I really like the gold plays that Thor has Furniture, Its a really big thing to have Trevor Ireland on as a director, epecially as he led the team that discovered Callie. I like having directors of his calibre on board who actually know how and have done it before. To many CEO's put yes men around them and not guys with hefty credentials, but it also says that there on board for a reason and not a wage.
Commenting on the results, the Chairman of Thor, Mr Mick Billing, said today: “These results provide confidence in the potential for early development of an open pit gold mining operation at Spring Hill, and also reinforces our belief that the resource may be substantially larger than initially estimated. More drilling is scheduled for 2012 along with studies to assess the potential for early commencement of mining operations.” Thor also believe that the Spring Hill gold deposit could be an indicator of much more substantial “Callie style” mineralisation at depth. Consequently the Company is targeting a sheeted vein system deeper in the anticline, below the known Spring Hill mineralisation and which it believes has substantial potential. The concept is also scheduled for drill testing by Thor in 2012. About Callie The giant Callie gold mine whose production + resources total more than 5 million ounces of gold with a grade between 5 and 6g/t gold was discovered by a team led by Thor Non Executive Director Trevor Ireland and is in the Tanami Inlier which lies a few hundred kilometres from Spring Hill to the south west. The geological characteristic of the Tanami Inlier and the geological setting of the Callie gold deposit are closely comparable in many respects with those of the Pine Creek Inlier and the Spring Hill gold deposit, respectively.
THR Price at posting:
2.8¢ Sentiment: None Disclosure: Held
