REG - Thor Mining PLC - Project Advancement Alford East Project
22/02/2022 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220222:nRSV3505Ca&default-theme=true
RNS Number : 3505C Thor Mining PLC 22 February 2022
22 February 2022
Thor Mining PLC
Project Advancement
Alford East Copper-Gold ISR Project, South Australia
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are
pleased to provide an update on the Alford East Copper-Gold Project, SA,
Australia.
Project highlights:
· Significant intercepts including:
21AED001 32.9m @ 0.4% Cu and 0.31g/t Au from 81.5m (AIM:THR Announcement 31.8.2021),
21AED002 59.9m @ 0.3% Cu from 21.9m (AIM:THR Announcement 31.8.2021),
21AED003 32.4m @ 0.2% Cu and NSR Au from 15m,
21AED004 55.9m @ 0.53% Cu from 7m, including
11.7m @ 1.0%Cu from 17.3m including
5.7m @ 1.23% and 0.16g/t Au from 17.3
21AED005 72.7m @ 1.0% Cu and 0.19g/t Au from 6.3m,
including
18.2m @ 2.0% Cu and 0.34g/t Au from 15.8m (AIM:THR Announcement 31.8.2021),
· A robust 3D geological model generated from recent drilling data highlights key structural and lithological controls on mineralisation and potential high-grade target zones.
· Initial hydrometallurgy trialling of an environmentally friendly glycine lixiviant shows positive gold and copper recovery.
· Phase two diamond drilling program is being designed, including continuing hydrogeology and hydrometallurgical studies.
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"The success of our first phase of drilling, with significant uplift in copper
and gold grade, adjacent to the Netherleigh Fault, is very exciting and
suggests the potential for extended zones of higher-grade copper and gold
along strike and at depth.
Demonstrating Thor's greater understanding of the geological and structural
constraints through the new geological modelling is critical to the overall
project's development, especially as we plan our second phase of drilling and
progress our hydrometallurgical studies.
These favourable initial hydrometallurgical results for the metal recovery for
both copper and gold using a socially and environmentally friendly solution
'glycine' rather than conventional acid in-situ recovery (ISR) is significant,
as Thor strives towards the in-situ assessment of the Alford East Project."
Figure 1: Tenement & Prospect Location Plan and Mineral Resource Domains
may be viewed on the following links:
http://www.thormining.com/sites/thormining/media/maps/21-001-4-ae-mre-%E2%80%93-location.jpg
(http://www.thormining.com/sites/thormining/media/maps/21-001-4-ae-mre-%E2%80%93-location.jpg)
https://www.thormining.com/sites/thormining/media/Maps/mre_ae_5-drilling.jpg
(https://www.thormining.com/sites/thormining/media/Maps/mre_ae_5-drilling.jpg)
Alford East Project
The Alford East Copper-Gold Project is located on EL6529, where Thor is earning up to 80% interest from unlisted Australian explorer Spencer Metals Pty Ltd, covering portions of EL6255 and EL6529 (Figure 1) (ASX: THR Announcement 23 November 2020).
The Alford East Project covers the northern extension of the Alford Copper Belt, located on the Yorke Peninsula, SA. The Alford Copper Belt is a semi coherent zone of copper-gold oxide mineralisation, within a structurally controlled, north-south corridor consisting of deeply kaolinised and oxidised troughs within metamorphic units on the edge of the Tickera Granite (Figure 1), Gawler Craton, SA.
Utilising historic drill hole information, Thor completed an inferred Mineral
Resource Estimate (MRE) (AIM: THR Announcement 26 January 2021):
§ 125.6Mt @ 0.14% Cu containing 177,000t of contained copper
§ 71,500oz of contained gold
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)
Based on the nature on the oxide mineralisation, the deposit is considered
amenable to In-Situ Recovery (ISR) techniques. For further information on
ISR please refer to Thor's website via this link for an informative video:
www.youtube.com/watch?v=eG_1ZGD0WIw
(http://www.youtube.com/watch?v=eG_1ZGD0WIw)
Alford East Diamond Drilling Program Update
The first phase of drilling comprised nine diamond drillholes totalling 878m, with assays now received for all drillholes. This initial program for Thor focused only on the northern portion of the Alford East copper-gold deposit around the AE-5 mineralised domains (Figure 1 and 2), with drilling targeting areas open at depth and along strike.
