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REG - Thor Mining PLC - Ragged Range Exploration Update

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RNS Number : 1078E  Thor Mining PLC  26 October 2022

26 October 2022

 

Thor Mining PLC

 

("Thor" or the "Company")

 

Ragged Range, WA

Exploration Update

The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are
pleased to provide an exploration update for the Ragged Range Project, located
in the eastern Pilbara, Western Australia.

Project highlights:

§ Completion of the 2,000m reverse circulation ("RC") drilling program at
Kelly's Prospect, Ragged Range.

§ Six holes tested the Kelly's Ridge area following up on rock chip samples
returning up to 15.5 g/t Au and 535g/t Ag, and a historic drill intercept of
1.5m @ 22.97g/t Au (DDHK2 drilled in 1969(1)).

§ Two holes were drilled beneath the high-grade Kelly's historic copper
workings, testing potential chalcopyrite extensions at depth (historic
production: 609t of cupreous ore with a grade of 19% Cu, mined 1955-1970).

§ Two holes tested a new conceptual target called Kellys NE.

§ RC drilling at the Sterling Prospect has returned anomalous gold results up
to 6m @ 0.2g/t Au from 83m (22RRC010) associated with extensive
sericite-sulphide alteration.

 

http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf)

Photo 1: Drilling at Kelly's Ridge Prospect, Ragged Range

Nicole Galloway Warland, Managing Director of Thor Mining, commented:

"We are pleased to report that the 2,000m drilling program at the Kelly's
Prospect, Ragged Range is now complete. The program was designed to follow up
on prospective rock chip samples, including a high-grade, historic drill
intercept. We look forward to reporting the results of the program in due
course.

"Drilling at Sterling has highlighted several zones of intense alteration with
anomalous gold warranting detailed structural mapping and sampling, including
veining associate with the 6g/t rock chips at Sterling central "Kink" area."

 

The Ragged Range Project, located in the prospective Eastern Pilbara Craton,
Western Australia, is 100% owned by Thor Mining (covering E46/1190, E46/1262,
E46/1355, E46/1340 and E46/1393 - Figure 2 and Figure 3).

 

http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf)

Figure 1: Location Plan

 

 

Kelly's Prospect

A small, 10-hole RC drilling program was completed at the Kelly's Prospect,
testing Kelly's Ridge, Kelly's Copper and Kelly's NE areas.

Drilling at Kelly's Ridge was designed to test below the high-grade rock chips
returning up to 15g/t Au and 535g/t Ag along the 1 km silicified ridge at the
contact between the Boobina Porphyry and Euro Basalt and to also test below
and along strike of the historic drill hole (DDHK2), that reported  1.5m @
22.97g/t gold located at the porphyry-basalt contact.

Two historic copper mines were worked on at either end of the Boobina
Porphyry/Euro Basalt contact; Copper Hills (which produced 15,730t of cupreous
ore with a grade of 13% Cu, mined in 1952-1963)(3) and Kelly's (which produced
609t of cupreous ore with a grade of 19% Cu, mined in 1955-1970).

The north-north-west trending mineralisation at Kelly's Copper Mine, extending
over 600 metres, is developed in quartz veins along shears, cutting the
Boobina Porphyry. The oxidised zone contains malachite, azurite, cuprite,
chrysocolla, with bornite and chalcocite in the supergene zone, and pyrite and
chalcopyrite in quartz- sericite-chlorite alteration at depth.

Two drillholes were positioned to drill beneath these historic high-grade
workings to provide a representative sample of mineralisation, rock types, and
alteration. The holes extended through the volcanic porphyries into the
basalt, testing the contact at depth for primary sulphide copper
mineralisation (chalcopyrite).

 

http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf)

Figure 2: Kelly's Prospect, highlighting drill collars and gold in rock chips.

 

http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf)

Figure 3: Kelly's Ridge cross section, showing drill collars, historic drill
intercept and high-grade rock chip

 

Sterling Prospect

 

In July 2022, 48 drillholes totalling 3,120m were drilled along the Sterling
Prospect 13km structural gold corridor, testing interpreted dilational zones
(potential trap sites for mineralisation and the potential source of the gold
anomalies found in stream and soil samples) (ASX/AIM: 11 July 2022).

