16th Jan 2020 13:25
(Alliance News) - Thor Mining PLC on Thursday reported "encouraging" results from early survey work at its Pilbara tenements in the state of Western Australia.
The reconnaissance survey, taken on 44 sites across the licence, contained three samples with gold grades of 0.3 grammes per tonne and one sample of 0.9 grammes per tonne of gold.
Executive Chair Mick Billing said: "Very encouraging results from our initial reconnaissance survey on this ground, with plenty of follow up targets, focussing on gold, nickel & chrome.
"The next phase or work here is likely to comprise further detailed stream sediment sampling, and soil sampling to confirm and extend these results, along with geological mapping."
The survey results follow earlier sample work conducted at Pilbara, which Thor in November said showed "visible gold" was found in 13 out of 44 sediment sites selected.
Thor shares were 9.2% lower at 0.395 pence each in London on Thursday afternoon.
By Eric Cunha; [email protected]
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