TIDMTHR
RNS Number : 9763C
Thor Mining PLC
21 April 2017
21 April 2017
THOR MINING PLC
DRILL ASSAY RESULTS CONFIRM GARNET DEPOSIT & DESERT
SCHEELITE EXTENSION PILOT MOUNTAIN, NEVADA USA
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM,
ASX: THR), is pleased to advise positive assay results from the
recent drilling program at the Company's wholly owned Pilot
Mountain tungsten project in Nevada, USA (Figure 1).
HIghlights:
-- Strong correlation with historical tungsten assays (Table 2)
at the Garnet deposit is likely to allow the preparation of a
maiden resource estimate for Garnet.
-- Zinc mineralisation intersected at Garnet, not reported by previous explorers.
-- Confirmation of mineralised extension to the Desert Scheelite
resource to the east, with higher grade targets at depth.
Reprocessing of geophysical data (Figure 3) suggests significant
eastern extension to the known Desert Scheelite lode and the
potential for parallel lodes to the north of Desert Scheelite,
which would be consistent with the known multiple lodes at the
other Pilot Mountain deposits.
Significant Assays:
-- High grade tungsten and robust zinc from 17GRRC01: 3.8m @
0.72%WO3 and 1.6%Zn from 45.0m, and 5.3m @ 1.0%WO3, 0.9%Zn from
83.1m.
-- Thick, near surface intersections from 17GRRC06: 6.1m @
0.24%WO3 from 16.5m and 14.5m @ 0.31%WO3, 0.3%Zn from 25.9m.
Mr Mick Billing, Executive Chairman of Thor: "These very
positive results are significant for the Pilot Mountain project.
From here we will commission the preparation of a maiden resource
estimate for the Garnet deposit, building upon the existing Pilot
Mountain resource inventory.
"At Desert Scheelite we have extended the known mineralisation
to the east, and have exciting targets for higher grade eastern
extensions at depth along with potential for parallel zones
immediately to the north."
Figure 1: Pilot Mountain location map
Figure 2: Desert Scheelite longitudinal projection showing
location of 2017 drill intersection points and interpreted plunging
higher grade drill target zone.
Figure 3: Combined IP and gravity data extending eastward of the
known Desert Scheelite deposit highlighting potential eastern
extensions and mineralisation to the north.
Link to Figure 1, 2 & 3.
http://www.rns-pdf.londonstockexchange.com/rns/9763C_-2017-4-21.pdf
Desert Scheelite
2017 Drilling at Desert Scheelite targeted potential up dip
extensions of mineralisation from the high-grade intersection of
DSDD015. Figure 4 shows the three holes relative to DSDD015 on a
cross section at 424450mE. Holes 2 and 3 from 2017 lie to the east
of the section but have been projected onto the section for display
purposes.
The geology of the area remains consistent with strong skarn
development at the near vertical contact between the Luning
Formation calcareous sediments and the younger intruded quartz
monzonite.
The results from 2017 holes have confirmed extensions to the
known mineralisation and there is still a strong prospect of high
grades to the east and down dip (Figure 2).
Results of the geophysical survey conducted in 2013 displayed in
Figure 3 indicate strong potential for the Desert Scheelite
mineralisation to extend several hundred metres further eastward of
the DSDD015 position, and potential also exists for additional
mineralisation to the hanging wall (north) of the known Desert
Scheelite lode. Testing of these areas will be undertaken in
subsequent drilling.
