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THOR ENERGY PLC Investor Presentation 2021
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Investor Presentation
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THOR
MINING PLC
AIM/ASX: THR
OTCQB: THORF
RIU Sydney Resources Round-Up
4-6 May 2021
Nicole Galloway Warland
Managing Director
DISCLAIMER, LEGAL NOTICE & COMPETENT PERSON STATEMENT
This document and all other information (whether in writing or otherwise) which may be made available is:
- Supplied solely for the intended recipient and may not be copied, reproduced, further distributed to any other person or published, in whole or in part, for any purpose.
- Provided confidentially and only to assist the recipient to make independent enquiries.
The distribution or transmission of this document in certain jurisdictions may be restricted by law and therefore persons into whose possession this document comes should inform themselves about and observe any such restrictions. Any such distribution or transmission could result in a violation of the law of such jurisdictions. Neither this document nor any copy of it may be taken to be distributed or transmitted into a jurisdiction which by law restricts or prohibits the same or to any national, citizen or resident thereof or any corporation, partnership or other entity created or organised under the laws thereof. The Company has not taken any action to permit the distribution or transmission of this document in any jurisdiction.
This document and all other information (whether in writing or otherwise) which may be made available or part thereof does not:
- Contain all information that investors and their professional advisers would require to make an informed assessment of the following:
- assets and liabilities, financial position and performance, profits and losses and prospects of the Company; and
- rights and liabilities attaching to the Company's securities.
- Constitute, or form part of, any offer to sell or issue, or any solicitation of an offer to purchase or subscribe for any securities nor shall this document, or any part of it, or the fact of its distribution or transmission, form the basis of, or be relied on, in connection with any contract.
- Constitute a promise or representation as to the future. Recipients must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies which may affect the future operations of the Company or the Company's securities.
No representation or warranty, express or implied, is made or given by or on behalf of the Company, its directors and officers or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this document and all other information (whether in writing or otherwise) which may be made available or part thereof or any further information supplied by or on behalf of the Company or in connection with the Company and no responsibility or liability is accepted for any such information or opinions.
All statements in this document (other than statements of historical fact) are forward looking statements that involve risks and uncertainties. The Company can give no assurance that statements will prove accurate and results and future events could differ materially.
The Company, its directors and officers or any other person:
- Do not accept liability for any loss or damage suffered or incurred by any investor or any other person however caused (including negligence) relating in any way to this document, including (without limitation) the information contained in it, any errors or omissions however caused, or the investor or any other person placing any reliance on this document, its accuracy, completeness, currency or reliability.
- Do not accept any responsibility to inform the recipient or any other person of any matter arising or coming to its notice which may affect any matter referred to in this document.
- To the maximum extent permitted by law, expressly disclaimed and excluded any liability of the Company, its directors and officers or any other person to the recipient or to any other person arising out of this document.
The information in this report that relates to exploration results and exploration targets is based on information compiled by Nicole Galloway Warland, who holds a BSc in applied geology (Hons) and who is a Member of The Australian Institute of Geoscientists. Ms Galloway Warland is an employee of Thor Mining PLC. She has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Nicole Galloway Warland consents to the inclusion in the report of the matters based on her formation in the form and context in which it appears.
THOR
AIM/ASX: THR
OTCQB: THORF
INVESTMENT HIGHLIGHTS
Diverse Portfolio
- Copper – Australia (Three Projects)
- Technical Feasibility Stage
- Direct & Indirect Interest in >400,000t Cu
-
Resource Extension Potential
-
Gold - Australia
-
Greenfields Exploration
-
Uranium and Vanadium - USA
-
Brownfields Exploration
-
Tungsten (Australia & USA)
- Feasibility Study Stage
THOR
AIM/ASX: THR
OTOOB: THORF
INVESTMENT HIGHLIGHTS
Diverse Portfolio
- Copper – Australia (Three Projects)
- Technical Feasibility Stage
- Direct & Indirect Interest in >400,000t Cu
- Resource Extension Potential
- Gold - Australia
- Greenfields Exploration
- Uranium and Vanadium - USA
- Brownfields Exploration
- Tungsten (Australia & USA)
- Feasibility Study Stage
Fully Funded 2021 Program
- Copper - Australia
- Technical Feasibility Stage
- Resource Extension Potential
- Drilling to commence May 2021
- Gold - Australia
- Maiden Drilling Program Ragged Range scheduled for June 2021
- Uranium and Vanadium - USA
- Drilling Adjacent High Grade Historical Production
- Drilling to commence June 2021
THOR
AIM/ASX: THR
OTCQB: THORF
CORPORATE SNAPSHOT
CAPITAL STRUCTURE
| AIM/ASX Code | THR |
|---|---|
| OTCQB Code | THORF |
| Market Cap | A$23M |
| Cash (April 2021) | A$2.1M |
| Debt | NIL |
| Top 20 Shareholders | 58% |
| Directors Interest | 3.5% |
SHARE PRICE PERFORMANCE (ASX)
THOR
AIM/ASX: THR
OTCQB: THORF
BOARD & MANAGEMENT
Mick Billing
Chairman
Accounting
Career includes experience in company management, company secretarial, senior commercial, and CFO roles across the spectrum of mining exploration, production, & project evaluation, including lengthy periods with Bougainville Copper Ltd and WMC Resources Ltd.
