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

Simon Mugo trader
Updated 15 Oct 2020

Practice Stock Trading
Thor Mining logo

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.

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 has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading