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Thor Mining Plc
Summary
| Project: | Bonya | |
|---|---|---|
| Deposit: | Bonya | |
| Location: | Australia | |
| Commodities: | Copper-Tungsten | |
| Date: | 6/24/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-6-2019: Thor Mining Plc announces an Exploration/Drilling Update report for its Bonya deposit at the Bonya project. Drilling results incl. 12m @ 0.77% Cu from 22m. Thor Mining Plc (“Thor”) (AIM, ASX: THR) and Arafura Resources Limited (“Arafura”) (ASX: | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Richard Bradey (Internal) | |
| ABSTRACT: | Thor Mining Plc (“Thor”) (AIM, ASX: THR) and Arafura Resources Limited (“Arafura”) (ASX: ARU) are pleased to advise that the final follow up laboratory assay results from the recent Bonya RC drill program confirm the previously reported interim portable XRF results (1st and 7th May 2019). The project is held in joint venture between Arafura (60%) and Thor (40%) with Thor acting as manager. Mick Billing, Executive Chairman of Thor Mining, commented: “It is exciting to have confirmation of very good tungsten results along with exciting copper readings from the White Violet and Samarkand deposits at Bonya.” “These robust, near surface tungsten and copper mineralisation occurrences have significant growth potential and the joint venture will now target near term drilling to both test the extent of the deposits and facilitate reportable mineral resource estimates. “The proposed Molyhil processing facility is designed to extract copper as well as tungsten and molybdenum so any primary copper at Bonya can potentially be extracted at minimal additional cost.” “In the event that follow up drilling leads to the definition of mineral resource estimates, there is potential to add materially to both the life and financial outcomes at the Company’s Molyhil project” Gavin Lockyer, Managing Director of Arafura Resources, commented: “We are pleased with the results of first pass exploration and the joint venture will now focus on planning and executing a subsequent phase of drilling to potentially deliver mineral resources at White Violet and Samarkand.” | |
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