Thor Mining PLC (ASX:LON:THR) Preliminary White Violet Drilling Results – Bonya

PRELIMINARY DRILLING RESULTS AT WHITE VIOLET – BONYA PROJECT

The Board of Thor Mining Plc (“Thor”) (AIM, ASX: THR) is pleased to advise positive preliminary results from the second round of drilling at the Bonya project White Violet deposit, adjacent to the Company’s 100% owned Molyhil project, in the Northern Territory of Australia.

The Bonya project is held in joint venture between Arafura Resources Limited (60%) and Thor (40%) with Thor acting as manager, and each party contributing to the cost according to their equity.

A total of 11 holes were drilled at White Violet to complete the program for that deposit.  The drill rig has now moved to the Samarkand deposit for the 2nd part of the program.

The following results obtained via portable X-Ray Fluorescence (“XRF”) determination should be considered preliminary and subject to confirmation by subsequent geochemical analysis. The geochemical analysis results may vary from those obtained from XRF.

Highlights:

·    20 metres @ 0.24% WO3 (tungsten tri-oxide) from 2 metres, including 8 metres @ 0.38% Cu (copper) from 3 metres from hole 19RC034

·     8 metres @ 0.24% WO3 from 26 metres from hole 19RC035

·     14metres @ 0.23% WO3 from 65 metres and 8 metres @ 0.63% Cu from 62 metres from hole 19RC037

·     2 metres @ 0.71% WO3 from 11 metres and 5 metres @ 0.33% WO3 from 17 metres from hole 19RC039

·     Tungsten-bearing mineralisation extended by 40 metres to both the east and west with a total strike length of 120 metres and vertical depth of 110 metres.

Mr Mick Billing, Executive Chairman, commented: 

“It is very exciting to have confirmation of both consistency of mineralisation and extensions to strike at the White Violet deposit.”

“Tungsten grades continue to be positive, and it is also pleasing to see further evidence of copper mineralisation.”

“The key Thor driver for drilling at Bonya is to add to the Molyhil area mining inventory with an objective of a minimum of ten years total open pit mining and processing.  These results, subject to assay and follow up resource work, should, we expect, go quite some way towards meeting that objective.”

Drilling has been completed at White Violet and is now in progress at the Samarkand deposit. The White Violet preliminary XRF results are summarised for each hole in Table A.  Preliminary results for Samarkand will be announced as they become available.

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Table A: Summary of White Violet preliminary XRF results

Hole ID

Prospect

East

GDA94 Zone53

North GDA94 Zone53

Elev ASL (m)

Azi

Dip

Depth (m)

Preliminary XRF Intercept summary

Est true width (m)

19RC034

White Violet

609,684

7,486,03

403

192

-45

51

20m @ 0.24% WO3 from 2m including
8m @ 0.38% Cu from 3m

17m
6m

19RC033

White Violet

609,693

7,486,068

403

192

-70

178.2

2m @ 0.11% WO3 from 136m and
2m @ 0.16% WO3 from 144m and
1m @ 0.58% WO3 from 156m

1.5m
1.5m
0.6m

19RC035

White Violet

609,663

7,486,045

401

192

-50

81

11m @ 0.19% WO3 from 1m and
4m @ 0.11% WO3 from 15m and
8m @ 0.24% WO3 from 26m

8m
2.5m
6m

19RC036

White Violet

609,665

7,486,062

400

192

-65

138

4m @ 0.52% WO3 from 51m and
11m @ 0.11%WO3 from 60m and
5m @0.15% WO3 from 85m and
8m @ 0.33% WO3 from 115m and
3m @ 0.5% WO3 from128m

2.5m
7m
3m
6m
2m

19RC037

White Violet

609,641

7,486,070

397

192

-65

96

14m @ 0.23% WO3 from 65m and
8m @ 0.63% Cu from 62 m

9m
5.5m

19RC042

White Violet

609,710

7,486,033

406

192

-50

60

18m @ 0.26% WO3 from 18m

15m

19RC038

White Violet

609,713

7,486,047

406

192

-60

93

3m @ 0.45% WO3 from 42m and
1m @ 0.62% WO3 from 50m and
4m @ 0.23% WO3 from 55m

2m
0.5m
2.5m

19RC039

White Violet

609,732

7,486,026

409

192

-55

42

2m @ 0.71% WO3 from 11m and
5m @ 0.33% WO3 from 17m

19RC040

White Violet

609,757

7,486,026

409

192

-55

48

1m @0.47% WO3 and 2.2% Cu from 22m

0.5m

19RC041

White Violet

609,782

7,486,031

408

192

-55

30

no significant intercept

19RC043

White Violet

609,640

7,486,069

397

192

-45

52

no significant intercept

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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