25th Mar 2019 14:14
LONDON (Alliance News) - Thor Mining PLC on Monday said it has been cleared to drill at the Bonya tungsten deposits near its Molyhil project in Australia.
Clearance for drilling has been granted by the Aboriginal Areas Protection Authority for exploration work at five Bonya deposits: Jericho, White Violet, Samarkand and Tashkent. Around 2,500 metres of drilling is planned for each of the deposits.
Drilling is to begin in early April and further updates on drilling progress and analysis are expected.
Bonya is a joint venture between Thor and Arafura Resources Ltd, with Thor owning 40% and Arafura 60%.
Thor Executive Chair Mick Billing said: "I am extremely pleased with the news that we can now commence exploration activities 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."
Shares in Thor were down 2.6% at 0.80 pence in London on Monday.
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