Thor Mining PLC (LON:THR) (ASX:THR) shares rose on Tuesday as the firm said it has commenced a drilling programme at the Bonya tungsten deposits adjacent to its Molyhil project in the Northern Territory of Australia.
The Bonya project is held in a 40:60 joint venture with Arafura Resources Ltd (ASX:ARU), with both parties contributing to the cost of the program in proportion to their project equity.
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The plan is to conduct reverse circulation drilling to the tune of approximately 2,500 metres on four targets: Samarkand, Jericho, White Violet, and Tashkent.
Each deposit has outcropping tungsten at surface, ensuring the drilling is into, or below, previously known mineralisation.
The drilling is expected to take approximately two weeks, with updates expected on drilling progress, preliminary on-site XRF analysis, followed by formal laboratory assays.
"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," said chairman Mick Billing.
"We hope to be able to provide regular updates of progress, including provisional XRF analysis, during the program."
In afternoon trading, shares in Thor Mining were 3.6% higher at 0.72p.
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