The Directors of Thor Mining PLC (AIM, ASX: THR) are pleased to announce the release of the Company’s annual report for the year ended 30 June 2020.
The Company’s annual report was also today lodged with the Australian Stock Exchange (“ASX”) as required under the listing rules of the ASX. A copy of the annual report will be posted to shareholders today and is also available on the Company’s website www.thormining.com
The Company also advises that an ASX Appendix 4G (Key to Disclosures: Corporate Governance Council Principles and Recommendations) and its 2020 Corporate Governance Statement have been lodged with the ASX today and will shortly be available on the Company’s website: www.thormining.com
QUARTERLY REPORT JULY TO SEPTEMBER 2020
Outlook for December Quarter 2020
Ragged Range, Pilbara region, WA Australia
· Geochemical sampling delineates 13 km anomalous gold trend
· Airborne magnetic survey completed Oct ’20.
· Historic data review identifies widespread gold anomalism consistent with the 13 km trend of gold anomalism.
· Gold assays from field sampling
· Airborne magnetic survey interpretation
· Drill program planning.
Kapunda, SA Australia
· Positive results from initial hydrogeological testing program
· Successful copper production demonstrated via each of ion exchange, cementation, and electro-winning.
· Commencement of large particle column leach testing.
· Additional borehole hydrogeological testing
· Geotechnical drilling allowing gold testing
· Site Environmental Lixiviant Test (SELT) commencement.
URANIUM & VANADIUM USA
· Completion of acquisition of Uranium & Vanadium interests in Colorado & Utah USA
· High grade uranium and vanadium assays results from Colorado claims.
· Planning & permitting for initial drill testing of the Colorado claims.
TUNGSTEN & MULTI COMMODITIES
Molyhil, NT Australia
· Molyhil granted Major Project Status with NT government.
· Ongoing discussions with Australian government agencies mandated to assist Australian critical minerals projects
· Continued discussions with potential Molyhil project financiers and off-take partners.
Pilot Mountain, Nevada USA
· Ongoing discussions with various US parties aimed at securing specific investment to progress this project.
· Continuing discussions with US parties to secure project investment.
CORPORATE & FINANCE
· Strategic placing raises UK£1,065,500 (approx A$1,875,000) before expenses
· Board & Management Changes
· Appointment of Mark McGeough as non-executive director
· Resignation of Richard Bradey – executive director & exploration manager
· Appointment of Nicole Galloway Warland as exploration manager
Mr Mick Billing, Executive Chairman, commented:
“Very positive progress on core projects during the quarter with significant advances at Ragged Range gold project in particular.”
“We look forward to the assays from the latest field sampling exercise, and also to receiving the data and images from the recently completed airborne magnetic survey.”
“A period of active field work is also about to start at the Kapunda ISR copper project with field SELT trials aimed at recovering copper and gold in the deposit scheduled to commence, along with further hydrogeological work, and some testing aimed at providing better definition of gold potential “
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