PRELIMINARY DRILLING RESULTS AT WHITE VIOLET - BONYA PROJECT
The Board of Thor Mining Plc ("Thor") (AIM, ASX: THR) is pleased to advise positive preliminary results from the second round of drilling at the Bonya project White Violet deposit, adjacent to the Company's 100% owned Molyhil project, in the Northern Territory of Australia.
The Bonya project is held in joint venture between Arafura Resources Limited (60%) and Thor (40%) with Thor acting as manager, and each party contributing to the cost according to their equity.
A total of 11 holes were drilled at White Violet to complete the program for that deposit. The drill rig has now moved to the Samarkand deposit for the 2nd part of the program.
The following results obtained via portable X-Ray Fluorescence ("XRF") determination should be considered preliminary and subject to confirmation by subsequent geochemical analysis. The geochemical analysis results may vary from those obtained from XRF.
· 20 metres @ 0.24% WO3 (tungsten tri-oxide) from 2 metres, including 8 metres @ 0.38% Cu (copper) from 3 metres from hole 19RC034
· 8 metres @ 0.24% WO3 from 26 metres from hole 19RC035
· 14metres @ 0.23% WO3 from 65 metres and 8 metres @ 0.63% Cu from 62 metres from hole 19RC037
· 2 metres @ 0.71% WO3 from 11 metres and 5 metres @ 0.33% WO3 from 17 metres from hole 19RC039
· Tungsten-bearing mineralisation extended by 40 metres to both the east and west with a total strike length of 120 metres and vertical depth of 110 metres.
Mr Mick Billing, Executive Chairman, commented:
"It is very exciting to have confirmation of both consistency of mineralisation and extensions to strike at the White Violet deposit."
"Tungsten grades continue to be positive, and it is also pleasing to see further evidence of copper mineralisation."
"The key Thor driver for drilling at Bonya is to add to the Molyhil area mining inventory with an objective of a minimum of ten years total open pit mining and processing. These results, subject to assay and follow up resource work, should, we expect, go quite some way towards meeting that objective."
Drilling has been completed at White Violet and is now in progress at the Samarkand deposit. The White Violet preliminary XRF results are summarised for each hole in Table A. Preliminary results for Samarkand will be announced as they become available.
Table A: Summary of White Violet preliminary XRF results
North GDA94 Zone53
Elev ASL (m)
Preliminary XRF Intercept summary
Est true width (m)
20m @ 0.24% WO3 from 2m including 8m @ 0.38% Cu from 3m
2m @ 0.11% WO3 from 136m and 2m @ 0.16% WO3 from 144m and 1m @ 0.58% WO3 from 156m
1.5m 1.5m 0.6m
11m @ 0.19% WO3 from 1m and 4m @ 0.11% WO3 from 15m and 8m @ 0.24% WO3 from 26m
8m 2.5m 6m
4m @ 0.52% WO3 from 51m and 11m @ 0.11%WO3 from 60m and 5m @0.15% WO3 from 85m and 8m @ 0.33% WO3 from 115m and 3m @ 0.5% WO3 from128m
2.5m 7m 3m 6m 2m
14m @ 0.23% WO3 from 65m and 8m @ 0.63% Cu from 62 m
18m @ 0.26% WO3 from 18m
3m @ 0.45% WO3 from 42m and 1m @ 0.62% WO3 from 50m and 4m @ 0.23% WO3 from 55m
2m 0.5m 2.5m
2m @ 0.71% WO3 from 11m and 5m @ 0.33% WO3 from 17m
1m @0.47% WO3 and 2.2% Cu from 22m
no significant intercept
no significant intercept
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
The information in this report that relates to exploration results is based on information compiled by Richard Bradey, who holds a BSc in applied geology and an MSc in natural resource management and who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Bradey is an employee of Thor Mining PLC. He has sufficient experience which is relevant to the div of mineralisation and type of deposit under consideration and to the activity which he 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'. Richard Bradey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Thorholds100%ofthe advancedMolyhil tungsten project in the NorthernTerritory of Australia, forwhich anupdated feasibility study inAugust 2018¹suggestedattractive returns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including an Inferred resource for the Bonya copper deposit².
Thoralsoholds100%ofthePilotMountaintungstenprojectinNevadaUSAwhichhasaJORC2012 Indicated andInferredResources Estimate³on2ofthe4 knowndeposits. The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.
· Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
· Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
· 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.
Reverse Circulation drilling with face sampling hammer was used to obtain one metre interval samples. All samples were dry.
Subsamples of approximately 2-3kg were taken from each interval using riffle splitter for geochemical analysis. XRF subsamples and Chip tray samples were collected, logged and photographed.
Industry standard QAQC protocol was adopted with reference material inserted every fifth sample.
· Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
Reverse circulation drilling with face sampling hammer.