Figure 4: Desert Scheelite drill cross section showing 2017
drilling adjacent 2013 drillhole DSDD015
Table 1: Desert Scheelite drill hole summary
Hole Easting Northing Elevation Azimuth Dip Hole Intersection Estimated
ID (NAD83 (NAD83 (m depth (Thor 2017) True
(2017) zone zone ASL) (m) width
11) 11)
----------- -------- ---------- ---------- -------- ---- ------- ------------------ ----------
No mineralisation
17DS-RC01 424,455 4,248,320 1,923 179 -60 140.8 intersected
----------- -------- ---------- ---------- -------- ---- ------- ------------------ ----------
177.1 -
184.7m (7.6m)
17DS-RC02 424,457 4,248,321 1,923 150 -75 207.6 @ 0.14%WO(3) 4.4m
----------- -------- ---------- ---------- -------- ---- ------- ------------------ ----------
No mineralisation
17DS-RC03 424,458 4,248,319 1,923 138 -59 152.1 intersected
----------- -------- ---------- ---------- -------- ---- ------- ------------------ ----------
Garnet Prospect
Six holes were drilled to validate historic drill data from
Union Carbide Corp drilling undertaken in the 1970's. Significant
intercepts include:
Hole 17GRRC01 3.8m @ 0.31%WO(3) and 2.2%Zn from 4.6m
3.8m @ 0.72%WO(3) and 1.6%Zn from 45.0m
5.3m @ 1.0%WO(3) and 0.9%Zn from 83.1m
Hole 17GRRC06 6.1m @ 0.24%WO(3) from 16.5m
14.5m @ 0.31%WO(3) , 0.3%Zn from 25.9m
Drill intercepts from Garnet were generally consistent with the
historic data as summarised in Table 2 below, although zinc
mineralisation, intersected in each hole, has not previously been
reported. The biggest discrepancy between new and historic
intersections was apparent in Hole 17GRRC04. This is likely to be a
result of differing hole collar locations rather than unreliable
historic data.
Estimation of a maiden resource for the project will be
undertaken by an independent consultant over the next few
weeks.
The 2017 drilling at Garnet tested only a small area of the
overall area covered by historic drilling (Figure 5). Over a square
kilometre with existing historic drill intercepts remains to be
tested by future drilling.
Figure 5: Map of the Garnet and Gunmetal prospect area. The 2017
Garnet drill holes tested less than a third of the total historic
drill data over the entire Garnet and Gunmetal area.
Link to Figure 4 & 5.
http://www.rns-pdf.londonstockexchange.com/rns/9763C_1-2017-4-21.pdf
Table 2: Summary of Garnet drill hole intersections 2017 in
comparison with historic drill data from Union Carbide Corp
drilling conducted in the 1970's.
Hole Easting Northing Elevation Intersection Historic Intersection
ID (NAD83 (NAD83 (m (Thor 2017) (UCC 1970's)
(2017) zone zone ASL)
11) 11)
----------- -------- ---------- ---------- --------------- ----------------------------
4.6 - 8.4m
(3.8m) @
0.31%WO(3) 3.2 - 7.1m
17GR-RC01 422,442 4,249,532 2135 , 2.2%Zn GR-66 (3.9m) @0.5%WO(3)
----------- -------- ---------- ---------- --------------- ------- -------------------
45.0 - 48.8m 40.5 - 48.4m
(3.8m) @ (7.9m) @0.1%WO(3)
0.72%WO(3)
, 1.6%Zn
----------- -------- ---------- ---------- --------------- ------- -------------------
83.1 - 88.4m 83.6 - 88.5m
(5.3m) @ (4.9m) @
1.0%WO(3) 0.5%WO(3)
, 0.9%Zn
----------- -------- ---------- ---------- --------------- ------- -------------------
19.8 - 24.4m
(4.6m) @
0.1%WO(3) Not previously
17GR-RC02 422,526 4,249,694 2136 , 0.2%Zn GR-119 recorded
----------- -------- ---------- ---------- --------------- ------- -------------------
32.8 - 40.4m 29.9 - 37.9m
(7.6m) @ (8.0m) @
0.23%WO(3) 0.5%WO(3)
, 2.9%Zn
----------- -------- ---------- ---------- --------------- ------- -------------------
13.7 - 18.3m
(4.6m) @ 18.9 - 26.5m
0.17%WO(3) (7.6m) @
7GR-RC03 422,489 4,249,756 2130 , 0.6%Zn GR-128 0.04%WO(3)
----------- -------- ---------- ---------- --------------- ------- -------------------
Not previously 29.9 - 31.1m
recorded (1.4m) @
0.4%WO(3)
----------- -------- ---------- ---------- --------------- ------- -------------------
42.7 - 51.1m 44.2 - 45.4m
