Thor Mining (ASX:THR) reports the presence of ‘high-grade’ gold mineralisation following a reverse circulation (RC) drilling campaign at its Ragged Range Au-lithium (Li2O)-Nickel Project in Western Australia.
The results, generated by the first 4 drillholes, have returned ‘high-grade’ gold from the silicified altered contact along the Kelly’s Ridge prospect, where previous rock chip sampling at surface returned grades of up to 15g/t Au and 535g/t silver Ag.
Key results include, 4m at 12.2g/t Au from 194m (22RRC052) and 1m at 0.91g/t Au (repeat 1.2g/t Au) from 40m (22RRC049).
The recent RC drilling campaign was designed to test below the ‘high-grade’ rock chips as well as test below and along strike of the historic drilling DDHK2, which returned an intercept of 1.5m at 22.97g/t Au.
Drilling commenced in October and comes following the completion of an airborne magnetics survey over the north-eastern portion of the tenement, which was designed to map out key lithological boundaries and potential pegmatites as announced by the company in August.
Addressing the results, Thor Mining Managing Director, Nicole Galloway Warland said: “We are delighted to share these ‘high-grade’ intercepts from Kelly’s Ridge. The intercept of 4m at 12.2g/t Au is an ‘exceptional’ result under Kelly’s Ridge, especially given the depth of the 194m downhole, showing ‘excellent’ grade continuity from the surface.
“The intercept of 4m at 12.2g/t Au is an ‘exceptional’ result under Kelly’s Ridge, especially given the depth of the 194m downhole, showing ‘excellent’ grade continuity from the surface.”
This confirms the potential of the site as indicated by historical drilling. Furthermore, with more drilling results to come, we are looking forward to gaining further understanding of the project. We anticipate more positive news to be shared with the market in due course.”
Thor Mining also notes that it has only received selected gold results to date, however it is expecting multi-element results from sections of the first 4 drillholes to be returned over the coming weeks.
As of 12pm (AEST) Thor Mining’s share price has increased by 25.00%
Thor Mining is a diversified resources company focussed on the discovery of success across its ‘highly prospective’ projects in Australia and the USA, with potential to generate ‘significant’ shareholder potential. The company’s Ragged Range project is located about 40km west of the township of Nullagine in WA’s Pilbara region and comprises about 92km-square of exploration licences, with Thor Mining owning 100% interest in all associated tenements.
With 4 of the planned 10 drillholes now complete, Thor Mining announces it will continue regional exploration, including reconnaissance sampling over ground in the northern portion of tenure prospective for lithium-caesium-tantalum (LCT) enriched pegmatites.
Images: Thor Mining
