Last checked at 16 Apr 2013 07:47
16 April 2013
THOR MINING PLC
FOLLOW UP SOIL GEOCHEMISTRY AT WA DUNDAS GOLD PROJECT INDICATES ENCOURAGING NICKEL/COPPER TRENDS
The Directors of Thor Mining PLC ("Thor") (AIM, ASX: THR) are pleased to announce follow up results showing nickel and copper indicators at the Dundas gold project in southeast Western Australia. The results are from infill surface soil geochemistry (XRF) in the north eastern part of the tenement holding.
Nickel Exploration
Infill grid soil XRF analysis has commenced in the north eastern area of exploration tenement, E63/1102 (THR 60%) where the geology comprises Fraser Complex mafics and ultramafics which host significant recent nickel discoveries.
Figure 3: Nickel XRF geochemistry results over aeromagnetic (TMI) background.
Results of the additional soil sampling indicate three areas of elevated nickel (Figure 3) which are broadly coincident with elevated copper. Coincident elevated nickel and copper geochemistry is characteristic of the Nova discovery 70 km to the north of the Thor gold tenements.
Completion of the soil geochemistry program is planned to occur over the next two months.
Commenting, Mr Mick Billing, Executive Chairman of Thor Mining, said:
"This is an encouraging start in assessing the nickel prospectivity of the Dundas project. A number of the results are clearly anomalous, and the spacing between the sample collection points is broad. We will be following up with an infill program to determine the potential for nickel focussed drill targets."
About the Dundas Project
Thor's Dundas project is situated in Western Australia within the Albany-Fraser Province. The project tenements lie on the general strike-extension of the Wiluna-Kalgoorlie-Norseman greenstone belt, the most prolific gold bearing belt of the Yilgarn Province in an area where the trend of the Albany-Fraser belt is displaced south-eastwards by about 50km. The Albany-Fraser belt hosts a number of recent gold discoveries including the +5 million ounce Tropicana gold deposit, and other closer discoveries. The belt also hosts a number of nickel prospects, including the recently announced Nova project, approximately 80 kilometres north - north east of Dundas, and historical nickel intercepts nearby at Gnama Sth and Talbot.
Enquiries:
Mick Billing | +61 (8) 7324 1935
| Thor Mining PLC | Executive Chairman |
Allan Burchard | +61 (8) 7324 1935
| Thor Mining PLC | CFO/Company Secretary |
Gerry Beaney/ David Hignell | +44 (0) 207 383 5100
| Grant Thornton Corporate Finance
| Nominated Adviser |
Nick Emerson/ Renato Rufus | +44 (0) 1483 413500 | Simple Investments | Broker |
Alex Walters
| +44 (0) 7771 713608 +44 (0) 207 839 9260 | Cadogan PR | Financial PR |
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.
Competent Persons Statements
The information in this report that relates to exploration results is based on information compiled by Richard Bradey, who holds a BSc in applied geology and an MSc in natural resource management and who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Bradey is an employee of Thor Mining PLC. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Richard Bradey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.