REG - Thor Mining PLC - High-grade gold intersected at Kelly’s Ridge, WA
04/11/2022 07:16
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RNS Number : 3443F Thor Mining PLC 04 November 2022
4 November 2022
Thor Mining PLC
("Thor" or the "Company")
High-grade gold intersected at Kelly's Ridge
Ragged Range, WA
4m @ 12.2g/t Au from 194m in hole 22RRC0052
Awaiting further assays
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are
pleased to provide initial drill results from Kelly's Ridge Prospect, Ragged
Range, located in the Eastern Pilbara, Western Australia.
Project highlights:
§ Drilling returns high-grade gold from the silicified altered contact along
Kelly's Ridge. Previous rock chip sampling at surface reported up to 15g/t Au
and 535g/t Ag. Historical drilling reported 1.5m @ 22.97 g/t Au below these
rock chips and four holes were designed to intersect this anomalous zone at
depth.
§ Best intercept to date of 4m @ 12.2g/t Au from 194m (22RRC0052).
§ Only selected gold results received to date. Expecting all gold and
multi-element assay data over the coming weeks.
§ This first round of gold-only assays come from few selected intervals in
the first four holes of the 10-hole program, showing strong alteration as seen
in the chip tray photo below.
Photo 1: RC Chips from 22DDRC052 at Kelly's Ridge Prospect, Ragged Range
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"We are delighted to share these high-grade intercepts from Kelly's Ridge. The
intercept of 4m @ 12.2g/t Au is an exceptional result under Kelly's Ridge,
especially given the depth of the 194m downhole, showing excellent grade
continuity from the surface. This confirms the potential of the site as
indicated by historical drilling. Furthermore, with more drilling results to
come, we are looking forward to gaining further understanding of the project.
We anticipate more positive news to be shared with the market in due course."
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 E46/1393 - Figure 2 and Figure 3).
Figure 1: Location Plan
Kelly's Prospect
The first results of gold-only assays from a small portion of the Kelly's
Ridge drilling have been received from the recently completed RC drilling
program at Kelly's Prospect, Figure 1 and Figure 2 (ASX/AIM: THR 26 October
2022).
Drilling at Kelly's Ridge was multi-purposed: it was designed to test below
the high-grade rock chips returning up to 15g/t Au and 535g/t Ag along the 1km
silicified ridge at the contact between the Boobina Porphyry and Euro Basalt;
as well as testing below and along strike of the historic drillhole
(DDHK2(1)), that intersected 1.5m @ 22.97g/t gold located at the
porphyry-basalt contact (Figure 3).
Gold-only results (awaiting multi-element results) from sections of the first
four drillholes confirmed gold mineralisation associated with silicification
and sericite-sulphide alteration at the contact between the Boobina Porphyry
and the Euro Basalt (Figure 2, 3 and 4, Table A).
Significant results received to date include (greater than 0.8 g/t Au):
· 4m @ 12.2g/t Au from 194m (22RRC052)
· 1m @ 0.91 g/t Au (repeat 1.2g/t Au) from 40m (22RRC049)
(Refer to Table A for Collar information)
This small reconnaissance program included six holes along Kelly's Ridge, two
below the historic Kelly's copper mine and two at Kelly's NE gold target.
Results for all gold and multielement assay data are anticipated over the next
few weeks.
Figure 2: Kelly's Prospect, highlighting drill collars and gold in rock chips.
Figure 3: Kelly's Ridge cross section A-A', showing drill collars, historic
drill intercept and high-grade rock chip-only a small portion of assay results
received to date
Figure 4: Kelly's Ridge cross section B-B' showing high grade gold intercept
at contact
Table A: Kelly's Prospect Drill Collar Information (MGA94 Z50)
Hole ID Easting Northing RL EOH Dip Azi_TN Comments
22RRRC049 797810 7586934 409 174 -55 230 Partial results - gold only
22RRRC050 797813 7586935 409 204 -65 227 Partial results - gold only
22RRRC051 797791 7586973 410 131 -55 230 Failed hole at 131m (short of target)
22RRRC052 797793 7586974 410 205 -65 231 Partial results
22RRRC053 797697 7587096 408 162 -54 231 Awaiting results
22RRRC054 797662 7587132 407 174 -55 230 Awaiting results
22RRRC055 798131 7587427 405 70 -55 253 Awaiting results
22RRRC056 798100 7587520 402 72 -55 250 Awaiting results
22RRRC057 797265 7587652 403 174 -55 215 Awaiting results
22RRRC058 797180 7587725 403 204 -55 270 Awaiting results
Next Steps
The following activities and results at Ragged Range are anticipated over the
coming weeks:
1. Report of full assay results from the Kelly's drilling program.
2. Report of Platinum Group Elements (PGE) results from the Krona
Nickel drillhole - 22RRC045 - associated with the 66m @ 0.2% Ni from 81m
(ASX/AIM: THR 20 September 2022).
3. Continue regional exploration, including reconnaissance sampling
over ground in the northern portion of tenure for prospective
lithium-caesium-tantalum enriched (LCT) pegmatites.
References:
1. DDHk2, drilled by Hawkstone 1969, Open File Annual Report
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
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
1.1 Section 1 Sampling Techniques and Data
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or Reverse circulation drill samples were collected utilising a PVC sampling
specific specialised industry standard measurement tools appropriate to the spear on the drill cutting piles to collect a 4m composite sample weighing
minerals under investigation, such as down hole gamma sondes, or handheld XRF approximately 3kg. Equal portions were taken from each pile to ensure
instruments, etc). These examples should not be taken as limiting the broad representative samples and every metre was sampled. In addition, 1m samples
meaning of sampling. were collected directly off the cyclone (1/8 split), which can be assayed as
required to replace the 4m composite sample results. In zones of visual
· Include reference to measures taken to ensure sample representivity interest during drilling, these 1m splits were submitted for analysis instead
and the appropriate calibration of any measurement tools or systems used. of the 3m composites.
