core and chip
sample recoveries and results assessed.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
Logging No logging was undertaken
* Whether core and chip samples have been geologically
and geotechnically logged to a level of detail to
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
* The total length and percentage of the relevant
intersections logged.
Sub-sampling Samples were screened
techniques * If core, whether cut or sawn and whether quarter, in the field as described
and sample half or all core taken. in "Sampling Techniques"
preparation 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 sediment
geochemistry.
One field duplicate
* For all sample types, the nature, quality and and one blank sample
appropriateness of the sample preparation technique. were submitted for
assay with the other
samples.
* 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 The proposed assay
of assay * The nature, quality and appropriateness of the method is appropriate
data and assaying and laboratory procedures used and whether for preliminary 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
points holes (collar and down-hole surveys), trenches, mine
workings and other locations used in Mineral Resource
estimation.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
Data spacing Not applicable - no
and distribution * Data spacing for reporting of Exploration Results. resource is being reported
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
Orientation Orientational bias
of data * Whether the orientation of sampling achieves unbiased is not applicable to
in relation sampling of possible structures and the extent to stream sediment sampling
to geological which this is known, considering the deposit type. which are essentially
structure one dimensional.
* 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 Samples were flown
security * The measures taken to ensure sample security. back to Nulagine and
trucked to the assay
laboratory in Perth.
Sample security levels
are considered appropriate
for a preliminary reconnaissance
assessment.
Audits None undertaken
or reviews * The results of any audits or reviews of sampling
techniques and data.
==================== ============================================================ ==================================
1. Section 2 Reporting of Exploration Results
Criteria JORC Code Explanation Commentary
Mineral Exploration results
tenement * Type, reference name/number, location and ownership are reported on E46/1190
and land including agreements or material issues with third and E46/1262 in Western
tenure status parties such as joint ventures, partnerships, Australia held 100%
overriding royalties, native title interests, by Thor Mining PLC.
historical sites, wilderness or national park and
environmental settings.
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
Exploration Not applicable
done by * Acknowledgment and appraisal of exploration by other
other parties parties.
Geology Yet to be determined
* Deposit type, geological setting and style of
mineralisation.
Drill hole No drilling has been
Information * A summary of all information material to the undertaken or reported
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes:
o easting and northing of the drill hole
collar
o elevation or RL (Reduced Level - elevation
above sea level in metres) of the drill
hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
Data aggregation Only field observations
methods * In reporting Exploration Results, weighting averaging have been reported.
techniques, maximum and/or minimum grade truncations There has been no data
(eg cutting of high grades) and cut-off grades are aggregation.
usually Material and should be stated.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
Relationship No drilling has been
between * These relationships are particularly important in the undertaken or reported
mineralisation reporting of Exploration Results.
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 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 have been
exploration * Other exploration data, if meaningful and material, reported
data should be reported including (but not limited to):
geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
Further Subject to assay results,
work * The nature and scale of planned further work (eg it is anticipated that
tests for lateral extensions or depth extensions or follow up stream sediment
large-scale step-out drilling). geochemistry and geological
mapping will be undertaken
to locate the source
* Diagrams clearly highlighting the areas of possible of any mineralisation.
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
==================== ================================================================= ===============================
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.
END
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