Thor Mining PLC (LON:THR) (ASX:THR) shares surged higher on Friday after the firm revealed that there is visible gold from sample panning of the second phase of gold, nickel, and chromium geochemical sampling at the 100%-owned Pilbara Goldfield tenements (E46/1262 and E46/1190) in Western Australia.
Among the highlights, 17 of the 32 stream sediment samples had visible gold in panning, while two of the 2019 sample sites (19PST22 and 19PST32) had visible gold in multiple follow up stream sediment samples, and samples 20PST04 and 20PST24 returned 13 and 11 grains respectively from panning.
Mick Billing, Thor Mining’s executive chairman commented: "This appears to be a highly successful follow-up, to the previous, very successful, sampling program."
"To find visible gold in multiple sites in very close proximity to previous gold samples is very encouraging. We look forward eagerly to confirmatory gold assays along with assays of the potential nickel site samples,” he added.
Gossan with prior nickel in rock chips was mapped and sampled over 800 strike metres. A total of 32 stream sites and 49 gossan sites were sampled and are now undergoing laboratory assay with results expected to be available in two to three weeks.
The program was designed to follow up the eight most encouraging sites from the 2019 reconnaissance program in addition to locating and testing the area of gossan identified by the WA Geological Survey, Thor Mining said.
in late morning trading, Thor Mining shares in London were 35% higher at 0.515p.
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