Dual-listed Thor Mining Plc (ASX/AIM:THR) has identified a number of significant magnetic targets following the interpretation, of the Airborne magnetics survey flown in October 2020, at the 100% owned Ragged Range Project in Western Australia.
Priority targets to follow-up include:
- Sterling Prospect, identified as the principle initial target, is approximately five kilometres long and between 300 and 500 metres in width.
Anomalous stream sediment gold assays (up to 2.2g/t Au) clearly related to the structural contact of the Euro Basalt and younger Dalton Suite, at the Sterling Prospect, while gold present in streams confirms that gold mineralisation occurs very close to surface; and
- Three isolated, strong magnetic anomalies which have no simple geological explanation in the magnetics.
Executive Chairman, Mick Billing, said the Ragged Range area is structurally complex with many phases of folding and shortening of the prospective Euro Basalt. This leads to the creation of space, significantly increasing the potential to host gold mineralisation.
“It is very exciting to see the interpretation of airborne magnetic data helping to explain the occurrence of, what appears to be, significant gold mineralisation at the Sterling Prospect, at Ragged Range.”
“The Sterling Prospect appears to be a target of some substance, with a strike length of up to five kilometres, and multiple anomalous stream sediment gold assays. Next steps will consist of detailed soil sampling over this, with reconnaissance soil sampling over the other shallow magnetic anomalies.”
“The simple thrust model for quartz-carbonate veins hosting significant gold mineralisation at the Sterling Prospect makes a compelling target for drilling early in 2021.”
The Ragged Range Project is located in the highly prospective Eastern Pilbara Craton, and is 100% owned by Thor Mining through licences E46/1190, E46/1262, E46/1355 (application), along with the recent acquisition of additional tenure surrounding the gold anomalous zones, E46/1340 and E46/1354 (application).
The recent high-resolution airborne magnetics survey was flown by MAGSPEC Airborne Surveys Pty Ltd on close spaced 40m traverses, totalling 3,088-line kilometres. The flight lines were oriented perpendicular (0450) to prospective stratigraphic and structural controls in the project area. The survey was flown over E46/1190, E26/1262 and E46/1355 with the recently purchased Greatland Gold PLC airborne magnetics data ‘stitched’ into the raw data set.