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Thor Mining soars on drill results from Bonya deposit

Thor has appointed an independent resource geologist to prepare mineral resource estimates

Thor Mining PLC -

Assays from recent drilling at the Bonya tungsten and copper deposit in Australia have further underlined its potential according to Thor Mining PLC (LON:THR).

Thor (40%) is the operator of a joint venture with Arafura (60%) and is drilling to establish Bonya as a source of ore to extend the life of its nearby Molyhil project.

Latest holes to be drilled showed best results of a 23m intersection at a grade of 0.58% WO3 (tungsten) from the surface at White Violet and a 9m copper band at Samarkand.

Holes at both deposits also intersected grades above 2% tungsten over small widths at depths below 40m.

Mick Billing, Thor’s executive chairman, said: "The Bonya tungsten deposits are delivering robust results which, we believe can add significantly to the economic life and commercial outcomes of the nearby proposed Molyhil project."

There are other prospects to be tested said Billing but White Violet (tungsten), Samarkand (tungsten/copper) and the copper deposit at Bonya will be the focus.

Shares rose 21% to 0.47p.

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Quick facts: Thor Mining PLC

Price: 0.35 GBX

AIM:THR
Market: AIM
Market Cap: £3.77 m
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