30th Apr 2019 16:02
LONDON (Alliance News) - Thor Mining PLC on Tuesday said it has received positive interim results from drilling at the Bonya tungsten deposits in northern Australia.
The stock was trading 6.2% higher on Tuesday at 0.72 pence a share.
The Bonya project is held in joint venture with Arafura Resources Ltd, with both parties contributing to the cost of the programme in proportion to their project equity. Thor Mining has 40% stake in the project with Arafura holding the remaining 60%.
The program comprised 2,184 metres of drilling by reverse circulation method on Samarkand, Jericho, White Violet, and Tashkent deposits, and 200 metres of trench sampling across each of the Marrakesh and Tashkent deposits.
The company said it identified tungsten mineralisation at Tashkent, Jericho and White Violet, with copper only present in White Violet hole.
Thor Mining anticipates full assay results to become available within four weeks.
"These are very exciting interim results, particularly from the White Violet deposit, where results are substantially better than expectations," said Executive Chair Mick Billing.
"We look forward to the interim results from the Samarkand drilling, and also to the full laboratory assays expected during May," added Billing.
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