2nd Jul 2007 07:00
Thor Mining PLC02 July 2007 THOR MINING PLC MOLYHIL AND HALE RIVER EXPLORATION UPDATE Dated: 2 July 2007 Thor Mining PLC ("the Company" or "Thor"), AIM, ASX: "THR" the specialist metalscompany focused on advancing tungsten-molybdenum and uranium projects in theNorthern Territory of Australia, announces that due to the high-grade nature ofthe results received from the recent drilling program at its MolyhilTungsten-Molybdenum Project ("Molyhil"), duplicate sampling is now required bythe independent consultant who is currently finalising the revised JORCresource. This will delay the completion of the upgraded resource estimate. The revised resource model incorporating final results from the recent drillingis now expected to be finalised by mid-to-late July, allowing for delays inlaboratory processing of the duplicate samples due to the current bottlenecksbeing experienced in assay laboratories in Australia. The requirement for duplicate assays arose from the high-grade results and theneed to check pulp samples in order to confirm the repeatability of results. Theadditional checking process is required to produce a JORC compliant resourceand, ultimately, a mining reserve. Thor also announces that it has commissioned Peter O'Brien and Associates,specialists in geotechnical and mining engineering, to complete a conceptualunderground study for Molyhil based on the updated resource and reserveestimate. The focus of this study will be to consider extensions to mine lifebeyond the current proposed open pit operation. Uranium Exploration The Company is also pleased to advise that reconnaissance air core drilling atits Hale River Uranium Project ("Hale River") in the Northern Territory is nowcomplete, with a total of 28 holes completed for 1,829 metres of drilling. Although both air core and mud rotary drilling techniques were used, drillingcoverage of a number of the proposed Hoist EM targets was incomplete due todifficulties with sample recovery at depth. All samples have now been dispatchedto Adelaide for analysis, with initial results expected in July. JORC Compliance The information in this report that relates to exploration results, mineralresources or ore reserves is based on information compiled by John Young, who isa Member of The Australasian Institute of Mining and Metallurgy. John Young is adirector of Thor Mining PLC. John Young has sufficient experience which isrelevant to the style of mineralisation and type of deposit under considerationand to the activity which he is undertaking to qualify as a Competent Person asdefined in the 2004 Edition of the "Australasian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves". John Young consentsto the inclusion in the report of the matters based on his information in theform and context in which it appears. Enquiries: John Young + 61 (0)419 954 020 Thor Mining PLC Chief Executive OfficerJohn Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated AdviserLeesa Peters 020 7429 6600 Conduit PR Limited Public Relations orJos Simson 020 7429 6603Nicholas Read + 61 (0) 8 9388 1474 Read Corporate Public Relations/Australia Updates on the Company's activities are regularly posted on Thor's websitewww.thormining.com, which includes a facility to register to receive theseupdates by email. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Thor Energy