Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Thor Mining completes bedrock geochemistry drilling at the Dundas gold project in southern Western Australia

The AIM-listed firm’s executive chairman, Mick Billing said: "All targets on this 50 hole program have been tested, with the program finishing inside both time and the estimated budget of A$100,000”
Gold
He added: “We expect receipt of assays in several weeks and it is hoped that the results will show elevated gold levels in bedrock"

Thor Mining PLC (LON:THR) (ASX:THR) revealed today that  it has completed the bedrock geochemistry drilling at the Dundas gold project in southern Western Australia.

In a brief statement, the AIM-listed firm’s executive chairman, Mick Billing said: "All targets on this 50 hole program have been tested, with the program finishing inside both time and the estimated budget of A$100,000.”

READ: Thor Mining begins drilling at Dundas project

He added:  “We expect receipt of assays in several weeks and it is hoped that the results will show elevated gold levels in bedrock and warrant further deeper reverse circulation (RC) drilling."

The drilling marks the second exploratory phase of the Dundas project and Thor hopes to intersect indicator elements such as arsenic, copper or gold.

 Thor Mining holds a 60% equity interest in the Dundas project and has rights to increase that equity to 100%.

The Dundas project is located near the Albany-Fraser belt, which hosts a number of gold discoveries including the Tropicana deposit.

In early afternoon trading, Thor Mining shares held steady at 0.9p.

Thor shares shot higher last Wednesday after it agreed to buy a 25% stake in a US lithium explorer for US$75,000.

READ: Thor Mining shares gain as it buys 25% stake in lithium explorer

Thor is purchasing the holding in US Lithium Pty Limited (USL), which owns lithium projects in Arizona and New Mexico, from Pembridge Resources using its existing cash reserves.

Llithium is a key ingredient in lithium ion batteries that power billions of smartphones, laptops and electric cars.

View full THR profile View Profile

Thor Mining PLC Timeline

Related Articles

Tungsten---periodic-table.jpg
March 07 2017
Thor Mining is now cashed up and drilling at Pilot Mountain, and results are starting to come in

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use