REG - Thor Mining PLC - Pilbara Goldfields Follow-Up Sampling

Thor EnergyAnnouncement

31/07/2020 07:00

RNS Number : 7351U
  
Thor Mining PLC
  
31 July 2020
  
 

31 July 2020
THOR MINING PLC
PILBARA GOLDFIELDS - VISIBLE GOLD IN FOLLOW-UP SAMPLING
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) are pleased to advise visible gold from sample panning of the second phase of gold, nickel, and chromium geochemical sampling at the 100% owned Pilbara Goldfield tenements (E46/1262 and E46/1190) in Western Australia.
HIGHLIGHTS:
·      17 of the 32 stream sediment samples had visible gold in panning
·      Two of the 2019 sample sites (19PST22 and 19PST32) had visible gold in multiple follow up stream sediment samples (tables 1 & 2)
·      Samples 20PST04 and 20PST24 returned 13 and 11 grains respectively from panning
·      Gossan with prior nickel in rock chips was mapped and sampled over 800 strike metres.
 
Mick Billing, Executive Chairman of Thor Mining, commented: 
"This appears to be a highly successful follow up, to the previous, very successful, sampling program."
"To find visible gold in multiple sites in very close proximity to previous gold samples is very encouraging".
"We look forward eagerly to confirmatory gold assays along with assays of the potential nickel site samples".
A total of 32 stream sites and 49 gossan sites were sampled (tables 1 & 3) and are now undergoing laboratory assay with results expected to be available in two to three weeks. 
The program was designed to follow up the eight most encouraging sites from the 2019 reconnaissance program in addition to locating and testing the area of gossan identified by the WA Geological Survey.
Table 1: 2020 Stream sediment samples grouped by target site 




Sample No


Target Site


Easting


Northing


Tenement


Gold Grains


Pan Comment




20PST03


19PST22


779624


7588632


E46/1190


2


1 flat 1 chunky




20PST04


779729


7588684


E46/1190


13


fine to vv fine




20PST05


779761


7588724


E46/1190


1


 




20PST09


779760


7588520


E46/1190


5


1 nugget 4 med flat




20PST10


779801


7588687


E46/1190


 


 




20PST19


779388


7588358


E46/1190


2


vv coarse




20PST20


779459


7588344


E46/1190


1


v fine




20PST21


779598


7588041


E46/1190


2


V fine




20PST23


19PST32


780936


7586392


E46/1190


3


2fine and 1vfine




20PST24


781010


7586306


E46/1190


11


v coarse to fine




20PST25


780941


7585818


E46/1190


2


v fine




20PST26


780761


7585374


E46/1262


 


 




20PST27


780752


7585410


E46/1262


 


 




20PST30


780734


7586012


E46/1262


 


 




20PST33


780829


7586516


E46/1262


1


v fine




20PST34


780995


7586393


E46/1190


1


 




 
Gold Anomalism
Eight stream sediment sample sites from the 2019 sampling program had follow up sampling. The best gold panning results show further gold in multiple stream sediment samples upstream of two of the 2019 test sites 19PST22 and 19PST32. These two sites have similar geological settings and are situated approximately 800 metres along strike of each other. The areas directly up stream of each site require follow up evaluation as well as the entire 800 metre strike length between the sites.
Gold assay results are to follow.
Table 2: 2020 Stream sediment sample gold panning summary




Sample No


Easting


Northing


Tenement


Gold Grains


Pan Comment






20PST01


784289


7581111


E46/1262


 


 




20PST02


784319


7581111


E46/1262


1


 




20PST03


779624


7588632


E46/1190


2


1 flat 1 chunky




20PST04


779729


7588684


E46/1190


13


fine to vvfine




20PST05


779761


7588724


E46/1190


1


 




20PST06


780111


7590646


E46/1190


 


 




20PST07


779362


7588976


E46/1190


1


 




20PST08


779341


7588938


E46/1190


 


 




20PST09


779760


7588520


E46/1190


5


1 nugget 4 med flat




20PST10


779801


7588687


E46/1190


 


 




20PST11


788577


7585913


E46/1262


1


coarse chunk




20PST12


782836


7581548


E46/1262


 


 




20PST14


780438


7586330


E46/1262


1


Fine




20PST15


780018


7590179


E46/1190


 


 




20PST16


780125


7590198


E46/1190


 


 




20PST17


779810


7589659


E46/1190


 


 




20PST18


779929


7589626


E46/1190


2


1fine




20PST19


779388


7588358


E46/1190


2


vv coarse




20PST20


779459


7588344


E46/1190


1


v fine




20PST21


779598


7588041


E46/1190


2????


v fine




20PST22


788543


7585720


E46/1262


 


