Ragged Range Project, WA
Electromagnetic Conductor identified beneath Nickel Gossan
The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR, OTCQB: THORF) are pleased to announce that the recently completed electromagnetic geophysics survey over the nickel gossan at the Krona Prospect identified a conductive anomaly at the Company’s 100% owned Ragged Range Project, located in the Eastern Pilbara, Western Australia.
Project highlights:
· A high-powered Fixed Loop Electromagnetics (FLEM) ground geophysics survey has identified a shallow conductor beneath the nickel gossan at the Krona Prospect (Figure 1 and Figure 2).
· The conductor is consistent with sulphides and warrants drill testing to validate.
· The nickel gossan is located at the basal contact of the Dalton Suite ultramafic unit (altered Archean Komatiite) in the classic location for nickel-copper sulphide mineralisation.
· The shallow conductor will be drill tested including downhole EM, as part of the upcoming reverse circulation (RC) drilling program scheduled to commence next week at the Sterling Gold Prospect.
Photo of the FLEM crew carrying out survey may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/Maps/flem-crew.jpg
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
“I am encouraged that the first ground geophysics survey at Ragged Range has identified a shallow electromagnetic conductor. The target is modelled at around 100m below the surface, establishing it a clear drill target for the upcoming RC drilling program.
“We look forward to drill testing this anomaly as part of our RC drilling program, scheduled to commence at Sterling Prospect next week.”
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)).
Figure 1: Tenement Location Plan overlying GSWA 1:500k geology showing the gossan position, Krona Prospect adjacent to the Sterling prospect 13km gold trend may be viewed by the following link:
http://www.thormining.com/sites/thormining/media/maps/tenure_krona-prospect.jpg
Krona Prospect – Nickel Gossan
A high-powered Fixed Loop Electromagnetics (FLEM) ground geophysics survey was completed over the Krona Prospect, covering the full extent of the nickel gossan, located in the western portion of the tenure (Figures 1 and 2). This is the first ground geophysics survey on the Ragged Range Project. The survey over the gossan was designed to detect conductive anomalies at depth that may indicate the presence of massive nickel-copper sulphide mineralisation to constrain initial drill testing.
A single loop FLEM survey over the Krona prospect identified a conductor at the southern end of the gossan (Figure 2). The conductor was modelled as a shallow flat lying feature approximately 100m deep (Figure 3) and is consistent with sulphides. The shallow (100m) conductor gives Thor a clear drill target, that will be drill tested as part of the upcoming RC program at the adjacent Sterling Prospect (Figure 3).
The gossan was initially identified by the Western Australian Geological Survey on the Split Rock 1:100K mapping explanatory notes (Bagas et al., 2004). The gossan extends over 1km x 100m and lies on the basal contact of the Dalton Suite ultramafics, with the older Wyman Formation, felsic volcanics.
Figure 2: FLEM survey showing EM conductor overlain on the 100K GSWA Geology may be viewed via the following link:
http://www.thormining.com/sites/thormining/media/maps/kronaem_fig.png
Figure 3 : 3D modelled conductor may be viweded via the following link:
http://www.thormining.com/sites/thormining/media/maps/3d-modelled-conductor.jpg
Next Steps
- Commence RC drilling program at Sterling Prospect following up on structurally controlled anomalous gold in streams and soils.
- Drill test EM conductor at Krona Prospect as part of RC drilling program, with downhole EM.
- An Airborne magnetic/radiometric survey, scheduled to be flown over the eastern portion of the tenure (including E46/1340 and E46/1393) in the near future.
- Continue regional exploration, focusing on both lithium priority areas and the copper-gold historic workings in the northeastern portion of tenure.
References:
· Bagas et al., 2004. Geology of the Spilt Roc 1:100,000 Sheet. 1:00,000 Geological Series. Geological Survey of Western Australia
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
Competent Persons Report
The information in this report that relates to Geophysical Exploration Results is based on information compiled by Kim Frankcombe, a Competent Person who is a Member of The Australian Institute of Geoscientists. Mr Frankcombe is employed as a Consultant to the Company through geophysical consultancy. Mr Frankcombe has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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’. Mr Frankcombe consents to the inclusion in the report of the matters based on his information and the form and context in which it appears.
The information in this report that relates to Geological interpretation and 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, which includes a facility to register to receive these updates by email, and on the Company’s Twitter page @ThorMining.
