Thor Mining PLC (LON:THR)(ASX:THR) has established an initial mineral resource estimate for the Bonya Copper Mine deposit within the Bonya tenement, held jointly with Arafura Resources Limited (AXS:ARU).
Bonya is adjacent to the Molyhil mine project in the Northern Territory of Australia, with which Thor has had a long involvement.
The Bonya copper resource is satellite to, and amenable for treatment in, the proposed Molyhil process plant.
The inferred resource estimate amounts to 230,000 tonnes, grading 2% copper, containing 4,600 tonnes of copper, with trace levels of tungsten and molybdenum.
The deposit outcrops at surface, and remains open at depth, and has the potential to add six months profitable mine life to Molyhil.
"This small but high-grade copper resource will provide valuable supplementary mill feed to the company's nearby Molyhil process plant," said Thor’s chairman Mick Billing.
“Our primary incentive to acquire an interest in the Bonya exploration licence was, and still remains, the tungsten deposits in the licence area, therefore this "free" copper resource could be considered a bonus."