Thor Mining has provided a quarterly report for January to March 2021 (1Q21).
Ragged Range, Pilbara region, Western Australia, Australia
- Geochemical sampling and access survey in advance of drill programme permitting.
- Completion of acquisition of adjacent exploration tenements.
Outlook for June 2021 quarter (2Q21)
- Initial 3,000m RC drill program to test the Sterling prospect.
- Results from soil sampling program at Sterling Prospect.
Alford East, South Australia, Australia
- Maiden mineral resource estimate of 177 000 t contained copper and 71 000 oz gold.
- Resource extension drilling and ISR related technical testwork.
Kapunda, South Australia, Australia (via 30% equity holding in EnviroCopper Ltd)
- Permitting for 2nd stage hydrogeological testing.
- Permitting for Site Environmental Lixiviant Test (SELT) drilling and copper/gold recovery work.
- Stage 2 borehole hydrogeological testing.
- Commencement of SELT drilling and copper/gold recovery testing.
Uranium and vanadium, USA
- Planning and permitting for initial drill testing of the Colorado claims.
- Initial 1000 m RC drill testing of the Colorado claims.
Tungsten and mutli-commodities
Molyhil, Northern Territories, Australia
- Updated mineral resource estimate includes portion categorised as ‘measured’ resource.
- Continued discussions with potential Molyhil project financiers and off-take partners.
- Ongoing discussions with Australian government agencies mandated to assist Australian critical minerals projects, and potential financiers and partners.
Pilot Mountain, Nevada, USA
- Ongoing discussions with various US parties aimed at securing specific investment to progress this project.
- Continue attempts to secure project investment.
Corporate and finance
- Appointment of Nicole Galloway Warland as Managing Director.
- Strategic placing raises £750 000 (approximately AUS$1.3 million) before expenses.
Mick Billing, Executive Chairman, commented: "We congratulate Nicole Galloway Warland on her appointment to the position of Managing Director. Her energy and skills will be pivotal to driving outcomes across our portfolio of projects.
"The next phases of work involving drilling at Ragged Range and also at the US uranium-vanadium project in Colorado, along with resource extension work and ISR testwork at Alford East, the Directors believe will have a significant impact on the value of shareholders' investment in Thor Mining.
"The 2021 programme at the Kapunda ISR copper project is expected to be project-defining with gold focused drilling, and field SELT trials about to commence. This work is aimed at delivering the final stage of technical production feasibility for the ISR process at Kapunda."
Read the article online at: https://www.globalminingreview.com/finance-business/30042021/thor-mining-provides-1q21-update/