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Thor Mining welcomes maiden mineral resource estimate from Hawkstone’s Big Sandy lithium project

Thor Mining has a diverse portfolio of assets in the US and Australia

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Lithium is in high demand for use in the next generation of batteries

Thor Mining PLC (LON:THR)(ASX:THR) has noted the publication of a maiden resource for the Big Sandy lithium deposit in Arizona.

Hawkstone Mining Ltd (ASX:HWK) owns 100% owner of the Big Sandy project, but Thor 1.075% stake in Hawkstone, a holding which may rise if Hawkstone can meet certain milestones.

As it stands the has a has announced an indicated and inferred resource 32.5mln tonnes grading 1,850 parts per million (ppm) lithium, or 320,800 tonnes lithium carbonate equivalent.

"We welcome the maiden mineral resource estimate for the Big Sandy project," said Thor executive chairman Mick Billing.

 "Hawkstone have regularly, over the past year or so, improved the outlook for Big Sandy and, in so doing, the value of our Hawkstone investment."

"We look forward to confirmation from Hawkstone that the maiden resource estimate satisfies the requirement for the issue of the additional shares representing 50% of the sale consideration."

 

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Price: 0.24 GBX

AIM:THR
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