ANN. W.Shaw update5 Jan 2018 06:30
Company Announcements Office ASX Securities Limited, 20, Bridge Street, Sydney, N.S.W. 2000
WESTERN SHAW PROJECT � DUE DILIGENCE UPDATE
The board of Thor Mining PLC (�Thor� or the �Company�) (AIM, ASX: THR), is pleased to provide an update on the due diligence activities in process in respect of the option agreement to acquire an interest in a tenement, which is currently subject to license application, known as the Western Shaw Project (ELA 45/4960) (the �Western Shaw Project� or the �Project�), situated in the Pilbara region of Western Australia.
Highlights: � Due diligence programme now underway; � Arrangements have been settled for an initial helicopter assisted reconnaissance visit to the tenement area during January; � The objective is to put experienced geologists �boots on the ground� at multiple locations along three separate north-south traverses to confirm the existence of prospective lithologies within the tenement which, if successful would be subject to further detailed ground based evaluation; � The target geology, identified from desktop review of historic records, includes potentially lithium bearing pegmatites, nickel bearing ultra-mafics and basal conglomerate hosted gold.
Mick Billing, Executive Chairman, commented: �The Western Shaw Project appears to be an excellent exploration opportunity and provides Thor with exposure to potential conglomerate hosted gold and lithium in the Pilbara province in Western Australia.� �This first site visit for field reconnaissance is an important part of our initial assessment.�
�We will provide further updates of progress and findings to shareholders at the earliest appropriate opportunity.�
Option Agreement Summary
On 8 December 2017, Thor announced the option agreement to acquire a 75% interest in the Western Shaw project, briefly summarised below: � Thor secured a 120 day option to acquire a 75% interest in the Western Shaw Project tenement via payment of an option fee of A$50,000 (approximately �28,000) (the �Option�);
THOR MINING PLC
Registered Numbers: United Kingdom 05276 414 Australia 121 117 673
Registered Office: 58 Galway Avenue MARLESTON, SA, 5035 Australia
Ph: +61 8 7324 1935 Fx: +61 8 8351 5169
Email: corporate@thormining.com
Website: www.thormining.com
Twitter @ThorMining
Enquiries: Mick Billing Executive Chairman Thor Mining PLC +61 8 7324 1935
Nominated Advisor Colin Aaronson Grant Thornton +44 (0) 20 7383 5100
AIM & ASX Listings: Shares: THR
Directors: Michael Billing David Thomas Paul Johnson Alastair Middleton Richard Bradey
Key Projects: � Tungsten Molyhil NT Pilot Mountain USA � Copper Kapunda SA
ASX Code: �THR�
5 January 2018
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