6th Nov 2006 07:00
Thor Mining PLC06 November 2006 THOR MINING PLC Molyhil extension of Tungsten-Molybdenum deposits confirmed Dated: 6 November 2006 Thor Mining PLC ("Thor") the specialist metals company currently focussed onadvancing tungsten-molybdenum and uranium projects in the Northern Territory ofAustralia, today announced significant results from a recently completed programof deep drilling at its Molyhil Tungsten-Molybdenum Project in the NorthernTerritory ("Molyhil"). Highlights • Significant high-grade drill intercepts within magnetite rich black rock skarn zones; and • The Hanging Wall Zone, located just above the Yacht Club ore body, has now been identified as a significant mineralised zone and can be traced for over 100m. The results have confirmed depth extensions at both the Yacht Club and Southernore bodies at Molyhil. The results from the resource deeps drilling programreceived to date are considered to be significant and highlight the potential ofMolyhil beyond the proposed 4 year open pit development. The drilling was designed to test for depth extensions of the Molyhil resource,which currently totals 2.38 million tonnes at a combined Tungsten-Molybdenumuncut grade of 0.80%. Results from all intersections greater than 5m wide down hole were tabulated,the weighted average grade of the intercepts was 0.43% MoS2 and 0.30% WO3, adrill indicated combined grade of 0.73%. At depth the total combined grade issimilar to the overall resource combined grade of 0.80%, however there doesappear to be a trend of increasing Molybdenum rich zones. Results from the mineralised horizon (139m to 155m) in TMRC24 initially appearedto be offset to the east of Yacht Club it now appears to be a down plungeextension of a the Hanging Wall Zone lying above Yacht Club, this had beenintersected by a single hole in an early drilling campaign in 2004. TMRC31 wastargeted approximately 30m south east of TMRC24 and intersected a similar zone170m to 189m down hole, some 85m along strike from the original discovery hole.Further drilling is required to fully delineate this lode which has thepotential to add to the existing JORC resource. TMRC30 drilled to the south and east of the known Southern ore body intersectedthree zones of mineralisation from 135m to 174m. Two of the three zones areelevated in Molybdenum in comparison to Tungsten, this compares well with zonesintersected inTMRC32, collared 30m to the south east. The following results confirm the extensions of Molyhil Tungsten-Molybdenumdeposits. Significant RC Results (> 0.10%) Hole ID Depth From Depth To Width MoS2 WO3 TMRC24 130 131 1Related Shares:
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