REG - Thor Mining PLC - Ragged Range Sampling Update
25/07/2022 07:00
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RNS Number : 5275T Thor Mining PLC 25 July 2022
25 July 2022
Thor Mining PLC
("Thor" or the "Company")
Ragged Range Project, WA
Sampling Update
High-grade Copper and Gold Returned at the Sterling and Kelly's Prospects
The directors of Thor Mining Plc (AIM, ASX: THR, OTCQB: THORF) are pleased to
provide an exploration update on sampling and mapping programs which have been
completed at the Company's 100% owned Ragged Range Project, located in Eastern
Pilbara, Western Australia.
Project highlights:
§ Three programs of reconnaissance mapping with rock chip and stream sediment sampling completed over the Ragged Range Project.
§ Rock chip sampling over the 13km-long Sterling Prospect returned up to 6g/t Au in rock chip (R00053-Photo 1) along newly identified cross structures that strike oblique to the regional faulted contact - Norman Cairn Fault - between the Dalton Suite and Euro Basalts (Figure 2).
§ At the Kelly's Prospect, anomalous gold (up to 1.46g/t) and copper (4.8% Cu) have been identified along the northwest trending, 1.2km long x 25m wide ridge at the contact of Euro Basalt and Boobina Porphyry (Figure 2).
§ Heritage Survey with the Nyamal Native Title group was completed over the Kelly's Prospect in preparation for drill testing.
§ Geological mapping and sampling will continue over the Project as the Company validates its structural and mineralising geological models.
§ All samples from the recently completed RC drilling program have now been received by the laboratory, and the Company awaits assay results.
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"These latest highly encouraging sampling results, including high-grade copper
and gold, from three consecutive programs at Ragged Range continue to build on
and develop our geological understanding, with particular emphasis on
structural controls on mineralisation at both the Sterling gold prospect and
Kelly's copper-gold prospect.
"Sampling is to continue with an airborne magnetics survey over the Kelly's
copper-gold prospect and the north-eastern portion of the tenure scheduled for
late July, to assist with lithological and structural interpretations."
Figure 1: Ragged Range Tenement Location Map showings priority prospects may
be viewed via the following links:
http://cms.thormining.com/sites/thormining/media/pdf/asx-announcements/20212022/20-004-4f-ragged-range-greatland-highlights.jpg
(http://cms.thormining.com/sites/thormining/media/pdf/asx-announcements/20212022/20-004-4f-ragged-range-greatland-highlights.jpg)
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 recently granted E46/1393, Figure 1).
Sampling Programs
In parallel with the recently completed RC drilling at the Sterling and Krona
Prospects (AIM:THR 11 July 2022), three rock chip and stream sediment sampling
programs across the Ragged Range Project area have been undertaken.
The geological mapping and sampling programs were designed to:
§ Further develop and validate Thor's geological model by identifying key
mineralising structures and gold distribution at the Sterling prospect.
§ Sample historic copper working at Kelly's Prospect to gain a greater
understanding of the controlling structures, the tenor of gold mineralisation
associated with the visible copper and /or geochemical lithological
boundaries.
§ Review lithological boundaries and potential alteration signatures using
newly-acquired ASTER data.
§ Identify potential outcropping lithium-caesium-tantalum (LCT) enriched
pegmatites.
97 rock chip samples and 24 stream samples were collected in total (of which
57 rock chips and 12 stream sample results have been received back from the
laboratory to date), highlighting significant gold and copper mineralisation
and assisting with the structural interpretation of key controlling structures
at Sterling and Kelly's Prospects (Figure 2 and Table X).
No outcropping LCT-enriched pegmatites have been identified to date, however,
lithium exploration will continue with stream and soil sampling within the
10km goldilocks zone around the prospective Mondana Monzogranite, part of the
Split Rock Supersuite. Encouraging anomalous pathfinders in some samples
warrant further investigation.
