Thor Mining PLC (LON:THR) has unveiled maiden mineral resource estimates for the White Violet and Samarkand tungsten and copper deposits, which are located in areas adjacent to its flagship Molyhil project.
White Violet and Samarkand are joint venture project advanced by Thor as manager alongside partner Arafura Resources Limited (ASX:ARU) - with Thor owning 40% and Arafura holding 60%.
At White Violet some 495,000 tonnes of inferred resources have been estimated with grades of 0.22% tungsten trioxide and 0.06% copper, for 1,090 tonnes of tungsten and 300 tonnes of copper respectively.
Samarkland is estimated to have 245,000 tonnes of inferred resources with grades of 0.19% tungsten and 0.13% copper, for 465 tonnes of tungsten and 320 tonnes of copper.
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Thor noted that following these first estimates both deposits remain open at depth, and, in particular, it said that Samarkland shows potential for strike extension for copper mineralisation.
Both are also deemed as being amenable to open cut extraction “for significant components of the resource”.
Each deposit would be considered to be within trucking distance to larger Molyhill project.
Thor executive chair Mick Billing said: “These maiden resources are very significant when combined with the mining inventory of the nearby proposed Molyhil development.
"More work is required, to convert these inferred resources to, at least, Indicated classification, along with other technical, environmental, and social impact assessments, however we have taken very good first steps."
Moreover, he also pointed to further exploration potential: “the Bonya project hosts additional known tungsten and copper deposits, and some high tenor copper strike extension at Samarkand.
“These will be tested in due course, and we expect that they will further contribute to the life and value of the greater Molyhil project."
"A solid improvement in the tungsten price during the December quarter is also a very positive sign."
Arafura managing director Gavin Lockyer, meanwhile, added: “We are pleased to deliver the project's first tungsten resources at White Violet and Samarkand, and feel quietly confident the JV can build further value over time through the discovery and delineation of additional tungsten and/or copper resources."