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Arafura Resources Ltd

Arafura Resources receives clearance to drill Bonya tungsten

The Bonya project is held in joint venture with operator Thor Mining Plc (ASX:THR) who owns 40%.

 Map showing Molyhil and Bonya Deposits
Drilling will start early April and is expected to take two weeks to complete

Arafura Resources Ltd (ASX:ARU) is set to commence drilling early April at its 60% owned Bonya tungsten project in the Northern Territory.

The reverse circulation (RC) drilling program of around 2,500 metres is scheduled for each of Samarkand, Jericho, White Violet, and Tashkent deposits.

Notably, each deposit has outcropping tungsten at surface, ensuring the drilling is into, or below, previously known mineralisation.

Further updates are expected on drilling progress, preliminary on-site XRF analysis, followed by formal laboratory assays.

READ: Arafura Resources Nolans NdPr project assessed by NAIF ahead of investment decision

Recently at Arafura’s flagship Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory, the federal government revealed it was assessing the project for possible investment.

The Federal Government’s Northern Australia Infrastructure Facility (NAIF) has completed a strategic assessment.

It will now transition the process through a due diligence assessment, which is the final stage in the assessment process before it makes an investment decision.

Quick facts: Arafura Resources Ltd

Price: $0.07

Market: ASX
Market Cap: $62.44 m
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Thor Mining to start drilling at its Bonya deposits as early as next week

Thor Mining PLC's (LON:THR) (ASX:THR) Mick Billing tells Proactive London's Andrew Scott drilling at the Bonya tungsten deposits adjacent to Molyhil, in the Northern Territory of Australia, could start towards the end of next week. The Bonya project is held in a 40%/60% joint venture with...

on 29/3/19

2 min read