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Friday 31 July, 2020

Thor Mining PLC

Pilbara Goldfields Follow-Up Sampling

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

Sample No

Target Site

Easting

Northing

Tenement

Gold Grains

Pan Comment

20PST03

19PST22

779624

7588632

E46/1190

2

1 flat 1 chunky

20PST04

779729

7588684

E46/1190

13

fine to vv fine

20PST05

779761

7588724

E46/1190

1

 

20PST09

779760

7588520

E46/1190

5

1 nugget 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

20PST23

19PST32

780936

7586392

E46/1190

3

2fine and 1vfine

20PST24

781010

7586306

E46/1190

11

v coarse 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

 

20PST03

779624

7588632

E46/1190

2

1 flat 1 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

 

 

20PST09

779760

7588520

E46/1190

5

1 nugget 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

 

 

20PST23

780936

7586392

E46/1190

3

2fine and 1vfine

20PST24

781010

7586306

E46/1190

11

v coarse 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

 

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

Samantha Harrison/Niall McDonald

+44 (0) 207 383 5100

Grant Thornton UK LLP 

Nominated Adviser

Nick Emerson

 

+44 (0) 1483 413 500

SI Capital Ltd

Broker

 

 

 

 

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 PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.

Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.

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 deposit².

Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known 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% interest Australian copper development company EnviroCopper Limited (with rights to increase its interest to 30%).  EnviroCopper Limited 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 in South Australia considered recoverable by way of in situ recovery; 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 recoverable by way of in situ recovery .

 

N ot es

¹ Refer ASX and AIM announcement of 23 August 2018

² Refer ASX and AIM announcements of 26 November 2018 and 29 January 2020

³ Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018

 Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018

Refer ASX and AIM announcement of 15 August 2019

 

 

JORC Code, 2012 Edition - Table 1 report template

Section 1 Sampling Techniques and Data

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.

Each gossan sample comprised 8 - 10kg of rock taken from a 5m x 5m area of outcrop.

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.

One field duplicate and one blank sample were submitted for assay with the other samples.

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.

Not applicable - no resource is being reported

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 Nulagine 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

       

 

1.  Section 2 Reporting of Exploration Results

Criteria

JORC Code Explanation

Commentary

 

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 are 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.

Subject to assay results, it is anticipated that follow up stream sediment geochemistry and geological mapping will be undertaken to locate the source of any mineralisation.

           

 

 


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