REG - Thor Mining PLC - COMPLETION OF DRILLING AT PILOT MOUNTAIN - NEVADA <Origin Href="QuoteRef">THRL.L</Origin>

Thor EnergyAnnouncement

19/09/2017 09:31

RNS Number : 1504R
Thor Mining PLC
19 September 2017
19 September 2017
THOR MINING PLC
COMPLETION OF DRILLING AT PILOT MOUNTAIN - NEVADA USA
TheBoardofThorMiningPlc("Thor"orthe"Company")(AIM,ASX:THR),ispleasedtoreport completion of drilling at the Pilot Mountain tungsten project in Nevada, USA.
Highlights:
 Mineralisation identified extending a further 60 metres down dip at Desert Scheelite
 Potential second lode identified 20 metres to the north of the existing Desert Scheelite lode.
 28 metre wide zone of copper, zinc and tungsten mineralisation intersected near surface at the Good Hope prospect.
Detailedloggingofthe drill core is nowcompleteandsamplessubmittedforlaboratoryassay.
Mr Mick Billing, Executive Chairman of Thor:
"Veryencouraginginitial results fromDesertScheelite and Good Hope,andhopefullytheassays, expected in several weeks, will confirmthis.
"Desert Scheelite in particular continues to shape as very exciting amongst the suite of deposits at Pilot Mountain, and the depth extension and potential additional lode to the north identified in this program represents extremely promising growth potential."
"The rising Tungsten commodity price recently has increased interest in tungsten explorers and developers. We have spent several years building a quality tungsten portfolio and with Pilot Mountain in the US and Molyhil in Australia, the Company is uniquely positioned to benefit from a resurgent tungsten sector."
Desert Scheelite
Drill hole 17DSDD-02 intersected two mineralised zones; the first representing a potential second new lode approximately 20 metres to the hangingwall (north) of the existing Desert Scheelite lode. The second intersection down hole represents a 60 metre down dip extension to the existing Desert Scheelite lode.
Link to Desert Scheelite Cross Section: http://www.rns-pdf.londonstockexchange.com/rns/1504R_-2017-9-19.pdf
Two diamond drill holes were planned at the Desert Scheelite prospect however only one was completed after 17DSDD01 was abandoned due to drilling difficulties. Alternative drill collar locations are in the process of being permitted for subsequent drilling.
Good Hope
Four reverse circulation (RC) holes and one diamond drill core hole were completed at the Good Hope prospect. Robust mineralisation was identified by drilling following up the historic drill hole result from RGH-02 (36.5m @ 0.4%WO3, 0.25%Cu, 0.47%Zn).
 Assay results are awaited to confirm preliminary XRF results of 27m @ 1.1% Cu, 1.3% Zn and 0.19%WO3 from surface including 10m @ 0.32% WO3 from 17.5m down hole (reportedon18August2017).
 The Good Hope drilling has delineated a 28-metre-wide zone of copper zinc and tungsten mineralisation beneath shallow alluvial cover.
 Drill hole 17GH-RC02, 70 metres west of 17GHRC-01 (Figure 5) failed to intersect significant mineralisation possibly due to unidentified fault displacement.
A strong mineralising system has been demonstrated at Good Hope and there remains good potential of further drilling success.
Table 1: Drill hole orientation summary 
Hole ID
Easting
NAD83 zone 11
Northing
NAD83 zone 11
Hole Collar dip *
Hole collar Azimuth*
Final Depth (m)
17DS - DD01
424,458
4,248,396
-73
181
187
17DS - DD02
424,452
4,248,399
-69
196
313
17GH - DD01
423,942
4,249,689
-50
172
150
17GH - RC01
423,941
4,249,688
-60
180
44
17GH - RC02
423,868
4,249,698
-61
180
126
17GH - RC03
423,942
4,249,668
-60
175
110
17GH - RC04
423,945
4,249,703
-60
175
72
 Previously reported as 17DS-DD01
Laboratory assayresults are expected within four weeks.theCompanywillissueanupdated report withthefullresults when received.
Enquiries:
Mick Billing
+61 (8) 7324 1935
Thor Mining PLC
ExecutiveChairman
Ray Ridge
+61 (8) 7324 1935
Thor Mining PLC
CFO/Company
Secretary
Colin Aaronson/
Daniel Bush/
Richard Tonthat
+44 (0) 207 383 5100
Grant Thornton UK LLP
Nominated Adviser
Elliot Hance
+44 (0) 207382 8300
Beaufort Securities Limited
Joint Broker
Nick Emerson / Andy Thacker
+44 (0) 1483 413 500
SI Capital Ltd
Joint Broker
Tim Blythe/ Camilla Horsfall
+44 (0) 207 138 3222
Blytheweigh
Financial PR
Updates on the Company's activities are regularly posted on Thor's websitewww.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 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 Thor Mining PLC
Thor Mining PLC 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 2015 suggested attractive returns. Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated Resources Estimate on 1 of the 4 known deposits.
Thor is also acquiring up to a 60% interest Australian copper development company Environmental Copper Recovery SA Pty Ltd, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery.
Thor also holds a production royalty entitlement from the Spring Hill Gold project of:
 A$6perounceofgoldproducedfromtheSpringHilltenementswherethegoldproducedissoldforup to A$1,500 per ounce;and
 A$14 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 perounce.
Notes
