Mick Billing, Executive Chairman, commented: “I am extremely pleased with the news that we can now commence exploration activities on the Bonya tungsten deposits.”
“The 13 outcropping tungsten deposits at Bonya, several of which have historical mine workings, have the potential to add considerably to the life, scale, and economic outcomes of the Company’s flagship Molyhil project nearby.”
CLEARANCE FOR DRILLING COMMENCEMENT – BONYA TUNGSTEN
The Board of Thor Mining Plc (“Thor”) (AIM, ASX: THR) is pleased to announce that drilling at the Bonya tungsten deposits adjacent Molyhil, in the Northern Territory of Australia, is to commence following advice from the Aboriginal Areas Protection Authority (AAPA) providing clearance for the planned drilling program.
The Bonya project is held in joint venture with Arafura Resources Limited (ASX: “ARU”), with both parties contributing to the cost of the program in proportion to their project equity (THR 40% : ARU 60%)
Highlights:
· Clearance received for exploration work on five Bonya targets by AAPA;
· The reverse Circulation (RC) drilling program of around 2,500 metres is scheduled for each of Samarkand, Jericho, White Violet, and Tashkent deposits;
· Costeans (sampling trenches) to be excavated at surface on the Marrakesh deposit;
· Each deposit has outcropping tungsten at surface, ensuring the drilling is into, or below, previously;
· Drilling now expected to commence early April, with further updates expected on drilling progress, preliminary on-site XRF analysis, followed by formal laboratory assays.
Mick Billing, Executive Chairman, commented: “I am extremely pleased with the news that we can now commence exploration activities on the Bonya tungsten deposits.”
“The 13 outcropping tungsten deposits at Bonya, several of which have historical mine workings, have the potential to add considerably to the life, scale, and economic outcomes of the Company’s flagship Molyhil project nearby.”
Readers wishing to review a diagram outlining the deposits at Bonya may view this on the Company’s website via the following link:
http://thormining.com/-/thor/lib/images/maps/15-001-1B%20Bonya%20Exploration%20Targets.jpg
Further Information
The Northern Territory Aboriginal Areas Protection Authority (AAPA) has now issued the Authority Certificate clearing the way for exploration activities on the Bonya Project Exploration Licence EL29701. Pending re-establishment of access following substantial rain brought about by ex-Tropical Cyclone Trevor, planned exploration activities includes the drilling and additional trench sampling programs to advance the first five of 13 outcropping tungsten deposits at Samarkand, White Violet, Jericho, Tashkent, and Marrakesh.
The program will comprise in the order of 2,500 metres of drilling by Reverse Circulation (RC) method in addition to 200 metres of trench sampling across the outcropping deposits. It is anticipated that the program will be completed within two weeks of commencement with provisional XRF results to follow and assay results after a further four weeks.
