Thor Mining PLC (LON:THR) has revealed what it described as positive metallurgical testwork for the Pilot Mountain project in Nevada.
Samples taken from drilling at Pilot Mountain’s Desert scheelite deposit were analysed.
The company highlighted that in testing a scheelite concentrate was produced, assaying more than 68% tungsten trioxide (WO₃). The tests showed a metallurgical recovery rate of 73.6%.
Additionally, following the recovery of the scheelite, analysis of tailings confirmed potentially economic levels of gold. In the initial feed gold was assayed at 0.29 grams per tonne, while in the combined tailings gold measured 0.33 grams per tonne.
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"This is a significant step forward for our 100% owned Pilot Mountain project," said Mick Billing, Thor’s executive chairman.
"The locked cycle testwork has demonstrated production of a high grade scheelite concentrate with good recoveries".
"We are following up the gold potential via extraction of sample pulps from previous testwork which will be re-assayed for gold".
"Significant potential exists for further enhancements to this work which may improve project economic outcomes".
Billing added: “Tungsten remains classified as a critical mineral in the USA, with no domestic tungsten production".
"We continue to have a principle focus on securing off-take and finance agreements for our flagship Molyhil project, and we will keep investors appraised of progress as appropriate. However our other projects, including Pilot Mountain, have significant value and we are committed to continuing to take these forward".