29-Sep-05!!!!! NEWS BEI THOR MINING PLC $$$$$$$$$ - 500 Beiträge pro Seite

[LittleNorman]

Aktuelle News bei Thor Mining


Company Thor Mining PLC
TIDM THR
Headline Exploration Update
Released 07:00 29-Sep-05
Number 8882R

THOR MINING PLC


Exploration Update

Dated: 29 September 2005



Thor Mining PLC (“Thor”) the mineral exploration and development company focussed on advancing tungsten and molybdenum projects in the Northern Territory of Australia announces an update on exploration and development activities at its portfolio of molybdenum and tungsten projects in the Northern Territory of Australia, including initial results from bulk sampling and the commencement of a pre-feasibility study at its principle Molyhil Project.


Highlights



·Higher grades reported than in current JORC resource at Molyhil molybdenum-tungsten Project.



·Extraction of bulk samples from second and third shafts continuing, with further results expected.



·Key items of Molyhil pre-feasibility study already underway following excellent bulk sampling results.



·Field exploration underway ahead of schedule at Thring Creek and Hatches Creek projects following successful negotiations with traditional owners.



The Directors believe that the results obtained from this first shaft cross-cut are significant and confirm their view that current JORC resource estimate understates the true head grade of the deposit.

The average combined grade over the 26.1 metres of the first cross cut is 1.01%, which is well in excess of the current combined JORC grade.

The Molyhil Project currently has an indicated resource of 1,530,000 tonnes at 0.32% WO3 and 0.19% MoS2 (combined grade 0.51%) and an inferred resource of 500,000 tonnes at 0.25% WO3 and 0.15% MoS2 (combined grade 0.40%).

The results from all three bulk samples will be used to update the JORC resource. This is expected to be completed in November 2005.

Molyhil Molybdenum-Tungsten Project

The Molyhil Molybdenum-Tungsten Project, which is located 220km north east of Alice Springs within the prospective polymetallic province of the Proterozoic Eastern Arunta Block of the Northern Territory in Australia.

Thor commenced a programme of underground bulk sampling at the Molyhil Project in July 2005 to evaluate the head grade and mineralogical characteristics of the Molyhil deposit.

The exploration programme includes the sinking of three shafts and cross-cuts at the base of each shaft to extract bulk samples from the ore body. The samples from the cross-cut in the first shaft have now been assayed at Australian Laboratory Services in Perth and results include:



From (m)
To (m)
WO3 %
MoS2 %
Combined %


0
2
0.155
0.193
0.35


2
4
0.598
0.300
0.90


4
6
0.109
0.091
0.20


6
8
0.230
0.139
0.37


8
10
0.441
0.178
0.62


10
12
1.043
0.295
1.34


12
14
2.186
0.683
2.87


14
16
2.584
0.736
3.32


16
18
0.119
0.064
0.18


18
20
0.587
0.253
0.84


20
22
1.076
0.235
1.31


22
24
0.317
0.181
0.50


24
26.1
0.247
0.093
0.34

Average
0
26.1
0.746
0.265
1.01




The average combined grade over the 26.1 metres of the cross cut is 1.01%, which is well in excess of the current combined JORC grade.

The Directors believe that the results obtained from this first shaft cross-cut are significant and confirm their view that current JORC resource estimate understates the true head grade of the deposit.

Extraction of bulk samples from the second and third shafts is continuing. Shaft Three is currently at its full depth of 39 metres and the cross-cut extended to approximately 34 metres. Crushing and sampling of bulk samples extracted from this shaft has commenced and results will be available in October 2005.

Shaft Two is currently at a depth of 4 metres and will be sunk to a final depth of 31 metres, with the planned cross-cut to be developed for 37 metres.

During October, activity on site will wind down with the focus of the Company shifting to collation of all the bulk sampling results and expediting the pre-feasibility study on the Molyhil Project.

As a result of the results obtained to date various aspects of the pre-feasibility study have already commenced including:

Metallurgical test work;
The issue of tender documents for sections of the study; and
3. Negotiations for an off-take agreement.

During the last four months, Directors and other representatives of Thor have met with the traditional land owners and representatives of the Central Land Council to keep them updated on site activities. Once the bulk sampling program is completed the site will be rehabilitated.

Thring Creek Project

Discussions with traditional land owners and the Central Land Council have now been concluded in respect to the Thring Creek Project, which is located approximately 24km east of the Molyhil deposit.

As a result of these meetings, Thor has gained access to the Thring Creek site and is currently completing a ground magnetic survey over the Thring Creek magnetic anomalies prior to data interpretation and modelling for drill target definition.

This exploration activity is being carried out ahead of schedule, due to the progress of the negotiations with the traditional owners and their representatives, the Central Land Council.

An Exploration Agreement with the Central Land Council is currently being executed by all parties which should facilitate the formal grant of title.

Hatches Creek Project

Currently all available data for the Hatches Creek project, which comprises a group of three mineral tenements covering an area of 815km2 in the central portion of the Northern Territory, is being digitised and updated maps prepared. Thor’s consultants visited the project recently to undertake ground surveys and meet with the traditional owners and their representatives, the Central Land Council.

Permission was received to undertake low level airborne photographic and low level magnetic surveys which have recently been completed. The interpretation of this data and a further field trip will enable the Company to submit a 2006 exploration plan for the project.

The exploration plan is the next step to enable native title arrangements to be finalised.

JORC Compliance

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Neil Biddle, who is a Member of The Australasian Institute of Mining and Metallurgy. Neil Biddle is a consultant of Thor. Neil Biddle has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Neil Biddle consents to the inclusion in this press release of the matters based on his information in the form and context in which it appears.




Enquiries:

John W Barr
[phone]
Thor Mining PLC
Executive Chairman


John Simpson
020 7512 0191
ARM Corporate Finance Ltd
Nominated Adviser


Amanda Harris
020 7618 8534
Conduit PR
Public Relations



END


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[LittleNorman]

kursziel bis Ende des Jahres laut bullvestor.com

0,30 EURO

[kerschb]

morgen!

bei den news und er bullvestor-empfehlung sollten thor heute eigentlich explodieren!!!!

was is da heute wieda los????

gts

[LittleNorman]

ich denke, die meisten haben angst, weil es ein neuer wert an der börse ist.

[RA2004]

kann einer realtime-kursliste reinstellen??

danke, Ra

[Opla]

[posting]18.074.111 von LittleNorman am 29.09.05 09:44:14[/posting]Das sind doch bisher nur Gerüchte. Habe noch keine BV Empfehlung gesehen...

[Basti05]