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Thursday 16 January, 2020

Thor Mining PLC

Gold, Nickel & Chrome - Pilbara Sample Assays

RNS Number : 0273A
Thor Mining PLC
16 January 2020
 

16 January 2020

 

THOR MINING PLC

GOLD, NICKEL & CHROME - PILBARA SAMPLE ASSAYS

 

The Board of Thor Mining Plc ("Thor") (AIM, ASX: THR) is pleased to advise gold, nickel, and chromium assays from preliminary geochemistry reconnaissance at its 100% owned Pilbara Goldfield tenements (E46/1262 and E46/1190) in Western Australia.

The program comprised stream sediment samples from 44 sites located to provide a broad coverage across the tenements. Initial gold panning provided strong evidence of gold prospectivity. Subsequent laboratory assay results now to hand provide further support for the gold potential in addition to identifying nickel and chrome potential of the location.

 

Highlights:

·   Three samples assayed above 0.3g/t gold

·   Including one assay of 0.9g/t gold

·   Anomalous nickel & chromium up to 1,272ppm Ni and 2,074ppm Cr.

The assays follow up previously announced results from panning  (6 Nov 2019) with best results of:

·   Visible gold from panning of 13 of the 44 sediment trap sites sampled;

·   Maximum observed gold comprised 20 grains (very fine) from one trap site with five grains (very fine) observed in the adjacent creek sample;

 

Mr Mick Billing, Executive Chairman, commented: 

"Very encouraging results from our initial reconnaissance survey on this ground, with plenty of follow up targets, focussing on gold, nickel & chrome."

"The elevated nickel & chrome samples either side of the ultramafic ridge on the western side of the licence area is particularly intriguing".

"The next phase or work here is likely to comprise further detailed stream sediment sampling, and soil sampling to confirm and extend these results, along with geological mapping".

 

The program was designed and implemented by George Merhi of Bann Geological Services Pty Ltd.

The programme comprised stream sediment trap site sampling (detailed in Table A). Samples comprising coarse (-5mm+2mm) and fine (-2mm) fraction sediment were collected for geochemical analysis comprising Au 2kg BLEG (fine fraction), aqua regia (fine and coarse fractions) and multi-element analysis.

The combined assay and gold panning results have several areas for follow up field evaluation likely to comprise detailed stream sediment sampling, soil sampling and geological mapping to better evaluate potential source lithologies.

Elevated nickel and chrome results obtained from samples 19PST23 and 19PST31 straddle the north-south trending ultramafic ridge on the west of E46/1262 provide strong encouragement for follow up sampling and evaluation.

Table: A Summary of results

Sample No

Easting

Northing

Tenement

Visual Gold count

Comment

Au (CN1) ppb

Au Repeat ppb

Au (AR2) ppb

Au Repeat ppb

Ni ppm

Cr ppm

19PST1

788517

7585914

E46/1262

20

v fine

No significant assays

19PST2

788542

7585747

E46/1262

5

v fine

''

19PST3

787507

7584556

E46/1262

1

med rounded

"

19PST4

787501

7584365

E46/1262

0

 

"

19PST5

785739

7580319

E46/1262

0

 

"

19PST6

785962

7580255

E46/1262

0

 

"

19PST7

784251

7578348

E46/1262

0

 

"

19PST8

784238

7578402

E46/1262

0

 

"

19PST9

780980

7591940

E46/1190

0

 

"

19PST11

790941

7586131

E46/1262

0

 

"

19PST12

790887

7586107

E46/1262

0

 

"

19PST13

788661

7584372

E46/1262

0

 

"

19PST14

788668

7584326

E46/1262

0

 

"

19PST15

784554

7581458

E46/1262

1

nugget angular

6.7

72.26

 

 

 

 

19PST16

784518

7581504

E46/1262

0

 

No significant assays

19PST17

783611

7580160

E46/1262

0

 

"

19PST18

783583

7580269

E46/1262

0

 

"

19PST19

779729

7590847

E46/1190

0

 

 

 

256

373

 

 

19PST20

779691

7590795

E46/1190

0

 

No significant assays

19PST21

779637

7589090

E46/1190

2

 med flat

"

19PST22

779673

7589010

E46/1190

2

1 m/ 1 f flat

"

19PST23

779543

7583792

E46/1262

0

 

 

 

 

 

643

1477

19PST24

779545

7583840

E46/1262

0

 

No significant assays

19PST25

781942

7586463

E46/1190

0

 

"

19PST26

781830

7586363

E46/1190

0

 

"

19PST27

781797

7589110

E46/1190

2

very fine

"

19PST28

781421

7588166

E46/1190

1

1 fine flat

"

19PST29

781369

7588090

E46/1190

0

 

"

19PST30

781323

7583894

E46/1262

0

 

"

19PST31

781247

7583860

E46/1262

0

 

 

 

 

 

