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Thor Mining Plc
Summary
| Project: | Molyhil | |
|---|---|---|
| Deposit: | Molyhil | |
| Location: | Australia | |
| Commodities: | Tungsten-Molybdenum | |
| Date: | 6/6/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-6-2019: Thor Mining Plc announces an Exploration/Drilling Update report for its Molyhil deposit at the Molyhil project. Drilling results incl. 92.6m @ 1.0% WO3, 0.16% Mo, 0.13% Cu from 0m. The Board of Thor Mining Plc (“Thor”) (AIM, ASX: THR) is pleased | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Richard Bradley (Internal) | |
| ABSTRACT: | The Board of Thor Mining Plc (“Thor”) (AIM, ASX: THR) is pleased to announce positive assay results from metallurgical bulk sample drilling at the company’s wholly owned Molyhil tungsten molybdenum deposit, in the Northern Territory of Australia. Two PQ (85mm) diamond drill holes were drilled down plunge of the Yacht Club lode to obtain material for production of tungsten and molybdenum concentrate samples for prospective project offtake partners. Only one of the two holes have been assayed with the other to be kept in storage. The holes will not contribute to the mineral resource estimate. Mick Billing, Executive Chairman, commented: “This bulk sample assay result is very encouraging for the Molyhil project.” “It is rewarding to see confirmation of extensive high-grade scheelite mineralisation along with expected grades of molybdenum. It is also very pleasing to see the copper mineralisation at potentially economic levels”. “While the hole design was for the purpose of collecting material most likely to produce sufficient concentrate, rather than for resource purposes, the high-grade nature of the scheelite mineralisation provides further substantial confidence in the Molyhil deposit” “Additionally, copper, while part of historic mineral resource estimates at Molyhil, has not been included in the resource estimate for some time, however recent testwork has shown encouraging results for production of a separate saleable concentrate. While this work has implications for potential production from the nearby Bonya deposits, it is expected to also apply to any copper mineralisation extracted at Molyhil” | |
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