Following on from Monday’s project update, Thor today said that assays of both the head sample and the tailings following scheelite recovery showed potentially economic levels of gold.
"This is a significant step forward for our 100% owned Pilot Mountain project," said Mick Billing, Thor 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".