REG - Thor Mining PLC - Molyhil Extension Drilling Update
28/07/2022 07:16
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220728:nRSb0045Ua&default-theme=true
RNS Number : 0045U Thor Mining PLC 28 July 2022
28 July 2022
Thor Mining PLC
("Thor" or the "Company")
Molyhil Project, Northern Territory
Molyhil Extension Drilling Update
The Directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are
pleased to announce the drill results of the diamond drilling program at the
100% owned Molyhil Critical Minerals Project, Northern Territory.
Project highlights:
§ Two of three diamond drillholes completed in late 2021 intercepted disseminated scheelite-molybdenite-chalcopyrite mineralisation hosted in a massive magnetite skarn, validating a newly identified 3D magnetic target. The drilling demonstrates that tungsten-molybdenum-copper skarn mineralisation extends along strike, to the south of the Molyhil Resource.
§ Assay results were lower than visible grade estimates and this resulted in the samples being resubmitted for analysis using two different analytical techniques, with further follow up using the coarse reject material.
§ 21MHDD002:
o 46m @ 0.06% WO(3), 0.05% Mo & 0.04% Cu from 249m,
§ including 11m @ 0.05% WO(3), 0.13% Mo & 0.06 % Cu from 272m
§ 21MHDD003:
o 4m @ 0.13% WO(3), 0.08% Mo & 0.06% Cu from 255m
§ Analytical analyses of the tungsten and molybdenum is significantly impacted by the coarse nature of the scheelite crystals in half core, combined with the malleable nature of the molybdenite when pulverised; thus, sample size is critical to the representivity of assay grades.
§ Extrapolation of the 3D model along strike has identified further high-priority drill targets
The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the "JORC Code") table is set out at the end of this announcement.
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"Although we were disappointed by the assay results, the presence of a 46m
intersection of magnetite skarn and weakly disseminated
tungsten-molybdenum-copper mineralisation is very encouraging. Exploring for
this style of mineralisation is difficult without the presence of significant
amounts of magnetite that can be easily defined in magnetic surveys. Other
magnetic targets along strike show the potential for further mineralisation at
Molyhil."
Diamond Drilling Program
Three diamond drillholes (21MHDD001, 21MHDD002, 21MHDD003) totalling 995.4m, completed in late 2021, have successfully tested and confirmed the newly identified 3D magnetic target located along strike to the south of the Molyhil Critical Minerals Project. This magnetic target represents a massive magnetite skarn hosting disseminated tungsten-molybdenum-copper mineralisation (Table A, Table B, Table C, Figure 1 and 2).
Both 21MHDD002 and 21MHDD003 intercepted disseminated mineralisation, consisting of scheelite-molybdenite and chalcopyrite within massive magnetite skarn. Drillhole 21MHDD002 intercepted 46m of disseminated mineralisation (Photo 1 and 2), whilst 21MHDD003 intercepted two zones of disseminated mineralisation over 29m of magnetite skarn. It appears 21MHDD001 intersected the edges of the magnetite skarn drilling over the top into a granite, with negligible mineralisation.
21MHDD002:
§ 46m @ 0.06% WO(3), 0.05% Mo & 0.04% Cu from 249m,
§ including 11m @ 0.05% WO(3), 0.13% Mo & 0.06 % Cu from 272m
21MHDD003:
§ 4m @ 0.13% WO(3), 0.08% Mo & 0.06% Cu from 255m
Visible grade estimations were significantly higher than compared with assays, thus resulting in the samples being resubmitted for analysis using two different analytical techniques (Lithium Borate Fusion with ICP-MS finish and XRF Fusion), with further follow up using the coarse reject material (Photos 1 and 2). Analytical analysis of the tungsten and molybdenum is significantly impacted by the coarse nature of the scheelite crystals in half core, combined with the malleable nature of the molybdenite when pulverised; hence sample size is critical to the representivity of assay grades (bulk sampling is optimal for scheelite).
The Directors believe further work on the tungsten - molybdenum - copper relationship and grade distribution is warranted.
The drilling program was co-funded by the Geophysics and Drilling Collaborations (GDC) program as part of the Resourcing the Territory initiative, with Thor Mining granted A$110,000 (RNS: THR 4 June 2021).
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf (http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf)
Photo 1: 21MHDD02- 282-283m (282.4m) - 1m @ 0.02% WO(3), 0.23% Mo & 0.07% Cu - coarse grained visible molybdenite in magnetite skarn
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf (http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf)
Photo 2: 21MHDD002: 293-294m (293.8m) - 1m @ 0.03% WO(3), 0.04% Mo and 0.06% Cu - significant visible molybdenite and chalcopyrite visible throughout intercept, contrasting to assays
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf (http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf)
Figure 1 (Left): Plan view, looking down at the conceptual pit shell (brown),
with the 0.3% WO(3) isosurface in blue, 0.15% Mo isosurface in silver, and
modelled 3D magnetics in transparent red. The yellow dashed line shows the
location of the long section (right). Interpreted mineralisation model shown
in yellow. 21MHDD001, 21MHDD002 and 21MHDD003 hole traces.
