Thor Mining PLC (LON:THR, ASX:THR) announced “highly significant” results from soil surveys at the Sterling Prospect, part of its Ragged Range gold project in Western Australia.
Up to 114 parts per billion (ppb) gold was found in soil samples in the central area of the Sterling Prospect versus background levels of around 2-3 ppb.
“This is well above background and considered highly significant,” said the company.
The gold in soil anomalism was defined over a 1.2km strike length and is open to the south and north in the central area of the Sterling Prospect.
Thor completed a 392-sample soil programme over two areas of the Sterling Prospect: Sterling Central and Sterling South. The soil programme follows on from high-grade gold stream results reported in 2019 and 2020.
"These latest results are very promising for Thor as the gold anomalism in soils supports the stream sediment results, with gold clusters and trends forming in the Sterling Prospect,” said Nicole Galloway Warland, managing director of Thor. “This confirms the significant exploration potential for a quality gold discovery at Ragged Range.”
“An old track into the prospect area is currently being upgraded to allow for the exploration teams to work independently without having to rely on helicopter support. This will speed up Thor's field work and allow follow up soil sampling to be completed quickly and will also allow access for a drilling rig,” she added.
Thor was awarded A$160,000 (£87,000) from the Western Australia government to drill test stream and soil gold anomalies at the prospect.
Infill soil sampling will be used to finalise drill targets.