Drillhole assay results are reported in Table B and C (Appendices).
Figure 2: Alford East Project AE-5 domain showing drillhole location plan may be viewed via the following link:
https://www.thormining.com/sites/thormining/media/Maps/ae-5-location-plan.jpg
(https://www.thormining.com/sites/thormining/media/Maps/ae-5-location-plan.jpg)
For ISR purposes, drilling was limited to the deeply weathered lithological
profile, testing the extent of the oxide zone and the depth boundary of the
Top of Fresh Rock (TOFR). The copper-gold oxide mineralisation is hosted
within deeply kaolinised (clay) and metasomatic altered units on the contact
between the Olympic Domain Wallaroo Group metasediments and the Hiltaba Suite
Tickera Granite, Gawler Craton (Figure 1). Copper oxide mineralogy is
dominated by malachite and chalcocite.
Drill targeting, vectoring in on the hanging wall side of the north-south
trending controlling structure, now referred to as Netherleigh Park Fault,
intercepted zones of high-grade copper and gold grades resulted in significant
grade uplift in comparison to the MRE.
Drillholes 21AED001, 21AED003 and 21AED005 (Section A-A' 6,256,360mN) were
drilled through the central portion of AE-5 (Figure 3), designed to validate
the geological model and test areas, open at depth. The high-grade copper
and gold intercepts in 21AED001 opens the mineralisation up at depth, whilst
21AED005 highlights the grade uplift along the Netherleigh Park Fault.
21AED004 (Section B-B' 6,235,440mN) was drilled along strike to the north
21AED005, a continuation of higher copper grades along fault (Figure 2 and 4).
21AED002, 21AED006 and 21AED007 (Section C-C' 6,235,600mN) were all drilled to the north of the AE-5 MRE domain, with assay results extending the known copper mineralisation along strike towards AE-8 (Figure 2, 3 and 6).
Multi-element analysis of the assay results highlights two distinct
higher-grade zones of copper-gold mineralisation within a broader mineralised
envelope. The lower of the two has a distinct IOCG geochemical signature -
elevated Cu, Au, Mo, Co, Se, Bi & REE (Figure 6 log plot). This
potentially reflects sulphide oxidation of primary mineralisation; whilst the
upper zone has a more amorphous distribution typical of a supergene
mineralised system.
Figure 3: Cross section 6,256,360mN looking NNE, showing 21AED001, 21AED003
and 21AED005 with copper assays shown as cylinder down hole trace may be
viewed via the following link:
http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/2022.02.17-section-a-6256360mn-incl-21aed001-21aed003-21aed005-final-assays.jpg
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/2022.02.17-section-a-6256360mn-incl-21aed001-21aed003-21aed005-final-assays.jpg)
Figure 4: Cross section 6,256,4400mN looking NNE, showing 21AED004, with
copper assays shown as cylinder downhole trace may be viewed via the following
link:
http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/2022.02.17-section-b-6256440mn-incl-21aed004-final-assays.jpg
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/2022.02.17-section-b-6256440mn-incl-21aed004-final-assays.jpg)
Figure 5: Cross section 6,256,600mN showing 21AED002 and 21AED007, with copper
assays shown as cylinder downhole trace may be viewed via the following link;
http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/2022.02.17-section-c-6256600mn-incl-21aed002-and-21aed007-final-assays.jpg
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/2022.02.17-section-c-6256600mn-incl-21aed002-and-21aed007-final-assays.jpg)
Figure 6: Multi-element log plot for 21AED001 showing two distinct higher
grade copper zones with the lower gold rich zone reflecting IOGC geochemical
signature may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/Maps/21aed001_log-plot.jpg
(http://www.thormining.com/sites/thormining/media/Maps/21aed001_log-plot.jpg)
New Alford East Geological Model
Based on the recent diamond drilling, a new robust 3D geological model was
generated (Figure 7) using a combination of weathering, lithology, assay and
structural data from logging, and regional geology, structural and geophysics
(magnetics and gravity) data.
Key geological outcomes:
§ The best oxide mineralisation seems to occur where a fault has facilitated
a more deeply weathered profile.
§ Some faults appear to have had minor vertical offset on them
post-development of the weathering profile (for example, the north-east
trending Netherleigh Park Fault, central to the project area).
