Good RNS8 Apr 2021 08:42
Thu, 8th Apr 2021 07:08
RNS Number : 8079U
Thor Mining PLC
08 April 2021
8 April 2021
THOR MINING PLC
MOLYHIL PROJECT
Mineral Resource Estimate Updated
The directors of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR, OTCQB: THORF), the diversified resource company, are pleased to provide an update to the Mineral Resource Estimate of its 100% owned critical minerals tungsten asset, the Molyhil Project ("Molyhil"), in the Northern Territory of Australia.
Highlights:
§ The Molyhil Mineral Resource Estimate now comprises Measured, Indicated, and Inferred Mineral Resources totalling 4.4 million tonnes at 0.27% WO3 (Tungsten trioxide), 0.10% Mo (Molybdenum), 0.05% Cu (Copper) and 17.75% Fe (Iron) using a 0.07% WO3 cut-off (Table A).
§ New Measured classification in the upper portion of the Southern Lode
§ Concurrent 3D geological modelling identifies priority drill targets to increase resource.
§ New exploration targets identified near the existing resource.
§ July 2020 - the Northern Territory government announced that the Molyhil Project had been awarded Major Project Status
§ Next Steps: Geotechnical drilling for pit wall optimisation, ore sorting review, and drill testing of priority resource and regional targets.
§ Continued discussions with potential financiers and joint venture partners to advance the project