Thor Mining PLC (LON:THR) says the second half of the year will likely be as busy as the first, with a new drill program earmarked for the Pilot Mountain tungsten project in Nevada and the potential acquisition of the remaining 75% of a US lithium explorer.
Last month, Thor jumped into the lithium buzz, announcing the acquisition of a 25% stake in US Lithium Pty Limited (USL), which owns projects in Arizona and New Mexico, from Pembridge Resources, using existing cash.
WATCH: Thor Mining's Mick Billing looking ahead to 'an even busier' second half
Updating on strategy, Thor chief executive Mick Billing said: "We are very pleased to have delivered on all forecasted activities for the first half of the year, and the second half, which, following the completion of the conditional placing, will be fully funded, looks equally exciting.
"The Pilot Mountain drilling program at Good Hope and Desert Scheelite, to commence in August, demonstrates our strong belief that Pilot Mountain will become a very significant multi commodity deposit.
"The new exploration licence adjacent Molyhil could deliver additional mineralisation to add critical mass to Molyhil and we look forward to developing exploration plans for this."
Billing added that Thor continued to focus on several attractive copper deposits.
Among the highlights of the first half gone was the 55% increase in the resource at Pilot Mountain and the sale of the Spring Hill gold project, bringing in A$1.5mln in February.