Figure 1 (Right): Long section of the Molyhil project looking west-northwest,
showing the three holes drilled in 2021 (21MHDD001, 21MHDD002 21MHDD003).
Drilled holes 21MHDD002 and 21MHDD003 intercepted tungsten-molybdenum-copper
mineralisation within magnetite skarn, whilst 21MHDD001 is interpreted to have
drilled just over the top of the mineralised zone. Bar graph to the left of
the drillholes shows Fe in magnetic susceptibility readings, indicating
magnetite-rich skarn. Mineralisation remains open at depth. The conceptual
pit shell is shown in brown, 0.3% WO(3) isosurface in blue, 0.15% Mo
isosurface in silver, and modelled 3D magnetics in red (0.175 SI), and as a
transparent red envelope (0.15 SI) and a conceptual shape representing the
down-plunge mineralised zone in yellow.
NEXT STEP:
The newly discovered extension of the tungsten-molybdenum-chalcopyrite
mineralisation to the south of the Molyhil deposit has validated the
successful 3D modelling of the geology, magnetics and mineralisation.
This 3D modelling has identified further high priority targets for drill testing along strike (Figure 2).
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf (http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf)
Figure 2: 3D modelling of magnetics (transparent red) highlights Molyhil deposit and the recently drilled southeast plunging extension, plus drill targets along strike.
Project Background
The Molyhil deposit is located 220km north-east of Alice Springs (320km by road) within the prospective polymetallic province of the Proterozoic Eastern Arunta Block, in the Northern Territory (Figure 4).
In April 2021 (AIM: THR 8 April 2021) a revised Mineral Resource Estimate comprising Measured, Indicated, and Inferred Mineral Resources, totalling 4.4 million tonnes at 0.27% WO(3) (Tungsten trioxide), 0.10% Mo (Molybdenum), and 0.05% Cu (Copper) using a 0.07% WO(3) cut-off.
https://www.londonstockexchange.com/news-article/THR/mineral-resource-estimate-updated/14928598 (https://www.londonstockexchange.com/news-article/THR/mineral-resource-estimate-updated/14928598)
http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf (http://www.rns-pdf.londonstockexchange.com/rns/0045U_1-2022-7-27.pdf)
Figure 3: Tenement & Prospect Location Plan
Table A: Drill Hole Collar Summary
DRILLHOLE EASTING NORTHING ELEVATION AZIMUTH DIP End of Hole
21MHDD001 577207 7482773 409 262 60 324.5
21MHDD002 577220 7482774 409 278 60 334.2
21MHDD003 577069 7482780 412 082 87 336.7
Notes: Coordinates in GDA 94 Zone 53, as previously announced AIM 7 Dec 2021
Table B: Geology
DRILLHOLE GEOLOGY FROM (M) TO (M) DOWNHOLE INTERCEPT (M)
21MHDD001 Calc-Silicate 159.1 255.8 96.7
21MHDD002 Magnetite Skarn 244 297 47
21MHDD003 Magnetite Skarn 255 259 4
21MHDD003 Magnetite Skarn 274.5 283.5 9
Notes: as previously announced AIM 7 Dec 2021
Table C: Drill Intercepts - 21MHDD002 and MHDD03
DRILLHOLE FROM (M) TO (M) Intercept (M)
Lithium Borate Fusion with ICP-AES/MS XRF Fusion
(LB102/ MA101/102) (XF300)
WO(3) % Mo % Cu % WO(3) % Mo % Cu %
21MHDD002 249 295 46 0.06 0.05 0.04 0.06 0.04 0.04
Including 272 283 11 0.05 0.13 0.06 0.05 0.12 0.05
21MHDD003 255 259 4 0.13 0.08 0.06 0.13 0.10 0.05
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
Jessica Cave / 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)
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210901-pilot-mountain-project-us1.8m-sale-option.pdf)
1 JORC Code, 2012 Edition - Table 1 report template
1.1 Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random · Drilling was conducted by Durock Drilling Pty Ltd
chips, or specific specialised industry standard measurement tools appropriate
to the minerals under investigation, such as down hole gamma sondes, or · pXRF taken every 0.5m down hole. Vanta C Series 800427 XRF -40sec
handheld XRF instruments, etc). These examples should not be taken as limiting reading time. Instrument calibrated externally annually and with QA/QC at
the broad meaning of sampling. start prior to sampling and calibration disc every 30 readings
· Include reference to measures taken to ensure sample · Magnetic susceptibility recorded every 1m down hole
representivity and the appropriate calibration of any measurement tools or
systems used. · UV light used for tungsten/scheelite visual estimates
· Aspects of the determination of mineralisation that are · Diamond drilling program with half core sampled for
Material to the Public Report.
