4Jan 2017

Mick Billing, CEO & Chairman of Thor Mining (THR) speaks exclusively to Share Talk

 

Yesterday we spoke exclusively with Mick Billing, CEO & Chairman of Thor Mining plc (LON:THR) about their upcoming drilling programme at Pilot Mountain in Nevada, USA.

Scheduled to commence early in February 2017, using the proceeds of the final Spring Hill settlement, the program of eight reverse circulation (RC) drill holes is designed to confirm and expand upon existing high grade drill intersections, which the directors hope will facilitate a significant increase in the existing Pilot Mountain resources, and also test for extensions of very high grade mineralisation, intersected in the Desert Scheelite resource in 2012.

Highlights:

·        Two holes target extension of the 2012 high grade Desert Scheelite intersection from DSDD015 which comprised; 13.9 metres (m) @ 0.89% tungsten trioxide (WO3) from 198m, and 17.5m @1.8% copper and 2.2% zinc from 196m;

·        Six holes to validate selected 1970’s Union Carbide Corporation drill intersections from the Garnet deposit;

·        Estimation of initial Garnet deposit resource.

·        Potential extension of the Pilot Mountain resource of 6.79 million tonnes (Mt) @ 0.31% WO3 (Table 1)

Mr Mick Billing, Executive Chairman of Thor:  “We have dual objectives for the drilling programme at Pilot Mountain.  The first of these is to add to the overall project resource inventory by twinning some historical holes at the Garnet deposit which, if successful, should allow the preparation of a mineral resource estimate for this deposit.

“The second & potentially very exciting objective is to test for potential extension of very high grade mineralisation at the eastern end of the Desert Scheelite resource, which, if successful, could result in the re-classification of that deposit to a significant copper and tungsten deposit.”

The Desert Scheelite deposit currently comprises 100% of the Pilot Mountain Resource estimate of 6.7Mt.  The objective of the two holes programmed at this deposit is to test for extensions to the very high grade mineralisation intersected in the last hole drilled into this deposit in 2012.

TTier 1 Exploration Targets* at Pilot Mountain are based on 1970’s drilling undertaken by Union Carbide Corporation and total 7.5 to 13.5 Mt at 0.2 to 0.4% WO3 (Table 2). The proposed drilling at Garnet will target conversion to resource of between 1.0 to 2.0Mt of the total Tier 1 Exploration Target.

*Exploration Targets are conceptual in nature and there has been insufficient exploration to define a Mineral Resource under the JORC Code and it is uncertain if further exploration will result in the determination of a Mineral Resource.

To meet the objective of the program at the Garnet deposit Thor have scheduled 6 RC drill holes designed as twins to historical drilling from which the following results were reported

 

Historical Drill hole ref

Interval (m)

Assay (%WO3)

From hole depth (m)

GR66

3.8

0.50%

3.2

7.9

0.14%

40.5

4.9

0.49%

83.6

GR98

0.7

0.30%

7.8

4.1

0.28%

13.6

1.2

0.51%

18.3

GR100

2.2

0.20%

7.1

3.4

0.06%

11.5

4.6

0.36%

15.1

9.4

0.42%

25.9

GR-119

2.2

0.32%

29.9

2.9

0.16%

32.1

3.0

0.90%

34.9

GR-123

4.5

0.58%

14.0

GR-128

7.7

0.04%

18.9

1.4

0.40%

29.9

1.2

0.12%

44.2

1.5

0.12%

48.2

 

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