(Alliance News) - Thor Mining PLC on Monday said it has secured positive drilling results at the Big Sandy lithium-clay deposit in Arizona, US, by Hawkstone Mining Ltd.
Hawkstone, the 100% owner of the Big Sandy project, has released results from the final holes of its 37-hole phase 2 diamond drill programme on Wednesday last week. Thor holds 1.1% stake in Hawkstone.
"High grade intercepts have continued, and the assay results from the last three diamond drill holes further demonstrate the significant potential of the Big Sandy project, and importantly, mineralisation remains open to the north, south and west," said Hawkstone Managing Director Paul Lloyd.
"The program continues to improve the prospects for Big Sandy and the value of our Hawkstone investment, and we look forward to the maiden resource estimate, scheduled for late September 2019, and also the forecast pre-feasibility study," added Thor Executive Chair Mick Billing.
Thor shares were trading 1.3% lower on Monday in London at 0.67 pence each.
Thor Energy (THR)