Thor Mining Gains Most in Four Months on Gold Exploration Result

Thor Mining Plc (THR) rose the most in four months in London after the Australian explorer announced results for a gold project in the country’s Northern Territory.

Thor Mining climbed as much as 18 percent, the biggest gain since April 10. Up to 12 grams a metric ton were returned from sampling at the Spring Hill site, the Perth-based company said.

“We are delighted with this early level of mineralization in the near-surface sections of our drilling,” Executive Chairman Mick Billing said in a statement. “While our main targets are below the areas drilled thus far, the extensive gold mineralization above and east of these is very welcome.”

Drilling tests gold deposits below the known mining hole, Thor Mining said today in the statement. The company will drill deeper and broader holes this year on the basis of the results.

Thor rose 7.9 percent to 1.02 pence by 9:15 a.m. in London.

To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net

To contact the editor responsible for this story: Douglas Lytle at dlytle@bloomberg.net

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