 

Drilling intercepted key zones of sericite-sulphide-quartz alteration, with
anomalous gold up to 6m @ 0.16 g/t Au at the southern end of the prospect
(Table A, Figures 4 - 6). Although the tenure of the gold result is low these
results demonstrate gold is present in the system and warrant following up
with detailed structural and geochemical mapping.

 

Table A: Sterling Prospect Drilling -All Significant Gold Intercepts above
0.1g/t Au

(refer to Table B for list all Drill Collar information)

 Hole ID    Easting MGA94E  Northing MGA94N  ASL  Dip  Azi  EOH         From  To   Interval  Au g/t

                                                            Depth (m)
 22RRRC002  784040          7580769          384  60   224  60          30    33   3         0.12
 22RRRC010  784291          7580725          384  75   9    114         83    89   6         0.16
 22RRRC047  784354          7580696          386  71   7    126         6     9    3         0.11
 22RRRC048  784290          7580720          380  86   356  168         144   145  1         0.1

http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf)

Figure 4: Sterling Prospect Drill traverse

http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf)

Figure 5: Sterling Prospect showing drilling in the south area refereed to as
R27and location of cross sections

 

 

http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf)

Figure 6: Cross sections showing anomalous gold intercepts associated with
high arsenic and ferruginous quartz vein at surface

 

http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf)

Photo 2: 22RRC010 drill spoils showing the strong 'white' sericite altered
zone from approximately 73m with gold - 6m @ 0.2g/t Au from 83m with Euro
basalt

 

Next Steps

The following activities and results at Ragged Range are anticipated over the
coming weeks:

1.   Report assay results from the Kelly's drilling program

2.   Report Platinum Group Elements (PGE) results from the Krona Nickel
Drillhole - 22RRC045 - associated with the 66m @ 0.2% Ni from 81m (ASX/AIM: 20
September 2022)

3.   Continue regional exploration, including reconnaissance sampling over
ground in the northern portion of tenure for prospective
lithium-caesium-tantalum enriched (LCT) pegmatites

 

References:

1.   DDHk2, drilled by Hawkstone 1969, Open File Annual Report

2.   Kelly's: produced 609t of cupreous ore with a grade of 19% Cu, mined
1955-1970. https://www.mindat.org/loc-122951.html

3.   Copper Hill: produced 15,730 t of cupreous ore with a grade of 13% Cu,
mined 1952-1963

https://www.mindat.org/loc-122950.html

 

 

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
 Antonio Bossi / 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

 

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 is based on
information compiled by Nicole Galloway Warland, who holds a BSc Applied
geology (HONS) and who is a Member of The Australian Institute of
Geoscientists. Ms Galloway Warland is an employee of Thor Mining PLC. She has
sufficient experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which she is
undertaking to qualify as a Competent Person as defined in the 2012 Edition of
the 'Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves'. Nicole Galloway Warland consents to the inclusion in the
report of the matters based on her information in the form and context in
which it appears.

 

Updates on the Company's activities are regularly posted on Thor's website
www.thormining.com (http://www.thormining.com/) , which includes a facility to
register to receive these updates by email, and on the Company's twitter page
@ThorMining.

 

About Thor Mining PLC

Thor Mining PLC (AIM, ASX: THR; OTCQB: THORF) is a diversified resource
company quoted on the AIM Market of the London Stock Exchange, ASX in
Australia and OTCQB Market in the United States.

The Company is advancing its diversified portfolio of precious, base, energy
and strategic metal projects across USA and Australia. Its focus is on
progressing its copper, gold, uranium and vanadium projects, while seeking
investment/JV opportunities to develop its tungsten assets.

Thor owns 100% of the Ragged Range Project, comprising 92 km(2) of exploration
licences with highly encouraging early stage gold and nickel results in the
Pilbara region of Western Australia.