§ Mineralisation shows a preference to metasediments.
§ A Sulphidic-Magnetic-Shale (SMS) stratigraphic-alteration unit, appears as
a marker unit in the regional and more local magnetics images, as well as in
the regional 3D magnetics and gravity inversions.
§ The SMS unit was modelled using the information above, showing an overall
synformal shape with AE3 sitting in the core or trough of overlying
metasediments formed by the synform.
§ Most supergene mineralisation appears to occur in the hanging wall of the
SMS, whilst the weathered primary mineralisation (such as in the deeper
sections of AE8 and AE5) appears to be associated with major faults, such as
the central Netherleigh Park Fault.
Figure 7: 3D Geological Model - showing the major faults in black, cover in
translucent brown, weathered rock in translucent green, fresh rock in
translucent yellow, suphidic-magnetic-shale (SMS), and the resource domains in
green may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/ae_basement-geology.jpg
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/ae_basement-geology.jpg)
Hydrometallurgy
Thor's objective is to identify an in-situ recovery pathway, ideally for both
the copper and gold mineralisation at the Alford East Project, that is
socially and environmentally friendly rather than using conventional acid
in-situ recovery (ISR).
This has led to Thor engaging Mining Processing Solutions (MPS) trialling
their alkaline Glycine Leaching Technology (GLT), branded as their GlyCat(TM)
and GlyLeach(TM) processes, that have the capability to selectively leach base
and precious metals using glycine as the principal, eco-friendly, reagent.
A preliminary 'Discovery' metallurgical test program has been carried out to
determine the amenability of the Alford East mineralisation to metal recovery
using GLT. The test work has involved two rounds of Diagnostic Leach Tests
(DLTs), and one round of Bottle Roll Tests (BRTs) (Figure 8) on the two
samples from 21AED001 (Table D). The two zones are highlighted in Figure 6.
Ground water collected from Alford East was used in the laboratory test work
to ensure water characteristic especially pH were tailored to Project
conditions.
Table D: Samples Selected for testing - Fire and 4 Acid Digest assay Results
(ALS Laboratories)
Hole ID Sample Assay ID Cu (ppm) Au (ppm)
21AED001 AE Upper Zone THOM-01-002 1,080 0.02
21AED001 AE Lower Zone THOM-01-001 4,920 1.10
21AED001 Combined THOM-01-003 2,950 0.51
Figure 8: Overview of Test work may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/initial-test-work.jpg
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/initial-test-work.jpg)
Initial Findings:
§ Based on copper sequential analysis (identifies leachable copper
mineralogy) - 15% of the copper from the upper zone and up to 50% from the
lower zone should be theoretically leachable with GLT.
§ Based on the gold diagnostic leach assays, extraction from the lower zone
of up to 73.4% should be theoretically leachable with GLT. Upper zone had
negligible gold.
§ Diagnostic Leach test- designed to be initial comparison tests to ascertain
the response to a range of conditions including a baseline cyanidation test.
§ Bottle Roll tests (6):
§ The composite sample performed very well with GLT, extracting 98.1% of the
gold and over 40% of the copper.
§ Lower zone using GLT extracting 78.3% of the gold and 33.5% of the copper,
whilst the Lower zone using cyanide extracted 64.1% Au and 48.2% of the
copper
§ The alkaline Glycine Leaching Technology (GLT) has slower leaching
dynamics, than cyanidation, so if given more time higher extractions would be
expected
Next Step
Based on the new geological model, approximately 10 diamond drill holes have
been designed to test potential high-grade zones (Figure 9):
§ Along strike and up-dip of deeply weathered zones,
§ Targeting controlling key structures including the Netherleigh Park Fault
at depth especially where there are large gaps in existing data,
§ Targeting intersection of SMS and Liaway offset Fault,
§ Targeting intersection of Netherleigh Park Fault and Liaway Fault
§ Targeting subordinate splays off Netherleigh Park Fault where there is
evidence of a deep weathering trough.
In addition, hydrogeological water bores and pump testing is in planning to
determine aquifer connectivity between holes, with initial focus in the
northern area of the mineralisation.
Concurrent to drilling, hydrometallurgical work will continue to investigate
and optimise both copper and gold metal extraction using environmentally
friendly lixiviants.
