Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) said results from two drill holes at its Molyhil critical minerals project in Australia showed the tungsten-molybdenum-copper mineralisation extends along strike, to the south of the Molyhil resource.
One of the drill holes intercepted 46 metres (m) at 0.06% tungsten trioxide, 0.05% molybdenum and 0.04% copper from a depth of 249m.
The company added grades from the assay results were lower than the visible grade estimates and resulted in the samples being resubmitted for analysis.
"Although we were disappointed by the assay results, the presence of a 46m intersection of magnetite skarn and weakly disseminated tungsten-molybdenum-copper mineralisation is very encouraging,” said managing director Nicole Galloway Warland.
“Exploring for this style of mineralisation is difficult without the presence of significant amounts of magnetite that can be easily defined in magnetic surveys. Other magnetic targets along strike show the potential for further mineralisation at Molyhil."
The newly discovered extension to the south of the Molyhil deposit validated the 3D modelling of the geology, magnetics and mineralisation that has identified further high priority targets for drill testing.