Nicole Galloway Warland
Managing Director
Geologist
More than 25 years in mining & exploration in Australia, Eastern Europe & South America. Experience spans from grass roots exploration to project evaluation to open cut & underground mining with a commodity focus of gold, copper/gold, nickel, uranium & lithium.
Mark McGeough
Non-Executive Director
Geologist
An experienced geologist who has explored for gold, IOCG copper-gold, silver-lead-zinc and uranium. Involved in the discovery of the White Dam gold deposit in South Australia and the Theseus uranium deposit in WA. Career includes Chinova Resources, Toro Energy, Xstrata Copper, Mount Isa Mines and AGIP Australia, & was also the Manager of the SA Geological Survey.
Mark Potter
Non-Executive Director
Finance
Currently serves as a Director and Chief Investment Officer of Metal Tiger Plc (AIM:MTR), and is the Founder and a Partner of Sita Capital Partners LLP. He is also Non-Executive Chairman of Artemis Resources (ASX: ARV), a Pilbara gold mining and exploration company, and a Non-Executive Director of Trident Resources plc (AIM: TRR), a mining royalty investment company.
Ray Ridge
CFO
Joint Company Secretary
Accounting
A chartered accountant with over 20 years accounting and commercial management experience. Roles include Senior Audit Manager with Arthur Andersen, Divisional CFO with Elders Ltd, and GM Commercial & Operations at engineering and construction company Parsons Brinckerhoff.
THOR
AIM/ASX: THR
OTCQB: THORF
COPPER IN SOUTH AUSTRALIA
LOCATION
- Alford East – JV Farm-in earning 80% direct interest
- EnviroCopper Limited (ECL) – Thor hold 30% Equity Interest
- Kapunda – ECL earning a 75% interest
- Alford West – ECL earning a 75% interest
GEOLOGY
- Substantial near surface oxidised copper mineralisation, transitioning at depth to readily leachable chalcocite then primary chalcopyrite
- Leachable gold also present
INFRASTRUCTURE
- Located adjacent to mains electricity & sealed highways. Nearby towns should provide workforce on daily commute basis
OBJECTIVE
- Low-Cost production of copper (with some gold credits) using low impact recovery techniques
THOR
AIDENHORN
AIM/ASX: THR
OTOOB: THORF
ALFORD EAST COPPER-GOLD - THOR EARNING 80%
LOCATION
- Approx 150km north-west of Adelaide, South Australia
- Adjacent EnviroCopper Ltd Alford West project
GEOLOGY
- Substantial near surface oxidised copper mineralisation, transitioning at depth to readily leachable chalcocite then primary chalcopyrite
- Leachable gold also present
HISTORY
- Substantial drilling history chasing IOCG targets unveiling oxide mineralisation over several decades
- Multiple intersections of probable ISR amenable mineralisation
(ASX:THR 23 November 2020)
INFRASTRUCTURE
- Located adjacent to mains electricity & sealed highways. Nearby towns should provide workforce on daily commute basis
INFERRED MINERAL RESOURCE ESTIMATION
- 177,000t of contained Copper and 71,500oz of contained gold
THOR
AIDENDALE, P.L.C.
AIM/ASX: THR
OTOOB: THORF
SIGNIFICANT CONTAINED COPPER WITH GROWTH POTENTIAL
- Inferred Mineral Resource Estimated based solely on historic drilling
- Significant Growth Potential – along strike and at depth
Inferred Mineral Resource Estimate for the Alford East Project – 22nd January 2021 – 0.05% Cu cut-off (oxide material only) (ASX Jan 27 2021)
| Prospect | Tonnes (Mt) | Cu % | Au g/t | Contained Cu (t) | Contained Au (oz) |
|---|---|---|---|---|---|
| Alford East | 85.3 | 0.12 | 0.021 | 104,000 | 57,000 |
| Netherleigh Park | 31.3 | 0.19 | 0.008 | 61,000 | 8,000 |
| Liaway | 40.3 | 0.18 | 0.011 | 73,000 | 14,500 |
| Total | 125.6 | 0.14 | 0.018 | 177,000 | 71,500 |
- Thor Mining PLC to acquire 80% interest in the Alford East Project
- All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.
- The Company is not aware of any information or data which would materially affect this previously announced resource estimate, and all assumptions and technical parameters relevant to the estimate remain unchanged.
