Thor Mining PLC (ASX:LON:THR) Completion of Drilling – Bonya Project

The directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR) are pleased to advise completion of the second round of drilling at the Bonya project, adjacent Molyhil, in the Northern Territory of Australia (Figure 1).

The Bonya project is held in joint venture between Arafura Resources Limited (60%) and Thor (40%) with Thor acting as manager, and each party contributing to the cost according to their equity.

A total of eleven holes were drilled at White Violet, and a further eight holes at Samarkand to complete the program with 1,386 metres drilled in total.

The following results obtained via portable X-Ray Fluorescence (“XRF”) determination should be considered preliminary and subject to confirmation by subsequent geochemical analysis. The geochemical analysis results may vary from those obtained from XRF.

HIGHLIGHTS:

· Tungsten-bearing mineralisation at White Violet extended by 40 metres to both the east and west with a total strike length of 120 metres and vertical depth of 110 metres.

· High grade tungsten intercepts previously reported at White Violet from holes 19RC034, 19RC035, 19RC037, and 19RC039 (ref announcement of 11 November 2019).

· Four metres @ 0.23% WO3 from 10 metres from Samarkand hole 19RC044.

· Four metres @ 0.27% Cu from 19 metres from Samarkand hole 19RC045.

· Seven metres @ 0.33% WO3 from 44 metres, and two metres @ 0.86% WO3 from 79 metres, plus 10 metres @ 0.53% Cu from 26 metres from Samarkand hole 19RC046.

· One metre @ 1.35% WO3 from 19 metres from Samarkand hole 19RC048.

Mr Mick Billing, Executive Chairman, commented:

“We are very pleased to see preliminary good grades of both tungsten and copper, particularly at shallow depths at Samarkand, following excellent earlier reported preliminary results at White Violet.”

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“Our consistent objective for drilling at Bonya is to add to the Molyhil area mining inventory, and aim for a minimum life of ten years open pit mining and processing. These results, subject to assay and follow up resource work, are a very positive step towards that objective.”

Drill samples have been despatched for formal laboratory analysis. Preliminary XRF results, including previously announced for the White Violet deposit, are summarised for each hole in Table A.

Full RNS LINK 


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