Thor Mining provides quarterly activities report

Gold, lithium, nickel

Ragged Range, Pilbara region, Western Australia

Highlights

• Field programmes recommenced following the opening of the Western Australia (WA) border.
• Lithium mapping and sampling programme underway; testing potential lithium-caesium-tantalum (LCT) pegmatite targets associated with the Split Rock Supersuite.

Outlook for June 2022 quarter

• Results from a fixed loop electromagnetic survey (FLEM) over the Krona Prospect, nickel gossan.
• Follow up RC drilling program for gold mineralisation at the Sterling Prospect.
• Regional mapping and stream sediment sampling results, targeting additional gold and lithium pegmatites.
• Airborne magnetics survey over the eastern portion of newly granted tenure.

Uranium and vanadium, USA

Highlights

• Received permitting approval from San Miguel County for proposed drill testing at the Wedding Bell Project, Colorado.
• The uranium spot price is at an 11 year high, with geopolitical tensions, strong demand, constrained supplies, and underinvestment continuing to drive the price up.

Outlook for June 2022 quarter

• Final authorisation for proposed drilling at Wedding Bell Project.
• Drilling preparations underway to test Groundhog, Rim Rock and Section 23 at Wedding Bell Project, Colorado.

Copper

Alford East, South Australia

Highlights

• All assays now received from Phase 1 diamond drilling programme highlighting based high grade copper-gold zones.
• 3D geological model demonstrates lithological and structural controls on mineralisation, highlighting key areas to drill test potential high-grade copper-gold intercepts.

Outlook for June 2022 quarter

• Continue In-Situ Recovery (ISR) assessment and development of the project.
• Phase 2 diamond drilling is being designed to target potential high-grade copper zones along strike.

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

Highlights

• ISR push-pull trials underway, with tracer bromide component completed.

Outlook for June 2022 quarter

• Copper-gold recoveries from lixiviant trials and integration into scoping study.

Tungsten and multi commodities

Molyhil, Northern Territories, Australia

Highlights

• Successful diamond drilling programme completed with all assay submitted for analysis, confirming magnetic target adjacent to deposit is mineralised magnetite skarn.

Outlook for June 2022 quarter

• Assay results from diamond drilling programme.
• Review strategic plans for Molyhil.

Nicole Galloway Warland, Managing Director of Thor Mining, commented: “The start of 2022 has seen positive progress made across Thor's projects.

“Our team is back on the ground for the 2022 field season at our 100% owned Ragged Range Project, WA, with a mapping and sampling programme currently underway to test potential lithium-caesium-tantalum pegmatite targets associated with the Split Rock Supersuite. Preparations are being finalised to commence the second phase of RC drilling at the Sterling Gold Prospect, with a ground based electromagnetic survey, designed to detect any conductive anomalies at depth that may indicate the presence of nickel sulfide mineralisation, scheduled for May 2022.

“In the US, we were delighted to receive approval from San Miguel County for the proposed drill testing at the Wedding Bell Project, Colorado during the period. Preparations are now underway to test the project's priority areas, Groundhog, Rim Rock and Section 23. Thor's Board notes the heightened demand for uranium in the US as the country seeks to secure domestic supply in order to replace its reliance on Russian imports.

“At the Alford East copper-gold project, South Australia, we reported encouraging results for copper and gold from our first phase of drilling. A second phase of drilling, which will include hydrogeology and hydrometallurgical studies, is now being designed. This programme will target further high-grade zones and aid our assessment of the project's ISR potential.

“After a successful first quarter, Thor looks forward to updating the market on progress made across its portfolio in 2022.”

Read the article online at: https://www.globalminingreview.com/mining/29042022/thor-mining-provides-quarterly-activities-report/