Thor Mining (ASX: THR, AIM: THR) has been active at the Dundas Gold Project in Western Australia, and in a company update has announced additional 'encouraging' results from further surface geochemical sampling.
Thor has the rights to move to 100% of the Dundas tenements in the future, and currently holds a 60% interest.
The latest highlights include;
- Asgard anomaly expanded a further 1.5 kilometres to the south and remains open;
- New Gimli anomaly identified in the south of E63/872; and
- Further +20ppb reconnaissance calcrete sample in north of E63/1102 indicating a potential anomaly over a 3.5 kilometre north-south strike distance.
Importantly - Dundas is strategically located with the tenements on the general strike extension of the most prolific gold-bearing belt of the Yilgarn province - the 700 kilometre Wiluna-Kalgoorlie-Norseman greenstone belt, in an area where the trend of the Albany-Fraser belt is displaced south-eastwards by about 50 kilometres.
The Albany-Fraser belt hosts a number of recent gold discoveries including the plus 5 million ounce Tropicana gold deposit, and other discoveries including Hercules, Beachcomber, Socrates, Corvette, and Corona.
Moving exploration forward, the next step is permitting for air-core drill testing of the bedrock below the BIFROST and ALGRON calcrete anomalies, which has progressed with a forecast start date in the June quarter 2012.
Preparation for drilling of subsequent targets including the southern extension of ASGARD and the new GIMLI anomaly will also commence.