Proactive Investors - Run By Investors For Investors

Thor Mining increases mineral resource estimate for Desert Scheelite deposit at Pilot Mountain

Mick Billing, Thor Mining’s executive chairman, commented: "This addition to the resource estimate at Pilot Mountain further enhances the potential of this exciting project"
Zinc
The group added that the estimate includes zinc in the resource inventory for the first time, contributing an additional potential by-product stream to the project

Thor Mining PLC (LON:THR) (ASX:THR) has announced an upgraded and increased mineral resource estimate containing tungsten, copper and - for the first time - zinc, for the Desert Scheelite deposit at Pilot Mountain in Nevada USA.

The AIM-listed firm said the Desert Scheelite mineral resource estimate now comprises 10.7mln tonnes at 0.26% of WO₃ (tungsten trioxide), 19.38 gram/tonne of Silver (Ag), 0.15% copper (Cu), and 0.38% zinc (Zn).

WATCH: Thor Mining's Mick Billing discusses high-grade Bonya maiden resource

It said the upgraded mineral resource estimate represents a 6.5% increase in the scheelite inventory for Desert Scheelite, now containing 27,700 tonnes of WO₃,

The group added that the estimate includes zinc in the resource inventory for the first time, contributing an additional potential by-product stream to the project.

It said the planned flotation recovery process, currently being trialled, is likely to recover zinc sulphides into concentrate with minimal additional cost.

Thor said the resource inventory still has considerable growth potential via the Gun Metal and Good Hope deposits, as well as further potential upside at both Desert Scheelite and Garnet.

"Further enhances the potential of this exciting project"

Mick Billing, Thor Mining’s executive chairman, commented: "This addition to the resource estimate at Pilot Mountain further enhances the potential of this exciting project."

He added: "Pilot Mountain hosts a large and, in the directors' view, valuable tungsten resource in the USA, where there has been no primary production of tungsten for some years, despite being classified as a critical mineral by the US Department of the Interior."

"I look forward to outlining the next steps for this key Company project in the coming weeks. This update will complement comprehensive updates across all areas of our operations in what is a highly proactive period for Thor."

The chairman concluded: "In this regard I also expect to provide updates to the market in respect of Molyhil commercialisation, the Bonya project review exercise (including vanadium) and the latest developments in respect of the Company's Kapunda copper project interest."  

View full THR profile View Profile

Thor Mining PLC Timeline

Related Articles

1549471178_Thor-Mining---exploration.jpg
February 06 2019
Thor has been spreading its wings and acquiring new assets lately

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use