1272

2074

19PST32

780820

7586665

E46/1262

2

fine

21.98

119.54

 

864

 

 

19PST33

780775

7586684

E46/1262

1

fine chunky

No significant assays

19PST34

780079

7586846

E46/1262

0

 

"

19PST35

784674

7582582

E46/1262

0

 

"

19PST36

784678

7582468

E46/1262

1

1vcs flat

"

19PST37

783105

7586695

E46/1190

0

 

"

19PST38

789014

7585264

E46/1262

0

 

"

19PST39

788997

7585253

E46/1262

0

 

"

19PST40

787488

7585639

E46/1190

0

 

"

19PST41

782773

7583406

E46/1190

0

 

"

19PST42

782779

7583466

E46/1190

0

 

"

19PST43

783418

7586477

E46/1190

0

 

20.19

12.83

 

 

 

 

19PST44

789142

7585884

E46/1262

1

coarse rounded

 

463

 

 

 

 

19PST45

789173

7585849

E46/1262

1

med

No significant assays

1.         CN: Cyanide leach

2.         AR: Aqua Regia

 

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 1935

Thor Mining PLC

Executive Chairman

Ray Ridge

+61 (8) 7324 1935

Thor Mining PLC

CFO/Company

Secretary

Colin Aaronson/

Richard Tonthat/ Ben Roberts

+44 (0) 207 383 5100

Grant Thornton UK LLP 

Nominated Adviser

Nick Emerson

Claire Louise Noyce /

John Beresford-Peirse

 

+44 (0) 1483 413 500

+44 (0) 203 764 2341

SI Capital Ltd

Hybridan LLP

Joint Broker

Joint Broker

 

 

 

 

 

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 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.

JORC Code, 2012 Edition - Table 1 report template

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria

JORC Code explanation

Commentary

Sampling techniques

·    Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

·    Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

·    Aspects of the determination of mineralisation that are Material to the Public Report.

·    In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

The programme comprised stream sediment trap site sampling with coarse (3kg -5mm+2mm) and fine (4kg -2mm) fraction samples collected for geochemical analysis for Au 2kg BLEG (fine fraction), aqua regia (fine and coarse fractions) and multi-element analysis. In addition a 10-12 kg sample of -2mm material was collected from each trap site and panned in the field.

Drilling 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).

Not applicable

Drill sample 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.

Not applicable

Logging

·    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.

No logging was undertaken

Sub-sampling techniques and sample preparation

·    If core, whether cut or sawn and whether quarter, half or all core taken.

·    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.

Samples were screened in the field as described in "Sampling Techniques" above.

The sample sizes are as per industry standard for stream sediment geochemistry.

Quality of assay data and laboratory tests

·    The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

·    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.

The proposed assay method is appropriate for preliminary exploration.

Verification of sampling and assaying

·    The verification of significant intersections by 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.

Not undertaken

Location of data points

·    Accuracy and quality of surveys used to locate drill 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.

Hand held GPS - MGA94 zone 50

Data spacing and distribution

·    Data spacing for reporting of Exploration Results.

·    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.

Data reported is for a preliminary reconnaissance survey and is indicative of the mineral prospectivity. No inferences are made as to mineralisation potential.

Orientation of data in relation to geological structure

·    Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

·    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.

Orientational bias is not applicable to stream sediment sampling which are essentially one dimensional.

Sample security

·    The measures taken to ensure sample security.

Samples were flown back to Newman and trucked to the assay laboratory in Perth. Sample security levels are considered appropriate for a preliminary reconnaissance assessment.

Audits or reviews

·    The results of any audits or reviews of sampling techniques and data.

None undertaken

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

 

 

 

 

Mineral tenement and land tenure status

·    Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, 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 results is reported on E46/1190 and E46/1262 in Western Australia held 100% by Thor Mining plc.

 

Exploration done by other parties

·    Acknowledgment and appraisal of exploration by other parties.

Not applicable

 

Geology

·    Deposit type, geological setting and style of mineralisation.

Yet to be determined

 

Drill hole Information

·    A summary of all information material to the 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.

No drilling has been undertaken or reported

 

Data aggregation methods

·    In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are 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.

Only field observations have been reported. There has been no data aggregation.

 

Relationship between mineralisation widths and intercept lengths

·    These relationships are particularly important in the reporting of Exploration Results.

·    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').

No drilling has been undertaken or reported

Diagrams

·    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.

A sample location plan including current 1:100k scale geology has been provided

 

Balanced reporting

·    Where comprehensive reporting of all Exploration 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.

All results have been reported

 

Other substantive exploration data

·    Other exploration data, if meaningful and material, 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.

All data have been reported

 

Further 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.

It is anticipated that follow up stream sediment geochemistry and geological mapping will be undertaken to locate sources of anomalous results.

 

           

 

 

 


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 [email protected] or visit www.rns.com.
 
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