Thor Mining PLC (ASX:LON:THR) Preliminary White Violet Drilling Results – Bonya

PRELIMINARY DRILLING RESULTS AT WHITE VIOLET – BONYA PROJECT

The Board of Thor Mining Plc (“Thor”) (AIM, ASX: THR) is pleased to advise positive preliminary results from the second round of drilling at the Bonya project White Violet deposit, adjacent to the Company’s 100% owned Molyhil project, in the Northern Territory of Australia.

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 11 holes were drilled at White Violet to complete the program for that deposit.  The drill rig has now moved to the Samarkand deposit for the 2^nd part of the program.

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:

·    20 metres @ 0.24% WO₃ (tungsten tri-oxide) from 2 metres, including 8 metres @ 0.38% Cu (copper) from 3 metres from hole 19RC034

·     8 metres @ 0.24% WO₃ from 26 metres from hole 19RC035

·     14metres @ 0.23% WO₃ from 65 metres and 8 metres @ 0.63% Cu from 62 metres from hole 19RC037

·     2 metres @ 0.71% WO₃ from 11 metres and 5 metres @ 0.33% WO₃ from 17 metres from hole 19RC039

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

Mr Mick Billing, Executive Chairman, commented: 

“It is very exciting to have confirmation of both consistency of mineralisation and extensions to strike at the White Violet deposit.”

“Tungsten grades continue to be positive, and it is also pleasing to see further evidence of copper mineralisation.”

“The key Thor driver for drilling at Bonya is to add to the Molyhil area mining inventory with an objective of a minimum of ten years total open pit mining and processing.  These results, subject to assay and follow up resource work, should, we expect, go quite some way towards meeting that objective.”

Drilling has been completed at White Violet and is now in progress at the Samarkand deposit. The White Violet preliminary XRF results are summarised for each hole in Table A.  Preliminary results for Samarkand will be announced as they become available.

Table A: Summary of White Violet preliminary XRF results

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.