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    THR   GB00BD0NBV71

THOR MINING PLC

(THR)
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Thor Mining PLC Announces Drilling Commences at Alford East Copper-Gold ISR Project, South Australia

06/10/2021 | 02:00am EDT

The directors of Thor Mining PLC announced the commencement of drilling at Alford East Copper-Gold Project, SA. This initial 2000m diamond drilling program focusses only on the northern portion of the Alford East copper gold deposit around the Netherleigh Park and AE5 mineralised domains. Historic aircore drilling often stopped on blade refusal (silcrete horizon), with only a number of deeper diamond holes extending to fresh rock, hence this initial drilling program is designed to test the depth extent of the oxide mineralisation, adjacent and along strike of these mineralised diamond hole. In addition, drill holes will be placed along strike of the Netherleigh Park and AE5 mineralised zones to confirm strike extent and continuity of the mineralization. A new geological model comprising trough and ridge style of faulting has developed from 3D modelling of geology. This modelling has identified new weathering boundaries and highlighted key structures controlling and offsetting mineralization. Planned holes are hence designed to expand potential weathered zones where the top of fresh rock has yet to be intersected in drilling and validate the controlling mineralised structures. The diamond drilling program will be carried out by GMP Exploration Drilling Pty Ltd. During the drilling program groundwater analysis and core samples will be collected for hydrometallurgical and groundwater studies. The hydrometallurgical work will be undertaken by Mining and Process Solutions Pty Ltd. (MPS) with water analysis by Groundwater Science Pty Ltd. The key objective of the initial metallurgical work is to develop the best lixiviant formulation for the oxide copper-gold mineralisation of Alford East deposit in the context of an ISR based approach. Understanding the ground water characteristics especially pH and chemical composition is essential for the lixiviant trials and any potential ISR development. In conjunction with the technical assessment Thor will continue ongoing stakeholder and community engagement, and regulatory activities.


ę S&P Capital IQ 2021
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Financials
Sales 2020 - - -
Net income 2020 -0,92 M -1,26 M -1,26 M
Net cash 2020 0,19 M 0,26 M 0,26 M
P/E ratio 2020 -3,28x
Yield 2020 -
Capitalization 15,8 M 21,7 M 21,6 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 7
Free-Float 63,9%
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Mean consensus BUY
Number of Analysts 0
Last Close Price 0,90 GBX
Average target price 2,60 GBX
Spread / Average Target 189%
Managers and Directors
Nicole Marie Galloway Warland Managing Director & Director
Ray Ridge Chief Financial Officer & Co-Secretary
Mark Roderick Potter Non-Executive Chairman
Mark McGeough Non-Executive Director
Stephen Frank Ronaldson Co-Secretary