Thor Mining PLC (LON:THR) (ASX:THR) has announced that drilling at the Bonya tungsten deposits adjacent Molyhil, in the Northern Territory of Australia, is to commence following advice from the Aboriginal Areas Protection Authority (AAPA), providing clearance for the planned drilling program.
The Bonya project is held in a 40%/60% joint venture with Arafura Resources Limited (ASX:ARU), with both parties contributing to the cost of the program in proportion to their project equity.
READ: Thor Mining releases Q&A on recent company developments
The AIM-listed group said AAPA clearance has been received for exploration work on five Bonya targets, with a reverse Circulation (RC) drilling program of around 2,500 metres scheduled for each of the Samarkand, Jericho, White Violet, and Tashkent deposits, while sampling trenches – costeans - are to be excavated at surface on the Marrakesh deposit.
The company said drilling is now expected to commence in early April, with further updates expected on drilling progress, preliminary on-site XRF (X-ray fluorescence analysis), followed by formal laboratory assays.
Mick Billing, Thor Mining’s executive chairman, commented: "I am extremely pleased with the news that we can now commence exploration activities on the Bonya tungsten deposits."
He added: "The 13 outcropping tungsten deposits at Bonya, several of which have historical mine workings, have the potential to add considerably to the life, scale, and economic outcomes of the Company's flagship Molyhil project nearby."
In afternoon trading in London, shares in Thor Mining were 3% higher at 0.85p.