6th Jun 2019 11:38
LONDON (Alliance News) - Thor Mining PLC on Thursday reported "encouraging" metallurgical bulk sample drilling results from Molyhil tungsten molybdenum deposit in Australia.
The exploration and development company said two 85 millimetres diamond drill holes were drilled 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, Thor Mining said.
The assay results confirmed extensive high-grade scheelite mineralisation along with expected grades of molybdenum, the company said, whilst also showed the copper mineralisation at potentially economic levels.
"This bulk sample assay result is very encouraging for the Molyhil project," said Executive Chair Mick Billing.
"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," explained Billing.
Thor Mining shares were trading 1.9% higher on Thursday at 0.79 pence each.
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