THOR
MINING PLC
AIM/ASX: THR
OTCQB: THORF
DRILLING TO COMMENCE IN MAY
- Inferred Mineral Resource Estimated based solely on historic drilling
- Significant Growth Potential – along strike and at depth
- Diamond drilling to commence May 2021
THOR
AIDIUMO PLOT
AIM/ASX: THR
OTOOB: THORF
ENVIROCOPPER LTD – THOR INTEREST 30%
LOCATION
- Kapunda - 90km north of city of Adelaide
- Alford West - 150km north-west of Adelaide
GEOLOGY
- Substantial near surface oxidised copper mineralisation, transitioning at depth to readily leachable chalcocite then primary chalcopyrite
- Leachable gold also present
HISTORY
- Kapunda - Birth of Australian Copper Mining History
- Both areas mined extensively during the latter half of the 19th Century
INFRASTRUCTURE
- Located adjacent to mains electricity & sealed highways. Nearby towns should provide workforce on daily commute basis
RESOURCE
- Kapunda - Inferred Resource of 47.4Mt for 119,000t Cu suitable for ISR (ASX 12 Feb 2018)
- Alford West - Inferred Resource of 66.1Mt for 114,000t Cu suitable for ISR (ASX 15 Aug 2019)
- Significant Resource Upside
$2.85M Commonwealth Government Grant into Copper & Gold ISR Production
(CRC Program – Co-operative Research)
THOR
AIDENDS TCO
AIM/ASX: THR
OTCQB: THORF
OVER 235,000t OF CONTAINED COPPER
KAPUNDA COPPER RESOURCE ESTIMATE (12 FEB 2018)
| RESOURCE | COPPER | |||
|---|---|---|---|---|
| MINERALISATION | CLASSIFICATION | MT | GRADE % | CU METAL (T) |
| Copper Oxide | Inferred | 30.3 | 0.24 | 73,000 |
| Secondary Copper Sulphide | Inferred | 17.1 | 0.27 | 46,000 |
| SUB TOTAL | 47.4 | 0.25 | 119,000 |
ALFORD WEST COPPER RESOURCE ESTIMATE (15 AUG 2019)
| RESOURCE CLASSIFICATION | DEPOSIT | TONNES (MT) | CU (%) | CU (METAL T) | AU (G/T) | AU (OZ) |
|---|---|---|---|---|---|---|
| Inferred | Wombat | 46.5 | 0.17 | 80,000 | ||
| Bruce | 11.8 | 0.19 | 22,000 | |||
| Larwood | 7.8 | 0.15 | 12,000 | 0.04 | 10,000 | |
| TOTAL | 66.1 | 0.17 | 114,000 |
- Thor Mining PLC is acquiring up to a 22.5% equity in these resources
- The Company is not aware of any information or data which would materially affect these previously announced resource estimates, and all assumptions and technical parameters relevant to the estimate remain unchanged
GOLD POTENTIAL
- Substantial evidence of gold in ~1/3 of historical drilling
- Best intersection 95metres @ 3.06g/t
- EnviroCopper can extract gold concurrently with copper at Kapunda
ALFORD WEST EXPLORATION TARGET* (7 MARCH 2019)
| TONNAGE (MT) | % CU | |||
|---|---|---|---|---|
| CATEGORY | FROM | TO | FROM | TO |
| Category 1 | 80 | 120 | 0.18 | 0.23 |
| Category 2 | 38 | 45 | 0.18 | 0.23 |
| Category 3 | 120 | 145 | 0.18 | 0.23 |
*Exploration Targets are conceptual in nature and there has been insufficient exploration to define a Mineral Resource under the JORC Code and it is uncertain if further exploration will result in the determination of a Mineral Resource.
