Thor thunders higher on Aussie mine results
Shares in Thor Mining leapt on Wednesday following new published results from its Spring Hill gold project south of Darwin in Australia's Northern Territory.
Shares in Thor Mining leapt on Wednesday following new published results from its Spring Hill gold project south of Darwin in Australia's Northern Territory.
The results specifically covered near-surface sections of the holes at the Spring Hill project which are part of a three pronged approach to test different gold resource options.
The SHDD008A hole returned 11.0 metres (m) at 5.1 grams/tonne (g/t) gold (Au) from 65 metres, including 6.0m at 10.2g/t Au from 66.0m. The SHDD011 hole delivered 59.0m at 1.4g/t Au from 1.0m, and 26.0m at 0.7g/t Au from 71.0m, while the SHDD012 hole returned 5.0m @ 0.6g/t Au from 59.0m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Diamond drilling extensions for each hole will provide core for the main target area of each hole, the firm said, while the diamond tail for the deep Callie hole extending from SHDD009's pre-collar is nearing completion at more than 900 metres depth.
The programme is directed to test the overall continuity of the gold mineralising system below the known Hong Kong lode. As a result, the 2012 holes will aim deeper and have a broader spacing than the drilling carried out last year.
Three holes are planned for this component of the programme totalling 1,050 metres, with the first 100 metres of each hole using reverse circulation (RC) drilling, and the deeper portion with diamond drilling.
Mick Billing, Executive Chairman of Thor Mining, said: "We are delighted with this early level of mineralisation in the near surface sections of our drilling. While our main targets are below the areas drilled thus far, the extensive gold mineralisation above and east of these is very welcome."
The share price rose 15.79% to 1.10p by 08:40.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran