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Thor Mining Shares Surged 4.1% Today, Here’s Why

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Simon Mugo

Shares of Thor Mining PLC (LON: THR) today surged 4.1% after the company revealed that it had completed the third phase of the gold geochemistry reconnaissance at the Pilbara goldfield tenements in Western Australia.

The program was designed to follow up the success from the stream sediment samples collected across the tenements, which defined a highly anomalous 13 kilometres long gold target zone.

Thor said that the geochemical program focused on the followup stream sediment gold results, with sampling being done upstream toward the potential source rock.

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The miner also conducted some additional reconnaissance sampling and one traverse sampled across the stratigraphy in the anomalous areas.

The geochemical samples are currently in-transit to the Perth laboratory, with assay results anticipated in mid-November.

Thor Mining share price

Tradingview chrt of Thor Mining share price 15102020

Thor Mining shares today surged 4.1% to trade at 0.968p having risen from yesterday’s closing price of 0.930.

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Simon Mugo
Simon Mugo
Contributor

Simon ist Autor und Analyst für den Bereich Finanzwesen und blickt auf über sechs Jahre professionelle Erfahrung als Trader zurück. Er absolvierte einen Bachelor in Mathematik und Informatik und hat eine Leidenschaft für die Finanzmärkte. Simon handelt FX, Rohstoffe und Aktien. Er konzentriert sich auf Price Action Trading.