Picture of Thor Energy logo

THR Thor Energy News Story

0.000.00%
gb flag iconLast trade - 00:00
Basic MaterialsHighly SpeculativeMicro CapNeutral

REG - Thor Mining PLC - Over 45m of Mineralisation Intercepted at Molyhil

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211123:nRSW1986Ta&default-theme=true

RNS Number : 1986T  Thor Mining PLC  23 November 2021

23 November 2021

 

 

Thor Mining PLC

 

Over 45m of Tungsten-Molybdenum-Copper Mineralisation Intercepted
Molyhil Project, Northern Territory
 
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce that the second hole in the diamond drilling program (21MHDD002) intercepted scheelite, molybdenite and chalcopyrite mineralisation within a magnetite skarn, at the Molyhil tungsten-molybdenum-copper Project in the Northern Territory.
 
Project highlights:
·      21MHDD002 intercepted over 45m of disseminated scheelite-molybdenite-chalcopyrite mineralisation in a massive magnetite-rich skarn.
·      Drilling confirms that the newly identified magnetic target to the south of the Molyhil deposit is a continuation (possibly offset) of the Molyhil deposit tungsten-molybdenum-copper mineralisation.
·      Based on the success of the second drillhole, a third hole is now underway, designed to target the projection of the 21MHDD002 mineralisation down plunge.
 
Photo 1: A photo of 21MHDD002 (275.4m) - massive magnetite skarn with disseminated scheelite and molybdenite mineralisation and bands of chalcopyrite may be viewed by the following link:
https://www.thormining.com/sites/thormining/media/maps/p1000233.jpg (https://www.thormining.com/sites/thormining/media/maps/p1000233.jpg)

 
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"We are excited to be sharing this new discovery at our Molyhil critical metals project.
Testing a new geological concept, in this case an interpreted magnetic target from 3D modelling to the south of existing mineralisation, has paid off significantly. The tungsten-molybdenum-copper mineralisation is open to the south and the third hole is designed to test this south plunging model.
The extension of this mineralisation, directly south of the deposit, in a previously untested area, is pivotal to the overall Molyhil project. We look forward to updating shareholders as more information becomes available."
 
Diamond Drilling Program
During a 3D geological and geophysical modelling exercise completed in March-April 2021 a potential extension to the known Molyhil tungsten-molybdenum-copper mineralisation was defined by a large magnetic target (Figure 2 and 3). It was noted that previous drilling in this area had not tested the newly identified magnetic body.
Two drillholes (21MHDD001 and 21MHDD02) of the planned diamond drilling program are near complete and based on the success of the second hole a third hole is now underway (DD hole C) (See Table A and B and Figure 1 and 2).
21MHDD002 intercepted over 45m of disseminated mineralisation, consisting of scheelite-molybdenite and chalcopyrite within massive magnetite skarn from 249.7m (Photo 1 and 2). It appears 21MHDD001 hit the edges of the magnetite skarn however, with negligible mineralisation. Initial interpretation of data highlights a potential south plunging lode extending south of the Southern lode with a possible offset (yet to be determined) (Figure 2).
The 3D geological modelling of the Molyhil deposit identified two prominent structures - Yacht Club fault and South Offset fault (Figure 1 and 2). Based on the geological timing of these faults, they appear to have had a significant impact on mineralisation, such as offsetting the Yacht Club mineralisation from the Southern Lode, hence creating targets for potential extensions. Modelling of the South Offset Fault, relative to the magnetics, strongly implies an offset of the magnetic material (interpreted to be magnetite skarn) host to the tungsten-molybdenum-copper mineralisation, south of the South Offset fault.

Diamond drilling is being carried out by Durock Drilling Pty Ltd and is
anticipated to take approximately one week to complete hole 3. Thor expects to
receive assay results back in the first quarter of 2022.

The drilling program is 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 (AIM: THR 4 June 2021).

