TIDMTHR
RNS Number : 1986T
Thor Mining PLC
23 November 2021
23 November 2021
Thor Mining PLC
Over 45m of Tungsten-Molybdenum-Copper Mineralisation
Intercepted
Molyhil Project, Northern Territory
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB:
THORF) are pleased to announce that the second hole in the diamond
drilling program (21MHDD002) intercepted scheelite, molybdenite and
chalcopyrite mineralisation within a magnetite skarn, at the
Molyhil tungsten-molybdenum-copper Project in the Northern
Territory.
Project highlights:
-- 21MHDD002 intercepted over 45m of disseminated
scheelite-molybdenite-chalcopyrite mineralisation in a massive
magnetite-rich skarn.
-- Drilling confirms that the newly identified magnetic target
to the south of the Molyhil deposit is a continuation (possibly
offset) of the Molyhil deposit tungsten-molybdenum-copper
mineralisation.
-- Based on the success of the second drillhole, a third hole is
now underway, designed to target the projection of the 21MHDD002
mineralisation down plunge.
Photo 1: A photo of 21MHDD002 (275.4m) - massive magnetite skarn
with disseminated scheelite and molybdenite mineralisation and
bands of chalcopyrite may be viewed by the following link:
https://www.thormining.com/sites/thormining/media/maps/p1000233.jpg
Nicole Galloway Warland, Managing Director of Thor Mining,
commented:
"We are excited to be sharing this new discovery at our Molyhil
critical metals project.
Testing a new geological concept, in this case an interpreted
magnetic target from 3D modelling to the south of existing
mineralisation, has paid off significantly. The
tungsten-molybdenum-copper mineralisation is open to the south and
the third hole is designed to test this south plunging model.
The extension of this mineralisation, directly south of the
deposit, in a previously untested area, is pivotal to the overall
Molyhil project. We look forward to updating shareholders as more
information becomes available."
Diamond Drilling Program
During a 3D geological and geophysical modelling exercise
completed in March-April 2021 a potential extension to the known
Molyhil tungsten-molybdenum-copper mineralisation was defined by a
large magnetic target (Figure 2 and 3). It was noted that previous
drilling in this area had not tested the newly identified magnetic
body.
Two drillholes (21MHDD001 and 21MHDD02) of the planned diamond
drilling program are near complete and based on the success of the
second hole a third hole is now underway (DD hole C) (See Table A
and B and Figure 1 and 2).
21MHDD002 intercepted over 45m of disseminated mineralisation,
consisting of scheelite-molybdenite and chalcopyrite within massive
magnetite skarn from 249.7m (Photo 1 and 2). It appears 21MHDD001
hit the edges of the magnetite skarn however, with negligible
mineralisation. Initial interpretation of data highlights a
potential south plunging lode extending south of the Southern lode
with a possible offset (yet to be determined) (Figure 2).
The 3D geological modelling of the Molyhil deposit identified
two prominent structures - Yacht Club fault and South Offset fault
(Figure 1 and 2). Based on the geological timing of these faults,
they appear to have had a significant impact on mineralisation,
such as offsetting the Yacht Club mineralisation from the Southern
Lode, hence creating targets for potential extensions. Modelling of
the South Offset Fault, relative to the magnetics, strongly implies
an offset of the magnetic material (interpreted to be magnetite
skarn) host to the tungsten-molybdenum-copper mineralisation, south
of the South Offset fault.
Diamond drilling is being carried out by Durock Drilling Pty Ltd
and is anticipated to take approximately one week to complete hole
3. Thor expects to receive assay results back in the first quarter
of 2022.
The drilling program is co-funded by the Geophysics and Drilling
Collaborations (GDC) program as part of the Resourcing the
Territory initiative, with Thor Mining granted A$110,000 (AIM: THR
4 June 2021).
Photo 2: A photo of 21MHDD002 (272.2 - 275.7m) - massive
magnetite skarn with disseminated scheelite and molybdenite
(metallic silver mineralisation and bands of chalcopyrite (yellow),
may be viewed by the following link:
https://www.thormining.com/sites/thormining/media/maps/p1000228.jpg
Figure 1: Plan view, looking down at the conceptual pit shell
(brown), with the 0.3% WO(3) isosurface in blue, 0.15% Mo
isosurface in silver, and modelled 3D magnetics in transparent red.
The yellow dashed line shows the location of the long section
(Figure 3). 21MHDD001 and 21MHDD002 completed with DD Hole C
underway. The image may be viewed by the following link:
https://www.thormining.com/sites/thormining/media/maps/plan-view.jpg
Figure 2: Long section of the Molyhil project looking
west-northwest, showing two drilled holes and a third planned hole.