Figure 9: Phase two proposed drillholes, targeting potential higher-grade
zones open at depth and along strike may be viewed via the following link.
http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/phase-2-drilling-proposal.jpg
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20202021/phase-2-drilling-proposal.jpg)
This announcement is authorised for release to the market by the Board of
Directors.
For further information, please contact:
Thor Mining PLC
Nicole Galloway Warland, Managing Director Tel: +61 (8) 7324 1935
Ray Ridge, CFO / Company Secretary Tel: +61 (8) 7324 1935
WH Ireland Limited (Nominated Adviser and Joint Broker) Tel: +44 (0) 207 220 1666
Jessica Cave / Darshan Patel / Megan Liddell
SI Capital Limited (Joint Broker) Tel: +44 (0) 1483 413 500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004 9512
Elements: Cu=Copper, Au = Gold, Ag=Silver, Mo=Molybdenum, Co=Cobalt, Se=
Selenium, Bi=Bismuth, Ba=Barium and Te=Tellurium
MAR
This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.
Competent Persons Report
The information in this report that relates to Exploration Results and the
Estimation and Reporting of the Alford East 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.
Forward Looking Statements
This document may contain certain forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning Thor Mining
PLC current expectations, estimates and projections about the industry in
which Thor operates, and beliefs and assumptions regarding Thor's future
performance. When used in this document, words such as "anticipate", "could",
"plan", "estimate", "expects", "seeks", "intends", "may", "potential",
"should", and similar expressions are forward-looking statements. Although
Thor believes that its expectations reflected in these forward-looking
statements are reasonable, such statements are subject to known and unknown
risks, uncertainties and other factors, some of which are beyond the control
of Thor and no assurance can be given that actual results will be consistent
with these forward-looking statements
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 initial drilling was carried
out in 2021
At Alford East in South Australia, Thor is earning an 80% interest in copper
deposits considered amenable to extraction via In Situ Recovery techniques
(ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate
of 177,000 tonnes contained copper & 71,000 oz
gold¹.
Thor also holds a 30% interest in Australian copper development company
EnviroCopper Limited, which in turn holds rights to earn up to a 75% interest
in the mineral rights and claims over the resource on the portion of the
historic Kapunda copper mine and the Alford West copper project, both situated
in South Australia, and both considered amenable to recovery by way of
ISR.²³
Thor holds 100% interest in two private companies with mineral claims in the
US states of Colorado and Utah with historical high-grade uranium and vanadium
drilling and production results.
Thor holds 100% of the advanced Molyhil tungsten project, including measured,
indicated and inferred resources⁴, in the Northern Territory of Australia,
which was awarded Major Project Status by the Northern Territory government in
July 2020.
Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of
tungsten, copper, and vanadium, including Inferred resource estimates for the
Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.⁵
Notes
(1) www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf)
(2) www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf)
³
www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(http://www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf)
(4)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf)
(5
)www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf)
Table A: Alford East Mineral Resource Estimate as at 22 January 2021, with
AR-5 extending towards AE-8 domains (previously Netherleigh Park) the focus of
the current drilling program highlighted - Figure 2.
Domain Tonnes (Mt) Cu % Au g/t Contained Cu (t) Contained Au (oz)
AE_1 24.6 0.12 0.021 30,000 16,000
AE_2 6.8 0.13 0.004 9,000 1,000
AE_3 34.9 0.09 0.022 33,000 25,000
AE_4 8.0 0.11 0.016 8,000 4,000
AE_5 11.0 0.22 0.030 24,000 11,000
AE-8 (NP) 31.3 0.19 0.008 61,000 8,000
AE-7 (LW_E) 7.7 0.14 0.025 10,000 6,000
AE-6 (LW_W) 1.3 0.13 0.011 2,000 500
Total 125.6 0.14 0.018 177,000 71,500
Note: MRE reported on oxide material only, at a cut-off grade of 0.05% copper
which is consistent with the assumed In Situ Recovery technique.