(8.4m) @ (1.2m) @
0.18%WO(3) 0.12%WO(3)
, 1.2%Zn and;
48.2 - 49.6m
(1.5m) @
0.12%WO(3)
--------------- -------------------
56.4 - 58.7m Not previously
(2.3m) @ recorded
0.18%WO3,
0%Zn
----------- -------- ---------- ---------- --------------- ------- -------------------
18.3 - 22.1m
(3.8m) @ 14.0 - 18.6m
0.35%WO(3) (4.6m) @
17GR-RC04 422,357 4,249,532 2163 , 0.1%Zn GR-123 0.58%WO(3,)
----------- -------- ---------- ---------- --------------- ------- -------------------
6.9 - 8.4m 7.8 - 8.6m
(1.5m) @ (0.8m) @
17GR-RC05 422,354 4,249,754 2158 0.06%WO(3) GR-98 0.3%WO(3,)
----------- -------- ---------- ---------- --------------- ------- -------------------
14.5 - 16.0m 13.6 - 17.7m
(1.5m) @ (4.1m) @
0.17%WO(3) 0.28%WO(3)
----------- -------- ---------- ---------- --------------- ------- -------------------
17.5 - 18.3m 18.3 - 19.5m
(0.8m) @ (1.2m) @
0.09%WO(3) 0.5%WO(3)
--------------- -------------------
75.4 - 77.0m Not previously
(1.6m) @ recorded
0.14%WO(3)
, 0.2%Zn
--------------- -------------------
80.8 - 83.1m Not previously
(2.3m) @ recorded
0.21%WO(3)
,
--------------- -------------------
83.8 - 85.3m Not previously
(1.5m) @ recorded
0.11%WO(3)
----------- -------- ---------- ---------- --------------- ------- -------------------
6.1 - 9.1m
(3.0m) @ 7.1 - 9.3m
0.2%WO(3) (2.2m) @
17GR-RC06 422,377 4,249,783 2158 , 0.1%Zn GR-100 0.2%WO(3)
----------- -------- ---------- ---------- --------------- ------- -------------------
16.5 - 22.1m 11.5 - 19.7m
(6.1m) @ (8.2m) @
0.24%WO(3) 0.23%WO(3)
,
----------- -------- ---------- ---------- --------------- ------- -------------------
25.9 - 40.4m 25.4 - 34.9m
(14.5m) (9.5m) @
@ 0.31%WO(3) 0.35%WO(3)
, 0.3%Zn
--------------- -------------------
44.2 - 45.7m Not previously
(1.5m) @ recorded
0.21%WO(3)
0.1%Zn
----------- -------- ---------- ---------- --------------- ------- -------------------
Note: - All holes were drilled vertical and
surveyed by north seeking gyroscopic down
hole tool;
- Intersection widths and true widths are
within rounding error for vertical holes
intersecting near horizontal
mineralisation.
--------------------------------------------------------------------------------------------
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.
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining Executive
1935 PLC Chairman
Ray Ridge +61 (8) 7324 Thor Mining CFO/Company
1935 PLC Secretary
Colin Aaronson/ +44 (0) 207 383 Grant Thornton Nominated
Daniel Bush/ 5100 UK LLP Adviser
Richard Tonthat
Elliot Hance +44 (0) 207382 Beaufort Securities Joint Broker
8300 Limited
Nick Emerson +44 (0) 1483 SI Capital Ltd Joint Broker
/ Andy Thacker 413 500
Tim Blythe/ +44 (0) 207 138 Blytheweigh Financial
Camilla Horsfall 3222 PR
Updates on the Company's activities are regularly posted on
Thor's website www.thormining.com, which includes a facility to
register to receive these updates by email, and on the Company's
twitter page @ThorMining.
Competent Person's Report
The information in this report that relates to exploration
results and exploration targets 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 style 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.
About Pilot Mountain
Thor's Pilot Mountain Project, acquired in 2014, is located
approximately 200 kilometres south of the city of Reno and 20
kilometres east of the town of Mina located on US Highway 95.
The Pilot Mountain Project comprises four tungsten deposits:
Desert Scheelite, Gunmetal, Garnet and Good Hope. All are in close
proximity (three kilometres) to each other and have been subjected
to small-scale mining activities at various times during the 20th
century. Union Carbide acquired the project in 1978, for US$7.0
million (estimated at US$26million - US$40million in 2017 dollars),
and conducted detailed exploration and feasibility activities
until, following a global downturn in the tungsten industry in the
1980s, they suspended further work.
