The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR, OTCQB: THORF) are pleased to provide an exploration update for the Ragged Range Project, located in the eastern Pilbara, Western Australia.
Project highlights:
- Completion of the 2,000m reverse circulation (“RC”) drilling program at Kelly’s Prospect, Ragged Range.
- Six holes tested the Kelly’s Ridge area following up on rock chip samples returning up to 15.5 g/t Au and 535g/t Ag, and a historic drill intercept of 1.5m @ 22.97g/t Au (DDHK2 drilled in 19691).
- Two holes were drilled beneath the high-grade Kelly’s historic copper workings, testing potential chalcopyrite extensions at depth (historic production: 609t of cupreous ore with a grade of 19% Cu, mined 1955-1970).
- Two holes tested a new conceptual target called Kellys NE.
- RC drilling at the Sterling Prospect has returned anomalous gold results up to 6m @ 0.2g/t Au from 83m (22RRC010) associated with extensive sericite-sulphide alteration.
http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
Photo 1: Drilling at Kelly ‘ s Ridge Prospect, Ragged Range
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
“We are pleased to report that the 2,000m drilling program at the Kelly’s Prospect, Ragged Range is now complete. The program was designed to follow up on prospective rock chip samples, including a high-grade, historic drill intercept. We look forward to reporting the results of the program in due course.
“Drilling at Sterling has highlighted several zones of intense alteration with anomalous gold warranting detailed structural mapping and sampling, including veining associate with the 6g/t rock chips at Sterling central “Kink” area.”
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 E46/1393 – Figure 2 and Figure 3).
http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
Figure 1: Location Plan
Kelly’s Prospect
A small, 10-hole RC drilling program was completed at the Kelly’s Prospect, testing Kelly’s Ridge, Kelly’s Copper and Kelly’s NE areas.
Drilling at Kelly’s Ridge was designed to test below the high-grade rock chips returning up to 15g/t Au and 535g/t Ag along the 1 km silicified ridge at the contact between the Boobina Porphyry and Euro Basalt and to also test below and along strike of the historic drill hole (DDHK2), that reported 1.5m @ 22.97g/t gold located at the porphyry-basalt contact.
Two historic copper mines were worked on at either end of the Boobina Porphyry/Euro Basalt contact; Copper Hills (which produced 15,730t of cupreous ore with a grade of 13% Cu, mined in 1952-1963)3 and Kelly’s (which produced 609t of cupreous ore with a grade of 19% Cu, mined in 1955-1970).
The north-north-west trending mineralisation at Kelly’s Copper Mine, extending over 600 metres, is developed in quartz veins along shears, cutting the Boobina Porphyry. The oxidised zone contains malachite, azurite, cuprite, chrysocolla, with bornite and chalcocite in the supergene zone, and pyrite and chalcopyrite in quartz- sericite-chlorite alteration at depth.
Two drillholes were positioned to drill beneath these historic high-grade workings to provide a representative sample of mineralisation, rock types, and alteration. The holes extended through the volcanic porphyries into the basalt, testing the contact at depth for primary sulphide copper mineralisation (chalcopyrite).
http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
Figure 2: Kelly’s Prospect, highlighting drill collars and gold in rock chips.
http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
Figure 3: Kelly’s Ridge cross section, showing drill collars, historic drill intercept and high-grade rock chip
Sterling Prospect
In July 2022, 48 drillholes totalling 3,120m were drilled along the Sterling Prospect 13km structural gold corridor, testing interpreted dilational zones (potential trap sites for mineralisation and the potential source of the gold anomalies found in stream and soil samples) (ASX/AIM: 11 July 2022).
Drilling intercepted key zones of sericite-sulphide-quartz alteration, with anomalous gold up to 6m @ 0.16 g/t Au at the southern end of the prospect (Table A, Figures 4 – 6). Although the tenure of the gold result is low these results demonstrate gold is present in the system and warrant following up with detailed structural and geochemical mapping.
Table A : Sterling Prospect Drilling -All Significant Gold Intercepts above 0.1g/t Au
(refer to Table B for list all Drill Collar information)
http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
Figure 4: Sterling Prospect Drill traverse
http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
Figure 5: Sterling Prospect showing drilling in the south area refereed to as R27and location of cross sections
http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
Figure 6: Cross sections showing anomalous gold intercepts associated with high arsenic and ferruginous quartz vein at surface
http://www.rns-pdf.londonstockexchange.com/rns/1078E_1-2022-10-25.pdf
Photo 2: 22RRC010 drill spoils showing the strong ‘white’ sericite altered zone from approximately 73m with gold – 6m @ 0.2g/t Au from 83m with Euro basalt
Next Steps
The following activities and results at Ragged Range are anticipated over the coming weeks:
1. Report assay results from the Kelly’s drilling program
2. Report Platinum Group Elements (PGE) results from the Krona Nickel Drillhole – 22RRC045 – associated with the 66m @ 0.2% Ni from 81m (ASX/AIM: 20 September 2022)
3. Continue regional exploration, including reconnaissance sampling over ground in the northern portion of tenure for prospective lithium-caesium-tantalum enriched (LCT) pegmatites
References:
1. DDHk2, drilled by Hawkstone 1969, Open File Annual Report
2. Kelly’s: produced 609t of cupreous ore with a grade of 19% Cu, mined 1955-1970. https://www.mindat.org/loc-122951.html
3. Copper Hill: produced 15,730 t of cupreous ore with a grade of 13% Cu, mined 1952-1963
https://www.mindat.org/loc-122950.html
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
