Thor Mining PLC (THR.ASX.L) Pilbara Goldfield tenements – visible gold

PILBARA GOLDFIELDS RAGGED RANGE PROJECT – VISIBLE GOLD IN FOLLOW-UP SAMPLING

The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR) are pleased to advise visible gold in stream sediment sample panning, from the third phase of gold geochemical sampling carried out earlier this month at the 100% owned Pilbara Goldfield tenements (E46/1262 and E46/1190) in Western Australia.

Field observation highlights:

  • 13 of the 54 stream sediment sites had visible gold in panning (Table A).
  • Sample 20PST 54 and 20PST 84 returned gold in the pan with a maximum of 6 counts (Table A).
  • Visible gold in panning is consistent along the interpreted 13km anomalous gold corridor, trending along the thrust faulted mafic/ultramafic contact.
  • A 1.5km NE-SW traverse across the anomalous gold corridor was completed, with 14 rock chips collected for assay submission. The central portion of the traverse is dominated by Fe-Mn quartz vein/breccia float.
  • Subject to the geochemical results and the modelling of the recently flown airborne magnetic survey, a soil sampling program is proposed over priority targets within the anomalous 13km gold trend to delineate coherent gold trends prior to drill testing.

Image 2020 10 13 at 8.50.22 AM 250x300 - Thor Mining PLC (THR.ASX.L) Pilbara Goldfield tenements - visible gold

Mick Billing, Executive Chairman of Thor Mining, commented:

“Another step closer in the process of narrowing down Ragged Range drill target selection, with visible gold again found in the stream sediment samples consistently along the 13 kilometre corridor of anomalous gold.”

“We look forward to the laboratory assays from this work.”

“We look forward also to receiving the results from and interpretation of the airborne magnetic survey recently completed, and we will keep investors posted with progress.”

Further to the announcement on 13 October 2020, a total of 112 stream sediment samples (20PST 35 to 55, 55A, 56 to 89) were collected from 54 creek sites with both fine (< 2mm) and coarse fractions (>2mm) collected for geochemical analysis, as well as an additional <2mm sample for in-field panning. Samples are now undergoing laboratory analyses with results anticipated in three to four weeks.

The geochemical program was designed to follow up anomalous gold identified in stream sampling programs completed in October 2019 and September 2020, with values up to 256ppb (19PST 19F -AR25) and 130ppb (20PST 24F-BLEG). In addition to the follow up stream samples, reconnaissance stream samples were also collected within the tenure including samples on the granite contact to the north, along with a 1.5km NE-SW rock chip traverse across the interpreted 13km long gold corridor;

( https://www.thormining.com/sites/thormining/media/pdf/ASX-Announcements/20201014-Ragged-Range-Gold-Project-Sampling-Program.pdf ).

Stream Sediment Sampling-Gold Anomalism

Fifty-four (54) sample sites with a total of 112 stream sediment samples were selected for reconnaissance and follow up sampling to the 2019 and 2020 geochemical programs.

A 10-12 kg pan sample of -2mm material was collected and panned at the end of each day. Gold count and description summaries in Table A. A total of 13 out of the 54 samples returned gold in pan with a maximum of 6 colours in samples 20PST 54 and 20PST 84 (Table A). These 13 visible gold samples consistently lie within the anomalous 13km gold corridor along the thrust faulted mafic/ultramafic contact. The presence of visible gold in sample 20PST 58 is a good indicator that the gold corridor is open along strike extending south into application E46/1355 (100% Thor Mining).

The anticipated aeromagnetic data may assist with further delineation of the NE cross cutting structures which may be critical to gold mineralization.

A map showing the project licence area, including the 13 kilometre anomalous gold area, and sample sites highlighting the visible gold sample locations may be viewed via the following link:

www.thormining.com/sites/thormining/media/maps/rr-samples-202010.jpg

ROCK SAMPLING PROGRAM

In conjunction with the stream sediment program a small rock chip sampling program was undertaken in the central gold anomalous catchment zone identified during the past 2019 and 2020 sampling campaigns. A 1.5km traverse trending NE-SW was centred around 780500E/7586000N and up stream of past anomalous stream samples 20PST 14, 24, 29 34, with a total of 14 rock samples (20PST 1 to 14) collected (Table B);

https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200902-asx-rr-gold-sample-results.pdf

Geologically, the eastern portion of the traverse is dominated by a range of low hills of fine grained mafics and pillow lavas. The western portion comprises relatively flatter country with well exposed ultramafics.

In contrast, a wide expanse in the central portion of the traverse is dominated by colluvial material composed predominately of quartz (quartz breccia, quartz with anhedral boxwork, yellow jarositic stained quartz and banded quartz/ironstone material), ironstone (generally massive with some skeletal /spongy textured ironstone), mafic and ultramafic fragments on soil.

The majority of the rock samples collected along the traverse comprised colluvial float/scree material.

The geochemical sampling program (stream sediment and rock chip sampling) was undertaken by George Merhi, Consultant Geologist (AusIMM), of Bann Geological Services Pty Ltd, with over 20 years’ experience in the Pilbara region, under the instruction and on behalf of Thor.

Read More https://www.share-talk.co.uk/announcements/rns/thor-mining-plc/ragged-range-project-follow-up-sampling/202010210715037614C


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned
thr 2 - Thor Mining PLC (THR.ASX.L) Pilbara Goldfield tenements - visible gold
Share via
Copy link
Malcare WordPress Security