INVESTOR UPDATE

New Gold Assays Define Drill Ready Targets at Ragged Range Project, WA

The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR, OTCQB: THORF) are pleased to announce the latest soil results from the Company’s 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia.

Project highlights:

  • Gold in-soil anomalies define eight high quality drill-ready targets.
  • High gold in soil values, including 348ppb Au (21RRS0777) and 153ppb Au (21RRS437), identified in both the central and southern areas of the Sterling Prospect. This is well above background (5ppb).
  • Gold panned 100m down slope of sample 21RRS377 reporting 74.1g/t Au 21RRST016, in pan concentrate.
  • Gold in soil anomalies extend materially, along strike at both the Sterling Central and Sterling South areas, with zones over 1.2km in length and remain open to the north and south.
  • 3000m maiden reverse circulation (RC) drilling program scheduled to commence in early October, designed to test these high gold soil and stream anomalies.
  • Thor Mining awarded A$160,000 from the Western Australia Government under the Government EIS Co-funded grants program, to drill test stream and soil gold anomalies at Sterling Prospect.
    Infill soils and geochemical data analyses continuing, with field mapping and regional soil and stream sampling programs to run concurrent with the scheduled RC drilling program over priority targets within the anomalous 13km gold corridor at the Sterling Prospect.

The latest results from our surface geochemistry have defined eight new robust drill- ready targets at Sterling Prospect, Ragged Range. These results confirm our geological model of shear hosted gold associated with the mafic-ultramafic contact.
The Directors believe that Ragged Range has significant exploration potential, with all the right ingredients to host significant gold deposits and we look forward to commencing our maiden RC Drilling program at the Sterling Prospect next week.

- Managing Director Nicole Galloway Warland

THE

RAGGED RANGE PROJECT

The Ragged Range Project covers 92 square kilometres of exploration licences at one of the best addresses for mining exploration in Australia. 

Aproximately 40 kms west of Nullagine, in the Pilbara region of Western Australia, the Ragged Range Project area lies on the eastern boundary of the Greatland Gold Panorama project and predominantly comprises of Eastern Pilbara greenstone which is highly prospective for both gold and nickel.

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