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Thor Mining completes second round of drilling at Bonya tungsten project

"We are very pleased to see preliminary good grades of both tungsten and copper, particularly at shallow depths at Samarkand, following excellent earlier reported preliminary results at White Violet."

Thor Mining PLC -
Thor's geology hammer

Thor Mining PLC (LON:THR) told investors that a second round of drilling has been completed at the Bonya project, in Australia’s Northern Territory.

Bonya, 40% owned by Thor, is located adjacent ot the company’s flagship Molyhil project.

Latest drilling has confirmed tungsten mineralisation in the White Violet area, which is now extended by 40 metres to give a total strike of 120 metres horizontally and up to 110 metres vertically.

READ: Thor Mining blooming after White Violet drilling results

Eleven holes were drilled at Bonya’s White Violet area, and, eight were drilled in the Samarkland area.

Highlight results from Samarkland date show high grades, including 0.86% tungsten across two metres and 0.33% over 44 metres – albeit the company noted that these findings should only be considered as preliminary analysis.

In all, some 1,386 metres of drilling was undertaken.

"We are very pleased to see preliminary good grades of both tungsten and copper, particularly at shallow depths at Samarkand, following excellent earlier reported preliminary results at White Violet," said Mick Billing, Thor executive chairman.

"Our consistent objective for drilling at Bonya is to add to the Molyhil area mining inventory, and aim for a minimum life of ten years open pit mining and processing.  These results, subject to assay and follow up resource work, are a very positive step towards that objective."

Quick facts: Thor Mining PLC

Price: 0.38 GBX

AIM:THR
Market: AIM
Market Cap: £4.09 m
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Thor Mining's Mick Billing highlights 'significant value' in its core assets

Thor Mining's (LON:THR) Mick Billing tells Proactive London's Andrew Scott they're continuing to advance exploration activities at Bonya to add value to the Molyhil project. He says drill results have so far been encouraging with higher than expected grades at White Violet.  He...

on 27/11/19

2 min read