Thor Mining {AIM, ASX: THR}
Announced that drilling at the Bonya tungsten deposits adjacent Molyhil, in the Northern Territory of Australia, has commenced.
The Bonya project is held in JV with Arafura Resources {ASX:ARU}, with both parties contributing to the cost in proportion to their project equity (THR 40% : ARU 60%).
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Thor Mining {AIM/ASX: THR}
COMMENCEMENT OF DRILLING – BONYA TUNGSTEN
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The Board of Thor Mining Plc (“Thor”) (AIM, ASX: THR) is pleased to announce that
drilling at the Bonya tungsten deposits adjacent Molyhil, in the Northern Territory of
Australia, has commenced.
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The Bonya project is held in joint venture with Arafura Resources Limited (ASX:
“ARU”), with both parties contributing to the cost of the program in proportion to
their project equity (THR 40% : ARU 60%)
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Highlights:
• Reverse Circulation (RC) drilling program of approximately 2,500 metres ;
• Targets scheduled for drill testing comprise Samarkand, Jericho, White Violet,
and Tashkent deposits;
• Costeans (sampling trenches) excavated at surface on the Marrakesh and
Tashkent deposits;
• Each deposit has outcropping tungsten at surface, ensuring the drilling is into,
or below, previously known mineralisation;
• Drilling program expected to take approximately two weeks, with updates
expected on drilling progress, preliminary on-site XRF analysis, followed by
formal laboratory assays.
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Mick Billing, Executive Chairman, commented: “We are very hopeful of positive results from our first drilling and costeaning program on the Bonya tungsten deposits.
The 13 outcropping tungsten deposits at Bonya, several of which have historical mine
workings, have the potential to add considerably to the life, scale, and economic
outcomes of the Company’s flagship Molyhil project nearby.”
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“We hope to be able to provide regular updates of progress, including provisional XRF
analysis, during the program.” “Despite the licence area being part of a known tungsten “province”, it has had no tungsten drilling since the 1970’s, and we are very excited at the commencement of this program, and the potential it brings”.
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