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 B: Sterling Prospect Drilling - Drill Collars Information (MGA94 Zone
50)

 

 Hole_ID    EOH  Easting  Northing  RL     Dip     Azi_TN  Tenement
 22RRRC001  54   784019   7580748   384.2  -61.12  223.26  E46/1262
 22RRRC002  54   784040   7580769   384.2  -60.12  223.14  E46/1262
 22RRRC003  54   784058   7580789   382.8  -60.69  221.68  E46/1262
 22RRRC004  54   784072   7580805   384.6  -60.52  223.49  E46/1262
 22RRRC005  54   784092   7580825   385.8  -59.82  222.17  E46/1262
 22RRRC006  60   784107   7580841   383.7  -60.57  220.71  E46/1262
 22RRRC007  54   784128   7580862   381.5  -60.73  228.14  E46/1262
 22RRRC008  60   784148   7580877   384.4  -60.38  225.29  E46/1262
 22RRRC009  60   784292   7580727   383.7  -60.11  9.89    E46/1262
 22RRRC010  114  784291   7580725   383.9  -75.16  8.01    E46/1262
 22RRRC011  54   781661   7583961   396.9  -60.15  225.53  E46/1262
 22RRRC012  120  781663   7583964   397.1  -75.67  225.56  E46/1262
 22RRRC013  54   781678   7583980   395.7  -59.3   221.69  E46/1262
 22RRRC014  54   781696   7583994   395.4  -60.44  220.97  E46/1262
 22RRRC015  54   781713   7584012   393.8  -60.94  224.31  E46/1262
 22RRRC016  54   781274   7584339   396.5  -60.21  224.58  E46/1262
 22RRRC017  54   781302   7584355   391.1  -60.13  228.19  E46/1262
 22RRRC018  54   781314   7584364   392.3  -59.95  224.28  E46/1262
 22RRRC019  54   781337   7584376   395.8  -60.08  223.49  E46/1262
 22RRRC020  54   781359   7584399   391.3  -60.03  226.26  E46/1262
 22RRRC021  54   781375   7584420   391.3  -60.09  223.88  E46/1262
 22RRRC022  54   781393   7584431   392.4  -60.68  225.69  E46/1262
 22RRRC023  60   780157   7586048   381.9  -60.05  223.24  E46/1262
 22RRRC024  60   780174   7586065   379.3  -61.28  224.54  E46/1262
 22RRRC025  54   780195   7586083   381.8  -60.65  225.15  E46/1262
 22RRRC026  60   780210   7586099   374    -59.44  224.93  E46/1262
 22RRRC027  54   779425   7587946   375.8  -60.96  224.06  E46/1190
 22RRRC028  54   779444   7587963   373.9  -60.34  223.2   E46/1190
 22RRRC029  54   779466   7587981   372.2  -59.69  224.06  E46/1190
 22RRRC030  54   779485   7588001   372.2  -60.33  224.05  E46/1190
 22RRRC031  60   779495   7588012   372.8  -59.37  223.42  E46/1190
 22RRRC032  54   779392   7588162   375.1  -60.08  226.38  E46/1190
 22RRRC033  54   779409   7588179   373.3  -60.62  226.96  E46/1190
 22RRRC034  54   779432   7588198   372.8  -59.58  225.96  E46/1190
 22RRRC035  54   779445   7588212   370.9  -60.04  224.72  E46/1190
 22RRRC036  54   779469   7588236   370.8  60.3    226.56  E46/1190
 22RRRC037  54   779482   7588250   370.6  -60.27  224.74  E46/1190
 22RRRC038  66   780632   7585985   380.3  -59.81  224.5   E46/1262
 22RRRC039  54   780655   7586005   378.3  -60.27  227.4   E46/1262
 22RRRC040  54   780668   7586020   380.5  -60.32  222.38  E46/1262
 22RRRC041  60   780877   7585503   384.8  -60.3   226.71  E46/1190
 22RRRC042  54   780895   7585520   387.3  -60.17  222.92  E46/1190
 22RRRC043  60   780910   7585540   380.9  -59.83  221.92  E46/1190
 22RRRC044  72   780930   7585558   380.5  -60.85  224.16  E46/1190
 22RRRC045  174  782678   7580968   296.9  -53.16  301.95  E46/1262
 22RRRC046  66   784355   7580697   385.8  -60.21  6.12    E46/1262
 22RRRC047  126  784354   7580696   380.6  -70.58  6.37    E46/1262
 22RRRC048  168  784290   7580720   380.4  -86.45  354.74  E46/1262