Table B: Drill Collar Locations
Hole ID EOH Depth East North RL Dip Azimuth
21AED001 156.17 763,727.91 6,256,359.35 48.69 -90(0) 360(0)
21AED002 98.85 763,908.67 6,256,599.18 48.35 -70(0) 90(0)
21AED003 93.20 763,680.15 6,256,359.62 48.39 -90(0) 360(0)
21AED004 71.95 763,849.71 6,256,442.33 46.84 -90(0) 360(0)
21AED005 96.47 763,799.52 6,256,358.84 47.91 -70(0) 90(0)
21AED006 135.4 763,988.83 6,256,682.88 44.71 -90(0) 360(0)
21AED007 115.2 763,883.93 6,256,600.85 48.09 -90(0) 360(0)
21AED008 77.8 763,739.04 6,256,274.50 47.67 -70(0) 90(0)
21AED009 32.63 763,812.14 6,256,205.90 46.10 -90(0) 360(0)
Table C: Summary of Significant Drillhole Assays (above 0.05ppm Copper &
0.1g/t Gold)
Hole ID Drill Type Sample type Depth From (m) Interval (m) Cu % Au g/t Comments
21AED001 Diam -HQ Geological 6.2 108.2 0.17 0.1 Full oxide profile - with zones of internal dilution
including 6.2 25.3 0.11 NSI Upper Zone (above 0.05% Cu)
including 81.5 32.9 0.4 0.31 Lower Zone (above 0.05% Cu)
including 102 5 0.5 1.02 Lower zone (above 0.05%Cu)
21AED002 Diam -HQ Geological 21.9 59.9 0.31 NSI Full oxide profile (above 0.05% Cu)
21AED003 Diam -HQ Geological 15 32.4 0.16 NSR Full oxide profile
including 15 13.6 0.25 NSR
21AED004 Diam -HQ Geological 7 55.9 0.53 NSR Full oxide profile
Including 17.3 5.7 1.23 0.16
21AED005 Diam -HQ Geological 6.3 72.7 1.0 0.19 Full oxide Profile (above 0.05% Cu)
Including 15.8 18.2 2.0 0.34 Upper Zone (above 0.05% Cu)
21AED006 Diam -HQ Geological 31.1 30.8 0.09 NSR Upper Zone
and 105.8 13 0.1 NSR Lower Zone
21AED007 Diam -HQ Geological 33 33.6 0.14 NSR Full oxide Zone (above 0.05%Cu)
Including 33 4 0.1 0.13
21AED008 Diam -HQ Geological 7 7 0.13 NSR Upper zone (above 0.05%Cu)
and 27 15.5 0.08 Lower zone (above 0.05%Cu)
21AED009 Diam-HQ - NSR - -
Notes to Table B and C
1. An accurate dip and strike and the controls on mineralisation are only
interpreted and the true width of mineralisation is unknown at this time.
2. In Diamond (Diam drilling), individual samples were collected at
geological intervals with no individual sample smaller than 0.1m and none
larger than 1.5m.
3. All samples are analysed using a 50g fire assay with ICP-MS
(inductively coupled plasma - mass spectrometry) finish gold analysis (0.01ppm
detection limit) and Aqua Regia Multi-Element with ICP-MS finish (1ppm Cu
detection limit) by Bureau Veritas, Adelaide South Australia.
4. Intersections are generally calculated over >1m intervals >0.05%
Cu (500ppm) using weight averaging technique. Some internal dilution is
included in 21AED001 full oxide profile <10m below 0.05% Cu for geological
ISR modelling continuity.
5. g/t (grams per tonne), ppm (parts per million), NSI = no significant
intercept above 0.01ppm Au
6. Drill type; Diam = Diamond, HQ = Diamond Core diameter
7. Coordinates are in GDA94, MGA Z53 using DGPS position
1 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 Diamond drilling program with half core sampled for Au fire assay FA001 and
specific specialised industry standard measurement tools appropriate to the Aqua Regia 48 element suite AR001. Samples submitted to Bureau Veritas (BV),
minerals under investigation, such as down hole gamma sondes, or handheld XRF SA. Standard blank and duplicate inserted every 30 samples
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. pXRF readings taken very 0.5m down the hole.
· Include reference to measures taken to ensure sample representivity Vanta C Series 800427 XRF -40sec reading time.
and the appropriate calibration of any measurement tools or systems used.
Instrument calibrated externally annually and with QA/QC at start prior to
· Aspects of the determination of mineralisation that are Material to sampling and calibration disc every 30 readings
the Public Report.
