Quarterly Activites Report
|
Highlights |
Outlook for June Quarter 2022 |
|
|
GOLD, LITHIUM, NICKEL Ragged Range, Pilbara region, WA Australia |
||
|
· Field programs recommenced following the opening of the WA border. · Lithium mapping and sampling program underway; testing potential lithium-caesium-tantalum (LCT) pegmatite targets associated with the Split Rock Supersuite.
|
· Results from a Fixed Loop Electromagnetic Survey (FLEM) over the Krona Prospect, nickel gossan. · Follow up RC drilling program for gold mineralisationn at the Sterling Prospect. · Regional mapping and stream sediment sampling results, targeting additional gold and lithium pegmatites. · Airborne magnetics survey over the eastern portion of newly granted tenure. |
|
|
URANIUM & VANADIUM USA |
||
|
· Received permitting approval from San Miguel County for proposed drill testing at the Wedding Bell Project, Colorado. · The uranium spot price is at an 11 year high, with geopolitical tensions, strong demand, constrained supplies, and underinvestment continuing to drive the price up. |
· Final authorisation for proposed drilling at Wedding Bell Project. · Drilling preparations underway to test Groundhog, Rim Rock and Section 23 at Wedding Bell Project, Colorado.
|
|
|
COPPER Alford East, SA Australia · All assays now received from Phase 1 diamond drilling program highlighting based high grade copper-gold zones · 3D geological model demonstrates lithological and structural controls on mineralisation, highlighting key areas to drill test potential high-grade copper-gold intercepts. |
· Continue In-Situ Recovery (ISR) assessment and development of the project. · Phase 2 diamond drilling is being designed to target potential high-grade copper zones along strike.
|
|
|
Kapunda, SA Australia (via 30% equity holding in EnviroCopper Ltd) |
||
|
· ISR push-pull trials underway, with tracer bromide component completed. |
· Copper-gold recoveries from lixiviant trials and integration into Scoping Study. |
|
|
TUNGSTEN & MULTI COMMODITIES Molyhil, NT Australia · Successful diamond drilling program completed with all assay submitted for analysis, confirming magnetic target adjacent to deposit is mineralised magnetite skarn. |
· Assay results from diamond drilling program. · Review strategic plans for Molyhil.
|
|
CORPORATE & FINANCE
· Agreement with Power Metal Resources Plc (AIM: POW) to a Variation of Tail Benefit as part of the Sale Agreement of the Pilot Mountain Tungsten Project in Nevada, USA.
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
” The start of 2022 has seen positive progress made across Thor’s projects.
“Our team is back on the ground for the 2022 field season at our 100% owned Ragged Range Project, WA, with a mapping and sampling program currently underway to test potential lithium-caesium-tantalum pegmatite targets associated with the Split Rock Supersuite. Preparations are being finalised to commence the second phase of RC drilling at the Sterling Gold Prospect, with a ground based electromagnetic survey, designed to detect any conductive anomalies at depth that may indicate the presence of nickel sulphide mineralisation, scheduled for May 2022
“In the US, we were delighted to receive approval from San Miguel County for the proposed drill testing at the Wedding Bell Project, Colorado during the period. Preparations are now underway to test the project’s priority areas, Groundhog, Rim Rock and Section 23. Thor’s Board notes the heightened demand for uranium in the US as the country seeks to secure domestic supply in order to replace its reliance on Russian imports.
“At the Alford East copper-gold project, SA, Australia, we reported encouraging results for copper and gold from our first phase of drilling. A second phase of drilling, which will include hydrogeology and hydrometallurgical studies, is now being designed. This program will target further high-grade zones and aid our assessment of the project’s ISR potential.
“After a successful first quarter, Thor looks forward to updating the market on progress made across its portfolio in 2022.”
Photo Plate 1 may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/Maps/AOI-11_798246E_7587303N_b.JPG
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
Ray Ridge, CFO / Company Secretary
Tel: +61 (8) 7324 1935
Tel: +61 (8) 7324 1935
