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Thor Mining In Trading Halt After 53% Jump In Share Price

Thor Mining (ASX: THR) is in a trading halt after a large 53.85% jump in the share price today on good trading volume.

Thor is to release preliminary assays from drilling at its Spring Hill Gold Project in the Northern Territory.

The company said a number of assays had been received from some of the holes drilled, however the complete set and necessary interpretation were not yet available.

Last month Thor revealed it had discovered near surface gold mineralisation of up to 12 grams per tonne (g/t), above the intended Hong Kong lode target.

Spring Hill, which has a JORC Resource of 3.6 million tonnes at 2.34g/t for a contained 274,000 ounces of gold, has not being tested to more than 150 metres in depth, with mineralisation open at depth on almost all sections.

Thor has outlined a three pronged approach for 2012 to test different gold resource options presenting at Spring Hill.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Monday 17 September 2012.

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