All co-ordinates are in UTM grid (GDA94 Z53) and drill hole collars have been
· In cases where 'industry standard' work has been done this would be surveyed by DGPS to an accuracy of 0.1m. Down holes surveys using Truman with
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m readings every 6m.
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 Diamond samples were collected at geologically defined intervals (minimum
is coarse gold that has inherent sampling problems. Unusual commodities or sample length 0.1m, maximum sample length 1.5m) for all drill holes in the
mineralisation types (eg submarine nodules) may warrant disclosure of detailed current program Samples are cut using an automated diamond saw and half core
information. is submitted for analysis at Bureau Veritas, SA. The sample size is deemed
appropriate for the grain size of the material being sampled.
Mineralisation is determined by descriptive geological logs for diamond hole
as well as the incorporation of assay results and pXRF readings
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary Diamond drilling - GMP drilling Pty Ltd. B&D Multi 35 Rig
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, 0-6m open hammer - transported cover sequence.
whether core is oriented and if so, by what method, etc).
HQ standard tube diamond drilling
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and Core recovery assessed and measured relative to drill rod measurements into
results assessed. laptop computer.
· Measures taken to maximise sample recovery and ensure representative HQ single tube drilling through weathered zone to maximise sample recovery.
nature of the samples. The sample recovery and condition is recorded every meter. Generally, core
recovery is 98-100%, but occasionally drops to 70% in friable clays zones due
· Whether a relationship exists between sample recovery and grade and to compaction and/or broken ground. No relationship is known to exist between
whether sample bias may have occurred due to preferential loss/gain of sample recovery and grade
fine/coarse material.
Logging · Whether core and chip samples have been geologically and All core is qualitative geologically logged (lithology, structure, alteration,
geotechnically logged to a level of detail to support appropriate Mineral veining, mineralization weathering, colour and other features of the core).
Resource estimation, mining studies and metallurgical studies.
Core photography completed prior to core cutting and after
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography. Core (and intersections) logged based on geological, lithological and
structural boundaries.
· The total length and percentage of the relevant intersections logged.
All drill samples are measured for magnetic susceptibility at 1m intervals,
and XRF readings taken every 0.5m.
Criteria JORC Code explanation Commentary
Sub- sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core Half core samples submitted for laboratory analysis.
taken.
Diamond core was given up to two weeks to dry out, prior to cutting and sample
· If non-core, whether riffled, tube sampled, rotary split, etc and prep.
whether sampled wet or dry.
Sampling is carried out using standard protocols and QAQC procedures as per
For all sample types, the nature, quality and appropriateness of the sample industry practice.
preparation technique.
Field QAQC procedures involved the use of certified standards, blanks and
· Quality control procedures adopted for all sub-sampling stages to duplicate sample submitted every 25 samples. These are routinely checked
maximise representivity of samples. against originals.
· Measures taken to ensure that the sampling is representative of the Handheld pXRF readings reported.
in situ material collected, including for instance results for field
duplicate/second-half sampling. pXRF readings taken on whole (HQ) core at 0.5m intervals prior to cutting.
· Whether sample sizes are appropriate to the grain size of the Vanta Series C 40 second reading time.
material being sampled.
Instrument calibrated at start, QAQC with 2 standards and 1 blank every 30
readings. External instrument calibration completed annually.
Readings taken every 0.5m down hole
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and Diamond core sampled through potential copper and gold zones.
laboratory procedures used and whether the technique is considered partial or
total. Samples submitted to Bureau Veritas for 50g fire assay and Aqua Regia
multi-element analysis.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and Internal certified laboratory QAQC is undertaken including check samples,
model, reading times, calibrations factors applied and their derivation, etc. blanks and internal standards
· Nature of quality control procedures adopted (eg standards, blanks, Handheld pXRF readings reported.
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established. Vanta Series C 40 second reading time.
Instrument calibrated at start, QAQC with 2 standards and 1 blank every 30
readings. External instrument calibration completed annually.
Readings taken every 0.5m down hole
Verification of sampling and assaying · The verification of significant intersections by either independent All drilling data is collected in a series of templates in excel including
or alternative company personnel. geological logging, sample information, collar and survey information,
· The use of twinned holes. All data is digitally recorded in the company's electronic database.
· Documentation of primary data, data entry procedures, data No adjustments have been made to the assay data.
verification, data storage (physical and electronic) protocols.
