Thor Mining PLC (AIM:THR, OTCQB:THORF, ASX:THR) said more than 45 metres (m) of tungsten-molybdenum-copper mineralisation was intercepted at the Molyhil project in the Northern Territory of Australia.
The second hole of a 1,000m diamond drilling programme confirmed that the newly identified magnetic target to the south of the Molyhil deposit is a continuation (possibly offset) of the Molyhil deposit tungsten-molybdenum-copper mineralisation, it said.
“We are excited to be sharing this new discovery at our Molyhil critical metals project,” said managing director Nicole Galloway Warland.
“Testing a new geological concept, in this case an interpreted magnetic target from 3D modelling to the south of existing mineralisation, has paid off significantly. The tungsten-molybdenum-copper mineralisation is open to the south and the third hole is designed to test this south plunging model.”
Drilling of the third hole is now underway.
“The extension of this mineralisation, directly south of the deposit, in a previously untested area, is pivotal to the overall Molyhil project,” said Galloway Warland.
Molyhil is located 220 kilometres north-east of Alice Springs, and already boasts a 4.4 million tonne tungsten, molybdenum and copper resource.