Thor starts nickel survey on Ragged Range Project

6th May 2022 13:13

(Sharecast News) - Thor Mining announced the start of a ground-based electromagnetic survey over the nickel gossan now referred to as the Krona Prospect on Friday, at its wholly-owned Ragged Range Project in the Eastern Pilbara of Western Australia.

The AIM-traded firm said the high-powered fixed loop electromagnetics (FLEM) ground geophysics survey had begun on the prospect, extending over the untested nickel gossan in the west of the tenure.

It said the survey was designed to detect conductive anomalies at depth, that could indicate the presence of nickel sulphide mineralisation.

The nickel gossan is located at the basal conduct of the Dalton Suite ultramafic unit, in the "classic location" for nickel sulphide mineralisation.

At the same time, Thor said its team was on the ground mapping and sampling several lithium targets, including potential lithium-caesium-tantalum (LCT) pegmatites identified within the prospective 10 kilometre radius of the Split Rock Supersuite at Ragged Range.

Final preparations were also in place to start the second phase of reverse circulation drilling on the Sterling Gold Prospect, meanwhile.

"Thor is excited to see the geophysics crew begin work on the ground after nearly one year of waiting for this survey to commence as a result of WA border closure and high demand on geophysics crews," said managing director Nicole Galloway Warland.

"Geological mapping and sampling indicate that the gossan extends over one kilometre, with geochemistry highlighting anomalous nickel and chromium.

"The electromagnetic survey is expected to identify the most prospective areas of nickel sulphide mineralisation at depth to conduct initial drill testing and will take around one week to complete, with results to follow soon after."

Galloway Warland said at the same time, the company was working to map and sample several targets prospective for lithium identified within a 10 kilometre radius of the Split Rock Supersuite at Ragged Range, as well as finalising preparations to start RC drilling at the Sterling Gold prospect, following up on structurally-controlled anomalous gold in streams and soils.

"We look forward to updating the market as soon as results are available."

At 1154 BST, shares in Thor Mining were down 0.75% at 0.77p.

Reporting by Josh White at Sharecast.com.