14th Jan 2014 11:53
LONDON (Alliance News) - Thor Mining PLC Tuesday said that, after screen fire assay tests, it has achieved significant upgrades in gold results from its 51% owned Spring Hill gold project in Australia.
The Australian gold, tungsten and molybdenum explorer and developer said that in eight samples between 2.0 and 2.5 grams per tonne gold, the fire screen process increased the average grade by 107% to 4.75 grams per tonne gold from 2.29 grams per tonne gold.
The company said that the process increased the average grade of all sample groups, and 21 samples above 4.0 grams per tonne of gold were increased 8% by the process to 17.91 grams per tonne of gold from 16.54 grams per tonne.
Thor Mining said it is now collecting a selection of samples between 1.0 and 2.0 grams per tonne to conduct the same test process.
Screen fire assays study large pulverised samples which have been passed through a fine screen that are generally identified to contain coarse gold.
Thor Mining shares were down 0.7% to 0.303 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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