Photo 1: Rock chip sample R0053- quartz vein in sheared and foliated
ultramafics may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/pdf/ASX-Announcements/20212022/Photo-1--sheared-quartz-vein-in-sheared-and-foliated-ultramaficR000053.JPG
(http://www.thormining.com/sites/thormining/media/pdf/ASX-Announcements/20212022/Photo-1--sheared-quartz-vein-in-sheared-and-foliated-ultramaficR000053.JPG)
Figure 2: Sample location map may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20212022/ragged-range-geochem-202206v2.png
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20212022/ragged-range-geochem-202206v2.png)
Table X: Significant samples above 0.1g/t Au and 0.6% Cu
PROSPECT SAMPLE ID EASTING NORTHING g/t GOLD % COPPER Sample Type
Kelly's R00013 797776 7586901 1.46 Rock Chip
Kelly's R00014 794733 7588377 0.87 Rock Chip
Kelly's R00015 797143 7587790 0.1 0.69 Rock Chip
Kelly's R00016 797131 7587762 4.48 Channel Chip
Kelly's R00017 797234 7587632 0.2 2.75 Channel Chip
Kelly's R00042 794076 7586684 0.36 1.22 Channel Chip
Sterling R00053 781441 7584154 6.0 Rock chip
Sterling R00055 781797 7584185 0.73 Rock Chip
Sterling R00056 782316 7583348 0.14 Rock Chip
Sterling ST0002 784364 7581183 0.98 Stream
Project - GDA94 Zone 50
Sterling Prospect
The focus to date at Sterling Prospect has been on the 13km gold corridor
defined by stream and soil samples along the north-northwest thrust faulted
contact between the Dalton Suite ultramafics and the Euro Basalt (Norman Cairn
Fault). After a detailed geological and structural review of the complex
folding and faulting within the ultramafics and basalts by consultant
geologist Jennifer Gunter, Virga Consulting Pty Ltd, several priority areas
and potential dilutional zones have been highlighted, warranting ground
truthing, sampling, and follow up drill testing (Figure 3). Close to one of
these new structural target areas (called R27), a coarse stream sediment
sample (ST0002) reported 0.98g/t Au with one grain of gold noted in the pan.
This target and others were tested as part of the recently completed RC
drilling program (AIM: THR 11 July 2022).
The 6g/t Au sample (R00053- Photo 1) lies within the "Kink zone": in Central
Sterling, an area of complex faulting and significant dilation. This gold
sample was collected within an outcropping quartz breccia vein associated with
an oblique fault system to the regional Norman Cairn Fault (Figure 2 and 3).
Figure 3: Faulting and folding structural interpreation overlaying landsat
image may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/pdf/ASX-Announcements/20212022/rr-structural-intrep.jpg
(http://www.thormining.com/sites/thormining/media/pdf/ASX-Announcements/20212022/rr-structural-intrep.jpg)
Kelly's Prospect
The Kelly's Prospect consists of a few small, high-grade historic copper workings; these appear to be associated with shear zones cross cutting the northwest trending Boobina Porphyry/Euro Basalt boundary (Figure 1).
At Kelly's Mine, historic production(1) between 1955-1970, although small, was
of very high grade - 610t of ore averaging 19.47% Cu (Figure 1 and Photo plate
2).
Exploration to date has been sporadic, with no systematic approach over the
area. Thor's sampling program to date has targeted areas along strike of
known mineralisation, zones of alteration, shears/faults and zones of
brecciation, including sampling along the northwest trending, 1.2km long x 25m
wide ridge between Euro Basalt and Boobina Porphyry (Photo 2). Both
anomalous gold (up to 1.46g/t) and copper (up to 4.28% Cu) have been
identified.
A Heritage Survey with the Nyamal Native Title Claimant Group was completed
over the Kelly's Prospect in early July in preparation for drill testing.
Photo 2: Kelly's Prospect looking southeast showing ridge between Boobina
Porphyry and Euro Basalt
http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20212022/photo-2--kellys-prospect-.jpg (http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20212022/photo-2--kellys-prospect-.jpg)
Next Steps:
§ Await RC drilling assay results - anticipated in August - September.