Photo 2: A photo of 21MHDD002 (272.2 - 275.7m) - massive magnetite skarn with disseminated scheelite and molybdenite (metallic silver mineralisation and bands of chalcopyrite (yellow), may be viewed by the following link:
https://www.thormining.com/sites/thormining/media/maps/p1000228.jpg (https://www.thormining.com/sites/thormining/media/maps/p1000228.jpg)

 

Figure 1: 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 (Figure 3). 21MHDD001 and 21MHDD002 completed with DD Hole C
underway. The image may be viewed by the following link:

https://www.thormining.com/sites/thormining/media/maps/plan-view.jpg
(https://www.thormining.com/sites/thormining/media/maps/plan-view.jpg)

 

Figure 2: Long section of the Molyhil project looking west-northwest, showing
two drilled holes and a third planned hole. Drilled holes, 21MHDD001 and
21MHDD002, were targeted into the magnetic anomaly where it appears offset at
depth by faulting. The next planned hole, DD Hole C, is planned to intersect
the geological plunge of the mineralised intercept in 21MHDD002. 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.

The image may be viewed by the following link:

https://www.thormining.com/sites/thormining/media/Maps/section-view.jpg
(https://www.thormining.com/sites/thormining/media/Maps/section-view.jpg)

 

Project Background
The Molyhil deposit is located 220 kilometres north-east of Alice Springs (320 km by road) within the prospective polymetallic province of the Proterozoic Eastern Arunta Block, in the Northern Territory (Figure 3).
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.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf (https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf)

 

Figure 3: The Tenement & Prospect Location Plan may be viewed by the
following link:

https://www.thormining.com/sites/thormining/media/maps/molyhilmap.jpg
(https://www.thormining.com/sites/thormining/media/maps/molyhilmap.jpg)

 

 

Table A: Drill Hole Collar Summary

 DRILLHOLE   EASTING  NORTHING  ELEVATION  AZIMUTH  DIP  EOH
 21MHDD001   577207   7482773   409        262      60   324.5
 21MHDD002   577220   7482774   409        278      60   TBA
 DDH Plan C  577069   7482780   412        082      87   340 (Planned)

Coordinates in GDA 94 Zone 53

 

 

Table B: Geology

 DRILLHOLE  GEOLOGY          FROM (M)  TO (M)  DOWNHOLE INTERCEPT (M)
 21MHDD001  Calc-Silicate    159.1     255.8   96.7
 21MHDD002  Magnetite Skarn  249.7     296.6   46.9

 

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.

 

This announcement is authorised for release to the market by the Board of
Directors.

 

- Ends -

 

For further information on the Company, please visit www.thormining.com
(http://www.thormining.com)  or contact the following:

 

 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

 Jasper Berry (Corporate Broking)
                                                          Tel: +44 (0) 1483 413 500

 SI Capital Limited (Joint Broker)
 Nick Emerson

 Yellow Jersey (Financial PR)                             thor@yellowjerseypr.com
 Sarah Hollins / Henry Wilkinson                          Tel: +44 (0) 20 3004 9512

 

 
Competent Persons Report

The information in this report that relates to Exploration Results and the
Estimation and Reporting Molyhil Mineral Resource Estimation 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, for which drilling is currently underway.

At Alford East in South Australia, Thor is earning an 80% interest in
copper-gold deposits considered amenable to extraction via In Situ Recovery
techniques (ISR). In January 2021, Thor has 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)
 

Compliance with the JORC Code Assessment Criteria

The JORC Code (2012) describes a number of criteria, which must be addressed
in the documentation of Mineral Resource estimates, prior to public release of
the information.  These criteria provide a means of assessing whether or not
the data inventory used in the estimate is adequate for that purpose.  The
resource estimate stated in this document was based on the criteria set out in
Table 1 of that Code. These criteria have been discussed in the main body of
the document and are summarised below. Only sections relevant to the reported
resource have been addressed.  The JORC Code Assessment Criteria in the
following table are italicised.

