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Thor Mining Plc
Summary
| Project: | Pilot Mountain | |
|---|---|---|
| Deposit: | Desert Scheelite, Garnet | |
| Location: | United States | |
| Commodities: | Tungsten-Silver-Copper-Zinc | |
| Date: | 5/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-5-2017: Thor Mining Plc announces a Resource Estimation report for its Desert Scheelite, Garnet deposit at the Pilot Mountain project. Tungsten Resource at Pilot Mountain increases by 55%. The Board of Thor Mining Plc (“Thor” or the “Company”) (AIM, AS | |
| Resources: | (Resource, I+I): 11.73Mt @ 0.28% WO3 for 32720 at project | |
| CP/QP: | [Resources]: Stephen Godfrey (Resource Evaluation Services Pty Ltd.) | |
| ABSTRACT: | The Board of Thor Mining Plc (“Thor” or the “Company”) (AIM, ASX: THR) is pleased to announce a 55% tungsten resource inventory increase at the Company’s wholly owned Pilot Mountain tungsten project in Nevada, USA (figure 1), representing a maiden resource estimate for the Garnet prospect, and an increase in the resource estimate at Desert Scheelite. Following drilling in March this year, an inferred resource estimate for the Garnet deposit has been completed comprising 1.83 million tonnes (Mt) at an average grade of 0.36% WO3 (using cut-off grade of 1,000 ppm WO3). Further, a re-evaluation of the Desert Scheelite deposit has resulted in an upgrading of the resource estimate to 9.9 million tonnes at an average grade of 0.26% WO₃, 19.39 gram/tonne Silver (Ag), and 0.14% copper (Cu)(using cut-off grade of 1,500 ppm WO3, previously 2,000ppm). The total Pilot Mountain resource inventory now stands at 11.73 Million tonnes at 0.28% WO3 (Table 1). Mr Mick Billing, Executive Chairman of Thor: “This is a significant step forward for the Pilot Mountain project. The resource inventory still has considerable growth potential via the GunMetal and Good Hope deposits, as well as more potential upside at Desert Scheelite and Garnet” “Importantly, the grade of mineralisation at Pilot Mountain is relatively high and this underpins the robust nature of the project.” | |
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