o Au fire assay FA001
· In cases where 'industry standard' work has been done
this would be relatively simple (eg 'reverse circulation drilling was used to o Tungsten - Lithium Borate Fusion with ICP-AES/MS finish (LB101/102) with
obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for mixed digest for molybdenum and copper plus full element package
fire assay'). In other cases more explanation may be required, such as where
there is coarse gold that has inherent sampling problems. Unusual commodities o Tungsten, Molybdenum and copper - XRF Fusion (XF300)
or mineralisation types (eg submarine nodules) may warrant disclosure of
detailed information. · Samples submitted to Bureau Veritas (BV), SA. Standard blank and
duplicate inserted every 25 samples
· All co-ordinates are in UTM grid (GDA94 Z53) and drill hole collars
have been surveyed by DGPS to an accuracy of 0.1m. Down holes surveys using
Gyro every 6m.
· Diamond samples were collected at geologically defined intervals
(minimum sample length 0.1m, maximum sample length 1.5m) for all drill holes
in the current program Samples are cut using an automated diamond saw and half
core is submitted for analysis at Bureau Veritas, SA. The sample size is
deemed appropriate for the grain size of the material being sampled.
· Mineralisation is determined by descriptive geological logs for diamond
hole as well as the incorporation of assay results and pXRF readings
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary air · Diamond drilling
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type, · 21MH001 - HQ 0-20m followed by NQ2
whether core is oriented and if so, by what method, etc).
· 21MHDD02 - HQ
· 21MHDD003 - HQ
· Oriented core
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Recovery from diamond core was recorded for all core runs, with
results assessed. overall recovery very good. All diamond core was oriented where possible.
· Measures taken to maximise sample recovery and ensure representative · Diamond core was reconstructed into continuous runs for orientation
nature of the samples. marking with depths checked against core blocks.
· Whether a relationship exists between sample recovery and grade and · No relationship was noted between recorded sample recovery and grade.
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 geotechnically · All holes were field logged by company geologists to a high level of
logged to a level of detail to support appropriate Mineral Resource detail.
estimation, mining studies and metallurgical studies.
· Core was oriented and routinely logged for RQD, alpha/beta angles,
· Whether logging is qualitative or quantitative in nature. Core (or dips, azimuths, and true dips.
costean, channel, etc) photography.
· All drill samples were logged for lithology, rock type, colour,
· The total length and percentage of the relevant intersections logged. mineralisation, alteration, and texture. It has been standard practice by Thor
(since 2005), that all diamond core be routinely photographed.
· All drill holes were logged in full.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · Diamond core to cut in half using a core saw with half core submitted
taken. for assay.
· If non-core, whether riffled, tube sampled, rotary split, etc and · Sampling is carried out using standard protocols and QAQC procedures
whether sampled wet or dry. as per industry practice.
· For all sample types, the nature, quality and appropriateness of the Field QAQC procedures involved the use of certified standards, blanks and
sample preparation technique. duplicate sample submitted every 25 samples. These are routinely checked
against originals.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. Based on visual estimates for tungsten, molybdenum and chalcopyrite being
higher than initial assay results (using Lithium Borate Fusion with ICP_MS
· Measures taken to ensure that the sampling is representative of the in finish and mixed digest), sample pulps were re-assayed using alternative
situ material collected, including for instance results for field analysis (XRF Fusion). Selected intercepts were repeated using coarse reject.
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 laboratory · Magnetic susceptibility recorded every 1.0m down hole.
procedures used and whether the technique is considered partial or total.
· pXRF recording recorded every 1.0m down hole.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and · Diamond core sampled through potential Magnetite skarn tungsten,
model, reading times, calibrations factors applied and their derivation, molybdenite and copper zones.
etc.Ba, Mo
· Samples submitted to Bureau Veritas for
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of o 50g fire assay for Au
accuracy (ie lack of bias) and precision have been established.
o XRF Fusion (XF300)- fused with Lithium Borate Flux and 15% NaNO(3) for
WO(3), Mo & Cu
o Lithium Borate Fusion (LB102) with ICP-MS finish for WO(3) with mixed digest
with ICP_MS finish for Mo & Cu (MA0102) and full element package
· Internal certified laboratory QAQC is undertaken including check
samples, blanks and internal standards
Verification of sampling and assaying · The verification of significant intersections by either independent or · All drilling data is collected in a series of templates in excel
alternative company personnel. including geological logging, sample information, collar and survey
information,
· The use of twinned holes.
· All data is validated and imported into hosted database
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols. · No adjustments have been made to the assay data.
· Discuss any adjustment to assay data. · All significant intersections have been verified by an alternative
company geologist.