THOR
AIM/ASX: THR
OTCQB: THORF
WHY IN-SITU RECOVERY (ISR)
- Large copper-gold oxide resources constrained within structural corridor
- Low cost / low environmental impact metal production
- A solution process rather than a high-cost traditional mining operation (No large pit / no crushing or grinding / no waste dumps etc)
- Substantial Australian government & research body funding grant to fund technical feasibility
- ISR techniques have been utilised commercially in South Australia for >15 years – We have the expertise locally
- Proof of Concept established for Kapunda
- Both copper and gold recovered in recovery test work
- Ground conditions allow the flow of lixiviant fluid through the orebody – confirmed via field testing
THOR
AIM/ASX: THR
OTCQB: THORF
CLEAR PATHWAY TO PRODUCTION
THOR
AIM/ASX: THR
OTCQB: THORF
RAGGED RANGE GOLD – 100% THOR
LOCATION
- Pilbara Region Western Australia
- Located in Area of Proven Gold Production and Resource Potential
GEOLOGY
- East Pilbara Granite-Greenstone Terrane, Archean Pilbara Craton
- Proximity to large scale gold deposits in similar geological setting
- Prospective host rocks – Warrawoona Group
- Favourable structural setting - thrust faulted mafic/ultramafic contact
EXPLORATION
- Stream sediment, soil and rock chip programs completed
- Consistent gold in pan and assays up to 2.2g/t Au (ASX:THR 1 December 2020)
- Airborne Magnetic survey
- Nickel Gossan
- approx. 1.5km strike length x 100m width
- located at the base of the ultramafic unit
THOR
AWARDED PLUS
AIM/ASX: THR
OTOOB: THORF
13km OF GOLD STRIKE POTENTIAL
- 100% control of greenstone belt - Kelly greenstone belt (KGB)
- High tenor stream sediment samples draining SW-NE from interpreted Ultramafic /Mafic thrust faulted contact
- Anomalous Gold reported in pan, in BLEG samples and <2mm samples, assayed by aqua regia –up to 2.2g/t Au (20PST51) (ASX:THR 1 December 2020)
- Strong suggestion that structurally hosted gold extends along the 13-kilometre contact zone- gold corridor
- Anomalous results also reported from close to the Archean granite contact and in NE area of the tenement
- Recent acquisition area host some historical small-scale Au & Cu mines
THOR
AIM/ASX: THR
NEW GOLD TARGETS IDENTIFIED IN AIRBORNE MAGNETIC SURVEY
- Close spaced airborne magnetics survey was flown by MAGSPEC Airborne Surveys Pty Ltd over E46/1190, E46/1262 & E46/1355 (ASX:THR 6 October 2020)
- High resolution airborne magnetics data defines structural contacts and lithological boundaries prospective for gold mineralisation
- Anomalous stream sediment gold assays clearly relate to the structural contact of the Euro Basalt and ultra mafic Dalton Suite, along the 13km gold trend
- Open folding to NE of contact, tight, faulted folding to SW
- Geological Model – Local analogue to Warrawoona Gold Project, Calidus Resources
MRE: 43.7Mt @ 1.06 g/t Au g/t for 1.5 M oz (Calidus Website)
ASVI (Analytic signal of the vertical integral) image over geology
THOR
AIRBORNE TECH
AIM/ASX: THR
OTOOB: THORF
DRILLING TO COMMENCE JUNE 2021
- Soil Sampling Program completed April 2021 – awaiting assay results
- Successful WA Government (DMIRS) co-funded drilling grant - $160,000
- RC drilling program to commence June 2021
THOR
AIM/ASX: THR
OTOOB: THORF
US URANIUM & VANADIUM – 100% THOR
LOCATION
- Located SE Utah & SW Colorado USA – Uravan Mineral Belt
- 400km south-west of city of Denver
HISTORY
- Strong mining heritage dating back to the early 1920's
- historical high-grade uranium & vanadium production
INFRASTRUCTURE
- Nearby processing plant with available capacity
- (historically taken ore for toll treatment)
GEOLOGY
- Shallow high-grade uranium – vanadium targets
- ‘Saltwash Type’ sandstone filled paleochannels hosting uranium & vanadium
- Field sampling returned high grade uranium (up to 1.25% U₃O₈) and vanadium (up to 3.4% V₂O₅)
(ASX:THR 21 July 2020)
THOR
AIM/ASX: THR
OTCQB: THORF
DRILLING IN JUNE
NEXT STEPS
- Drilling Program scheduled to commence June 2021
- Drilling to target high grade uranium and vanadium mineralisation along strike at 3 area:
- Rim Rock
- Groundhog, and
- Section 23
- Section 23 has not been previously tested
THOR
AIM/ASX: THR
OTOOB: THORF
KEY TAKEAWAYS
STRONG NEWS FLOW OVER THE NEXT THREE MONTHS
FULLY FUNDED - Focussed on copper resources, plus gold & uranium discoveries...
Drilling
- Ragged Range – gold targets
- US Uranium - uranium and vanadium targets
- Alford - copper-gold resource extension
- Kapunda - copper-gold ISR technical feasibility study
Modest market cap leveraged for exploration success
THOR
AIM/ASX: THR
OTCQB: THORF
For further information
AIM/ASX: THR
OTCQB: THORF
Thor Mining Plc is an exploration and development company with a diverse portfolio of projects located in Australia and USA. We are focussed on developing copper and tungsten resources and exploration discoveries in gold and uranium.
The Board of Thor Mining Plc authorised this announcement to be given to the ASX
Contact: Nicole Galloway Warland
Managing Director
M:+61 417 006 431
[email protected]
www.thormining.com
Adelaide Office
58 Galway Ave, Marleston SA 5033
P: +61 8 7324 1935
F:+61 8 8351 5169
Twitter: @ThorMining
THOR MINING PLC