Thor Mining (ASX:THR) reports the presence of tungsten-copper-molybdenum mineralisation following extension drilling at its Molyhil Project in the Northern Territory.
The results, generated by two of three diamond drill (DD) holes, have intercepted disseminated mineralisation hosted within a ‘massive’ magnetite skarn and successfully validates a newly identified 3D magnetic target.
Key intercepts include:
- Hole 21MHDD002: 46m @ 0.06% WO3, 0.05% Mo and 0.04% Cu from 249m, incl. 11m @ 0.05% WO3, 0.13% Mo and 0.06% Cu from 272m
- Hole 21MHDD003: 4m @ 0.13% WO3, 0.08% Mo and 0.06% Cu from 255m
With assays from the DD campaign returned, Thor Mining announces that it is focused on the newly discovered extension of mineralisation to the south of the deposit, as well as the further ‘high-priority’ targets along strike.
Addressing the update, Thor Mining Managing Director Nicole Galloway said: “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.
“the presence of a 46m intersection of magnetite skarn and weakly disseminated tungsten-molybdenum-copper mineralisation is very encouraging”
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 company also notes that while the assay results are lower than visible grade estimates, the identified tungsten-molybdenum-copper skarn extends along strike to the south of the Molyhil Resource.
In addition, this has resulted in the assays being re-submitted for analysis using two different analytical techniques, with additional follow up utilising the coarse reject material.
Moreover, these results have successfully aided in extrapolation of the 3D model along strike and has identified additional ‘high-priority’ drill targets south of the Molyhill deposit.
The Molyhil Project is located about 220km north-east of Alice Springs in the Northern Territory and occurs in two adjacent skarn bodies that contain outcropping molybdenite and scheelite mineralisation.
The project’s associated tenements are 100% owned by Thor Mining and currently boasts a revised Mineral Resource Estimate (MRE) comprising Measured, Indicated and Inferred Mineral Resources of 4.4Mt @ 0.27% WO3, 0.10% Mo and 0.05% Cu using a 0.07% WO3 cut-off.
Images: Thor Mining PLC