All significant intersections have been verified by an alternative company
· Discuss any adjustment to assay data. geologist.
There are no twinned drillholes
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar Collars picked up using DGPS - MGA94 zone 53 (GDA) used.
and down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation. Down hole survey readings taken every 6m with Boart Longyear Truman multi shot
camera
· Specification of the grid system used.
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. Drillhole data spacing is considered appropriate to allow confident
interpretation of exploration results.
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral pXRF readings taken every 0.5m down the hole.
Resource and Ore Reserve estimation procedure(s) and classifications applied.
No sample compositing has been 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 were oriented vertical (090 degrees) or 070 towards 090degrees
possible structures and the extent to which this is known, considering the which is perpendicular to strike of the geological trough.
deposit type.
Orientational bias is not applicable this stage with half core samples taken
· If the relationship between the drilling orientation and the across full mineralised zone and pXRF sampling every 0.5m downhole
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. Samples were trucked from Alford to Adelaide, to Challenger Geological
Services for cutting and prep, prior to submission to Bureau Veritas, Adelaide
for analysis.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. No formal audits have been 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 Alford East project:
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites, § The JV area covers portions EL6255 and E6529 which are 100% owned by
wilderness or national park and environmental settings. Spencer Metals Ltd.
· The security of the tenure held at the time of reporting along with · PML 268 lies within E6529
any known impediments to obtaining a licence to operate in the area.
· There are no non-government royalties, historical sites or environmental
issues.
· Underlying land title is Freehold land which extinguishes native title.
All tenure in good standing.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. The general area of this report has been explored in the past by various
companies including Jododex, Uranez, North Broken Hill, MIM, Hillgrove
Resources, Argonaut Resources and Sandfire Resources. Activities include AC,
RC, & Diamond drilling, and significant geophysical surveying. The
Company has reviewed past exploration data generated by these companies.
Geology · Deposit type, geological setting and style of mineralisation. Primary deposits in the region are considered to be of Iron Oxide Copper Gold
(IOCG) affinity, related to the 1590Ma Hiltaba/GRV event. Cu-Au-Mo-Pb
mineralisation is structurally controlled and associated with significant
metasomatic alteration and deep weathering or kaolinisation of host rocks.
Locally, the low-grade copper/gold oxide mineralisation that forms the basis
for this Exploration results announcement, is hosted within variably weathered
and sheared metasedimentary basement lithologies.
Drill hole Information · A summary of all information material to the understanding of the Drillhole information is included in report, with Table B summarising
exploration results including a tabulation of the following information for drillhole collar information.
all Material drill holes:
Plan and sections showing drillhole locations is included in report
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.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, Weighted averaging technique is used for reporting exploration assay results,
maximum and/or minimum grade truncations (eg cutting of high grades) and with pXRF Intersections are calculated by simple averaging of 0.5m assays.
cut-off grades are usually Material and should be stated.
No metal equivalents are reported.
· Where aggregate intercepts incorporate short lengths of high-grade
results and longer lengths of low-grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent
values should be clearly stated
Criteria JORC Code explanation Commentary
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of The copper oxide mineralization is associated with intense clay alteration.
Exploration Results. The alteration is interpreted to be similar to that found in the adjacent
Alford West area.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. The drilling intersections quoted are downhole intercept lengths with an
unknown orientation to dip and plunge of the target mineralisation
· 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 Appropriate maps and sections included in document.
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 All results have been 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 All data have been reported
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 Awaiting additional laboratory assays.
extensions or depth extensions or large-scale step- out drilling).
Drilling to continue along sections and areas open to the north and south.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas, Refer to diagram in document for geological interpretation and potential
provided this information is not commercially sensitive. extensions.
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 DRLFFLLLLLLEBBFRecent news on Thor Energy
See all newsREG - Thor Energy PLC - Quarterly Activities and Cash Flow Report
AnnouncementREG - Thor Energy PLC - Completion of Stage 1 Earn-In Commitment - Molyhil
AnnouncementREG - Thor Energy PLC - 3D Model Shows Alford East Copper Mineralisation
AnnouncementREG - Thor Energy PLC - Half-year Report
AnnouncementREG - Thor Energy PLC - High Grade Uranium and Vanadium Assays Results
Announcement