Thor Mining PLC (LON:THR)(ASX:THR) has revealed the preliminary results from the second round of drilling at the White Violet deposit on the Bonya project, adjacent to the company's Molyhil project, in the Northern Territory of Australia.
The Bonya project is held in joint venture between Arafura Resources Limited (60%) and Thor (40%) with Thor acting as manager, and each party contributing to the cost according to their equity.
A total of 11 holes were drilled at White Violet to complete the program for that deposit. The drill rig has now moved to the Samarkand deposit for the second part of the program.
READ: Here's what analyst Ryan Long has to say about the Thor results
Among the highlights evealed by XRF analysis were 20 metres grading 0.24% WO3 (tungsten tri-oxide) from two metres, including eight metres at 0.38% copper, eight metres at 0.24% WO3, 14metres at 0.23% WO3 and two metres at 0.71% WO3.
Tungsten-bearing mineralisation at White Violet has been extended by this drilling campaign by 40 metres to both the east and west with a total strike length of 120 metres and vertical depth of 110 metres.
"It is very exciting to have confirmation of both consistency of mineralisation and extensions to strike at the White Violet deposit,” Thor’s executive chairman Mick Billing said in a statement. "Tungsten grades continue to be positive, and it is also pleasing to see further evidence of copper mineralisation."
"The key Thor driver for drilling at Bonya is to add to the Molyhil area mining inventory with an objective of a minimum of ten years total open pit mining and processing. These results, subject to assay and follow up resource work, should, we expect, go quite some way towards meeting that objective," he added.