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It will be boarder line at the best IMO. Look at their history.
To this question: Internally they know they have lot of gold and before Publishing the assay, they are acquiring the adjacent area CHEP.
Well looks like most are calling Smoke and Mirrors SP is reflecting that.
I think 1st quarter next year should be exciting still like the mix of THR.
It is quite usual to buy surrounding areas when aero magnetic images show a large anomaly. It increases potential production and stops smaller companies rushing to stake claims if there is a positive announcement. It is unlikely they would bother because the images are poor.
More copper / gold exposure with more funding required . They must be entering in to these acquisitions with some reassurance that funding will be forthcoming. Looks increasingly that there will be asset disposals , most probably Tungsten where they retain a small free carry.The point about Alford East is that Thor acquired NOT Enviro Copper who negotiated Alford West as part of the Moonta package. . Billing has already said they want to increase their stake in E.C. Beyond the 30 % . Quite possible the E.C. could be rolled into Thor .
>> or it's not looking as good as they hoped, so they're trying somewhere else.
Yes, because when you find no gold it's always a good idea to buy next door. At least try to include some minimal logic in the de-ramps.
It will be boarder line at the best IMO. Look at their history.
...or it's that bloody BIG!
...or it's not looking as good as they hoped, so they're trying somewhere else. To keep the home fires burning a bit longer.
They no what they got so get next door before release news
So, much as expected, the assays of the stream sediment samples from the October field program are looking to be available in early December, which fits in with the usual timings of 4-6 weeks. There have been some recent delays though at the labs, due to the increased demand over the past few months, so early December, maybe a bit later IMHO.
bsg you are so funny but your opinion does not count for much here.
Very possible the placing who knows we want gold gold gold
2 ut trades today both above the offer at 1.185p
We need BIG nuggets ........and lots of them come on hurry up please
Not what I wanted. But not unexpected.
Just tell us there's gold mick and lots of it and then drill baby drilllll.
Can't afford anymore. So still happily holding.
Nice!
These guys are planning on drilling expanding ragged range as they know it's going to be huge!
DMTHR
RNS Number : 1690G
Thor Mining PLC
23 November 2020
23 November 2020
THOR MINING PLC
PILBARA GOLDFIELDS RAGGED RANGE PROJECT
ACQUISITION OF ADJACENT EXPLORATION TENEMENTS
The directors of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR) are pleased to advise that it has signed a non-binding Term Sheet for the acquisition of additional licence areas adjacent to Ragged Range in the Pilbara region of Western Australia.
Highlights:
-- Two additional licences (E46/1340 and E46/1354 (application) include areas over, and surrounding, historical small scale gold and copper mines.
-- Total Thor Pilbara licence area, including 73 sq kms under application, totals 213 sq kms.
-- New licence area increases the Thor exposure to potential granite contact deposits, complementing the mafic/ultra mafic contact exposure dominated by the 13 kilometre gold zone previously reported(THR:ASX 21 October 2020).
-- The newly acquired tenure is considered highly prospective for shear hosted gold mineralization along the granite contacts to the north and hydrothermal copper mineralization associated with the felsic porphyries intruding the mafic Euro Basalts in the north- east.
-- Anomalous historic stream sediments include up to 76ppb gold with 240ppm copper (Sample 2430)(1)
-- Data review over the newly acquired ground continuing, with field programs planned for early 2021.
-- Airborne magnetics data has been received with magnetic interpretation in progress.
-- Stream sediment samples from the October field program are still at the laboratory with results now anticipated early December.
(1) Open File Report A050141-Great Southern Mines -Surrender Report
Mick Billing, Executive Chairman of Thor Mining, commented:
"We are delighted to be able to add to our holdings adjacent to Ragged Range where we have made very encouraging progress this year."
"The eastern portion of the newly acquired area hosts sites of historical small scale gold and copper mining, however there has been very little modern day exploration of this area."
"We expect shortly to have assays from the October sampling program where we also recovered visible gold via panning, and are also working on interpretation of the data from the recently completed airborne magnetic survey, which is aimed at refining gold and nickel drill program planning."
A map showing the acquired licence area, and its proximity to the Thor Ragged Range project can be accessed from the Thor website via the attached link:
www.thormining.com/sites/thormining/media/Maps/rr-extended.jpg
Acquisition Terms
Thor have executed a non-binding Term Sheet with Redstone Metals Pty Ltd and associated parties to acquire a 100% interest in each of E46/1340, and E46/1354 (under application). Acquisition consideration comprises:
-- Initial Consideration
-- 12.5 million ordinary shares in Thor;
-- 8.333 million options to acquire Thor sha
It's the RNS from Friday but Aussies getting it this morning.
Makes me think it'll be another week before we hear about ragged range
More copper/gold coming:
https://hotcopper.com.au/threads/ann-new-copper-gold-project.5771498/#post-49060010
The positioning and future thinking diversification is top class. News must be very close now.
Not sure about you, but I'm invested here for the future, not the past.
Gumtree
What masterclass is this on, given Micks past ??
Having said that , THR has good potential.
Copper with gold, fits in with the dissolving minerals underground in a solution before extraction, seems like their loading the table before playing their hand which could be industry changing - RE BSG past is past unless repeated. Sadly though Supernatural after 15 years has now come to an END, luckily Jack Daniels is providing appropriate honeyed support.
Bad Smelly Gas, filtered out.