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Thor Mining announces 3Q21 activity reports

Published by
Global Mining Review,


Thor Mining has announced its quarterly activity report for July – September 2021.

Gold

Ragged Range, Pilbara Region, Western Australia

Highlights

  • Maiden RC drilling programme commenced (11 October 2021).
  • Infill soils define eight continuous gold anomalies supported by gold in streams.

4Q21 outlook

  • Completion of 3000 RC drilling programme at Sterling Prospect.
  • Initial assay results for RC drilling.
  • Infill soil programme, with regional mapping and stream sediment sampling concurrent with drilling.

Copper

Alford East, South Australia

Highlights

  • Broad high-grade copper-gold intercepts from completed diamond drilling programme.
  • 21AED005: 72.7 m at 1% copper (Cu) and 0.19 g/t gold (Au) from 6.3 m.
  • New 3D geological model with assay results, highlighting zones of higher-grade copper mineralisation associated with key controlling structures.

4Q21 outlook

  • Assay results from diamond drilling programme.
  • Improved 3D geological model.
  • Initial metallurgical-lixiviant test results
  • Commence permitting for push/pull hydrogeological pump testing.

Kapunda, South Australia (via 30% equity holding in EnviroCopper Ltd)

Highlights

  • MinEX CRC Coiled Tube drilling completed.
  • Permitting for Kapunda site environmental lixiviant test (SELT) drilling and copper/gold recovery work.

4Q21 outlook

  • Copper-gold exploration assay results.
  • Permitting approval of SELT drilling and copper/gold recovery testing.

Tungsten and multi commodities

Molyhil, North Territories, Australia

Highlights

  • Permitting for drilling programme to test high-quality magnetic targets adjacent to deposit.

4Q21 outlook

  • Diamond drilling programme to test new magnetic targets for potential mineralisation within magnetic W-Mo skarn.
  • Update Molyhil feasibility study.

Pilot Mountain, USA

    Highlights

  • Thor have entered into a sale option agreement with Power Metals Resources PLC to divest project for an agreed value of US$1.8 million.

4Q21 outlook

  • Completion of sale.

Corporate and finance

Highlights

  • Private placement of £800 000 (AUS$1 504 704) to progress key projects.
  • Board and management changes:
    • Resignation of Mick Billing, Executive Chair.
    • Appointment of Mark Potter, Non-Executive Chair.
    • Appointment of Paul Wittwer, Exploration Manager.

Nicole Galloway Warland, Managing Director of Thor Mining, commented: “The September quarter has been a busy time, with Thor increasing its on-ground exploration activities to advance projects to drilling status.

“At our Ragged Range Project, after a series of successful and systematic stream and soil programmes, we are excited to have commenced our maiden RC drilling programme at the Sterling Prospect. Drilling is targeting eight robust geochemical anomalies in the central portion of the Sterling Prospect, within the highly prospective 13 km structurally controlled gold anomalous corridor defined by Thor, associated with the regional mafic-ultramafic thrust faulted contact within the Kelly Greenstone Belt.

“During the quarter, we completed our first phase of diamond drilling at the Alford East Copper-Gold Project, with results reporting significant intercepts and defining a new structurally controlled, broad zone of high copper and gold grades, from near surface. With the copper price at an all-time high makes this a very significant project in the Thor portfolio. The confirmed uplift in copper and gold grades along the controlling NNE structure continues to excite and exceed our expectations. For instance, drillhole 21AED005 reported the widest Cu intercept >1% Cu at Alford East (72.7 m at 1% Cu and 0.19 g/t Au for only 6.3 m). We look forward to testing this structure in areas open along strike, to the north and south.

“Initial pump testing was also completed at Alford East in September, with preliminary results showing favourable water parameters and permeability for potential In Situ Recovery of copper and gold. This is positive news as we advance the project towards an in-situ recovery (ISR) assessment, and the development of a low cost, low carbon emission alternative to conventional open cut or underground mining.

“We are very pleased to enter into a sale option agreement with Power Metals for the 100% sale of the Pilot Mountain Project in Nevada, USA. This strategic divestment of this non-core asset is in line with our focus on the advancement of our copper and gold projects.

“We look forward to providing further updates on our continue progress.”

Read the article online at: https://www.globalminingreview.com/exploration-development/29102021/thor-mining-announces-3q21-activity-reports/

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This article has been tagged under the following:

Australian mining news Copper mining news Gold mining news