Thor Mining boosts Spring Hill gold potential

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THE DRILL SERGEANT: Thor Mining (ASX: THR) has received results from the latest round of drilling carried out at the company’s Spring Hill gold project, located south of Darwin in the Northern Territory.

Highlights from the RC drilling program include:

–    6 metres at 5.6 grams per tonne gold from 15 metres, including 3m at 10.9g/t gold from 15m; (SHRC238)

–    6m at 6.8g/t from 15m, including 4m at 10.1g/t gold from 16m; (SHRC250) and

–    28m at 1.2g/t gold from 3m, including 1m at 2.5g/t gold from 10m, 1m at 2.7g/t gold from 12m, 1m at 2.2g/t gold from 15m, and 2m at 2.3g/t gold from 18m. (SHRC244)

“Not only do the new assay results have the potential to enhance the Spring Hill mining inventory but they also demonstrate the potential for further growth,” Thor Mining executive chairman Mick Billing said in the company’s announcement to the Australian Securities Exchange.

“The Spring Hill mineralising system is not straight forward, however, its potential is growing, and Thor continues to identify additional mineralisation outside previously known boundaries.”

 

High-grade shallow intersects from 2013 RC drilling located near the
southern margins of proposed pits with potential to enhance mining
inventory. Source: Company announcement

 

Thor Mining explained that 11 holes of the 19 hole program, targeting near surface mineralisation the company considered most likely to enhance its proposed initial mining inventory, intersected mineralisation within 50m of surface at grades consistent with what the company has come to expect from Spring Hill.

The company believes holes SHRC238 and SHRC250 demonstrate the potential to further add value to the near surface resource at Spring Hill.

Drilling to test up-dip continuation of mineralisation, from SHDD010 in the 2012 drilling program, indicated mineralisation may roll in an easterly direction as a saddle reef rather than extend directly to the surface as the company had previously assumed.

Thor holds a 51 per cent equity interest in the Spring Hill project, and is exercising rights to increase that interest to 80 per cent from Western Desert Resources (ASX: WDR).

Email:
corporate@thormining.com

Website:
www.thormining.com