Thor Mining Plc (AIM/ASX: THR) has reported better-than-expected interim results from the drilling at the Bonya tungsten deposits, adjacent to Molyhil, in the Northern Territory of Australia.
The company reported that it identified tungsten mineralisation at Tashkent, Jericho, and White Violet. Meanwhile, copper was identified only in the White Violet hole.
Important results include 29m at 0.75% WO₃ from 81m; and 27m at 0.32% WO₃ from 71m and 16m at 0.43% copper (in the same hole).
The company noted that interim results for three targets should be considered preliminary and subject to confirmation in a subsequent laboratory assay. The assay results are anticipated to be made available within four weeks.
The Bonya Tungsten Project
The Bonya project is held in a joint venture with Arafura Resources Limited (ASX: ARU) with both parties contributing to the cost of the program in proportion to their project equity. Thor Mining has a 40% stake in the project while Arafura holds the remaining 60%.
The project is located approximately 30 kms east of Thor’s 100%-owned Molyhil Tungsten – Molybdenum Project. There are 13 known outcropping tungsten deposits at Bonya.
RC Drill Program at Bonya
The company’s 2,184-metre reverse circulation (RC) drill program targeted the Samarkand, Jericho, White Violet, and Tashkent deposits at Bonya. The program also comprised of approximately 200 metres of trench sampling across each of the Marrakesh and Tashkent deposits.
Positive Drill Results
The company reported that the interim results for three of the four targets were made available following portable x-ray fluorescence (XRF) determination.
Thor said that tungsten mineralisation was identified at Tashkent, Jericho, and White Violet, with copper only present in White Violet hole. Important results include:
- 27 metres @ 0.32% WO₃ from 71 metres, and 16 metres @ 0.43% Copper from 43 metres, from White Violet hole 19RC020
- 12 metres @ 0.70% WO₃ from 35 metres and 25 metres @ 0.42% WO₃ from 63 metres from White Violet hole 19RC021
- 29 metres @ 0.75% WO₃ from 81 metres, including 13 metres @ 1.43% WO₃ from 91 metres from White Violet hole 19RC022
- 2 metres @ 0.43% WO₃ from 16 metres from Tashkent hole 19RC001; and
- 2 metres @ 0.52% WO₃ from 31 metres from Jericho hole 19RC008.
Meanwhile, the laboratory assays results are expected to be made available in four weeks’ time. The company has cautioned that the laboratory assays results may vary from those obtained from XRF.
Executive Chairman Mick Billing said: “These are very exciting interim results, particularly from the White Violet deposit, where results are substantially better than expectations.
The inclusion of attractive copper interim assays from several holes also elevates the potential of the Bonya area in general, but White Violet especially.
We look forward to the interim results from the Samarkand drilling, and also to the full laboratory assays expected during May.”