ASX Code: "THR"
7 May 2019
THOR MINING PLC
Registered Numbers:
United Kingdom 05276 414
Australia 121 117 673
Registered Office:
58 Galway Avenue
MARLESTON, SA, 5035
Australia
Ph: +61 8 7324 1935
Fx: +61 8 8351 5169
Email:
corporate@thormining.com
Website:
www.thormining.com
Twitter @ThorMining
Enquiries: Mick
Billing Executive
Chairman Thor
Mining PLC
+61 8 7324 1935
Nominated Advisor Colin Aaronson Grant Thornton
+44 (0) 20 7383 5100
AIM & ASX Listings:
Shares: THR
Directors:
Michael Billing
David Thomas
Alastair Middleton
Richard Bradey
Key Projects:
•Tungsten Molyhil NT
Pilot Mountain USA
•Copper Kapunda SA
Company Announcements Office
ASX Securities Limited,
20, Bridge Street,
Sydney, N.S.W.
2000
HIGH GRADE INTERIM TUNGSTEN AND COPPER RESULTS
SAMARKAND DEPOSIT - BONYA
The Board of Thor Mining Plc ("Thor") (AIM, ASX: THR) is pleased to announce further positive interim results from drilling at the Bonya tungsten deposits, adjacent Molyhil, in the Northern Territory of Australia.
The Bonya project is held in joint venture with Arafura Resources Limited (ASX: "ARU"), with both parties contributing to the cost of the program in proportion to their project equity (THR 40% : ARU 60%).
Remaining interim results for Samarkand prospect are now available via portable X-ray fluorescence ("XRF") determination. These results should be considered preliminary and subject to confirmation in subsequent laboratory assay. Laboratory assays results may vary from those obtained from XRF.
Tungsten Highlights from Samarkand drilling include:
•15 metres @ 0.44% WO₃ from 19 metres from drill hole 19RC026;
•8 metres @ 0.36% WO₃ from 38 metres from drill hole 19RC028;
•11 metres @ 0.61% WO₃ from 64 metres, including 2 metres @ 0.21% Cu from 69 metres from drill hole 19RC030;
Copper drill intersection highlights include:
•5 metres @ 0.5% Cu from 9 metres including 2m @ 0.22% WO3 from drill hole 19RC029;
•12 metres @ 0.69% Cu from 22 metres from drill hole 19RC030;
•6m @ 0.97% Cu from 38 metres from drill hole 19RC032
Significant drill intercepts are tabulated in full below.
Mick Billing, Executive Chairman, commented: "More very good XRF tungsten results along with exciting copper readings from the Samarkand deposit at Bonya."
"The proposed Molyhil processing facility is designed to extract copper as well as tungsten and molybdenum so any primary copper at Bonya can be extracted at minimal additional cost."
"We look forward to the full laboratory assays from this drill program, along with results from the costean sampling from Marrakech and Tashkent, all expected during May."
Page | 1
Figure 1: Map showing Molyhil and Bonya Deposits
Further Information
The program comprised 2,184 metres of drilling by Reverse Circulation (RC) method on Samarkand, Jericho, White Violet, and Tashkent deposits, and approximately 200 metres of trench sampling across each of the Marrakesh and Tashkent deposits.
The Jericho deposit, in particular, has been mined historically, with a surface stockpile estimated at several hundred tonnes of scheelite ore at surface adjacent to the deposit.
It is anticipated that assay results will be available within four weeks.
Easting | Northing | Hole | Est | |||||||
Elevation | Azi - | true | ||||||||
Hole ID | Deposit | GDA94 | GDA94 | Dip | depth | Intersection | ||||
(m ASL) | muth | width | ||||||||
zone 53) | zone 53) | (m) | ||||||||
(m) | ||||||||||
Intercepts for 19RC001 to 19RC023 provided in previous announcement | ||||||||||
19RC024 | Samarkand | 612011 | 7485446 | 422 | 51.7 | -60.5 | 60 | No significant intercept | - | |
19RC025 | Samarkand | 612031 | 7485459 | 421 | 55.1 | -59 | 100 | 3m | @ 0.53% WO3 from 41m | 1m |
5m | @0.20% WO3 from 52m | 2m | ||||||||
3m | @ 0.08%WO3 from 61m | 1m | ||||||||
4m | @ 0.1%WO3 from 73m | 2m | ||||||||
19RC026 | Samarkand | 612052 | 7485478 | 420 | 47.7 | -60.9 | 60 | 15m @ 0.44%WO3 from 19m | 8m | |
19RC027 | Samarkand | 612055 | 7485480 | 419 | 45.9 | -59 | 40 | 3m | @ 0.13% WO3 from 9m | 1m |
19RC028 | Samarkand | 612046 | 7485433 | 415 | 56.6 | -55.6 | 120 | 8m@0.36% WO3 from 38m | 4m | |
19RC029 | Samarkand | 612078 | 7485355 | 435 | 42.2 | -55.1 | 60 | 5m | @ 0.55% Cu from 9m | 3m |
including 2m @ 0.22% WO3 | 1m | |||||||||
2m | @ 0.37% Cu and 0.08% | |||||||||
WO3 from 24m | 1m | |||||||||
2 |
2m | @ 0.28% Cu and 0.08% | |||||||||
WO3 from 32m | 2m | |||||||||
4m | @ 0.13% Cu from 36m | |||||||||
5m | 0.52% Cu from 44m | |||||||||
19RC030 | Samarkand | 612088 | 7485364 | 435 | 54.7 | -59 | 120 | 14m @ 0.25% Cu from 3m | ||
including 7m @ 0.12% WO3 | 8m | |||||||||
from 10m | ||||||||||
12m @ 0.69% Cu from 22m | ||||||||||
including 4m @ 0.08% WO3 | 6m | |||||||||
from 28m | ||||||||||
11m @ 0.61% WO3 from 64 | ||||||||||
m including 2m @ 0.21% Cu | 6m | |||||||||
from 69m | ||||||||||
8m | @ 0.39% Cu from 98m | |||||||||
including 5m @0.28% WO3 | 4m | |||||||||
from 99m | ||||||||||
19RC031 | Samarkand | 612103 | 7485382 | 431 | 54.8 | -60 | 60 | 7m @0.32% Cu from 25m | 4m | |
1m | @ 0.16% WO3 from 39m | 1m | ||||||||
2m | @0.32% Cu from 57m | 1m | ||||||||
19RC032 | Samarkand | 612110 | 7485390 | 429 | 55.2 | -62.1 | 60 | 2m @ 0.26% Cu from 7m | 1m | |
6m | @ 0.97% Cu from 38m | |||||||||
3m | ||||||||||
including 2m @ 0.09% WO3 | ||||||||||
1m | ||||||||||
from 41m | ||||||||||
Table A: Bonya drilling significant portable XRF intercepts with estimated true widths
Figure 2: Samarkand Deposit Drill Collar Locations
For further information, please contact:
THOR MINING PLC
Mick Billing Executive Chairman +61 8 7324 1935
Competent Person's Report
3
The information in this report that relates to exploration results is based on information compiled by Richard Bradey, who holds a BSc in applied geology and an MSc in natural resource management and who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Bradey is an employee of Thor Mining PLC. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Richard Bradey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including an Inferred resource for the Bonya copper deposit².
Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known deposits. The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.
Thor is also acquiring up to a 60% interest Australian copper development company Environmental Copper Recovery SA Pty Ltd, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource³ on the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery.
Thor has an interest in Hawkstone Mining Limited, an Australian ASX listed company with a 100% Interest in a Lithium project in Arizona, USA.
Finally, Thor also holds a production royalty entitlement from the Spring Hill Gold project⁵ of:
•A$6 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for up to A$1,500 per ounce; and
•A$14 per ounce of gold produced from the Spring Hill tenements where the gold produced is sold for amounts over A$1,500 per ounce.
Notes
¹Refer ASX and AIM announcement of 23 August 2018
²Refer ASX and AIM announcement of 26 November 2018
³ Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018
4
JORC Code, 2012 Edition - Table 1 report
Section 1 Sampling Techniques and Data
Criteria | JORC Code explanation | Commentary | ||||
Sampling | • Nature and quality of sampling (eg cut channels, | Reverse Circulation drilling with face | ||||
techniques | random chips, or specific specialised industry | sampling hammer was used to obtain one | ||||
standard measurement tools appropriate to the | metre interval samples. Subsamples of | |||||
minerals under investigation, such as down hole | approximately 2-3kg were taken from each | |||||
gamma sondes, or handheld XRF instruments, | interval using rotary splitter for indicative | |||||
etc). These examples should not be taken as | portable XRF analysis and follow up | |||||
limiting the broad meaning of sampling. | laboratory analysis | where appropriate. | ||||
• Include reference to measures taken to ensure | Chip tray samples were collected, logged | |||||
sample representivity and the appropriate | and photographed. | |||||
calibration of any measurement tools or systems | Industry standard QAQC protocol was | |||||
used. | ||||||
• Aspects of the determination of mineralisation that | adopted with reference material inserted at | |||||
are Material to the Public Report. | approximately 20%. | |||||
• 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 | • Drill type (eg core, reverse circulation, open-hole | Reverse circulation drilling with face | ||||
techniques | hammer, rotary air blast, auger, Bangka, sonic, | sampling hammer. | ||||
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 | • Method of recording and assessing core and chip | Samples were weighed from a random | ||||
recovery | sample recoveries and results assessed. | selection of holes and compared with | ||||
• Measures taken to maximise sample recovery and | estimated sample weights to gauge overall | |||||
ensure representative nature of the samples. | sample | recoveries. Reasonable | sample | |||
• Whether a relationship exists between sample | recovery was obtained after the initial collar | |||||
recovery and grade and whether sample bias may | sample. | Sample | recoveries | were | ||
have occurred due to preferential loss/gain of | consistent across different rock units. | |||||
fine/coarse material. | ||||||
Logging | • Whether core and chip samples have been | Hole cuttings were logged geologically and | ||||
geologically and geotechnically logged to a level | photographed for the entire length of each | |||||
of detail to support appropriate Mineral Resource | hole. | |||||
estimation, mining studies and metallurgical | Mineralised and unmineralised zones were | |||||
studies. | easily | determined | from | geological | ||
• Whether logging is qualitative or quantitative in | observations. | |||||
nature. Core (or costean, channel, etc) | ||||||
photography. | ||||||
• The total length and percentage of the relevant | ||||||
intersections logged. | ||||||
Sub- | • If core, whether cut or sawn and whether quarter, | Subsamples for independent | laboratory | |||
sampling | half or all core taken. | analyses were taken as follow; | ||||
techniques | • If non-core, whether riffled, tube sampled, rotary | Rotary splitter - all samples were dry. As | ||||
and sample | split, etc and whether sampled wet or dry. | per industry standard QAQC protocol, field | ||||
preparation | • For all sample types, the nature, quality and | duplicates made up 30% of the quality | ||||
appropriateness of the sample preparation | control samples. | |||||
technique. | Sample size of 2-3kg is appropriate for RC | |||||
• Quality control procedures adopted for all sub- | samples with a maximum particle size of | |||||
5 |
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Thor Mining plc published this content on 07 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 May 2019 01:02:03 UTC