RE: RNS31 Jan 2022 07:08
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
"The December quarter saw Thor increase its on-ground exploration activities with concurrent drilling programs at Ragged Range Gold Project, WA and Molyhil Critical Minerals Project, NT, whilst advancing the drill permit process for Wedding Bells Uranium Project, USA.
Although no significant gold was intercepted in the maiden RC program at the Sterling Prospect, Ragged Range, this is only the start of our gold campaign at Ragged Range, with some of the best ground yet to be tested. Elevated pathfinder elements and broad zones of alteration are positive indicators that we are in close proximity to the gold source.
Thor's recent geological review of the Ragged Range project, triggered by the granting of E46/1393, has identified exciting lithium-caesium-tantalum targets associated with the highly prospective Split Rock Supersuite.
We are currently designing our 2022 field program, with further drilling to complete the original and test new targets identified at the Sterling prospect, with geophysics, comprising airborne and ground surveys, and geochemical sampling and mapping programs planned over our additional gold, nickel and lithium target areas. The new lithium targets will be advanced as soon as possible and have the potential for significant exploration discoveries, while we continue drill testing further gold exploration targets at the Sterling Prospect.
We are excited with the new discovery at our Molyhil critical metals project, with drilling validating an interpreted mineralised magnetic target, developed from 3D modelling - a new geological concept for the project. The extension of this mineralisation, directly south of the deposit, in a previously untested area, is pivotal to the overall Molyhil project.
Pump testing of our initial water bore at Alford East project has shown favourable water characterisation and permeability for potential In Situ copper-gold recovery. This is positive news as we progress the project towards ISR assessment and development; an environmentally, low carbon emission alternative to conventional open cut and underground mining.
Permitting is progressing well at our Wedding Bell Uranium Project in the US and we hope to update the market in the coming weeks, along with assay results from our recently completed successful diamond drilling at the Molyhil critical minerals project in the Northern Territory."
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