§ Downhole Electromagnetic Survey (DHEM) on Krona drillhole.
§ Airborne magnetic survey over the north-eastern portion of tenure,
scheduled for late July.
§ Continue to review and model historic data over the Kelly's area in
preparation for drill testing.
§ Await the full set of rock chip sample data, especially covering the
Kelly's South ridge where 1.46g/t Au was reported.
§ Continue reconnaissance sampling over ground in the northern portion of
tenure for prospective lithium-caesium-tantalum enriched (LCT) pegmatites.
(1) https://www.mindat.org/loc-122951.html
(https://www.mindat.org/loc-122951.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
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
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)
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 The programme comprised
specific specialised industry standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma sondes, or handheld XRF BLEG stream sediment sampling - assayed for Au by the 1kg BLEG method and
instruments, etc). These examples should not be taken as limiting the broad fire assay FA001.
meaning of sampling.
Rock chip sampling was based on geological outcrops, with analysis for Au by
· Include reference to measures taken to ensure sample representivity 25g fire assay FA001 and multi-element by MA101 four acid digest.
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.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary Not applicable- no drilling reported
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).
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and Not applicable - no drilling reported
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.
Logging · Whether core and chip samples have been geologically and No logging was undertaken
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies. Lithological descriptions recorded for all samples
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
· The total length and percentage of the relevant intersections logged.
Sub- sampling techniques · If core, whether cut or sawn and whether quarter, half or all core Samples were screened in the field as described in "Sampling Techniques"
taken. above.
· If non-core, whether riffled, tube sampled, rotary split, etc and The sample sizes are as per industry standard for stream
whether sampled wet or dry.
· For all sample types, the nature, quality and
Criteria JORC Code explanation Commentary
and sample preparation appropriateness of the sample preparation technique. sediment geochemistry.
· Quality control procedures adopted for all sub-sampling stages to Field duplicates and blank samples were submitted for assay with the other
maximise representivity of samples. 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.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and The proposed assay method is appropriate for preliminary exploration.
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.
Verification of sampling and assaying · The verification of significant intersections by either independent Not undertaken
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.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar Hand held GPS - MGA94 zone 50 (GDA)
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.
Data spacing and distribution · Data spacing for reporting of Exploration Results. Sampling is based on outcrop
· 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.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of Orientational bias is not applicable to stream and rockchip sampling at this
possible structures and the extent to which this is known, considering the stage
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.
Sample security · The measures taken to ensure sample security. Geochemistry samples were trucked back from
Nullagine to the Bureau Veritas Adelaide, SA
Sample Security levels are considered appropriate for preliminary surface
geochemistry 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 Exploration results are reported on E46/1190, E46/1262, E46/1393 in Western
agreements or material issues with third parties such as joint ventures, Australia held 100% by Pilbara Goldfields Pty Ltd, Thor Mining PLC.
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 done by other parties · Acknowledgment and appraisal of exploration by other parties. Sporadic surface geochemistry over tenure carried out by Great Southern Mines
up to 1997. No previous lithium exploration.
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 No drilling has been undertaken or reported
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.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, Only rock chip and stream assays have been reported. There has been no data
maximum and/or minimum grade truncations (eg cutting of high grades) and aggregation.
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.
· assumptions used for any reporting of metal equivalent
· The 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 No drilling has been undertaken or reported
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').
Diagrams · Appropriate maps and sections (with scales) and tabulations of A sample location plan including current 1:100k scale geology has been
intercepts should be included for any significant discovery being reported provided
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 It is anticipated that follow up and reconnaissance geochemistry (rockchip,
extensions or depth extensions or large-scale step- out drilling). soil & stream) and geological mapping will be undertaken over tenure ,
including Sterling and Kelly's prospects.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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 It is anticipated that follow up and reconnaissance geochemistry (rockchip,
extensions or depth extensions or large-scale step- out drilling). soil & stream) and geological mapping will be undertaken over tuenure ,
including Sterling and Kellys prospects.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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