Mr Mick Billing, Executive Chairman, commented: We welcome the consistent flow of positive news from the Big Sandy drilling program noting that the program is continuing.
“The program continues to improve the prospects for Big Sandy and the value of our Hawkstone investment, and we look forward to the balance of the drilling results, and also to the maiden resource estimate, scheduled for late September 2019.”
The Board of Thor Mining Plc (“Thor”) (AIM, ASX: THR) is pleased to advise further positive drilling results at the Big Sandy Deposit in Arizona USA, by Hawkstone Mining Limited (“Hawkstone”) (ASX: HWK).
Hawkstone, the 100% owner of the Big Sandy project, has released results from a further eight holes of its 37-hole Phase 2 diamond drill programme at its Big Sandy Lithium-Clay Project, located in Arizona USA on 10 July 2019, and on 23 July 2019. The final three holes of the program are reported to be in progress.
Hawkstone Managing Director Paul Lloyd commented on the results released on 23 July 2019 “Hawkstone’s Big Sandy project has continually delivered exceptional results as the Company has successfully progressed through the 37-hole diamond drill program. High-grade intercepts have continued, and the assay results from these latest 4 diamond drill holes further demonstrate the significant potential of the Big Sandy project. The Hawkstone board looks forward to updating the market regarding assay results from the final 3 diamond drill holes before progressing to its maiden JORC Resource in late September 2019.”
Thor holds 7,421,875 ordinary shares in Hawkstone (representing 1.075% of its issued share capital). Thor shall be allotted a further 7,812,500 ordinary shares in Hawkstone if Hawkstone reports, by September 2021, a mineral resource estimate, on the Big Sandy deposit, of at least 30 million tonnes at a grade of over 2,000ppm Lithium (Li), using a lower cutoff grade of 1,000ppm Li.
The latest Hawkstone announcements, of 23 July 2019 and 10 July 2019, may be found on the ASX website via the following links:
https://www.asx.com.au/asxpdf/20190723/pdf/446t060f4jmp2q.pdf
https://www.asx.com.au/asxpdf/20190710/pdf/446ht7tjr4tbqd.pdf
Information about Hawkstone and its Big Sandy project can be found at Hawkstone’s website, http://hawkstonemining.com.au/.
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