 




20PST23


780936


7586392


E46/1190


3


2fine and 1vfine




20PST24


781010


7586306


E46/1190


11


v coarse to fine




20PST25


780941


7585818


E46/1190


2


v fine




20PST26


780761


7585374


E46/1262


 


 




20PST27


780752


7585410


E46/1262


 


 




20PST28


780449


7586540


E46/1262


 


 




20PST29


780400


7586367


E46/1262


 


 




20PST30


780734


7586012


E46/1262


 


 




20PST31


780734


7586012


E46/1262


 


 




20PST32


780380


7585924


E46/1262


 


 




20PST33


780829


7586516


E46/1262


1


v fine




20PST34


780995


7586393


E46/1190


1


 




 
 
Nickel Anomalism
An extensive area of gossan was located within the north south trending band of ultramafic rocks along the western side of the tenement. The gossan extends over 800 metres of strike length and is up to 75 metres wide. A previous WA Geological Survey rock chip sample assayed 1080 ppm Ni.
Rock chip samples were collected from 49 sites covering as much of the gossan as outcrop and topography would allow.  These samples have been despatched for laboratory assay.
Observations of the sampled gossan included; colloform textures, spongy leached jarasitic/limonitic rock, massive ironstone, silcrete capping and manganese staining. No preserved primary textures or structures were observed within the gossan.
Table 3: 2020 Gossan rock chip sample summary




Sample No


Easting


Northing


Tenement


 


Sample No


Easting


Northing


Tenement






20PRC01


782593


7581712


E46/1262


 


20PRC26


782481


7581091


E46/1262




20PRC02


782604


7581706


E46/1262


 


20PRC27


782498


7581084


E46/1262




20PRC03


782614


7581706


E46/1262


 


20PRC28


782456


7581073


E46/1262




20PRC04


782609


7581688


E46/1262


 


20PRC29


782435


7581081


E46/1262




20PRC05


782625


7581681


E46/1262


 


20PRC30


782436


7581090


E46/1262




20PRC06


782622


7581674


E46/1262


 


20PRC31


782432


7581101


E46/1262




20PRC07


782630


7581660


E46/1262


 


20PRC32


782425


7581104


E46/1262




20PRC08


782648


7581652


E46/1262


 


20PRC33


782436


7581109


E46/1262




20PRC09


782647


7581646


E46/1262


 


20PRC34


782417


7581111


E46/1262




20PRC10


782641


7581640


E46/1262


 


20PRC35


782423


7581005


E46/1262




20PRC11


782635


7581634


E46/1262


 


20PRC36


782429


7581017


E46/1262




20PRC12


782638


7581630


E46/1262


 


20PRC37


782428


7581027


E46/1262




20PRC13


782636


7581606


E46/1262


 


20PRC38


782430


7581037


E46/1262




20PRC14


782636


7581598


E46/1262


 


20PRC39


782435


7581037


E46/1262




20PRC15


782620


7581587


E46/1262


 


20PRC40


782423


7581051


E46/1262




20PRC16


782620


7581565


E46/1262


 


20PRC41


782426


7581065


E46/1262




20PRC17


782626


7581383


E46/1262


 


20PRC42


782433


7581071


E46/1262




20PRC18


782631


7581381


E46/1262


 


20PRC43


782400


7580972


E46/1262




20PRC19


782649


7581359


E46/1262


 


20PRC44


782400


7580967


E46/1262




20PRC20


782649


7581352


E46/1262


 


20PRC45


782396


7580959


E46/1262




20PRC21


782646


7581344


E46/1262


 


20PRC46


782390


7580950


E46/1262




20PRC22


782648


7581340


E46/1262


 


20PRC47


782390


7580945


E46/1262




20PRC23


782644


7581331


E46/1262


 


20PRC48


782381


7580938


E46/1262




20PRC24


782490


7581095


E46/1262


 


20PRC49


782375


7580932


E46/1262




20PRC25


782496


7581095


E46/1262


 


 


 


 


 




 


 


 


 


 


 


 


 


 




 
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
 
Enquiries:








Mick Billing


+61 (8) 7324 1935


Thor Mining PLC


Executive Chairman




Ray Ridge


+61 (8) 7324 1935


Thor Mining PLC


CFO/Company Secretary




Samantha Harrison/Niall McDonald


+44 (0) 207 383 5100


Grant Thornton UK LLP 


Nominated Adviser




Nick Emerson
 


+44 (0) 1483 413 500


SI Capital Ltd


Broker




 


 


 


 




