Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) has provided initial drill results from Kelly's Ridge Prospect, Ragged Range, located in the Eastern Pilbara, Western Australia, which returned high-grade gold from the silicified altered contact along Kelly's Ridge.
The company said the best intercept to date is of 4 metres (m) at grams per ton (g/t) gold (Au) from 194m in hole 22RRC0052. Previous rock chip sampling at surface reported up to 15 g/t Au and 535 g/t silver (Ag), while historical drilling reported 1.5m at 22.97 g/t Au below these rock chips and four holes were designed to intersect this anomalous zone at depth.
In a statement, Nicole Galloway Warland, managing director of Thor Mining, commented: "We are delighted to share these high-grade intercepts from Kelly's Ridge. The intercept of 4m @ 12.2g/t Au is an exceptional result under Kelly's Ridge, especially given the depth of the 194m downhole, showing excellent grade continuity from the surface.
"This confirms the potential of the site as indicated by historical drilling. Furthermore, with more drilling results to come, we are looking forward to gaining further understanding of the project. We anticipate more positive news to be shared with the market in due course."
Thor owns 100% of the Ragged Range Project, comprising 92 square kilometres of exploration licences with highly encouraging early-stage gold and nickel results. The project is located in the prospective Eastern Pilbara Craton, Western Australia.
The small reconnaissance drill program included six holes along Kelly's Ridge, two below the historic Kelly's copper mine and two at Kelly's NE gold target. Results for all gold and multi-element assay data are anticipated over the next few weeks.
Gold-only results (awaiting multi-element results) from sections of the first four drill holes confirmed gold mineralisation associated with silicification and sericite-sulphide alteration at the contact between the Boobina Porphyry and the Euro Basalt.
Significant results received to date include (greater than 0.8 g/t Au):
- 4m @ 12.2g/t Au from 194m (22RRC052)
- 1m @ 0.91 g/t Au (repeat 1.2g/t Au) from 40m (22RRC049)
Thor Mining is advancing its diversified portfolio of precious, base, energy and strategic metal projects across USA and Australia. The company's focus is on progressing its copper, gold, uranium and vanadium projects, while seeking investment/JV opportunities to develop its tungsten assets.