Drilled holes, 21MHDD001 and 21MHDD002, were targeted into the
magnetic anomaly where it appears offset at depth by faulting. The
next planned hole, DD Hole C, is planned to intersect the
geological plunge of the mineralised intercept in 21MHDD002. The
conceptual pit shell is shown in brown, 0.3% WO(3) isosurface in
blue, 0.15% Mo isosurface in silver, and modelled 3D magnetics in
red (0.175 SI), and as a transparent red envelope (0.15 SI) and a
conceptual shape representing the down-plunge mineralised zone in
yellow.
The image may be viewed by the following link:
https://www.thormining.com/sites/thormining/media/Maps/section-view.jpg
Project Background
The Molyhil deposit is located 220 kilometres north-east of
Alice Springs (320 km by road) within the prospective polymetallic
province of the Proterozoic Eastern Arunta Block, in the Northern
Territory (Figure 3).
In April 2021 (AIM: THR 8 April 2021) a revised Mineral Resource
estimate comprising Measured, Indicated, and Inferred Mineral
Resources, totalling 4.4 million tonnes at 0.27% WO(3) (Tungsten
trioxide), 0.10% Mo (Molybdenum), and 0.05% Cu (Copper) using a
0.07% WO(3) cut-off.
https://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf
Figure 3: The Tenement & Prospect Location Plan may be
viewed by the following link:
https://www.thormining.com/sites/thormining/media/maps/molyhilmap.jpg
Table A: Drill Hole Collar Summary
DRILLHOLE EASTING NORTHING ELEVATION AZIMUTH DIP EOH
21MHDD001 577207 7482773 409 262 60 324.5
-------- --------- ---------- -------- ---- --------------
21MHDD002 577220 7482774 409 278 60 TBA
-------- --------- ---------- -------- ---- --------------
DDH Plan
C 577069 7482780 412 082 87 340 (Planned)
-------- --------- ---------- -------- ---- --------------
Coordinates in GDA 94 Zone 53
Table B: Geology
DRILLHOLE GEOLOGY FROM (M) TO (M) DOWNHOLE INTERCEPT
(M)
21MHDD001 Calc-Silicate 159.1 255.8 96.7
----------------- --------- ------- -------------------
21MHDD002 Magnetite Skarn 249.7 296.6 46.9
----------------- --------- ------- -------------------
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
This announcement is authorised for release to the market by the
Board of Directors.
- Ends -
For further information on the Company, please visit
www.thormining.com or contact the following:
Thor Mining PLC
Nicole Galloway Warland, Managing Director Tel: +61 (8) 7324 1935
Ray Ridge, CFO / Company Secretary Tel: +61 (8) 7324 1935
WH Ireland Limited (Nominated Adviser and Tel: +44 (0) 207 220 1666
Joint Broker)
Jessica Cave / Darshan Patel / Megan Liddell
Jasper Berry (Corporate Broking)
Tel: +44 (0) 1483 413
SI Capital Limited (Joint Broker) 500
Nick Emerson
Yellow Jersey (Financial PR) thor@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004 9512
Competent Persons Report
The information in this report that relates to Exploration
Results and the Estimation and Reporting Molyhil Mineral Resource
Estimation is based on information compiled by Nicole Galloway
Warland, who holds a BSc Applied geology (HONS) and who is a Member
of The Australian Institute of Geoscientists. Ms Galloway Warland
is an employee of Thor Mining PLC. She has sufficient experience
which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which she is
undertaking to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. Nicole Galloway
Warland consents to the inclusion in the report of the matters
based on her information in the form and context in which it
appears.
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 .
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR; OTCQB: THORF) is a diversified
resource company quoted on the AIM Market of the London Stock
Exchange, ASX in Australia and OTCQB Market in the United
States.
The Company is advancing its diversified portfolio of precious,
base, energy and strategic metal projects across USA and Australia.
Its focus is on progressing its copper, gold, uranium and vanadium
projects, while seeking investment/JV opportunities to develop its
tungsten assets.
Thor owns 100% of the Ragged Range Project, comprising 92 km(2)
of exploration licences with highly encouraging early-stage gold
and nickel results in the Pilbara region of Western Australia, for
which drilling is currently underway.
At Alford East in South Australia, Thor is earning an 80%
interest in copper-gold deposits considered amenable to extraction
via In Situ Recovery techniques (ISR). In January 2021, Thor has
announced an Inferred Mineral Resource Estimate of 177,000 tonnes
contained copper & 71,000 oz gold(1).
Thor also holds a 30% interest in Australian copper development
company EnviroCopper Limited, which in turn holds rights to earn up
to a 75% interest in the mineral rights and claims over the
resource on the portion of the historic Kapunda copper mine and the
Alford West copper project, both situated in South Australia, and
both considered amenable to recovery by way of ISR.(2)(3)
Thor holds 100% interest in two private companies with mineral
claims in the US states of Colorado and Utah with historical
high-grade uranium and vanadium drilling and production
results.
