Thor identifies magnetic targets at Ragged Range
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Special Report: Thor has identified a number of significant magnetic targets at its Ragged Range gold and nickel project in Western Australia’s Pilbara region.
Of particular notice is the 5km long Sterling prospect that contains anomalous stream sediment assays of up to 2.2 grams per tonne (g/t) gold that indicates that mineralisation occurs very close to surface.
Thor Mining (ASX:THR) has also identified three isolated, strong magnetic anomalies with no simple geological explanation as priority targets for follow-up.
Executive chairman Mick Billing is excited to see airborne magnetic data that helps explain the occurrence of what appears to be significant gold mineralisation.
“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,” he explained.
“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.”
Earlier this month, the company reported that its third phase of stream sediment sampling had defined four distinct clusters of consistent gold mineralisation at its Ragged Range project.
Ragged Range covers 213sqkm of ground on the eastern boundary of the Greatland Gold Panorama project and predominantly comprises of Eastern Pilbara greenstone, highly prospective for both gold and nickel.
The new Sterling prospect is 5km and between 300m and 500m wide with gold values in the stream sediments increasing towards the structural contact of the Euro Basalt and younger Dalton Suite.
However, no anomalous gold is reported in streams to the west of this contact in the ultramafic Dalton Suite.
Thor noted that while this preliminary model provides an explanation for the location of the stream sediment anomalies, it is expected to improve once drilling begins.
Follow-up sampling is also planned to target the weak magnetic anomalies that extend beyond the previously identified nickel gossan.
This article was developed in collaboration with Thor Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.