Drill sample recovery
· Method of recording and assessing core and chip sample recoveries and results assessed.
· Measures taken to maximise sample recovery and ensure representative nature of the samples.
· Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Samples were weighed from a selection of holes to gauge sample recovery. Samples were consistently within the range of 15 to 20kg and consistent across different rock units.
· Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
· Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
· The total length and percentage of the relevant intersections logged.
Hole cuttings were logged geologically and photographed for the entire length of each hole.
Mineralised and unmineralised zones were easily determined from geological observations and XRF determination.
Sub-sampling techniques and sample preparation
· If core, whether cut or sawn and whether quarter, half or all core taken.
· 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.
Subsamples for independent laboratory analyses were taken by riffle splitter.
The majority of samples were dry. Wet samples were noted in the logs.
Sample size of 2-3kg is appropriate for RC samples with a maximum particle size of 6mm.
For preliminary XRF determination not to be used for resource estimation - a further subsample of 30g was taken which is not considered truly representative.
Quality of assay data and laboratory tests
· The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
· For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
· 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.
Industry standard sample preparation finishing with sample pulverisation to 80% passing 75µm. with assay by peroxide fusion and ICP-MS. The technique is considered appropriate for the analyte suite.
Industry standard QA/QC protocol is implemented in the assay process.
Verification of sampling and assaying
· The verification of significant intersections by either independent or alternative company personnel.
· 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.
Significant intersections reported correspond with visual indications in samples. No further independent verification has been undertaken.
Location of data points
· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
All hole collar locations will be surveyed by licenced survey contractor for mineral resource estimation.
North seeking gyro will be used for downhole survey.
Grid system used is GDA94, zone 53.
Data spacing and distribution
· Data spacing for reporting of Exploration Results.
· Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
· Whether sample compositing has been applied.
Drill holes are spaced at 40 metre centres on 25 metre spaced drill sections. This spacing is considered appropriate for resource estimation in this div of mineralisation.
Samples have not been composited.
Orientation of data in relation to geological structure
· Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
· 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.
Hole orientations are appropriate for the orientation of target mineralised zones. Estimated true widths are stated.
· The measures taken to ensure sample security.
The project is located in a remote region. No unauthorised company personnel visited the site during operations. Assay samples were collected from each hole immediately after drilling. Samples were transported for safe storage at a base camp before being securely packaged for transport to the laboratory. All submitted assay samples were receipted by the laboratory.
Audits or reviews
· The results of any audits or reviews of sampling techniques and data.
Section 2 Reporting of Exploration Results
JORC Code explanation
Mineral tenement and land tenure status
· Type, reference name/number, locationand ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmentalsettings.
· The security of the tenure held at thetime of reporting along with anyknown
impediments to obtaining a licence to operate in the area.
The Bonya deposits are located on EL29701 jointly held by Arafura Resource Limited (60%) and Thor Mining PLC(40%) with Thor acting asmanager
EL29701 is a mature exploration licence subject to ongoing biennial renewal.
Exploration done by
· Acknowledgment and appraisalof exploration by otherparties.
Previous drilling was undertaken by Central Pacific Minerals NL in 1971 using open hole percussion with limitedsuccess. There are no complete records of the historic drilling.
· Deposit type, geological setting and divof mineralisation.
Contact metamorphic skarn hosted
Drill hole Information
· A summary of all information material tothe understanding of the exploration results including a tabulation of the following information for all Material drillholes:
§easting and northing of the drillhole collar
§elevation or RL (Reduced Level - elevation above sea level in metres) of the drill holecollar
§dip and azimuth of thehole
§down hole length andinterception depth
· If the exclusion of this information is justified on the basis that the informationis not Material and this exclusion does not detract from the understanding of the report, the Competent Personshould
clearly explain why this is the case.
This information is tabulated in detail within the announcement
Data aggregation methods
· In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades areusually Material and should bestated.
· 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 shouldbe shown indetail.
· The assumptions used for any reportingof metal equivalent values should beclearly
Where sample intervals vary, reported average grades are length weighted. No grades were cut
A 3-metre maximum waste width and cut-off grade of 0.08% WO3 was used in determining aggregated mineralisation intervals.
no high-grade intervals were highlighted.
No metal equivalents were reported.
Relationship between mineralisation widths and
· These relationships are particularly important in the reporting ofExploration Results.
· If the geometry of the mineralisation with respect to the drill hole angle is known,its
Estimated true widths are provided for each reported interval. Mineralisation intercept angles are in the order of 60 degrees. Correction to true widths is in the order of 50 to 65% of drill widths.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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Thor Mining's (LON:THR) Mick Billing tells Proactive London's Andrew Scott they're continuing to advance exploration activities at Bonya to add value to the Molyhil project.
He says drill results have so far been encouraging with higher than expected grades at White Violet.