viewThor Mining PLC

Thor Mining adds to acreage around Molyhil

The tenements comprise outcropping tungsten deposits in the Bonya Creek area

light bulbs
Outstanding news for Molyhil, says chairman

Thor Mining PLC (LON:THR) is buying a stake in two deposits 30km from its Molyhil project in Australia’s Northern Territory.

The tenements comprise outcropping tungsten deposits in the Bonya Creek area, along with a high-grade copper deposit.

WATCH: Thor Mining to maximise value on its three 'cracking' copper and tungsten projects

Thor will buy 40% of exploration licence EL29701, which hosts 13 outcropping tungsten deposits and a copper deposit, and all 100% of the copper play, EL29599.

The exploration target area is of 3.0 - 4.9 mln tonnes at a grade of 0.3% - 0.5% tungsten trioxide (WO3).

Vendor Rox Resources Limited (ASX:RXL) will receive A$550,000 in Thor shares.

Mick Billing, Thor’s executive chairman, said the additions were outstanding for the Molyhil development. 

“The potential to increase both the scale and the life of the proposed Molyhil operation makes this acquisition compelling. 

“The proximity of the Bonya deposits to Molyhil should add significantly to the projected economic returns, dovetailing with our commercialisation strategy for Molyhil."

Quick facts: Thor Mining PLC

Price: 0.305 GBX

Market: AIM
Market Cap: £3.74 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Thor Mining PLC named herein, including the promotion by the Company of Thor Mining PLC in any Content on the Site, the Company receives from...



Thor Mining to acquire uranium and vanadium assets in US

Thor Mining PLC's (LON:THR)(ASX:THR) Mick Billing speaks to Proactive London's Andrew Scott after entering into an exclusive option to acquire 100% of the shares in American Vanadium Pty Ltd, a private Australian company, with interests in uranium and vanadium. Thor's also raising A$970,000 to...

on 1/6/20

2 min read