Thor Mining PLC (AIM:THR, OTCQB:THORF, ASX:THR) said it defined eight new drill-ready targets at the Sterling prospect, part of its Ragged Range gold project in Western Australia, following the latest soil results.
The results showed high gold in soil values, including 348 parts per billion (ppb) gold and 153ppb gold, identified in both the central and southern areas of the Sterling prospect, the company said, adding that the values were well above background levels of 5ppb.
A 3,000-metre maiden reverse circulation (RC) drilling programme, designed to test the high gold soil and stream anomalies, is set to start in early October.
“The directors believe that Ragged Range has significant exploration potential, with all the right ingredients to host significant gold deposits and we look forward to commencing our maiden RC drilling programme at the Sterling prospect next week," said managing director Nicole Galloway Warland.
The company was awarded a A$160,000 (£86,000) grant from the Western Australia government to drill test stream and soil gold anomalies at Sterling.