REG - Thor Mining PLC - Electromagnetic Conductor Beneath Nickel Gossan
20/09/2022 07:00
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RNS Number : 9339Z Thor Mining PLC 20 September 2022
20 September 2022
Thor Mining PLC
("Thor" or the "Company")
Off-hole Electromagnetic Conductor identified beneath Nickel Gossan
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are
pleased to announce that anomalous nickel assays results from RC drilling have
been returned and that an off-hole conductive anomaly has been identified from
a subsequent down-hole electromagnetic geophysics survey at the Krona
Prospect, within the Company's 100% owned Ragged Range Project, located in the
Eastern Pilbara, Western Australia.
Project highlights:
· The shallow conductor, identified from the recent high-powered Fixed
Loop Electromagnetics (FLEM) ground geophysics survey beneath the nickel
gossan at the Krona Prospect, was drill tested with one RC drill hole,
returning:
o 22RRRC045: 66m @ 0.19% nickel from 81m
· The drill hole intersected the edge of the modelled FLEM conductor.
· A down-hole electromagnetic (DHEM) geophysics survey was completed
and revealed an off-hole conductor consistent with sulphides and warrants
drill testing to validate.
· The nickel gossan is located at the basal contact of the Dalton Suite
ultramafic unit (altered Archean Komatiite) in the classic location for
nickel-copper sulphide mineralisation.
22RRRC045 looking NE
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf)
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"I am encouraged that the down-hole geophysics survey at the Krona Prospect,
Ragged Range has identified an off-hole electromagnetic conductor, and that
the target is genuinely anomalous for nickel with assay values above
background lithological values. This result warrants further drill testing to
confirm this understanding.
"We are currently designing a drilling program at the Kelly's Prospect
following up the high-grade gold in rock chips."
Next Steps
§ Samples have been submitted for assay of Platinum Group Elements (PGEs).
§ Design follow-up drill holes to target the DHEM conductor.
§ Awaiting drill assay from the recent Sterling Prospect RC drilling program.
§ Commence the RC drilling program at the Kelly's Prospect, following up on
high-grade gold in rock chips (up to 15.5g/t Au) (RNS: THR announcement 25
July 2022).
The Ragged Range Project, located in the prospective Eastern Pilbara Craton,
Western Australia, is 100% owned by Thor Mining (covering E46/1190, E46/1262,
E46/1355, E46/1340 and recently granted E46/1393 (Figure 1)).
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf (http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf)
Figure 1: Tenement location map showing the gossan position, Krona Prospect adjacent to Sterling Prospects 13km gold trend
Krona Prospect - Nickel Gossan
One RC drill hole of 174m was drilled to test the shallow (100m) conductor
identified by the high-powered Fixed Loop Electromagnetics (FLEM) ground
geophysics survey completed in June 2022 at the Krona Prospect. Due to the
steep slopes around the gossan, the closest achievable collar position was
around 50m from the SE corner of the plate and 130m from the plate's centre.
An intersection of 66m @ 0.19% Nickel from 81m was returned in 22RRRC045.
Whilst the hole intersected the modelled EM plate, it did not intersect
massive or disseminated sulphides. It did however intersect a graphitic shale
from 60-72m down hole, but this did not explain the source of the conductor as
it was too shallow (~50m above the modelled plate).
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf (http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf)
Figure 2: FLEM survey showing EM conductor and location of RC drill hole overlain on the 100K GSWA Geology.
To resolve the source of the conductor, the hole was cased and a down-hole
electromagnetic (DHEM) survey was completed by Vortex Geophysics. This used
a small 100m x 150m loop, oriented to couple both with flat lying conductors,
below the loop, and steeply dipping conductors in the vicinity of the
graphitic zone at ~70m down hole. The layout is shown in Figure 3.
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf (http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf)
Figure 3: EM conductor identified by FLEM survey and location of RC drill hole trace overlain on the airphoto.
The DHEM identified a clear off-hole conductor at around 85m down hole, with a
modelled response of -42° dip towards 312° azimuth and has a plunge of 14°
to the NE but appears to flatten in places. The plunge is not well constrained
and could be traded off against a small shift in the modelled plate along
strike.
