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Commencement of Drilling at Molyhil Project
Commencement of Drilling at Molyhil Project.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5743R\n Thor Mining PLC\n 08 November 2021\n \n \n \n \n 8 November 2021\n \n \n \n \n \n \n \n \n Thor Mining PLC\n \n \n \n \nCommencement of Drilling\n \n \n Molyhil Tungsten-Molybdenum Project, Northern Territory\n \n \n \n \n \n The directors of Thor Mining Plc (\"Thor\") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce that diamond drilling has commenced at the Molyhil tungsten-molybdenum Project, in the Northern Territory. \n \n \n HIGHLIGHTS\n \n \n § \n 1000m diamond program has commenced at Molyhil tungsten-molybdenum copper Project, NT.\n \n \n § \n Drilling to test a newly identified magnetic target adjacent to the Molyhil magnetite skarn, host to the tungsten-molybdenum-copper mineralisation.\n \n \n § \n Thor Mining awarded A$110,000\n from the Northern Territory Government as part of the Resourcing the Territory, Geophysics and Drilling Collaborations (GDC) program. \n \n \n \n \n \n Nicole Galloway Warland, Managing Director of Thor Mining, commented:\n \n \n \"We are excited to be starting this exploration drilling at our Molyhil Project in the Northern Territory, where we are testing a newly identified, large magnetic target adjacent to the known tungsten-molybdenum-copper mineralisation. The Molyhil resource is highly magnetic (high percentage of magnetite) and this newly identified target is interpreted to be an off-set of this mineralisation.\n \n \n The depth to target of only 270m from surface and the location underneath the current pit design has the potential to be a game changer for the Project.\" \n \n \n \n \n \n A copy of the Tenement and Prospect Location Plan may be viewed via the following link:\n \n \n \n \n https://www.thormining.com/sites/thormining/media/Maps/12-002-1b-molyhil-location.jpg\n \n \n \n \n Project Background \n \n \n The Molyhil deposit is located 220 kilometres north-east of Alice Springs (320 km by road) within the prospective polymetallic province of the Proterozoic Eastern Arunta Block, in the Northern Territory (Figure 1).\n \n \n In April 2021 (THOR:ASX Announcement 8 April 2021) a revised Mineral Resource estimate was completed comprising Measured, Indicated, and Inferred Mineral Resources, totalling 4.4 million tonnes at 0.27% WO3 (Tungsten trioxide), 0.10% Mo (Molybdenum), and 0.05% Cu (Copper) using...