The Desert Scheelite deposit currently comprises 100% of the
Pilot Mountain Resource estimate of 6.7Mt.
Table 3: Pilot Mountain Resource Summary 2014 (JORC 2012,
announced 10 June 2014. 100% owned by Thor Mining Plc
Desert Resource WO(3) Ag Cu
Scheelite
------------
Tonnes Grade Contained Grade Contained Grade Contained
% metal g/t metal % metal
(t) (t) (t)
------------ ---------- ------ ---------- ------ ---------- ------ ----------
Indicated 6,090,000 0.31 18,900 24.2 150 0.16 10,000
Inferred 700,000 0.30 2,100 9.1 10 0.24 2,000
------------ ---------- ------ ---------- ------ ---------- ------ ----------
Total 6,790,000 0.31 21,000 22.8 160 0.17 12,000
------------ ---------- ------ ---------- ------ ---------- ------ ----------
JORC Code, 2012 Edition - Table 1 report
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
------------------ ------------------------------------------------------------- ---------------------------------
Sampling Reverse circulation
techniques * Nature and quality of sampling (eg cut channels, drilling was used
random chips, or specific specialised industry to obtain samples.
standard measurement tools appropriate to the 2kg subsamples were
minerals under investigation, such as down hole gamma taken using rotary
sondes, or handheld XRF instruments, etc). These splitter for logging
examples should not be taken as limiting the broad and laboratory analysis.
meaning of sampling. Chip tray samples
were collected logged
and and photographed.
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any Desert Scheelite was
measurement tools or systems used. sampled at 5 foot
intervals and Garnet
at 2.5 foot intervals.
* Aspects of the determination of mineralisation that
are Material to the Public Report. Sample quality control
procedures were utilised
as described below.
* 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.
------------------ ------------------------------------------------------------- ---------------------------------
Drilling Reverse circulation
techniques * Drill type (eg core, reverse circulation, open-hole drilling using a face
hammer, rotary air blast, auger, Bangka, sonic, etc) sampling hammer for
and details (eg core diameter, triple or standard Garnet and a tri-cone
tube, depth of diamond tails, face-sampling bit or roller bit for Desert
other type, whether core is oriented and if so, by Scheelite.
what method, etc).
------------------ ------------------------------------------------------------- ---------------------------------
Drill QA/QC protocol has
sample * Method of recording and assessing core and chip been adopted using
recovery sample recoveries and results assessed. certified reference
material; certified
blank material and
* Measures taken to maximise sample recovery and ensure field duplicate samples
representative nature of the samples. inserted at a rate
of 15% or better.
* Whether a relationship exists between sample recovery Sample recoveries
and grade and whether sample bias may have occurred have not been systematically
due to preferential loss/gain of fine/coarse quantified but appear
material. consistently high.
------------------ ------------------------------------------------------------- ---------------------------------
Logging Geology of the hole
* Whether core and chip samples have been geologically cuttings was qualitative
and geotechnically logged to a level of detail to logged and photographed
support appropriate Mineral Resource estimation, over the entire hole
mining studies and metallurgical studies. length.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
* The total length and percentage of the relevant
intersections logged.
------------------ ------------------------------------------------------------- ---------------------------------
Sub-sampling Sampling was by rotary
techniques * If core, whether cut or sawn and whether quarter, splitter. Also refer
and sample half or all core taken. to previous QAQC description
preparation above.
* 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.
------------------ ------------------------------------------------------------- ---------------------------------
Quality Assaying was conducted
of assay * The nature, quality and appropriateness of the by ALS Global minerals
data assaying and laboratory procedures used and whether based in Reno Nevada.
and laboratory the technique is considered partial or total. Sample and assay method
tests has previously been
approved by independent
* For geophysical tools, spectrometers, handheld XRF resource estimate
instruments, etc, the parameters used in determining practitioner.
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.
