Thor Mining Plc (AIM, ASX: THR) has announced highly encouraging further assay results from the second metallurgical bulk sample drill hole at its Molyhil tungsten molybdenum deposit in the Northern Territory.
Significant results 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 company said that following the results, it has commissioned RPMGlobal to upgrade the Molyhil Mineral Resource Estimate to include copper.
Molyhil project
Thor Mining’s 100%-owned Molyhil is located 220 kilometres north-east of Alice Springs within the prospective polymetallic province of the Proterozoic Eastern Arunta Block in the Northern Territory of Australia.
The project contains a total mineral resources of 4.71 Mt grading 0.28% WO3 (tungsten trioxide) and 0.13% Mo (molybdenum).
Metallurgical bulk sample drilling at Molyhil
Thor had recently commenced a two-hole drill program at the Molyhil deposit. The program comprised 195.6 metres of PQ (85.5mm diameter) diamond drilling into the Yacht Club lode of the Molyhil deposit.
Thor said that two PQ diamond drill holes were drilled down plunge of the Yacht Club lode to obtain material for production of tungsten and molybdenum concentrate samples for prospective project offtake partners.
The holes were designed to obtain material for production of tungsten and molybdenum concentrate samples.
The company noted that the holes were designed to target high grade mineralisation and as a result are not appropriate for estimating the resource or the mineralisation geometry including true widths.
High-grade results from the first hole
A highly encouraging bulk sample assay result from the first hole was announced on 6 June 2019. Highlights included 92.6 metres @ 1.0% WO₃ (tungsten trioxide), 0.16% Mo (molybdenum) and 0.13% Cu (copper) from surface, including 2.2 metres of unmineralised granite from 11.5m.
The company has now announced the assay results from the second drill hole.
High-grade assay results for the second hole
Thor reported that the second of two PQ (85mm) diamond drill holes drilled down plunge of the Molyhil Yacht Club lode to obtain material for production of tungsten and molybdenum concentrate samples has now been assayed.
Results from the second metallurgical bulk sample drill hole include 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; and 2m @ 0.15% Mo from 95m.
Copper to be included in MRE
Following the results, Thor said that it has commissioned RPMGlobal to upgrade the Molyhil Mineral Resource Estimate to include copper.
Management statements
Thor’s Executive Chairman Mick Billing said: “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.“
