Thor Mining PLC (THR.ASX.L) FOLLOW UP GOLD SAMPLING AT RAGGED RANGE

PILBARA GOLDFIELDS – FOLLOW UP GOLD SAMPLING AT RAGGED RANGE

The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR) are pleased to advise the completion of the third phase of gold geochemistry reconnaissance at the 100% owned Pilbara Goldfield tenements (E46/1262 and E46/1190) in Western Australia.

The program was designed to follow up previously reported success from stream sediment samples collected across the tenements, which defined a highly anomalous 13km long gold target zone, with gold values up to 256ppb (19PST 19F -AR25) and 130ppb (20PST 24F-BLEG); ( https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200902-asx-rr-gold-sample-results.pdf ).

Highlights:

  • The geochemical program focused on follow up stream sediment gold results, with sampling upstream toward potential source rock, with some additional reconnaissance sampling and one traverse sampled (sediment and rock chip) across the stratigraphy in the anomalous areas (Figure 1).
  • Sampling conducted primarily within the 13 km gold corridor (target zone) trending NW-SE along the mafic/ultramafic thrust faulted contact (Figure 1).
  • The geochemical samples are currently in transit to the Perth laboratory, with assay results anticipated mid-November.
  • The close spaced airborne geophysical survey (airborne magnetics) flown over the full tenure as previously announced is now completed with data processing and modelling underway. ( https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20201006-asx-mag-survey.pdf

Image 2020 10 13 at 8.50.22 AM 250x300 - Thor Mining PLC (THR.ASX.L) FOLLOW UP GOLD SAMPLING AT RAGGED RANGE

Mick Billing, Executive Chairman of Thor Mining, commented:

“We will continue to aggressively work towards drill target selection at Ragged Range, and this sampling program, along with the airborne magnetic survey just completed, is aimed at achieving that objective.”

“We look forward to providing progress updates on Ragged Range, and other projects in the Thor portfolio, as information becomes available.”

Gold Anomalism

Approximately five anomalous sample zones (based on 2019 and 2020 sampling programs) were designated for follow up, with sampling upstream toward potential source rocks. These zones reported either or both of elevated assay gold geochemical anomalism, or gold in the pan. In addition, further reconnaissance sampling was conducted in prospective areas where there were gaps in the data.

Sampling focussed predominately along the 13km long gold target zone trending along the thrust faulted mafic/ultramafic contact.

The program also included one rock chip traverse within the anomalous gold zones, designed to sample across the stratigraphy.

Program detail

The program comprised stream sediment trap site sampling with a 3kg -5mm+2mm fraction (coarse) and a 4kg -2mm fraction (fine) sample collected for geochemical analysis for Au 2kg BLEG (fine fraction), aqua regia (fine and coarse fractions) and multi-element analysis.

As well, a further 10-12 kg sample of -2mm material was collected from the trap site for panning in the field. The benefit of this is that eventually we will have four results for gold, (three from the laboratory plus physical gold in the pan) as well as multi-element results.


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