· There are no twinned drillholes
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar and · Drill hole collars and starting azimuths have been surveyed using GPS
down-hole surveys), trenches, mine workings and other locations used in (-/+ 5m) - for later DGPS pick ups
Mineral Resource estimation.
· Drill hole locations were positioned using the MGA Grid System.
· Specification of the grid system used.
· The topographic surface is highly accurate with DPG (-/+1m)
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Drill holes have been located to test a newly defined magnetic target
to the south of the Molyhil lodes.
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral · Drillhole spacing is sufficient to test geological target
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 · Drill holes are orientated / predominantly drilled at an angle of
possible structures and the extent to which this is known, considering the -60° to the west which is approximately perpendicular to the orientation of
deposit type. the interpreted target.
· 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. · Core was cut at company core yard located in Alice Springs and
freighted to Adelaide for submission to Bureau veritas, Adelaide for analysis
· All submissions with chain of custody measures implemented.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · A review of sampling techniques and data has been carried out as Thor
transition from inhouse based database to online hosted database with MaxGeo.
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 · The tenements at Molyhil comprise EL22349, ML23825, ML24429 and
agreements or material issues with third parties such as joint ventures, ML25721. For all tenements Thor Mining PLC hold 100% Project Equity.
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. · Thor has completed the Public Environmental Report for the Molyhil
Tungsten and Molybdenum Project. This report has been accepted by the
· The security of the tenure held at the time of reporting along with any Department of Regional Development, Primary Industry, Fisheries and Resources
known impediments to obtaining a licence to operate in the area. in the Northern Territory
· This report was approved on the 15th July 2007 by the DRDPIFR (NT),
who also confirmed in December 2011 that the approval remains current. The
report is available on request.
· Approved MMP for drilling was acquired- 2021
· Thor Mining PLC has also obtained all the required agreements between
the Traditional Owners of the land, and Thor Mining PLC, to enable the Molyhil
Operations to proceed with the recognition and support of the Traditional
Owners.
· The Tripartite Deed records the terms of the Agreement between the
parties in accordance with the Native Title Act and is between the Arrapere
People, the Central Land Council and Thor Mining PLC.
· There are no known impediments to obtaining a licence to operate in
the area.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Tungsten and molybdenum mineralisation was originally discovered at
Molyhil in 1973. The Molyhil deposit was initially drilled in 1977 with
further drilling carried out in 1981. The work was carried out by Fama Mines
Pty Ltd, Petrocarb NL, Nicron resources NL and Geopeko. Between 1975 and 1976
approximately 20kt of molybdenum and tungsten mineralisation were mined from
the northern Yacht Club skarn body to a depth of approximately 25m.
Geology · Deposit type, geological setting and style of mineralisation. · The Molyhil deposit consists of two adjacent outcropping iron rich
skarn bodies, marginal to a granite intrusion, that contain scheelite
(tungsten mineralisation as CaWO(4)) and molybdenite (molybdenum as MoS(2))
mineralogy. Both the outlines of, and the banding within, the skarn bodies
strike approximately north-south and dip steeply to the east. The bodies are
arranged in an en échelon manner, the northeast body being named the Yacht
Club and the southwest body the Southern.
Drill hole Information · A summary of all information material to the understanding of the · A collar summary table is included in report
exploration results including a tabulation of the following information for
all Material drill holes: · In the opinion of Thor, historic drill results have been adequately
reported previously to the market as required under the reporting requirements
o easting and northing of the drill hole collar of the ASX Listing Rules
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, · A weighted average was used to report drill intercepts - all 1m
maximum and/or minimum grade truncations (eg cutting of high grades) and intercepts.
cut-off grades are usually Material and should be stated.
· No metal equivalent reported
· 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.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · Drill holes were orientated predominantly to an azimuth of 270° and
Exploration Results. angled to a dip of -60°, which is approximately perpendicular to the
orientation of the mineralised trends.
· 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 · Location, section and plans included in 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 · Exploration results for all 3 drillholes in newly identifies
practicable, representative reporting of both low and high grades and/or extension are reported.
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be reported · 3D geological and magnetic modelled data included in report.
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 · Based on revised modelling of data additional drilling is planned.
extensions or depth extensions or large-scale step-out drilling).
· Possible extensions are shown on diagrams
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DRLEADXXAEEAEAARecent news on Thor Energy
See all newsREG - Thor Energy PLC - Quarterly Activities and Cash Flow Report
AnnouncementREG - Thor Energy PLC - Completion of Stage 1 Earn-In Commitment - Molyhil
AnnouncementREG - Thor Energy PLC - 3D Model Shows Alford East Copper Mineralisation
AnnouncementREG - Thor Energy PLC - Half-year Report
AnnouncementREG - Thor Energy PLC - High Grade Uranium and Vanadium Assays Results
Announcement