Last checked at 4 Aug 2020 07:00
4 August 2020
THOR MINING PLC
APPOINTMENT OF DIRECTOR
The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR) are pleased to announce that the Company has appointed Mr Mark McGeough to the Board as a Non-Executive Director with immediate effect.
Mr Mick Billing, Executive Chairman, commented:
"We are pleased to announce the appointment of Mark as a Non-Executive Director of Thor."
"Mark has an outstanding background as a geologist and manager of people and processes, and has a wealth of experience with commodities which are a particular focus for Thor, including copper, gold, molybdenum, and uranium, and we are very pleased to add his strengths to our team."
Background
Mark McGeough has worked with a number of Australian Mining Companies, including:
· Chinova Resources Pty Ltd (formerly Ivanhoe Australia) where, as General Manager - Geology, provided corporate governance leadership, and led technical teams working on copper, gold, and molybdenum/rhenium resources
· Toro Energy Limited where, as General manager Exploration, he was responsible for teams exploring for uranium in Australia and Namibia, including discovery of the Theseus Uranium deposit.
· Prior to these roles, Mark worked as Manager - Geological Survey with the South Australian government department of Primary Industries and Resources, and with Mount Isa Mines, Xstrata Copper and Zinc
· Mark McGeough graduated with a B.Sc Joint Honours in Geography and Geology from the University of London in 1976.
Mark Anthony McGeough, aged 65, has been a director of the following companies during the last five years:
Current | Past |
N/A | Chinova Resources Operations Pty Ltd Chinova Resources Cloncurry Mines Pty Ltd Chinova Resources Osborne Pty Ltd Chinova Resources Tennant Creek Pty Ltd |
Mr McGeough has no interests in the ordinary shares of the Company.
There is no further information that is required to be disclosed pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM Rules for Companies
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
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Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.
Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018¹ suggested attractive returns.
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred Resource estimates for the White Violet and Samarkand tungsten deposits and the Bonya copper deposit².
Thor also holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate³ on 2 of the 4 known deposits. The US Department of the Interior has confirmed that tungsten, the primary resource mineral at Pilot Mountain, has been included in the final list of Critical Minerals 2018.
Thor holds a 25% interest Australian copper development company EnviroCopper Limited (with rights to increase its interest to 30%). EnviroCopper Limited holds:
· rights to earn up to a 75% interest in the mineral rights and claims over the resource⁴ on the portion of the historic Kapunda copper mine in South Australia considered recoverable by way of in situ recovery; and
· rights to earn up to 75% of the Moonta copper project, also in South Australia comprising the northern portion of exploration licence EL5984 and includes a resource estimate⁵ for several deposits considered recoverable by way of in situ recovery.
Notes
¹ Refer ASX and AIM announcement of 23 August 2018
² Refer ASX and AIM announcements of 26 November 2018 and 29 January 2020
³ Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018
⁴ Refer AIM announcement of 10 February 2018 and ASX announcement of 12 February 2018
⁵ Refer ASX and AIM announcement of 15 August 2019