------------------ ------------------------------------------------------------- ---------------------------------
Verification Program holes intersect
of sampling * The verification of significant intersections by in the vicinity of
and assaying either independent or alternative company personnel. previously drill mineralisation
and show strong correlation
between both geology
* The use of twinned holes. and assay
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
------------------ ------------------------------------------------------------- ---------------------------------
Location No mineral resource
of data * Accuracy and quality of surveys used to locate drill estimate has been
points holes (collar and down-hole surveys), trenches, mine reported.
workings and other locations used in Mineral Resource Downhole surveys have
estimation. been conducted using
north seeking gyroscopic
down hole tool.
* Specification of the grid system used. Collar location have
been determined by
US registered surveyor
* Quality and adequacy of topographic control. using differential
GPS
------------------ ------------------------------------------------------------- ---------------------------------
Data No resource estimate
spacing * Data spacing for reporting of Exploration Results. has been reported.
and distribution
* 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.
------------------ ------------------------------------------------------------- ---------------------------------
Orientation Drilling direction
of data * Whether the orientation of sampling achieves unbiased was appropriate for
in relation sampling of possible structures and the extent to the orientation of
to geological which this is known, considering the deposit type. mineralisation
structure Estimated true widths
have been supplied
* If the relationship between the drilling orientation where required.
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
------------------ ------------------------------------------------------------- ---------------------------------
Sample Locked in a secure
security * The measures taken to ensure sample security. shed until sent for
assay.
------------------ ------------------------------------------------------------- ---------------------------------
Audits None undertaken.
or reviews * The results of any audits or reviews of sampling
techniques and data.
------------------ ------------------------------------------------------------- ---------------------------------
Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
---------------- --------------------------------------------------------------- ----------------------------
Mineral 100% Thor Mining plc
tenement * Type, reference name/number, location and ownership mineral leases cover
and land including agreements or material issues with third the Desert Scheelite
tenure parties such as joint ventures, partnerships, prospect area.
status overriding royalties, native title interests,
historical sites, wilderness or national park and No known impediments
environmental settings. to licence an operation.
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
---------------- --------------------------------------------------------------- ----------------------------
Exploration Pre - 2012 data is
done * Acknowledgment and appraisal of exploration by other treated as historic
by other parties. data and used as a
parties guide only unless
validated.
Pre-existing data
post-2012 complies
with JORC 2012 code.
---------------- --------------------------------------------------------------- ----------------------------
Geology Contact metamorphic
* Deposit type, geological setting and style of skarn hosted tungsten.
mineralisation.
---------------- --------------------------------------------------------------- ----------------------------
Drill Drill hole summary
hole * A summary of all information material to the tables provided.
Information understanding of the exploration results including a
tabulation of the following information for all
Material drill holes:
o easting and northing
of the drill hole collar
o elevation or RL (Reduced
Level - elevation above
sea level in metres) of
the drill hole collar
o dip and azimuth of the
hole
o down hole length and
interception depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
---------------- --------------------------------------------------------------- ----------------------------
Data Data aggregation is
aggregation * In reporting Exploration Results, weighting averaging based on a cut-off
methods techniques, maximum and/or minimum grade truncations grade of 0.1% WO(3)
(eg cutting of high grades) and cut-off grades are , a maximum internal
usually Material and should be stated. dilution of 2.4 metres
and a minimum wining
width of 1.6 metres.
* 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 should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
---------------- --------------------------------------------------------------- ----------------------------
Relationship Estimated true widths
between * These relationships are particularly important in the have been supplied
mineralisation reporting of Exploration Results. where required.
widths
and intercept
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known').
---------------- --------------------------------------------------------------- ----------------------------
Diagrams Provided
* Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for any
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
---------------- --------------------------------------------------------------- ----------------------------
Balanced All available results
reporting * Where comprehensive reporting of all Exploration provided
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
---------------- --------------------------------------------------------------- ----------------------------
Other No deleterious data
substantive * Other exploration data, if meaningful and material, or issues known which
exploration should be reported including (but not limited to): would adversely impact
data geological observations; geophysical survey results; a potential mining
geochemical survey results; bulk samples - size and operation.
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
---------------- --------------------------------------------------------------- ----------------------------
Further Provided where appropriate.
work * The nature and scale of planned further work (eg
tests for lateral extensions or depth extensions or
large-scale step-out drilling).
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
---------------- --------------------------------------------------------------- ----------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
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