Competent Persons Report
The information in this report that relates to exploration results is based on information compiled by Richard Bradey, who holds a BSc in applied geology and an MSc in natural resource management and who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Bradey is an employee of Thor Mining PLC. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.  Richard Bradey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Updates on the Company's activities are regularly posted on Thor's website 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) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred Resource estimates for the White Violet and Samarkand tungsten deposits and the Bonya copper deposit².
Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known deposits.  The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.
Thor holds a 25% interest Australian copper development company EnviroCopper Limited (with rights to increase its interest to 30%).  EnviroCopper Limited holds:
·    rights to earn up to a 75% interest in the mineral rights and claims over the resource⁴ on the portion of the historic Kapunda copper mine in South Australia considered recoverable by way of in situ recovery; and
·    rights to earn up to 75% of the Moonta copper project, also in South Australia comprising the northern portion of exploration licence EL5984 and includes a resource estimate⁵ for several deposits considered recoverable by way of in situ recovery.
 
Notes
¹ Refer ASX and AIM announcement of 23 August 2018
² Refer ASX and AIM announcements of 26 November 2018 and 29 January 2020
³ Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018
⁴ Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018
⁵ Refer ASX and AIM announcement of 15 August 2019
 
 
JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data




Criteria


JORC Code Explanation


Commentary






Sampling techniques


·   Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
·   Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
·   Aspects of the determination of mineralisation that are Material to the Public Report.
·   In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.


The programme comprised stream sediment trap site sampling with coarse (3kg -5mm+2mm) and fine (4kg -2mm) fraction samples collected for geochemical analysis for Au 2kg BLEG (fine fraction), aqua regia (fine and coarse fractions) and multi-element analysis. In addition a 10-12 kg sample of -2mm material was collected from each trap site and panned in the field.
Each gossan sample comprised 8 - 10kg of rock taken from a 5m x 5m area of outcrop.




Drilling techniques


·   Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).


Not applicable




Drill sample recovery


·   Method of recording and assessing core and chip sample recoveries and results assessed.
·   Measures taken to maximise sample recovery and ensure representative nature of the samples.
·   Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.


Not applicable




Logging


·   Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
·   Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
·   The total length and percentage of the relevant intersections logged.


No logging was undertaken




Sub-sampling techniques and sample preparation


·   If core, whether cut or sawn and whether quarter, half or all core taken.
·   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.


Samples were screened in the field as described in "Sampling Techniques" above.
The sample sizes are as per industry standard for stream sediment geochemistry.
One field duplicate and one blank sample were submitted for assay with the other samples.




Quality of assay data and laboratory tests


·   The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
·   For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
·   Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.


The proposed assay method is appropriate for preliminary exploration.




Verification of sampling and assaying


·   The verification of significant intersections by either independent or alternative company personnel.
·   The use of twinned holes.
·   Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
·   Discuss any adjustment to assay data.


Not undertaken




Location of data points


·   Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
·   Specification of the grid system used.
·   Quality and adequacy of topographic control.


Hand held GPS - MGA94 zone 50




Data spacing and distribution


·   Data spacing for reporting of Exploration Results.
·   Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
·   Whether sample compositing has been applied.


Not applicable - no resource is being reported




Orientation of data in relation to geological structure


·   Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
·   If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.


Orientational bias is not applicable to stream sediment sampling which are essentially one dimensional.




Sample security


·   The measures taken to ensure sample security.


Samples were flown back to Nulagine and trucked to the assay laboratory in Perth. Sample security levels are considered appropriate for a preliminary reconnaissance assessment.




Audits or reviews


·   The results of any audits or reviews of sampling techniques and data.


None undertaken



 
 
 
 



 
1.       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 agreements or material issues with third parties such as joint ventures, 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 results are reported on E46/1190 and E46/1262 in Western Australia held 100% by Thor Mining PLC.




Exploration done by other parties


·   Acknowledgment and appraisal of exploration by other parties.


Not applicable




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 exploration results including a tabulation of the following information for all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
·   If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.


No drilling has been undertaken or reported




Data aggregation methods


·   In reporting Exploration Results, weighting averaging techniques, 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.


Only field observations have been reported. There has been no data aggregation.




Relationship between mineralisation widths and intercept lengths


·   These relationships are particularly important in the reporting of Exploration Results.
·   If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
·   If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').


No drilling has been undertaken or reported




Diagrams


·   Appropriate maps and sections (with scales) and tabulations of 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.


A sample location plan including current 1:100k scale geology has been provided




Balanced reporting


·   Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.


All results have been reported




Other substantive exploration data


·   Other exploration data, if meaningful and material, should be 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.


All data have been reported




Further work


·   The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
·   Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.


Subject to assay results, it is anticipated that follow up stream sediment geochemistry and geological mapping will be undertaken to locate the source of any mineralisation.



 
 
 
 
 
 



 
 


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