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Thor Mining Plc
Summary
| Project: | Molyhil | |
|---|---|---|
| Deposit: | Molyhil | |
| Location: | Australia | |
| Commodities: | Titanium-Iron-Tungsten | |
| Date: | 10/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-10-2016: Thor Mining Plc announces an Exploration/Drilling Update report for its Molyhil deposit at the Molyhil project. Shallow RAB assay results incl. Cu up to 220ppm. The Board of Thor Mining Plc (“Thor” or the “Company”) (AIM, ASX: THR) is pleased | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Richard Bradey (Internal) | |
| ABSTRACT: | The Board of Thor Mining Plc (“Thor” or the “Company”) (AIM, ASX: THR) is pleased to provide an update regarding positive exploration work conducted at the Company’s wholly owned Tungsten-Molybdenum Molyhil Project (“Molyhil”) situated in the Northern Territory of Australia. Mr Mick Billing, Executive Chairman, commented: “I am pleased to report further material progress in our campaign to further enhance the value and project economics of Molyhil. In today’s challenging resource environment mineral development companies are ideally placed with advanced projects, and Molyhil falls into that category with a Definitive Feasibility Study already complete. We are now going about the business of building our knowledge and the inherent value of Molyhil, and today’s announcement marks some great progress in this regard. The fertility of the Cattle Track and Gap Track prospects has been enhanced. Whilst the number of holes in each of these targets is, both limited and quite widely spaced, we have identified both geochemical signature and geology indicative of potential mineralisation. Further drilling on each of these targets is warranted and will be scheduled and additional announcements will therefore follow. In addition Thor will be providing further updates in the near term with regard to the Company’s Pilot Mountain, Nevada project and specifically the efficient route we have identified to significantly increase the in-situ resource at that project. Finally the Company remains highly proactive in the review of new opportunities. We hope to provide a further update to market in this regard at the earliest opportunity.” | |
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