Thor Mining Plc (AIM, ASX: THR) and partner Arafura Resources Limited (ASX: ARU) reported that the final follow up laboratory assay results from its recent Bonya RC drill program has confirmed the previously reported high-grade interim portable XRF results.
The RC drill program was done on Samarkand, Jericho, White Violet, and Tashkent deposits at Bonya in the Northern Territory of Australia.
The company announced that although no significant intercepts were recorded at the Tashkent and Marrakech deposits, the White Violet and Samarkand deposits reported high-grade tungsten results along with exciting copper readings.
The company reported that the Tungsten highlights from White Violet include 27m @ 0.29% WO3 from 35m including 16m at 0.31% Cu from 43m and 7m @ 0.2% WO3 from 67m; while the Tungsten highlights from Samarkand include 13m @ 0.48% WO3 from 19m. Meanwhile, the Copper intersections from Samarkand include 5m @ 0.36% Cu from 9m including 2m @ 0.23% WO3.
The company said that they will now focus on planning and executing a subsequent phase of drilling at White Violet and Samarkand.
Bonya project
The Bonya project is held in a joint venture between Arafura (60%) and Thor (40%) with Thor acting as manager.
The project has 13 known outcropping tungsten deposits and is located approximately 30 kms east of Molyhil mine project.
RC drill program at Bonya
The Company had recently commenced an RC drill program at Bonya. The program comprised 2,184 metres of drilling by Reverse Circulation (RC) method on Samarkand, Jericho, White Violet, and Tashkent deposits.
The company reported that no significant intercepts were recorded at the Tashkent and Marrakech deposits. However, very good tungsten results along with exciting copper readings were reported from the White Violet and Samarkand deposits at Bonya.
Tashkent and Marrakech deposits
At the Tashkent and Marrakech deposits, a small program of costean (~1-metre-deep trench) sampling was undertaken during the drill program.
At Tashkent the costeans were situated midway between the drill sections to provide infill data to the drilling. However, due to the narrow width and low tungsten grade, the company said that Tashkent is ruled out as a subject of further exploration efforts in the near future.
Although there were no significant intersections from the Marrakech deposit costeans as well, the company said that the potential scale of the deposit reported in historic reports deems the deposit worthy of further investigation at some future stage.
Encouraging WO3 intersections from White Violet
Thor Mining noted that White Violet delivered excellent results.
The company reported that the Tungsten highlights from White Violet include 27m @ 0.29% WO3 from 35m including 16m at 0.31% Cu from 43m and 7m @ 0.2% WO3 from 67m; 12m @ 0.67% WO3 from 46m; 25m @ 0.39% WO3 from 63m and; 5m @ 0.1%WO3 from 96m; and 29m @ 0.70% WO3 from 81m; including 13m at 1.13% WO3 from 91m.
Excellent WO3, Cu results from Samarkand
The company said that Samarkand reported excellent WO3 and Cu intersections.
The Tungsten highlights from Samarkand include 13m @ 0.48% WO3 from 19m; 8m @ 0.45% WO3 from 38m; and 9m @ 0.74% WO3 from 64 m including 2m @ 0.2% Cu from 69m.
Meanwhile, the Copper intersections from Samarkand include 5m @ 0.36% Cu from 9m including 2m @ 0.23% WO3; 12m @ 0.77% Cu from 22m; and 7m @ 1.23% Cu from 37m.
What’s next?
The company and partner said that they will now focus on planning and executing a subsequent phase of drilling to potentially deliver mineral resources at White Violet and Samarkand.
The joint venture said that in the event that follow-up drilling leads to the definition of mineral resource estimates, there is potential to add materially to both the life and financial outcomes at the Molyhil project.
Management statements
Executive Chairman of Thor Mining, Mick Billing said: “It is exciting to have confirmation of very good tungsten results along with exciting copper readings from the White Violet and Samarkand deposits at Bonya.
These robust, near surface tungsten and copper mineralisation occurrences have significant growth potential and the joint venture will now target near term drilling to both test the extent of the deposits and facilitate reportable mineral resource estimates.
The proposed Molyhil processing facility is designed to extract copper as well as tungsten and molybdenum so any primary copper at Bonya can potentially be extracted at minimal additional cost.
In the event that follow up drilling leads to the definition of mineral resource estimates, there is potential to add materially to both the life and financial outcomes at the Company’s Molyhil project.”
Managing Director of Arafura Resources, Gavin Lockyer commented: “We are pleased with the results of first pass exploration and the joint venture will now focus on planning and executing a subsequent phase of drilling to potentially deliver mineral resources at White Violet and Samarkand.”
