REG - Thor Mining PLC - Pilbara Goldfields Gold Assay Results

Thor EnergyAnnouncement

02/09/2020 07:01

RNS Number : 7891X
  
Thor Mining PLC
  
02 September 2020
  
 

2 September 2020
THOR MINING PLC
PILBARA GOLDFIELDS RAGGED RANGE PROJECT
OUTSTANDING GOLD ASSAY RESULTS FROM FOLLOW-UP SAMPLING
 
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) are pleased to advise assays from the latest stream sediment sampling program substantially exceeded management expectations at the 100% owned Pilbara Goldfield tenements, to be called Ragged Range (E46/1262 and E46/1190), in Western Australia.
The stream sediment Bulk Leach Extractable Gold (BLEG) samples were part of the second phase geochemistry program, now complete, following up on results from October 2019. 
Highlights:
·   Assay results from 2020 detail sampling support and extend from two 2019 test sites defining a 3 x 1-kilometre zone of highly anomalous gold.
·   Sampling results have now defined an overall broader target zone of 13 x 1 km of highly anomalous gold, demonstrating the potential to host a significant gold bearing system.
·   Samples defining the 13km gold target zone are from separate drainage catchments supporting the potential of gold mineralisation along the entire strike length.
·   Next steps to commence immediately include; further mapping, stream sediment  and soil sampling, and a detailed aeromagnetic survey.
 
Mick Billing, Executive Chairman of Thor Mining, commented: 
"The Ragged Range gold project shows strong prospectivity over a strike length of up to 13 kilometres based on sample results substantially above background (typically around 5ppb)."
"These results upstream of very positive 2019 sample results indicate we are heading towards gold bearing source rocks".
"Stream sediment samples capture gold eroded over time & washed through creek systems, and become encouraging when values approach 5ppb.  A cluster of results, in close proximity, significantly higher than this level, including up to 26 times higher, is considered by the directors to be an outstanding outcome".
"This project is now a high priority for Thor, and next steps will involve further upstream mapping & sampling along with detailed Aeromagnetic survey work, looking for structurally hosted gold deposits."
Gold Stream Sediment Sample Program
Eight anomalous gold stream sediment sample sites from the 2019 sampling program were identified for follow up sampling in June 2020 field program.
Link to Tenement & Sample location map:
www.thormining.com/sites/thormining/media/maps/2020-rr-au-w-licence.jpg 
The 2020 program comprised stream sediment samples from 34 sites. At each site a 3kg -5mm+2mm fraction (coarse) and a 4kg -2mm fraction (fine) sample were collected for geochemical analysis at Intertek Genalysis Laboratories in Perth WA. In addition, a 10-12 kg sample of -2mm material was collected from the trap site and panned in the field. 
Laboratory analyses comprised 2kg sub-sample, 24-hour Bulk Leach Extractable Gold (BLEG) on the fine fraction for gold only. The remaining fine and coarse fractions were pulverised to <80 micron for aqua regia gold (25gram) and multi-element analyses.
The 2020 panning results show gold at multiple locations upstream of two of the 2019 test sites 19PST22 and 19PST32 & 33. These panning results were previously reported in www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200731-asx-pilbara-au-ni-follow-up-sample-program.pdf
 
Multiple strongly anomalous gold BLEG results have now been received supporting the earlier panning results (Table A). The distribution of the most recent results correlates well with specific drainage channels leading upstream from anomalous 2019 test sites. The BLEG results also define a gold anomalous zone that trends NNW-SSE close to a boundary of mafic and ultramafic geological units.
The two target sites (#22 and #32/33) identified by sampling in 2019 and which are now strongly supported by follow up sampling in 2020 (Figure 2, coloured yellow) are located along the same geological horizon defining a 3 x 1 kilometre zone of highly anomalous gold.
On the broader scale, the 2019 assay results (figure 2, coloured red) show the highly anomalous gold zone extends both to the north west and to the south east over a total distance of 13 kilometres.
Each of the 2019 test sites are situated in separate unconnected drainage catchments and therefore the source of the gold in these samples must come from mineralisation adjacent the respective test sites along the entire length of the zone.
None of the sample to the west of the mafic / ultramafic contact had anomalous gold providing a clear geological constraint to potential mineralisation.
Table A: 2020 Stream sediment samples grouped by target site 




Sample No


Target Site


Easting


Northing


Tenement


Gold Grains


Pan Comment


Gold (BLEG)
ppb




20PST03


 
 
 
19PST22


779624


7588632


E46/1190


2


1 flat 1 chunky


13.3




20PST04


779729


7588684


E46/1190


13


fine to vv fine


13.12




20PST05


779761


7588724


E46/1190


1


 


1.07




20PST09


779760


7588520


E46/1190


5


1 nugget 4 med flat


5.32




20PST10


779801


7588687


E46/1190


 


 


1.2




20PST19


779388


7588358


E46/1190


2


vv coarse


25.88




20PST20


779459


7588344


E46/1190


1


v fine


122




20PST21


779598


7588041


E46/1190


2


V fine


2.17




20PST23


 
 
 
19PST32


780936


7586392


E46/1190


3


2fine and 1vfine


17.9




20PST24


781010


7586306


E46/1190


11


v coarse to fine


130.43




20PST25


780941


7585818


E46/1190


2


v fine


1.75




20PST26


780761


7585374


E46/1262


 


 


11.55




20PST27


780752


7585410


E46/1262


 


 


52.33




20PST30


780734


7586012


E46/1262


 


 


1.14




20PST31
20PST33


780829
780734


7586516
7586012


E46/1262
E45/1262


1


v fine


1.02
0.66




20PST34


780995


7586393


E46/1190


1


 


54.24




20PST14


 


780438


7586330


E46/1262


1


fine


38.94




20PST28


19PST33


780449


7586540


E46/1262


 


 


0.65




20PST29


 


780400


7586367


E46/1262


 


 


1.22




20PST32


 


780380


7585924


E46/1262


 


 


43.2




 
Link to Ragged Range Sample Location Plan:
www.thormining.com/sites/thormining/media/maps/20-004-2-rr-streamsediments.jpg 
Assay results are summarised for all test sites in Table B below. To date, the BLEG results give the most consistent set of gold results. The coarse fraction results have little gold reported and the crushed aqua regia results from the fine fraction are highly variable. The visible panned gold results usually match gold anomalism reported in the BLEG results but there is no clear correlation between gold in the pan and the tenor of the BLEG result.
 




