Thor Mining PLC


Stage of development: Exploration, Development
Primary minerals: Gold, Copper, Tungsten-Molybdenum, Uranium
Project to promote: Ragged Range, Alford East
Project location: Australia, USA


Thor Mining PLC is an exploration and development company with an exciting copper development project with resource estimates, and a gold project which has produced exciting early results. Thor also holds an advanced tungsten/molybdenum project ready for development.

Thor’s Directors are experienced in the mining 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 and mining operations.

Thor has projects in Australia in the Northern Territory, Western Australia, and South Australia. Thor also owns the Pilot Mountain tungsten project in Nevada USA, and uranium and vanadium exploration claims in Colorado and Utah.

Cash: AUD$2.78M (March 2022)

Major shareholders:
Barclays Bank PLC – 7.96%
HBOS Investment Fund Managers – 6.23%
Jarvis Securities PLC, Asset Management Arm – 5.38%
Michael Robert Billing – 3.27%
Artemis Resources Limited – 2.50%
Management Ownership – 3.50%

Management Profile

Nicole Galloway Warland –  Managing Director

Nicole has more than 25 years in mining & exploration in Australia, Eastern Europe & South America.

Her 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. Nicole is also a Director at Australian Institute of Geoscientists (AIG) and Non-Executive Director of EnviroCopper.

What is your rationale for taking part 121 Mining Investment?

Attending 121 Mining online provides us with the opportunity to update the investor and analyst community and broaden our investor base.

What recent news would you like to highlight to investors attending?

10 October 2022 – Drilling Commences at Kelly’s Prospect, Ragged Range WA


Thor announces the commencement of a drilling program at the Company’s 100% owned Kelly’s Prospect within the Ragged Range Project, located in Eastern Pilbara, Western Australia.

Project highlights:

– 2,000m reverse circulation (“RC”) drilling program has commenced at the Kelly’s Prospect, Ragged Range

– Drilling is designed to follow up on rock chip samples returning up to 15.5 g/t Au and 535g/t Ag, and a historic drill intercept of 1.5m @ 22.97g/t Au (DDHK2 drilled in 19691).

– Drilling is targeting the sheared contact of the Euro Basalt and Boobina Porphyry that forms a silicified ridge, extending over 1 km.

– The drilling program also includes 1-3 drillholes beneath high-grade copper workings – Kelly’s (produced 609t of cupreous ore with a grade of 19% Cu, mined 1955-1970).


26 September 2022 – US Uranium and Vanadium Drilling Commences at Wedding Bell Project


Thor announces that drilling has commenced at the Company’s 100%-owned Wedding Bell and Radium Mountain Projects, located in the historic uranium-vanadium mining district within the Uravan Mineral Belt, southwest Colorado, USA.

– Maiden 2000m drilling program has commenced at the priority Rim Rock, Groundhog and Section 23 prospects within the Wedding Bell and Radium Mountain Projects.

– Drilling will target the prospective ‘Salt Wash’ horizon of sandstone-hosted uranium and vanadium mineralisation at shallow depths (~ 80m) for total drilling up to 2000m.

– Drilling at Rim Rock and Groundhog Prospects is designed to test extensions to high-grade uranium and vanadium mineralisation sampled within and around historic workings of up to 1.25% Uranium (U3O8) and 3.47% Vanadium (V2O5).

– A fenceline of drillholes at Section 23 Prospect will be the first holes drilled into this highly prospective area.

– The Wedding Bell and Radium Mountain Prospects are easy to access and close to excellent infrastructure.


20 September – Off-hole Electromagnetic Conductor identified beneath Nickel Gossan, Ragged Range Project, WA


Thor announces that anomalous nickel assays results from RC drilling have been returned and that an off-hole conductive anomaly has been identified from a subsequent down-hole electromagnetic geophysics survey at the Krona Prospect, within the Company’s 100% owned Ragged Range Project, located in the Eastern Pilbara, Western Australia.

– The shallow conductor, identified from the recent high-powered Fixed Loop Electromagnetics (FLEM) ground geophysics survey beneath the nickel gossan at the Krona Prospect, was drill tested with one RC drill hole

– The drill hole intersected the edge of the modelled FLEM conductor.

– A down-hole electromagnetic (DHEM) geophysics survey was completed and revealed an off-hole conductor consistent with sulphides and warrants drill testing to validate.

– The nickel gossan is located at the basal contact of the Dalton Suite ultramafic unit (altered Archean Komatiite) in the classic location for nickel-copper sulphide



9 August 2022 – OZ Minerals Funding Kapunda Copper ISR Project, South Australia


Thor announces OZ Minerals Limited (ASX:OZL) (“OZL”) funding for technical investigations into In-Situ Recovery (“ISR”) technology at the EnviroCopper Ltd (“ECL”), Kapunda copper-gold ISR Project, in South Australia. Thor owns 30% equity in ECL.


– OZL has committed AUD$2.5 million over 18 months to support ISR research at the Kapunda project.

– Funding is non – dilutive to Thor’s 30% interest in ECL.

– OZL funding will continue studies into the potential economic extraction of copper resources via ISR.


– Collaboration between ECL and OZL will commence this quarter.

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Continue exploration and drilling at Ragged Range Resource upgrade at Alford East Project

6 Months:
Discovery success at Ragged Range Scoping Study/PFS at Alford East Project

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Border closures and restrictions with COVID-19 – Company has now established experienced geological teams in each state to progress exploration activities.

What do you think makes your company such a compelling investment?

Exciting and diverse portfolio of quality projects in highly prospective jurisdictions. Opportunity for investor to get involved early, with company poised for growth via exploration discoveries and project development. Modest Market Cap leveraged for exploration success.

What are the top 3 key investor takeaways?

Quality Projects
Strong news flow on all projects over the next 3-6 months – drilling
Fully funded to achieve gold -copper discoveries and resources