Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) said it has identified an off-hole electromagnetic conductor beneath the nickel gossan at the Krona prospect, part of its Ragged Range project in Western Australia.
The company drilled a 174 metre-hole to test a shallow (100m) conductor identified by a ground geophysics survey. Due to the steep slopes around the gossan, the closest achievable drilling position was about 50 metres (m) from the southeast corner of the plate and 130m from the plate's centre and the reverse circulation drill was unable to explain the source of the conductor.
A down-hole electromagnetic survey was subsequently completed which identified a clear off-hole conductor at around 85m down-hole, said Thor.
"I am encouraged that the down-hole geophysics survey at the Krona prospect, Ragged Range has identified an off-hole electromagnetic conductor, and that the target is genuinely anomalous for nickel with assay values above background lithological values,” said Thor managing director Nicole Galloway Warland in a statement. “This result warrants further drill testing to confirm this understanding.”
The samples have been submitted for assay of platinum group elements, Thor said.
The company also said it is designing a drilling programme at the Kelly's prospect, also part of Ragged Range, following positive results from rock chip sampling.
READ: Thor Mining encouraged by new samples at Ragged Rock