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

 Criteria                                                 JORC Code explanation                                                            Commentary
 Sampling techniques                                      ·              Nature and quality of sampling (eg cut channels,                  ·       Report refers to visual geological logging only
                                                          random chips, or specific specialised industry standard measurement tools

                                                          appropriate to the minerals under investigation, such as down hole gamma         ·       Drilling was conducted by Durock Drilling Pty Ltd
                                                          sondes, or handheld XRF instruments, etc). These examples should not be taken

                                                          as limiting the broad meaning of sampling.                                       ·       Core to be cut for sample preparation

                                                          ·              Include reference to measures taken to ensure                     ·       pXRF taken every 0.5m down hole
                                                          sample representivity and the appropriate calibration of any measurement tools

                                                          or systems used.                                                                 ·       Magnetic susceptibility recorded every 0.5m down hole

                                                          ·              Aspects of the determination of mineralisation                    ·       UV light used for tungsten/scheelite visual estimates
                                                          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          ·      Diamond drilling
                                                          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,          ·      21MH001 - HQ 0-20m followed by NQ2
                                                          whether core is oriented and if so, by what method, etc).

                                                                                                                                           ·      21MHDD02 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
                                                          nature of the samples.                                                           orientation 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
                                                          whether sample bias may have occurred due to preferential loss/gain of           grade.
                                                          fine/coarse material.
 Logging                                                  ·    Whether core and chip samples have been geologically and                    ·      All holes were field logged by company geologists to a high level
                                                          geotechnically logged to a level of detail to support appropriate Mineral        of detail.
                                                          Resource estimation, mining studies and metallurgical studies.

                                                                                ·      Core was oriented and routinely logged for RQD, alpha/beta
                                                          ·    Whether logging is qualitative or quantitative in nature. Core (or          angles, 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 be cut in half using a core saw with half core
                                                          taken.                                                                           submitted for assay.

                                                          ·    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
                                                          sample preparation technique.

                                                          ·    Quality control procedures adopted for all sub-sampling stages to
                                                          maximise representivity of 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                 ·      Core currently be prepared for cutting - half core - prior to
                                                          laboratory procedures used and whether the technique is considered partial or    submission to laboratory.
                                                          total.

                                                                                ·      Magnetic susceptibility recorded every 0.5m down hole.
                                                          ·    For geophysical tools, spectrometers, handheld XRF instruments, etc,

                                                          the parameters used in determining the analysis including instrument make and    ·      pXRF recording recorded every 0.5m down hole.
                                                          model, reading times, calibrations factors applied and their derivation,
                                                          etc.Ba, Mo

                                                          ·    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         ·      No assay data reported - samples being prepared for laboratory
                                                          or alternative company personnel.                                                submission

                                                          ·    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          ·      Drill hole collars and starting azimuths have been surveyed using
                                                          and down-hole surveys), trenches, mine workings and other locations used in      GPS (-/+ 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 is onsite where it will be cut prior to sample submission
                                                                                                                                           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 listed in the preceding section also apply to this section.)

 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         Department of Regional Development, Primary Industry, Fisheries and Resources
                                                                   any 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.

                                                                                                                                                    ·      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
                                                                   o easting and northing of the drill hole collar                                  requirements 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,           ·      No data aggregation reported.
                                                                   maximum and/or minimum grade truncations (eg cutting of high grades) and
                                                                   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.

                                                                   ·    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°
                                                                   Exploration Results.                                                             and 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 are not being 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               ·      3D geological and magnetic modelled data included in report.
                                                                   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          ·      Based on revised modelling of data additional drilling is
                                                                   extensions or depth extensions or large-scale step-out drilling).                planned.

                                                                   ·    Diagrams clearly highlighting the areas of possible extensions,             ·      Possible extensions are shown on diagrams
                                                                   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  DRLXLLLLFFLFFBF

Recent news on Thor Energy

See all news