Thor holds 100% of the advanced Molyhil tungsten project,
including measured, indicated and inferred resources , in the
Northern Territory of Australia, which was awarded Major Project
Status by the Northern Territory government in July 2020.
Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in
deposits of tungsten, copper, and vanadium, including Inferred
resource estimates for the Bonya copper deposit, and the White
Violet and Samarkand tungsten deposits.
Notes
(1)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210127-maiden-copper.gold-estimate-alford-east-sa.pdf
(2)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(3)
www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(4)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20210408-molyhil-mineral-resource-estimate-updated.pdf
(5)
www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
Compliance with the JORC Code Assessment Criteria
The JORC Code (2012) describes a number of criteria, which must
be addressed in the documentation of Mineral Resource estimates,
prior to public release of the information. These criteria provide
a means of assessing whether or not the data inventory used in the
estimate is adequate for that purpose. The resource estimate stated
in this document was based on the criteria set out in Table 1 of
that Code. These criteria have been discussed in the main body of
the document and are summarised below. Only sections relevant to
the reported resource have been addressed. The JORC Code Assessment
Criteria in the following table are italicised.
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling -- Nature and quality of sampling (eg cut channels, -- Report refers to visual geological
techniques random chips, or specific specialised industry logging only
standard measurement tools appropriate to the -- Drilling was conducted by Durock Drilling
minerals under investigation, such as down Pty Ltd
hole gamma sondes, or handheld XRF instruments, -- Core to be cut for sample preparation
etc). These examples should not be taken as -- pXRF taken every 0.5m down hole
limiting the broad meaning of sampling. -- Magnetic susceptibility recorded every
-- Include reference to measures taken to ensure 0.5m down hole
sample representivity and the appropriate calibration -- UV light used for tungsten/scheelite
of any measurement tools or systems used. visual estimates
-- Aspects of the determination of mineralisation
that are Material to the Public Report.
-- In cases where 'industry standard' work
has been done this would be relatively simple
(eg 'reverse circulation drilling was used
to obtain 1 m samples from which 3 kg was pulverised
to produce a 30 g charge for fire assay').
In other cases more explanation may be required,
such as where there is coarse gold that has
inherent sampling problems. Unusual commodities
or mineralisation types (eg submarine nodules)
may warrant disclosure of detailed information.
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Diamond drilling
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or * 21MH001 - HQ 0-20m followed by NQ2
other type, whether core is oriented and if so, by
what method, etc).
* 21MHDD02 HQ
* Oriented core
Drill sample
recovery * Method of recording and assessing core and chip * Recovery from diamond core was recorded for all core
sample recoveries and results assessed. runs, with overall recovery very good. All diamond
core was oriented where possible.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Diamond core was reconstructed into continuous runs
for orientation marking with depths checked against
core blocks.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse * No relationship was noted between recorded sample
material. recovery and grade.
Logging
* Whether core and chip samples have been geologically * All holes were field logged by company geologists to
and geotechnically logged to a level of detail to a high level of detail.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Core was oriented and routinely logged for RQD,
alpha/beta angles, dips, azimuths, and true dips.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
* All drill samples were logged for lithology, rock
type, colour, mineralisation, alteration, and
* The total length and percentage of the relevant texture. It has been standard practice by Thor (since
intersections logged. 2005), that all diamond core be routinely
photographed.
* All drill holes were logged in full.
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * Diamond core to be cut in half using a core saw with
and sample half or all core taken. half core submitted for assay.
preparation
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples.
* Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
Quality of
assay data * The nature, quality and appropriateness of the * Core currently be prepared for cutting - half core -
and assaying and laboratory procedures used and whether prior to submission to laboratory.
laboratory the technique is considered partial or total.
tests
* Magnetic susceptibility recorded every 0.5m down
* For geophysical tools, spectrometers, handheld XRF hole.
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their * pXRF recording recorded every 0.5m down hole.
derivation, etc.Ba, Mo
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
Verification
of sampling * The verification of significant intersections by * No assay data reported - samples being prepared for
and assaying either independent or alternative company personnel. laboratory submission
* The use of twinned holes.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
Location of
data points * Accuracy and quality of surveys used to locate drill * Drill hole collars and starting azimuths have been
holes (collar and down-hole surveys), trenches, mine surveyed using GPS (-/+ 5m) - for later DGPS pick ups
workings and other locations used in Mineral Resource
estimation.
* Drill hole locations were positioned using the MGA
Grid System.
* Specification of the grid system used.