· 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 Reverse circulation drilling (5 ¼
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, inch diameter)
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 Sample recovery was good. Each drill cutting pile size is logged and any
results assessed. deviation from expected is raised with the driller, and if undersize, to check
for blockages. No sample biases are expected, and no relationship is known to
· Measures taken to maximise sample recovery and ensure representative exist between sample recovery and grade.
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 All chip samples are qualitatively geologically logged (lithology, structure,
geotechnically logged to a level of detail to support appropriate Mineral alteration, veining, mineralisation, weathering, colour and other features).
Resource estimation, mining studies and metallurgical studies. No mineral resource estimation, mining studies or metallurgical studies have
been conducted at this stage, but samples have been logged in sufficient
· Whether logging is qualitative or quantitative in nature. Core (or detail to use for this function.
costean, channel, etc) photography.
· The total length and percentage of the relevant intersections logged.
Sub- sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core Drill samples were taken dry with a PVC spear as described in "Sampling
taken. Techniques" above. The sample sizes are as per industry standard for RC
drilling.
· 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 Sampling is carried out using standard protocols and QAQC procedures as per
sample preparation technique. industry practice.
· Quality control procedures adopted for all sub-sampling stages to Field QAQC procedures for drilling involved the use of a certified standard,
maximise representivity of samples. blank and field duplicate sample submitted every 20 samples (i.e., 17 samples
and 3 QAQC samples). These are routinely checked against originals.
· 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.
All samples were sent to Bureau Veritas Laboratories in, which is an ISO 9001
· Whether sample sizes are appropriate to the grain size of the accredited laboratory. Sample preparation includes sorting and drying,
material being sampled. followed by LM5 pulverising (PR303).
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and The assay method is considered 'industry standard' and appropriate for
laboratory procedures used and whether the technique is considered partial or exploration.
total.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and Drill samples were assayed at Bureau Veritas Laboratories in by lead
model, reading times, calibrations factors applied and their derivation, etc. collection fire assay with a 40g charge and AAS finish for gold with a
detection limit of 0.01ppm (FA001)
· 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.
Internal certified laboratory QAQC was undertaken including check samples,
duplicates, blanks and internal standards
Handheld pXRF readings
readings are taken on -2mm sieved samples on every drill metre, using an XTL5
Niton with a 40 second reading time.
Instrument is calibrated at start of each day, along with QAQC of 1 standard
and 1 blank. External instrument calibration completed annually.
All drill samples are measured for magnetic susceptibility at 1m intervals
using a hand-held magnetic susceptibility meter.
Verification of sampling and assaying · The verification of significant intersections by either independent All significant intersections have been verified by a company geologist and
or alternative company personnel. alternative company geologist.
· The use of twinned holes. There are no twinned drillholes.
· Documentation of primary data, data entry procedures, data All drilling data is collected in a series of templates in excel including
verification, data storage (physical and electronic) protocols. geological logging, sample information, collar and survey information.
· Discuss any adjustment to assay data. All data is digitally recorded in the company's electronic database, managed
by external database company utilising Datashed5 software.
No adjustments have been made to the assay data.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar Drill collars were surveyed using a handheld Garmin 62s GPS with an accuracy
and down-hole surveys), trenches, mine workings and other locations used in of +/-3m. Grid system is MGA94 zone 50 (GDA). Drill rig alignment at the
Mineral Resource estimation. collar was conducted using a north seeking gyro. Topographic control using the
GPS is suitable for early- stage exploration.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. Data spacing for preliminary exploration is deemed sufficient to test
geochemical anomalies and mapped structural features. No sample compositing of
· Whether the data spacing and distribution is sufficient to establish data was conducted. Sufficiently anomalous assays and any other zones of
the degree of geological and grade continuity appropriate for the Mineral interest will be assayed in more detail using the 1m samples collected off the
Resource and Ore Reserve estimation procedure(s) and classifications applied. cyclone.
· 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 RC drilling at this stage but samples
possible structures and the extent to which this is known, considering the and drill lines were orientated approximately perpendicular to the assumed
deposit type. strike of gold mineralisation.
· 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. All samples taken from Newman to Bureau Veritas, via registered express
freight company.
Sample Security levels are considered appropriate for RC Drilling.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. None undertaken. Thor's sampling procedure conforms to industry standard
practice and each assay program is reviewed internally for any discrepancies.
1.1 Section 2 Reporting of Exploration Results
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including Exploration results are reported on E46/1393 in Western Australia held 100% by
agreements or material issues with third parties such as joint ventures, 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.
CRAE explored are in 1994.
1966 - 1974 - the area was explored by Conwest, Cominco and Hawkstone drilling
2 holes DDHK1 and DDHK2 with a copper focus.
Keely Copper Mine was worked between 1955 - 1970 intermittently.
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 Tables, plans and sections summarising significant drill results are included
exploration results including a tabulation of the following information for in the report
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, All aggregate drill intercepts are length weighted and there was no internal
maximum and/or minimum grade truncations (eg cutting of high grades) and dilution incorporated. No metal equivalents have been reported.
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 All results are assumed to be true width but is not definitively known at this
Exploration Results. stage.
· 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 Appropriate maps and sections are included in the report.
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.
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 No meaningful or material information has been omitted from this release.
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 drilling 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.
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