Thor is a mineral exploration and development company with an advanced tungsten/molybdenum project poised for development and exciting precious and base metals exploration projects. The Board seeks to increase shareholder value by systematically exploring its resource portfolio.
Thor’s Directors are experienced in the mineral and finance sectors. They are practised in: evaluating mining assets; raising funds on international capital markets; evaluating acquisition and investment prospects and the day to day management of public companies.
Thor has a portfolio of properties in the Northern Territory of Australia, and in Western Australia.
THE MOLYHIL TUNGSTEN-MOLYBDENUM PROJECT
The Molyhil deposit occurs in two adjacent skarn bodies that contain outcropping molybdenite and scheelite mineralisation. Since mid 2004 it has been the subject of systematic testwork comprised of geophysical exploration, diamond and RC drilling programmes, surface and underground bulk sampling, metallurgical testwork and a geotechnical study.
Subsequent to the completion of the 2006 resource statement, Thor completed a DFS in 2006. The study confirmed that the project is technically and economically viable, with strong financial returns and rapid capital payback.
With the recovery in metal prices in late 2010 and early 2011. Thor are re-evaluating the 2006 feasibility study with the objective of establishing that the project meets the economic criteria necessary for development.
GOLD PROJECTS
Dundas Project
The Dundas Gold Project area is located in Western Australia within the general southerly strike extension of the most gold-rich part of the Yilgarn province, the Wiluna-Kalgoorlie-Norseman greenstone belt. The Directors believe this may impart an enhanced prospectivity to the section of the Albany-Fraser Province containing the project area.
In addition, the tenements are located in a part of the Albany-Fraser Province where the south-westerly grain of the Province is displaced south-eastwards by about 50km. The overprint of a south-easterly structure appears to mimic elements of the Tropicana geology and apparently creates opportunities for dilation of the rock sequence – a structural element generally favourable for mineralization.
The project was acquired in 2010 and exploration work to date has focused on calcrete (surface) sampling followed by shallow bedrock drilling looking for sufficient mineralization to target deeper reverse circulation drilling.
Spring Hill Project
The Spring Hill Gold Project tenements are located approximately 150 km south of Darwin in Australia’s Northern Territory. Importantly the location is served by all-weather access and is in close proximity to the arterial Stuart highway, north–south rail, gas pipeline, and trunk powerlines.
In January 2011 Thor agreed terms to acquire up to an 80% interest in this project.
Spring Hill hosts an Indicated Resource of 274,000oz gold within 3.64Mt @ 2.34 grams per tonne (g/t) gold.
Thor is proposing during 2011 advance investigations into extending the near surface resource, the feasibility of open cut mining and drill testing the deep ‘Callie-style’ discovery target.
BASE METAL AND URANIUM PROJECTS
Harts Range Project
The Harts Range project cover 362km2 of the Proteerozoic Harts Range Ivletarnorphic Complex. The tenements were explored for uranium between 1992 and 1995 following the flying of the airborne radiometric and magnetic surveys. Numerous occurrences of Uranium mineralisation were found, many of which were associated with alteration along structural breaks or contacts.
Thor's exploration program initially focussed on structurally controlled high grade mineralisation and field mapping. An EM survey was conducted in February 2010 with results indicating the potential for base metal mineralisation.
The tenements on which this project if located are granted tenements
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