Thor Mining PLC (ASX:LON:THR) Further High Grade Bulk Sample Assays – Molyhil

The Board of Thor Mining Plc (“Thor”) (AIM, ASX: THR) is pleased to announce further positive assay results from the second metallurgical bulk sample drill hole at the company’s wholly-owned Molyhil tungsten molybdenum deposit, in the Northern Territory of Australia.

The second of two PQ (85mm) diamond drill holes drilled down plunge of the Molyhil Yacht Club lode to obtain material for the production of tungsten and molybdenum concentrate samples has now been assayed.

 

Highlights include;

·      3.5m @ 1.32%WO3 from 9.5m

·      10m @ 0.32% Cu from 44m

·      10m @ 1.32%WO3 from 53m

·      5m @ 1.74%WO3 from 76m including 2m @ 0.81%Mo from 78m and;

·      7m @ 1.58%WO3 from 88m including 4m @ 0.44%Mo from 88m

The holes were designed specifically for production of concentrate samples and will not contribute to the mineral resource estimate.

Following the results, Thor has commissioned RPMGlobal to assess the Molyhil Mineral Resource Estimate for the inclusion of copper.

Mick Billing, Executive Chairman, commented:

“It is very rewarding to have more high tenor bulk sample assay results at Molyhil and to have confirmation of extensive high-grade scheelite and molybdenum mineralisation.”

“The continued confirmation of copper mineralisation at potentially economic levels is also very pleasing.  Thor has commissioned a review of the resource estimate for Molyhil to include this, however until that work is complete, we can ascribe no additional value for any potential copper at this time.

“Since acquiring the Bonya properties, ongoing studies on the combined Molyhil-Bonya project have identified the copper potential of Bonya and its potential suitability for processing at Molyhil (news releases 26 November 2018 and 7 May 2019). This has led to the reappraisal of the economic potential for copper at Molyhil.”

A historic Molyhil Mineral Resource Estimate with copper included is available on the ASX website, and can be viewed, on page 33 of 124, via the following link:

                https://www.asx.com.au/asxpdf/20060817/pdf/3y0txr8b44pkk.pdf 

The information is extracted from the Thor Mining plc ASX listing prospectus issued August 2006 and is available to view on the ASX website. The company confirms that it is not aware of any new information or data in respect of copper values reported at the time, that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates of copper values in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Further Information

The drill program comprised 195.6 metres of PQ (85.5mm diameter) diamond drilling into the Yacht Club lode of the Molyhil deposit. The holes were designed to retrieve high grade mineralisation and as a result are not appropriate for estimating the resource or the mineralisation geometry including true widths.

Hole ID

Deposit

Easting
GDA94
zone 53)

Northing
GDA94
zone 53)

Elevation
(m ASL)

Azi -muth

Dip

Hole depth (m)

Intersection

19DD001

Molyhil

577047

7482977

411

142

-70

97.8

5.5m @0.22% Mo from 9.5m including

    3.5m @ 1.32% WO3 from 9.5m

10m @ 0.32% Cu from 44m including

    1m @ 0.7% WO3 from 49m

10m @ 1.32% WO3 from 53m

5m @ 0.13% Mo from 63m

1m @ 0.14% Mo from 72m

3m @ 0.15% Cu from 73m

5m @ 1.74% WO3 from 76m including

    2m @ 0.81% Mo from 78m

7m @ 0.12% Cu from 79m

7m @ 1.58% WO3 from 88m including

    4m @ 0.44% Mo from 88m, and

    2m @ 0.175% Cu from 91m

2m @ 0.15% Mo from 95m

19RC002

Molyhil

577051

7482973

410.7

144

-55

97.7

92.6 metres @ 1.0% WO₃, 0.16% Mo and 0.13% Cu from 0m

Estimated true width is not available due to inappropriate hole orientation

Table A: Molyhil down plunge metallurgical sample intercepts

 

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