Thor Mining PLC (ASX:AIM:THR) Ragged Range Sampling Update

Ragged Range Project, WA

Sampling Update
High-grade Copper and Gold Returned at the Sterling and Kelly’s Prospects

The directors of Thor Mining Plc (AIM, ASX: THR, OTCQB: THORF) are pleased to provide an exploration update on sampling and mapping programs which have been completed at the Company’s 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia.

Project highlights:

§ Three programs of reconnaissance mapping with rock chip and stream sediment sampling completed over the Ragged Range Project.
§ Rock chip sampling over the 13km-long Sterling Prospect returned up to 6g/t Au in rock chip (R00053-Photo 1) along newly identified cross structures that strike oblique to the regional faulted contact – Norman Cairn Fault – between the Dalton Suite and Euro Basalts (Figure 2).
§ At the Kelly’s Prospect, anomalous gold (up to 1.46g/t) and copper (4.8% Cu) have been identified along the northwest trending, 1.2km long x 25m wide ridge at the contact of Euro Basalt and Boobina Porphyry (Figure 2).
§ Heritage Survey with the Nyamal Native Title group was completed over the Kelly’s Prospect in preparation for drill testing.
§ Geological mapping and sampling will continue over the Project as the Company validates its structural and mineralising geological models.
§ All samples from the recently completed RC drilling program have now been received by the laboratory, and the Company awaits assay results.

Nicole Galloway Warland, Managing Director of Thor Mining, commented:

“These latest highly encouraging sampling results, including high-grade copper and gold, from three consecutive programs at Ragged Range continue to build on and develop our geological understanding, with particular emphasis on structural controls on mineralisation at both the Sterling gold prospect and Kelly’s copper-gold prospect.

“Sampling is to continue with an airborne magnetics survey over the Kelly’s copper-gold prospect and the north-eastern portion of the tenure scheduled for late July, to assist with lithological and structural interpretations.”

Figure 1: Ragged Range Tenement Location Map showings priority prospects may be viewed via the following links:

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).

Sampling Programs

In parallel with the recently completed RC drilling at the Sterling and Krona Prospects (AIM:THR 11 July 2022), three rock chip and stream sediment sampling programs across the Ragged Range Project area have been undertaken.

The geological mapping and sampling programs were designed to:

§ Further develop and validate Thor’s geological model by identifying key mineralising structures and gold distribution at the Sterling prospect.

§ Sample historic copper working at Kelly’s Prospect to gain a greater understanding of the controlling structures, the tenor of gold mineralisation associated with the visible copper and /or geochemical lithological boundaries.

§ Review lithological boundaries and potential alteration signatures using newly-acquired ASTER data.

§ Identify potential outcropping lithium-caesium-tantalum (LCT) enriched pegmatites.

97 rock chip samples and 24 stream samples were collected in total (of which 57 rock chips and 12 stream sample results have been received back from the laboratory to date), highlighting significant gold and copper mineralisation and assisting with the structural interpretation of key controlling structures at Sterling and Kelly’s Prospects (Figure 2 and Table X).

No outcropping LCT-enriched pegmatites have been identified to date, however, lithium exploration will continue with stream and soil sampling within the 10km goldilocks zone around the prospective Mondana Monzogranite, part of the Split Rock Supersuite. Encouraging anomalous pathfinders in some samples warrant further investigation.

Photo 1: Rock chip sample R0053- quartz vein in sheared and foliated ultramafics may be viewed via the following link:–sheared-quartz-vein-in-sheared-and-foliated-ultramaficR000053.JPG

Figure 2: Sample location map may be viewed via the following link:

Table X: Significant samples above 0.1g/t Au and 0.6% Cu

Project – GDA94 Zone 50

Sterling Prospect

The focus to date at Sterling Prospect has been on the 13km gold corridor defined by stream and soil samples along the north-northwest thrust faulted contact between the Dalton Suite ultramafics and the Euro Basalt (Norman Cairn Fault). After a detailed geological and structural review of the complex folding and faulting within the ultramafics and basalts by consultant geologist Jennifer Gunter, Virga Consulting Pty Ltd, several priority areas and potential dilutional zones have been highlighted, warranting ground truthing, sampling, and follow up drill testing (Figure 3). Close to one of these new structural target areas (called R27), a coarse stream sediment sample (ST0002) reported 0.98g/t Au with one grain of gold noted in the pan. This target and others were tested as part of the recently completed RC drilling program (AIM: THR 11 July 2022).

The 6g/t Au sample (R00053- Photo 1) lies within the “Kink zone”: in Central Sterling, an area of complex faulting and significant dilation. This gold sample was collected within an outcropping quartz breccia vein associated with an oblique fault system to the regional Norman Cairn Fault (Figure 2 and 3).

Figure 3: Faulting and folding structural interpreation overlaying landsat image may be viewed via the following link:

Kelly’s Prospect

The Kelly’s Prospect consists of a few small, high-grade historic copper workings; these appear to be associated with shear zones cross cutting the northwest trending Boobina Porphyry/Euro Basalt boundary (Figure 1).
At Kelly’s Mine, historic production1 between 1955-1970, although small, was of very high grade – 610t of ore averaging 19.47% Cu (Figure 1 and Photo plate 2).

Exploration to date has been sporadic, with no systematic approach over the area. Thor’s sampling program to date has targeted areas along strike of known mineralisation, zones of alteration, shears/faults and zones of brecciation, including sampling along the northwest trending, 1.2km long x 25m wide ridge between Euro Basalt and Boobina Porphyry (Photo 2). Both anomalous gold (up to 1.46g/t) and copper (up to 4.28% Cu) have been identified.

A Heritage Survey with the Nyamal Native Title Claimant Group was completed over the Kelly’s Prospect in early July in preparation for drill testing.

Photo 2: Kelly’s Prospect looking southeast showing ridge between Boobina Porphyry and Euro Basalt–kellys-prospect-.jpg

Next Steps:

§ Await RC drilling assay results – anticipated in August – September.

§ Downhole Electromagnetic Survey (DHEM) on Krona drillhole.

§ Airborne magnetic survey over the north-eastern portion of tenure, scheduled for late July.

§ Continue to review and model historic data over the Kelly’s area in preparation for drill testing.

§ Await the full set of rock chip sample data, especially covering the Kelly’s South ridge where 1.46g/t Au was reported.

§ Continue reconnaissance sampling over ground in the northern portion of tenure for prospective lithium-caesium-tantalum enriched (LCT) pegmatites.


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 Tel: +61 (8) 7324 1935

Ray Ridge, CFO / Company Secretary Tel: +61 (8) 7324 1935

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