INVESTOR UPDATE

High-grade Rare Earth Discovery at Alford East Project, South Australia

Read the full ASX release
The directors of Thor Energy Plc (“Thor” or the “Company”) (AIM, ASX: THR, OTCQB: THORF) are pleased to announce new Rare Earth Element (REE) drill results from a review of the previously announced 2021 Copper and Gold drilling at the Alford East Project, South Australia (SA).

HIGHLIGHTS

Significant REE drill intercepts (>500ppm TREO1) include: 

21AED005: 
• 36.7m @ 1568ppm (0.16%) TREO & 1.2% Cu from 6.3m,
 including 11.8m @ 2095 ppm (0.21%) TREO and 1.2% Cu from 10m, and

• 11m @ 2088ppm (0.21%) TREO and 0.8% Cu from 47m,
 o including 2m @ 5042ppm (0.5%) TREO from 47m

21AED002: 
• 11.6m @ 1699ppm (0.17% ) TREO and 0.26% Cu from 30.4m
 o including 6.1m @ 2262ppm (0.22%) TREO from 34.0m

21AED001: 
• 16.8m @ 1721ppm (0.17%) TREO and 0.5% Cu from 91.4m

21AED006:
• 29m @ 959ppm (0.1%) TREO from 20m, and
• 6.1m @ 1171ppm (0.12%) TREO and 0.1% Cu from 81m,
 o including 1.7m @ 3139ppm (0.31%) TRE0 from 84.3m

21AED004: 
• 13.1m @ 1366ppm (0.14%) TREO and 0.5% Cu from 42.8m,
 o including 1.4m @ 2274ppm (0.23%) TREO from 35m

21AED007: 
•15m @ 961ppm (0.1%) and 0.12% Cu from 13m
 o including 1.0m @ 2213ppm (0.22%) TREO from 19m

• A REE review has revealed that eight out of nine of the 2021 diamond drill holes intersected wide zones of highly enriched REE’s in kaolin altered, copper rich oxide zones of IOCG style mineralisation. 

• Mineralisation is open over a ~5km trend as none of the remaining historical drilling at Alford East, to the best of the companies knowledge, has ever been assayed for REE’s. 

I am absolutely delighted to report these thick zones of shallow, high-grade REE intercepts, found to be associated with oxide copper-gold mineralisation at the Alford East Project.

This batch of results compares very favourably in terms of depth, thickness and grade to its peer group in the fledgling Australian REE sector.

Importantly, this discovery has significant potential to be a large deposit based on the ~5km lateral extent of the north-south trending, structurally controlled troughs hosting IOCG mineralisation. It is promising that aside from the nine 2021 diamond drill holes reported today, none of the other historic drilling at Alford East is known to have ever been assayed for REE content.

Priority drill programme design is underway in conjunction with detailed geochemical reviews of the historic drilling, along with further studies on the nature of the REE mineralisation encountered to date.

Read the full ASX release
Play Video

WATCH: Managing Director Nicole Galloway Warland talk to Thomas Warner from Proactive about the latest news, including the potential high-grade rare earth (REE) discovery at Alford East Copper Gold Project which she describes as a “potential gamechanger.”

ABOUT THE

ALFORD COPPER PROJECTS

Thor Mining has an interest in several projects in the copper belt near Alford on the Yorke Peninsula in South Australia and further to the east at Kapunda.

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NEWS

SAEMC – Investor Presentation (December 2023)

Thor Energy Plc is pleased to provide investors with a chance to view the presentation slides from the Investor Presentation titled “Alford East: Accelerating Exploration with Fleet Space Technologies”, delivered by MD Nicole Galloway Warland, at the Annual General Meeting on the 29th of November 2023.

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