Table B: Ragged Range stream sediment gold panning and assay summary




Sample No


Easting


Northing


Visible panned gold


Gold (BLEG)
ppb


Fine Fraction
<2mm
Aqua Regia ppb


Coarse fraction
2 - 5mm
Aqua Regia ppb






20PST01


784289


7581111


-


0.85


2


1




20PST02


784319


7581111


1


2.91


3


3




20PST03


779624


7588632


2


13.3


1


4




20PST04


779729


7588684


13


13.12


73


4




20PST05


779761


7588724


1


1.07


2


1




20PST06


780111


7590646


-


2.52


4


2




20PST07


779362


7588976


1


0.22


-


3




20PST08


779341


7588938


-


0.56


1


-




20PST09


779760


7588520


5


5.32


6


3




20PST10


779801


7588687


-


1.2


4


-




20PST11


788577


7585913


1


2.75


2


1




20PST12


782836


7581548


-


1.13


-


-




20PST14


780438


7586330


1


38.94


-


-




20PST15


780018


7590179


-


1.1


1


-




20PST16


780125


7590198


-


0.67


-


-




20PST17


779810


7589659


-


1.63


2


1




20PST18


779929


7589626


2


0.57


3


-




20PST19


779388


7588358


2


25.88


6


1




20PST20


779459


7588344


1


122


3


-




20PST21


779598


7588041


2


2.17


5


1




20PST22


788543


7585720


-


0.31


-


-




20PST23


780936


7586392


3


17.9


2


1




20PST24


781010


7586306


11


130.43


-


1




20PST25


780941


7585818


2


1.75


2


-




20PST26


780761


7585374


-


11.55


3


1




20PST27


780752


7585410


-


52.33


-


-




20PST28


780449


7586540


-


0.65


-


-




20PST29


780400


7586367


-


1.22


2


3




20PST30


780734


7586012


-


1.14


-


-




20PST31


780734


7586012


-


1.02


-


-




20PST32


780380


7585924


-


43.2


3


-




20PST33


780829


7586516


1


0.66


-


-




20PST34


780995


7586393


1


54.24


2


2




19PST01


788517


7585914


20


0.73


2


3




19PST02


788542


7585747


5


0.77


3


-




19PST03


787507


7584556


1


0.35


-


-




19PST04


787501


7584365


-


0.31


4


-




19PST05


785739


7580319


-


1.87


4


1




19PST06


785962


7580255


-


2.51


5


2




19PST07


784251


7578348


-


0.48


2


-




19PST08


784238


7578402


-


0.5


-


-




19PST09


780980


7591940


-


0.65


1


1




19PST11


790941


7586131


-


1.32


-


-




19PST12


790887


7586107


-


0.24


2


-




19PST13


788661


7584372


-


0.78


-


-




19PST14


788668


7584326


-


0.29


-


-




19PST15


784554


7581458


1


6.7


-


-




19PST16


784518


7581504


-


1.38


7


3




19PST17


783611


7580160


-


1.3


2


-




19PST18


783583


7580269


-


0.54


2


-




19PST19


779729


7590847


-


1.27


-


-




19PST20


779691


7590795


-


0.68


256


-




19PST21


779637


7589090


2


1.98


2


3




19PST22


779673


7589010


2


1.99


2


9




19PST23


779543


7583792


-


0.33


6


-




19PST24


779545


7583840


-


0.5


-


-




19PST25


781942


7586463


-


0.64


1


-




19PST26


781830


7586363


-


0.8


2


-




19PST27


781797


7589110


2


0.37


-


-




19PST28


781421


7588166


1


0.64


-


-




19PST29


781369


7588090


-


1.02


7


1




19PST30


781323


7583894


-


2.04


3


-




19PST31


781247


7583860


-


2.19


3


-




19PST32


780820


7586665


2


21.98


-


1




19PST33


780775


7586684


1


1.39


864


-




19PST34


780079


7586846


-


0.3


4


-




19PST35


784674


7582582


-


0.22


2


-




19PST36


784678


7582468


1


0.47


-


-




19PST37


783105


7586695


-


0.85


-


-




19PST38


789014


7585264


-


1.53


2


2




19PST39


788997


7585253


-


3.92


1


-




19PST40


787488


7585639


-


0.2


-


-




19PST41


782773


7583406


-


2.72


-


1




19PST42


782779


7583466


-


1.32


54


-




19PST43


783418


7586477


-


20.19


1


-




19PST44


789142


7585884


1


2.74


1


2




19PST45


789173


7585849


1


2.52


14


1




19PST46


787488


7585639


-


0.18


3


-




 
 
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
 
 
 
 
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 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.
 




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
Nullagine 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




 
1.1        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 aggregatio n 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


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




 




 


 


 




values should be clearly stated.




Relationshi p between mineralisati on 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.


It is anticipated that further stream sediment geochemistry and geological mapping will be undertaken in addition to airborne geophysical survey to locate the source of any mineralisation.




 
 

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