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

Thor EnergyAnnouncement

06/10/2017 09:50

RNS Number : 9269S
Thor Mining PLC
06 October 2017
6 October 2017
THOR MINING PLC
DRILLING SUCCESS AT PILOT MOUNTAIN TUNGSTEN PROJECT - NEVADA USA
Further to the announcement of 19 September 2017, theBoardofThorMiningPlc("Thor"orthe"Company")(AIM,ASX:THR),ispleasedtoadvise that it has received positive laboratory assays from the recent drilling program at the Company's wholly owned Pilot Mountain tungsten project in Nevada, USA.
Highlights:
Desert Scheelite
 A second lode 20 metres to the north of the existing Desert Scheelite lode is confirmed.
 A down dip extension to mineralisation of 60 metres is also confirmed.
Good Hope
 The 28 metre-wide zone of copper, zinc and tungsten mineralisation intersected near surface confirmed from laboratory assays,
 Drill intersections 70 metres to the west of previous drilling at Good Hope have added significantly to the known strike length of this deposit.
Mr Mick Billing, Executive Chairman of Thor:
"I am very pleased to announce, what are for the Thor Mining board and operational team, exciting drill assay results from both Desert Scheelite and Good Hope.
"We have long suspected, from geophysical studies, that additional mineralised lodes exist at Desert Scheelite, and it is very rewarding to have this validated. This is a very strong target for drill testing along the entire strike length of the existing resource with potential, if successful, to add substantially to the resource inventory'
"Additionally, the high grade and near surface mineralisation at Good Hope transforms this into a deposit with genuine potential"
"During recent meetings at the International Tungsten Industry Association conference in Moscow we have received positive feedback from a number of parties commenting on the results of our exploration work, and quality of the asset, at the Company's Pilot Mountain project."
Desert Scheelite
Significant Assays:
 17DSDD02: 23.3m @ 0.21% WO3 from 198m and 15.2m @0.25% WO3 from 253.3m
Refer to Table 1 for complete intercept summary.
Drillhole17DSDD-02intersectedtwomineralisedzones; the upper intersection representsanewsecondlode previously identified by geophysical targeting prior to drilling. The new second lode sits approximately 20 metres to the hanging wall (north) of the existing Desert Scheelite lode and may extend the entire strike length of the Desert Scheelite resource.
The lower 17DSDD-02intersection represents a 60 metre down dip extension to the existing Desert Scheelite lode. This down dip extension may occur along the entire length of the resource.
Good Hope
Significant Assays:
 17GHRC01: 26.6m @ 0.21% WO3, 1.2% Zn, 1.0% Cu from 0.8 metres downhole
 17GHRC02: 12.2m @0.12% WO3 from 57.8m and 3m @0.37% WO3 within 8.4m @ 0.59% Cu from 80.8m.
Refer to Table 1 for complete intercept summary.
A 28-metre-wide zone of copper zinc and tungsten mineralisation has been confirmed beneath shallow alluvialcover at the Good Hope prospect.
Better than expected assay results for drill hole 17GHRC-02 mean a potential 70 metre strike extension of the Good Hope lode to the west at 423,870mE.
Table 1: Drill hole intercept summary 
Hole ID
Easting
(NAD83
zone 11)
Northing
(NAD83
zone 11)
Elevation
(m ASL)
Azi -muth
Dip
Hole depth (m)
Intersection
Estimated true width
17DS-DD01
424458.0
4248396.1
1918
181
-73
187.6
No mineralisation intersected. Hole abandoned due to technical difficulties.

17DS-DD02
424451.9
4248399.4
1918
195.8
-69
313.0
23.3m fr 198m @ 0.21% WO3, & 0.2% Zn including 8.2m fr 198m @ 0.37% WO3 & 0.26% Zn
12m
15.2m fr 253m @ 0.25% WO3, 0.14% Zn & 0.19% Cu including 3.0m fr 265.5m @0.36% WO3
7m
17GH-RC01
423940.6
4249687.6
1956.5
180
-60
44.2
26.6m fr 0.8m @ 0.21% WO3, 1.2% Zn, 1.0% Cu including;
10.6m fr 16.7m @ 0.33% WO3, 1.1%Zn, 1.4%Cu
28m*
17GH-RC02
423868.0
4249698.0
1972
179.2
-61.5
126.5
12.2m fr 57.8m @0.12%WO3, 0.5%Zn, 0.7%Cu
11m
8.4m fr 80.8m @ 0.59%Cu (including 3m @ 0.37%WO3 fr 85.3m)
7m 
(2m)
17GH-RC03
423941.9
4249668.3
1961.5
175.3
-60.1
109.7
6.9m fr 1.5m @0.38% WO3, 0.72% Zn, & 0.23% Cu
28m*
17GH-RC04
423945.0
4249703.0
1953
192.0
-61
71.6
7.6m fr 30.4m @0.36%Zn, 0.67% Cu
5m
17GH-DD01
423942.0
4249689.0
1956.4
172.5
-49
150.0
13.2m fr 15.7m @ 0.28% WO3, 1.43% Zn, 0.98% Cu
28m*

*28m estimated true width of entire lode 

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.
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.
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$1,630/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 wherethere is coarse gold that has inherent sampling problems. Unusual commodities ormineralisation
types (eg submarine nodules) may warrant 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 insertedat 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 core is oriented and if so, by what method, etc).
Exploration results are based on HQ sized diamond drill core and ReverseCirculation drillcuttings.
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/gain of fine/coarsematerial.
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 were 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 allsub- 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 thegrain size of the material beingsampled.
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 and fieldduplicates making up 10% of the assaysamples.
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 levelsof
accuracy (ie lack of bias) and precision have been established.
Assay laboratory operates to ISO 17025 and are accredited by the local regulatory authority.
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 is implied or inferred.

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 sampling bias, this should be assessed and reported if material.
Drilling azimuth is oriented at right angle to the interpreted strike of mineralisation. Hole inclination 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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