* The topographic surface is highly accurate with DPG
* Quality and adequacy of topographic control. (-/+1m)
Data spacing
and * Data spacing for reporting of Exploration Results. * Drill holes have been located to test a newly defined
distribution magnetic target to the south of the Molyhil lodes.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * Drillhole spacing is sufficient to test geological
grade continuity appropriate for the Mineral Resource target
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Drill holes are orientated /predominantly drilled at
relation to sampling of possible structures and the extent to an angle of -60deg to the west which is approximately
geological which this is known, considering the deposit type. perpendicular to the orientation of the interpreted
structure target.
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
Sample
security * The measures taken to ensure sample security. * Core is onsite where it will be cut prior to sample
submission with chain of custody measures
implemented.
Audits or
reviews * The results of any audits or reviews of sampling * A review of sampling techniques and data has been
techniques and data. carried out as Thor transition from inhouse based
database to online hosted database with MaxGeo.
------------- ------------------------------------------------------------ -------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section.)
Criteria JORC Code explanation Commentary
Mineral
tenement * Type, reference name/number, location and ownership * The tenements at Molyhil comprise EL22349, ML23825,
and land including agreements or material issues with third ML24429 and ML25721. For all tenements Thor Mining
tenure parties such as joint ventures, partnerships, PLC hold 100% Project Equity.
status overriding royalties, native title interests,
historical sites, wilderness or national park and
environmental settings. * Thor has completed the Public Environmental Report
for the Molyhil Tungsten and Molybdenum Project. This
report has been accepted by the Department of
* The security of the tenure held at the time of Regional Development, Primary Industry, Fisheries and
reporting along with any known impediments to Resources in the Northern Territory
obtaining a licence to operate in the area.
* This report was approved on the 15th July 2007 by the
DRDPIFR (NT), who also confirmed in December 2011
that the approval remains current. The report is
available on request.
* Thor Mining PLC has also obtained all the required
agreements between the Traditional Owners of the land
,
and Thor Mining PLC, to enable the Molyhil Operations
to proceed with the recognition and support of the
Traditional Owners.
* The Tripartite Deed records the terms of the
Agreement between the parties in accordance with the
Native Title Act and is between the Arrapere People,
the Central Land Council and Thor Mining PLC.
* There are no known impediments to obtaining a licence
to operate in the area.
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Tungsten and molybdenum mineralisation was originally
parties parties. discovered at Molyhil in 1973. The Molyhil deposit
was initially drilled in 1977 with further drilling
carried out in 1981. The work was carried out by Fama
Mines Pty Ltd, Petrocarb NL, Nicron resources NL and
Geopeko. Between 1975 and 1976 approximately 20kt of
molybdenum and tungsten mineralisation were mined
from the northern Yacht Club skarn body to a depth of
approximately 25m.
Geology
* Deposit type, geological setting and style of * The Molyhil deposit consists of two adjacent
mineralisation. outcropping iron rich skarn bodies, marginal to a
granite intrusion, that contain scheelite (tungsten
mineralisation as CaWO(4) ) and molybdenite
(molybdenum as MoS(2) ) mineralogy. Both the outlines
of, and the banding within, the skarn bodies strike
approximately north-south and dip steeply to the
east. The bodies are arranged in an en échelon
manner, the northeast body being named the Yacht Club
and the southwest body the Southern.
Drill hole
Information * A summary of all information material to the * A collar summary table is included in report
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes: * In the opinion of Thor, historic drill results have
been adequately reported previously to the market as
required under the reporting requirements of the ASX
o easting and northing of the drill hole collar Listing Rules
o elevation or RL (Reduced Level - elevation
above sea level in metres) of the drill hole
collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
Data * No data aggregation reported.
aggregation * In reporting Exploration Results, weighting averaging
methods techniques, maximum and/or minimum grade truncations
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
Relationship
between * These relationships are particularly important in the * Drill holes were orientated predominantly to an
mineralisation reporting of Exploration Results. azimuth of 270deg and angled to a dip of -60deg,
widths and which is approximately perpendicular to the
intercept orientation of the mineralised trends.
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known').
Diagrams
* Appropriate maps and sections (with scales) and * Location, section and plans included in report.
tabulations of intercepts should be included for any
significant discovery being reported. These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
Balanced
reporting * Where comprehensive reporting of all Exploration * Exploration results are not being reported.
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
Other
substantive * Other exploration data, if meaningful and material, * 3D geological and magnetic modelled data included in
exploration should be reported including (but not limited to): report.
data geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
Further work
* The nature and scale of planned further work (eg * Based on revised modelling of data additional
tests for lateral extensions or depth extensions or drilling is planned.
large-scale step-out drilling).
* Possible extensions are shown on diagrams
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
--------------- --------------------------------------------------------------- -------------------------------------------------------------
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