Thor Mining receives positive outcomes from Bonya tungsten deposits

  • May 07, 2019 AEST
  • Team Kalkine
Thor Mining receives positive outcomes from Bonya tungsten deposits

Thor Mining PLC (ASX: THR), an explorer and tungsten-copper project developer in Australia, announced on 7th May 2019, the positive results of further drilling at the Bonya tungsten deposits. The company undertook additional interim drilling at the deposit, which is adjacent to Molyhil in the Northern Territory of Australia.

The Bonya project is a joint venture for the company with Arafura Resources (ASX: ARU), in which the company holds 40% interest, and the rest 60% of it is with Arafura. The cost of the program of the project is distributed among both the counterparties, in the ratio of their respective interest in the project.

Thor mining mentioned that the interim results for Samarkand prospect were available through portable X-ray fluorescence (XRF). As per the company, the result from the prospect is preliminary in nature and are further subjective to laboratory assay, which could differ from the results obtained through XRF.

In April 2019, the company announced about the beginning of resource estimation work for various deposits in the Moonta Copper project.

The significant results of the drilling from the prospect are as follows:

The drill hole identified as 19RC026 presented 15m @ 0.44% of tungsten oxide from 19 metres.

The drill hole identified as 19RC028 presented 18 metres @ 0.36% of tungsten oxide from 38 metres.

The drill hole identified as 19RC030 presented 11 metres @ 0.61% of tungsten oxide from 64 metres, including 2 metres @ 0.21% Cu from 69 metres.

The copper drill intersection at the prospect includes:

The drill hole identified as 19RC029 intersected 5 metres @ 0.5% of copper from 9 metres including 2m @ 0.22% of tungsten oxide.

The drill hole identified as 19RC030 intersected 12 metres @ 0.69% of copper from 22 metres.

The drill hole identified as 19RC032 intersected 6m @ 0.97% of copper from 38 metres.

These are some of the noticeable results from the drilling program conducted by the company at the Samarkand Jericho, white Violet, and Tashkent deposits, which accounted for 2,184 metres of Reverse Circulation drilling and approx. 200m of trench sampling.

As per the company, the Jericho deposit revelled several hundred tonnes of scheelite ore at surface adjacent to the deposit historically. It also mentioned that the results of laboratory assay would be available within four weeks.

The further result includes:

The drill hole identified as 19RC025 presented 3m @ 0.53% of tungsten oxide from 41m, and

  • 5m @0.20% of tungsten oxide from 52m.
  • 3m @ 0.08% of tungsten oxide from 61m.
  • 4m @ 0.1% of tungsten oxide from 73m.

The drill hole identified as 19RC027 presented 3m @ 0.13% of tungsten oxide from 9m.

The drill hole identified as 19RC031presented 7m @0.32% of copper from 25m, and

  • 1m @ 0.16% of tungsten oxide from 39m.
  • 2m @0.32% of copper from 57m.

As per the Executive Chairman of the company, Mick Billing, any primary copper at Bonya could be extracted at a minimal additional cost, since the proposed Molyhil processing facility has been designed to extract copper along with tungsten and molybdenum.

The shares of the company are trading flat at A$0.015 (as on 7th May 2019, AEST: 2:22 PM).


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is sponsored but NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. We are neither licensed nor qualified to provide investment advice through this platform.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK