(Alliance News) - Thor Mining PLC on Friday said that assay results at the 100% owned Pilbara goldfield tenements in Australia show the gossan is strongly anomalous for nickel over the entire 900 meter strike length.
All 49 rock chip samples were anomalous for nickel with a peak value of 2,678 parts per million.
The average for all samples was 1,397 parts per million.
Chromium averaged 1,230 parts per million across all samples.
The sampled gossan extends about 900 meters and is up to 100 meters wide. Gossan is an exposed, oxidised section of an iron-ore deposit.
Executive Chair Mick Billing said: "These nickel and chromium assays are very encouraging, and well worth follow up programs.
"We appear to have a nickel bearing system of relatively impressive size, as indicated by the width and strike length, as currently known, and also by the relative consistency of the gossan samples along the gossan, and we look forward to testing this further.
The next phase will be to review existing geophysical data to help define potential drill targets, he said.
Assays for gold in stream sediment samples are expected soon.
Thor Mining shares were up 0.6% at 0.56 pence each on Tuesday morning in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Thor Energy (THR)