The modelled plate and the down hole response for channel 11 (1.8695 m Sec)
are shown in Figure 4. If the modelled plate is extrapolated up dip it
intersects the hole at a depth of around 30m, not at the graphitic
intersection at ~70m as one might expect if that was the source of the
conductor. The tenor of the EM response does not suggest a massive nickel
sulphide source or even a strong conductor, but it may be networked sulphides
which warrants a drill hole to test it. The local geological regime is
interpreted to be a broad NE trending fault zone (Figure 5) with the Krona
gossan sitting above its hanging wall and the modelled plate and graphite zone
sitting closer to its footwall.
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf (http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf)
Figure 4: View from WNW showing the measured DHEM Ch11 response, FLEM modelled plate (red) and DHEM modelled plate (black).
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf (http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf)
Figure 5: Plan view of the interpreted DHEM plate (yellow), gossan outline (purple), DHEM loop and FLEM lines (blue), drill hole and contours of Ch21 total field magnitude from the FLEM overlain on a greyscale image of the AGC of the TMI.
Downhole Geochemistry
Lab assay data from sampling of 22RRRC045 was analysed in ioGAS software. This
verified that there were anomalous nickel assays above the background range
naturally expected in an ultramafic lithology. In addition, the Fe vs Ni graph
showed that iron was not preferentially scavenging nickel (thus not producing
false anomalies), and there were zones of sequential negative correlation
downhole as shown in Figure 6.
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf)
Figure 6: All assay data from 22RRRC045, showing the anomalous Ni assays above
the normal range expected in ultramafic rocks. The sequential negative
correlation of Fe and Ni from 51-57m down hole (green dots) and 80-99m down
hole (blue dots) are shown, and the red dots are the remainder of the
anomalous Ni assays.
By using the 'real' nickel anomalies in Figure 6, significant nickel
intersections in 22RRRC045 are more accurately reported in Table 1 and Figure
7.
Table 1: Significant intersections from the anomalous nickel zone in Figure 6
Hole ID Intersection From depth (m) To Depth (M) Interval (m) Nickel (Ni) %
22RRRC045 A 12 21 9 0.16
22RRRC045 B 38 59 21 0.13
22RRRC045 C 81 99 18 0.18
22RRRC045 D 108 129 21 0.21
http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf (http://www.rns-pdf.londonstockexchange.com/rns/9339Z_1-2022-9-19.pdf)
Figure 7: Down-hole assay data from 22RRRC045, showing the anomalous Ni assays in relation to the same red, green, blue and black dots from Figure 6.
Table B - RC Drill hole collar details
Hole ID MGA94 E MGA94 N M ASL Dip Azi (True N) Depth (m)
22RRRC045 782678 7580968 397 -53 303 174
References:
· Bagas et al., 2004. Geology of the Spilt Roc 1:100,000 Sheet.
1:00,000 Geological Series. Geological Survey of Western Australia
This announcement is authorised for release to the market by the Board of Directors.
For further information, please contact:
Thor Mining PLC
Nicole Galloway Warland, Managing Director Tel: +61 (8) 7324 1935
Ray Ridge, CFO / Company Secretary Tel: +61 (8) 7324 1935
WH Ireland Limited (Nominated Adviser and Joint Broker) Tel: +44 (0) 207 220 1666
Antonio Bossi / Darshan Patel / Megan Liddell
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483 413 500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004 9512
This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.
Competent Persons Report
The information in this report that relates to exploration results is based on
information compiled by Nicole Galloway Warland, who holds a BSc Applied
geology (HONS) and who is a Member of The Australian Institute of
Geoscientists. Ms Galloway Warland is an employee of Thor Mining PLC. She has
sufficient experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which she 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'. Nicole Galloway Warland consents to the inclusion in the
report of the matters based on her 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 (http://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; OTCQB: THORF) is a diversified resource
company quoted on the AIM Market of the London Stock Exchange, ASX in
Australia and OTCQB Market in the United States.
The Company is advancing its diversified portfolio of precious, base, energy
and strategic metal projects across USA and Australia. Its focus is on
progressing its copper, gold, uranium and vanadium projects, while seeking
investment/JV opportunities to develop its tungsten assets.
Thor owns 100% of the Ragged Range Project, comprising 92 km(2) of exploration
licences with highly encouraging early stage gold and nickel results in the
Pilbara region of Western Australia.
At Alford East in South Australia, Thor is earning an 80% interest in copper
deposits considered amenable to extraction via In Situ Recovery techniques
(ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate
of 177,000 tonnes contained copper & 71,000 oz gold¹.