 

1   JORC Code, 2012 Edition - Table 1

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           Reverse circulation drill samples were collected utilising a PVC sampling
                                                          specific specialised industry standard measurement tools appropriate to the      spear on the drill cutting piles to collect a 3m composite sample weighing
                                                          minerals under investigation, such as down hole gamma sondes, or handheld XRF    approximately 3kg. Equal portions were taken from each pile to ensure
                                                          instruments, etc). These examples should not be taken as limiting the broad      representative samples and every metre was sampled. In addition, 1m samples
                                                          meaning of sampling.                                                             were collected directly off the cyclone (1/8 split), which can be assayed as

                                                                                required to replace the 3m composite sample results. In zones of visual
                                                          ·    Include reference to measures taken to ensure sample representivity         interest during drilling, these 1m splits were submitted for analysis instead
                                                          and the appropriate calibration of any measurement tools or systems used.        of the 3m composites.

                                                          ·    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.
 Drilling techniques                                      ·    Drill type (eg core, reverse circulation, open-hole hammer, rotary          Reverse circulation drilling (5 ¼
                                                          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,          inch diameter)
                                                          whether core is oriented and if so, by what method, etc).
 Drill sample recovery                                    ·    Method of recording and assessing core and chip sample recoveries and       Sample recovery was good. Each drill cutting pile size is logged and any
                                                          results assessed.                                                                deviation from expected is raised with the driller, and if undersize, to check

                                                                                for blockages. No sample biases are expected, and no relationship is known to
                                                          ·    Measures taken to maximise sample recovery and ensure representative        exist between sample recovery and grade.
                                                          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.
 Logging                                                  ·    Whether core and chip samples have been geologically and                    All chip samples are qualitatively geologically logged (lithology, structure,
                                                          geotechnically logged to a level of detail to support appropriate Mineral        alteration, veining, mineralisation, weathering, colour and other features).
                                                          Resource estimation, mining studies and metallurgical studies.                   No mineral resource estimation, mining studies or metallurgical studies have

                                                                                been conducted at this stage, but samples have been logged in sufficient
                                                          ·    Whether logging is qualitative or quantitative in nature. Core (or          detail to use for this function.
                                                          costean, channel, etc) photography.

                                                          ·    The total length and percentage of the relevant intersections logged.
 Sub- sampling techniques and sample preparation          ·    If core, whether cut or sawn and whether quarter, half or all core          Drill samples were taken dry with a PVC spear as described in "Sampling

                                                        taken.                                                                           Techniques" above. The sample sizes are as per industry standard for RC

                                                                                drilling.

                                                        ·    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        Sampling is carried out using standard protocols and QAQC procedures as per

                                                        sample preparation technique.                                                    industry practice.

                                                        ·    Quality control procedures adopted for all sub-sampling stages to           Field QAQC procedures for drilling involved the use of a certified standard,
                                                          maximise representivity of samples.                                              blank and field duplicate sample submitted every 20 samples (i.e., 17 samples

                                                                                and 3 QAQC samples). These are routinely checked against originals.
                                                          ·    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.

                                                                                All samples were sent to Bureau Veritas Laboratories in Adelaide, which is an
                                                          ·    Whether sample sizes are appropriate to the grain size of the               ISO 9001 accredited laboratory. Sample preparation includes sorting and
                                                          material being sampled.                                                          drying, followed by LM5 pulverising (PR303).

 Quality of assay data and laboratory tests               ·    The nature, quality and appropriateness of the assaying and                 The assay method is considered 'industry standard' and appropriate for
                                                          laboratory procedures used and whether the technique is considered partial or    exploration.
                                                          total.