 ReferASXandAIMannouncementof12January2015
 ReferAIMannouncementof22May2017andASXannouncementof23May2017
 Refer AIM announcement of 26 February 2016 and ASXannouncementof29February2016
 AtthedateofthisannouncementgoldistradingatapproximatelyA$1,650/oz
JORC Code, 2012 Edition - Table 1 report
Section 1 Sampling Techniques and Data
Criteria
JORC Code explanation
Commentary
Sampling techniques
 Nature and quality of sampling (eg cutchannels, 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 ofsampling.
 Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools orsystems used.
 Aspects of the determination of mineralisationthat are Material to the PublicReport.
 In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 msamples 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) maywarrant
disclosure of detailed information.
Exploration results are based on HQ sized diamond drill core and Reverse Circulation drill cuttings.
Industry standard QAQC protocol was adopted with reference material inserted at 10%.
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 coreis
oriented and if so, by what method, etc).
Exploration results are based on HQ sized diamond drill core and Reverse Circulation drill cuttings.
Drill sample recovery
 Method of recording and assessing core andchip sample recoveries and resultsassessed.
 Measures taken to maximise sample recoveryand ensure representative nature of thesamples.
 Whether a relationship exists between sample recovery and grade and whether sample biasmay have occurred due to preferential loss/gainof
fine/coarse material.
Core recoveries exceed 95%
RC samples were not weighed but recoveries were generally good except for the very top of hole.
Logging
 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate MineralResource estimation, mining studies and metallurgical studies.
 Whether logging is qualitative or quantitativein nature. Core (or costean, channel, etc) photography.
 The total length and percentage of therelevant
Drill core/cuttings was logged geologically and photographed for the entire length of the hole.
Criteria
JORC Code explanation
Commentary
intersections logged.
Sub- sampling techniques and sample preparation
 If core, whether cut or sawn and whetherquarter, half or all coretaken.
 If non-core, whether riffled, tube sampled,rotary split, etc and whether sampled wet ordry.
 For all sample types, the nature, qualityand 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 samplingis representative of the in situ material collected, including for instance results for field duplicate/second-halfsampling.
 Whether sample sizes are appropriate to the grain size of the material beingsampled.
No assay data is reported.
Mineralised intervals of core were cut and half core sent for assay. Sample intervals were based on geological boundaries or a maximum of five feet.
Industry standard QAQC protocol was adopted including certified reference material, certified blanks andield duplicates making up 10% of the assay samples.
Quality of assay data and laboratory tests
 The nature, quality and appropriateness ofthe 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 havebeen
established.
XRF data was reported on 18th August 2017
Verification of sampling and assaying
 The verification of significant intersectionsby either independent or alternative company personnel.
 The use of twinnedholes.
 Documentation of primary data, dataentry procedures, data verification, datastorage (physical and electronic)protocols.
 Discuss any adjustment to assaydata.
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 locationsused in Mineral Resourceestimation.
 Specification of the grid systemused.
 Quality and adequacy of topographiccontrol.
Hand held GPS
Data spacing and distribution
 Data spacing for reporting of ExplorationResults.
 Whether the data spacing and distributionis
sufficient to establish the degree of geological and grade continuity appropriate for the Mineral
No resource estimation isimplied orinferred.
Criteria
JORC Code explanation
Commentary
Resource and Ore Reserve estimation procedure(s) and classifications applied.
 Whether sample compositing has beenapplied.
Orientation of data in relation to geological structure
 Whether the orientation of sampling achieves unbiased sampling of possible structures andthe extent to which this is known, considering the deposittype.
 If the relationship between the drilling orientation and the orientation of key mineralised structuresis considered to have introduced a samplingbias,
this should be assessed and reported if material.
Drilling azimuth is oriented at right angle to the interpreted strike of mineralisation. holenclination is appropriately for the dip of the mineralised zones (refer to sections supplied in announcement text)
Sample security
 The measures taken to ensure samplesecurity.
Drill samples remains in the custody of the supervising geologist and stored in a locked building.
Audits or reviews
 The results of any audits or reviews ofsampling techniques anddata.
None

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