Thor also holds a 30% interest in Australian copper development company
EnviroCopper Limited, which in turn 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 and the Alford West copper project, both situated
in South Australia, and both considered amenable to recovery by way of
ISR.²³
Thor holds 100% interest in two private companies with mineral claims in the
US states of Colorado and Utah with historical high-grade uranium and vanadium
drilling and production results.
Thor holds 100% of the advanced Molyhil tungsten project, including measured,
indicated and inferred resources⁴, in the Northern Territory of Australia,
which was awarded Major Project Status by the Northern Territory government in
July 2020.
Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of
tungsten, copper, and vanadium, including Inferred resource estimates for the
Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.
⁵
Notes
(1)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf)
(2)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf)
³
www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(http://www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf)
(4)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf)
(5)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf)
1 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 The programme comprised
specific specialised industry standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma sondes, or handheld XRF rock chip sampling based on geological outcrops, with analysis for Au by 25g
instruments, etc). These examples should not be taken as limiting the broad fire assay FA001 and multi-element by mixed acid digest - ICP-AES MA101 and
meaning of sampling. ICP-MS MA102 at Bureau Veritas Minerals Laboratory in Adelaide SA
· 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.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary Not applicable - no drilling reported
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 recovery · Method of recording and assessing core and chip sample recoveries and Not applicable - no drilling reported
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 · Whether core and chip samples have been geologically and No logging was undertaken.
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies. Lithological description recorded for all samples collected
· 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 techniques · If core, whether cut or sawn and whether quarter, half or all core Samples were screened in the field as described in "Sampling Techniques"
taken. above.
· If non-core, whether riffled, tube sampled, rotary split, etc and The sample sizes are as per industry standard for stream
whether sampled wet or dry.
· For all sample types, the nature, quality and
Criteria JORC Code explanation Commentary
and sample preparation appropriateness of the sample preparation technique. sediment geochemistry.
· Quality control procedures adopted for all sub-sampling stages to Field duplicates and blank samples were submitted for assay with the other
maximise representivity of samples. 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 of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and The proposed assay method is appropriate for preliminary exploration.
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.
Verification of sampling and assaying · The verification of significant intersections by either independent Not undertaken
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 of data points · Accuracy and quality of surveys used to locate drill holes (collar Hand held GPS - MGA94 zone 50 (GDA)
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 and distribution · Data spacing for reporting of Exploration Results. Not applicable - no 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 of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of Orientational bias is not applicable to stream and rockchip sampling at this
possible structures and the extent to which this is known, considering the stage
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.
Sample security · The measures taken to ensure sample security. Geochemistry samples were trucked back from
Nullagine to the Bureau Veritas Adelaide, SA
Sample Security levels are considered appropriate for preliminary surface
geochemistry 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 JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including Exploration results are reported on E46/1190, E46/1262, E46/1393 in Western
agreements or material issues with third parties such as joint ventures, Australia held 100% by Pilbara Goldfields Pty Ltd, Thor Mining PLC.
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 done by other parties · Acknowledgment and appraisal of exploration by other parties. Sporadic surface geochemistry over tenure carried out by Great Southern Mines
up to 1997. No previous lithium exploration.
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 No drilling has been undertaken or reported
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 methods · In reporting Exploration Results, weighting averaging techniques, Only rock chip and stream assays have been reported. There has been no data
maximum and/or minimum grade truncations (eg cutting of high grades) and aggregation.
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.
· assumptions used for any reporting of metal equivalent
· The values should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of No drilling has been undertaken or reported
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').
Diagrams · Appropriate maps and sections (with scales) and tabulations of A sample location plan including current 1:100k scale geology has been
intercepts should be included for any significant discovery being reported provided
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not All results have been reported
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be All data have been reported
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 work · The nature and scale of planned further work (eg tests for lateral It is anticipated that follow up and reconnaissance geochemistry (rockchip,
extensions or depth extensions or large-scale step- out drilling). soil & stream) and geological mapping will be undertaken over tenure ,
including Sterling and Kelly's prospects.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
Criteria JORC Code explanation Commentary
Other substantive exploration data · Other exploration data, if meaningful and material, should be All data have been reported
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 work · The nature and scale of planned further work (eg tests for lateral It is anticipated that follow up and reconnaissance geochemistry (rockchip,
extensions or depth extensions or large-scale step- out drilling). soil & stream) and geological mapping will be undertaken over tuenure ,
including Sterling and Kellys prospects.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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