(Alliance News) - Thor Mining PLC on Tuesday said it has entered the next phase of drilling at the Ragged Range project in Western Australia.
The Australia-focused exploration and development company began the second phase of drilling with approximately 3,000 metres reverse circulation drilling at the 100% owned project, which is located in Eastern Pilbara.
Shares in Thor were down 6.8% to 0.54 pence each in London on Tuesday morning.
The drilling is designed to test structural and geochemical targets along the 13 kilometre Sterling prospect gold corridor. About 40 drill holes are targeted, with drill depths between 60 metres to 120 metres.
"It's exciting to be commencing our second phase of RC drilling at the Sterling prospect, Ragged Range, including drill testing the recently identified [electromagnetic] conductor beneath the nickel gossan, at the Krona prospect," said Nicole Galloway Warland, managing director.
"These are robust geochemical targets associated with key structural features defined by Thor, associated with the regional thrust faulted mafic-ultramafic contact within the Kelly greenstone belt."
Alongside the drilling program, geochemical sampling and mapping will progress over the Kelly's copper-gold area towards the north east of the tenure.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Thor Energy (THR)