(Alliance News) - Thor Mining PLC on Monday said it has secured further positive assay results from the second metallurgical bulk sample drill hole at its wholly owned Molyhil tungsten molybdenum deposit, in the northern territory of Australia.
The exploration and development company said the second of two 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.
"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," said Executive Chair Mick Billing.
The holes were designed specifically for production of concentrate samples and will not contribute to the mineral resource estimate, Thor noted.
Following the results, Thor has commissioned RPMGlobal to assess the Molyhil mineral resource estimate for the inclusion of copper.
"The continued confirmation of copper mineralisation at potentially economic levels is also very pleasing," continued Billing. "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."
Thor shares were trading 7.3% lower in London on Monday at 0.51 pence each.
Thor Energy (THR)