REG - Thor Mining PLC - Pilbara Goldfields - Nickel Assay Results

Thor EnergyAnnouncement

25/08/2020 08:30

RNS Number : 0780X
  
Thor Mining PLC
  
25 August 2020
  
 

25 August 2020
THOR MINING PLC
PILBARA GOLDFIELDS - ENCOURAGING NICKEL ASSAY RESULTS
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) are pleased to advise assay results from gossan rock chip sampling at the 100% owned Pilbara Goldfield tenements (E46/1262 and E46/1190) in Western Australia. The results indicate the gossan is strongly anomalous for nickel over the entire 900 metres strike length.
Assays for gold in stream sediment samples, also collected in this program, are expected shortly.
HIGHLIGHTS:
·   A total of 49 rock chip samples were all anomalous for nickel with peak value of 2,678 parts per million (ppm).
·   Averaging of all samples collected of 1,397 ppm.
·   Chromium averaged 1,230 ppm across the 49 samples.
·   Sampled gossan extends approximately 900m NNE-SSW  and is up to 100 metres wide.
 
Mick Billing, Executive Chairman of Thor Mining, commented: 
"These nickel and chromium assays are very encouraging, and well worth follow up programs".
"We appear to have a nickel bearing system of relatively impressive size, as indicated by the width and strike length, as currently known, and also by the relative consistency of the gossan samples along the gossan, and we look forward to testing this further."  
"Global nickel pricing has recovered strongly recently, with Argus Metals quoting US$14,788/tonne at the time of writing".  
"The next phase of work will be to review existing geophysical data, and potentially additional geophysics, to provide definition of potential drill targets".
"We also look forward eagerly to confirmatory gold assays from the stream sediment samples collected which contained visible gold in 17 of the 32 samples collected."
Sample Program
A total of 32 stream sites and 49 gossan sites were sampled, with gold assays still in progress.
Gold Anomalism
A program of 32 stream sediment trap sites were sampled as part of this program in June 2020. This part of the program and the initial gold panning observations were reported previously  (www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200731-asx-pilbara-au-ni-follow-up-sample-program.pdf).  Gold assay results for this component of the program are awaited and currently due.
 
Nickel Anomalism
The gossan was mapped over unassigned ultramafics by the Geological Survey of Western Australia. It extends for approximately 900 metres NNE - SSW, and is between 70 to 100 metres wide although the full width of anomalous nickel gossan is obscured by steep slopes and scree.
Rock chip composite samples were taken from outcrop and subcrop across an area of 5m x 5m for each of the 49 sites. The sites were distributed predominantly along the strike of the gossan and across strike wherever outcrop permitted. Samples were flown to Nullagine and trucked to Perth. Analysis comprised four acid digest and assay by ICPMS at the Intertek laboratory in Perth.
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 A: 2020 Gossan rock chip sample summary




SAMPLE ID


Easting


Northing


Ni (ppm)


Co (ppm)


Cr (ppm)


Cu (ppm)


Fe (%)


Mn (ppm)





20PRC01


782593


7581712


1,224.4


77


1,219


105.9


36.81


13,451




20PRC02


782604


7581706


1,577


89.7


923


186.9


41.19


31,817




20PRC03


782614


7581706


1,347.6


93.9


1,059


215.4


35.95


38,837




20PRC04


782609


7581688


1,650.1


198.9


2,204


17.1


15.57


>50,000




20PRC05


782625


7581681


1,697.4


152


2,607


12.1


22.62


10,403




20PRC06


782622


7581674


2,443.1


286.7


1,809


13.9


36.18


>50,000




20PRC07


782630


7581660


1,734


249.9


2,060


10.2


28.19


33,766




20PRC08


782648


7581652


1,302.6


227.6


1,854


8


19.5


>50,000




20PRC09


782647


7581646


1,530.7


265.1


1,291


12


28.02


24,699




20PRC10


782641


7581640


1,632.9


200.3


1,508


11.3


24.59


11,806




20PRC11


782635


7581634


1,702.5


304.3


2,176


20.1


25.05


22,402




20PRC12


782638


7581630


1,647.2


240.5


1,846


19.6


26.18


14,662




20PRC13


782636


7581606


1,743.2


260.4


1,294


17.1


32.18


11,203




20PRC14


782636


7581598


1,509.5


383.7


11,51


11.2


25.83


38,092




20PRC15


782620


7581587


1,260.4


292.3


1,686


12.6


20.58


38,648




20PRC16


782620


7581565


1,400.8


245


1,174


11.8


25.44


23,181




20PRC17


782626


7581383


1,578.7


400.2


1,087


12


26.51


>50,000




20PRC18


782631


7581381


1,332.2


288.1


1,778


10.8


20.87


49,870




20PRC19


782649


7581359


1,349.8


317.7


712


11.5


29.65


>50,000




20PRC20


782649


7581352


1,270.4


290.8


655


10.4


30.77


41,062




20PRC21


782646


7581344


1,442.5


306


1,064


11.5


35.56


31,928




20PRC22


782648


7581340


1,372


262.6


974


15.9


27.85


>50,000




20PRC23


782644


7581331


1,726.1


334.5


983


20.7


28.94


>50,000




20PRC24


782490


7581095


1,189.5


164.1


819


358.6


44.79


9,638




20PRC25


782496


7581095


1,453.6


211.8


766


397.7


48.95


4,893




20PRC26


782481


7581091


1,172.8


110.1


666


383.9


>50.00


2,488




20PRC27


782498


7581084


1,430.5


302.4


627


309.3


>50.00


5,241




20PRC28


782456


7581073


1,597.3


81.8


1641


123.9


>50.00


1,950




20PRC29


782435


7581081


1,148.3


78.7


1,227


169.4


>50.00


888




20PRC30


782436


7581090


1,006.4


64.5


781


195.4


48.83


658




20PRC31


782432


7581101


1,075.9


73.7


441


164.4


49.53


1,014




20PRC32


782425


7581104


1,020


72.3


479


176.2


49.29


803




20PRC33


782436


7581109


1,005.8


79.4


524


158.5


46.84


899




20PRC34


782417


7581111


879.1


66.7


229


142.2


48.99


730




20PRC35


782423


7581005


1,210.3


87.7


783


162.2


43.34


615




20PRC36


782429


7581017


1,346.8


87.3


1,192


149.9


46.56


899




20PRC37


782428


7581027


1,431.5


77.6


1,040


110.1


49.97


1,123




20PRC38


782430


7581037


1,085.4


59.3


602


71.4


46.27


1,006




20PRC39


782435


7581037


1,627


134.1


2,060


66.2


44.84


2,987




20PRC40


782423


7581051


1,149.9


90.7


934


96.7


46.23


827




20PRC41


782426


7581065


934.6


70.3


885


135.5


48.49


893




20PRC42


782433


7581071


1,109.2


67.1


893


160.3


>50.00


793




20PRC43


782400


7580972


806.5


47.8


1,100


88.9


49.11


652




20PRC44


782400


7580967


2,678.9


169.6


1,854


68


37.92


4,656




20PRC45


782396


7580959


1,469.4


67


1,477


134.3


>50.00


633




20PRC46


782390


7580950


1,587.5


110.3


1,967


140.1


>50.00


714




20PRC47


782390


7580945


1,176.5


77.5


1,496


141.9


>50.00


557




20PRC48


782381


7580938


1,194.7


93.9


1,043


330.1


>50.00


571




20PRC49


782375


7580932


1,206


102.2


1,671


450.4


>50.00


900



 
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.


Each gossan sample comprised 8 - 10kg of rock taken from a 5m x 5m area of outcrop. Samples were flown to Nullagine and trucked to Perth. Analysis comprised four acid digest and assay by ICPMS at the Intertek laboratory in Perth.




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.


8 - 10kg of rock taken from a 5m x 5m area of outcrop. No further subsampling was undertaken.
The samples are for exploratory purposes and not considered representative but rather indicative of potential mineralisation.




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.


4 Acid digest with ICPMS determination was the assay method used. This is considered appropriate for preliminary exploration.
 
Standard QAQC protocol was used by the assay laboratory.




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.


Due to outcrop and topographic constraints, sample sites are distributed more along strike than across. This is not the preferred orientation, however, it is adequate to determine if the target warrants follow up evaluation.




Sample security


·    The measures taken to ensure sample security.


Samples were flown back to
Nullagine and trucked to the Intertek 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



 
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


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.


It is anticipated that follow up mapping and geophysical survey will be undertaken to locate drill targets.











 
 

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