                                                          ·    For geophysical tools, spectrometers, handheld XRF instruments, etc,

                                                          the parameters used in determining the analysis including instrument make and    Drill samples were assayed at Bureau Veritas Laboratories in Adelaide by lead
                                                          model, reading times, calibrations factors applied and their derivation, etc.    collection fire assay with a 40g charge and AAS finish for gold with a

                                                                                detection limit of 0.01ppm (FA001) and multi-element analysis by mixed acid
                                                          ·    Nature of quality control procedures adopted (eg standards, blanks,         digest and ICP-MS (MA102) and ICP-AES (MA101).
                                                          duplicates, external laboratory checks) and whether acceptable levels of

                                                          accuracy (ie lack of bias) and precision have been established.

                                                                                                                                           Internal certified laboratory QAQC was undertaken including check samples,
                                                                                                                                           duplicates, blanks and internal standards

                                                                                                                                           Handheld pXRF readings

                                                                                                                                           readings are taken on -2mm sieved samples on every drill metre, using an
                                                                                                                                           OIympus Vanta Series C with a 40 second reading time.

                                                                                                                                           Instrument is calibrated at start of each day, along with QAQC of 1 standard
                                                                                                                                           and 1 blank. External instrument calibration completed annually.

                                                                                                                                           All drill samples are measured for magnetic susceptibility at 1m intervals
                                                                                                                                           using a hand-held magnetic susceptibility meter.
 Verification of sampling and assaying                    ·    The verification of significant intersections by either independent         All significant intersections have been verified by a company geologist and
                                                          or alternative company personnel.                                                alternative company geologist.

                                                          ·    The use of twinned holes.                                                   There are no twinned drillholes.

                                                          ·    Documentation of primary data, data entry procedures, data                  All drilling data is collected in a series of templates in excel including
                                                          verification, data storage (physical and electronic) protocols.                  geological logging, sample information, collar and survey information.

                                                          ·    Discuss any adjustment to assay data.                                       All data is digitally recorded in the company's electronic database, managed
                                                                                                                                           by external database company utilising Datashed5 software.

                                                                                                                                           No adjustments have been made to the assay data.
 Location of data points                                  ·    Accuracy and quality of surveys used to locate drill holes (collar          Drill collars were surveyed using a handheld Garmin 62s GPS with an accuracy
                                                          and down-hole surveys), trenches, mine workings and other locations used in      of +/-3m. Grid system is MGA94 zone 50 (GDA). Drill rig alignment at the
                                                          Mineral Resource estimation.                                                     collar was conducted using a north seeking gyro. Topographic control using the

                                                                                GPS is suitable for early- stage exploration.
                                                          ·    Specification of the grid system used.

                                                          ·    Quality and adequacy of topographic control.
 Data spacing and distribution                            ·    Data spacing for reporting of Exploration Results.                          Data spacing for preliminary exploration is deemed sufficient to test

                                                                                geochemical anomalies and mapped structural features. No sample compositing of
                                                          ·    Whether the data spacing and distribution is sufficient to establish        data was conducted. Sufficiently anomalous assays and any other zones of
                                                          the degree of geological and grade continuity appropriate for the Mineral        interest will be assayed in more detail using the 1m samples collected off the
                                                          Resource and Ore Reserve estimation procedure(s) and classifications applied.    cyclone.

                                                          ·    Whether sample compositing has been applied.
 Orientation of data in relation to geological structure  ·    Whether the orientation of sampling achieves unbiased sampling of           Orientational bias is not applicable to RC drilling at this stage but samples
                                                          possible structures and the extent to which this is known, considering the       and drill lines were orientated approximately perpendicular to the assumed
                                                          deposit type.                                                                    strike of gold mineralisation.

                                                          ·    If the relationship between the drilling orientation and the
                                                          orientation of key mineralised structures is considered to have introduced a
                                                          sampling bias, this should be assessed and reported if material.
 Sample security                                          ·    The measures taken to ensure sample security.                               All samples were trucked back from Bonney Downs Station to Bureau Veritas
                                                                                                                                           Adelaide, SA (Via Perth Lab) via registered freight company.

                                                                                                                                           Sample Security levels are considered appropriate for RC Drilling.
 Audits or reviews                                        ·    The results of any audits or reviews of sampling techniques and data.       None undertaken. Thor's sampling procedure conforms to industry standard
                                                                                                                                           practice and each assay program is reviewed internally for any discrepancies.

 

 

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