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Molyhil Extension Drilling Update
Molyhil Extension Drilling Update.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \n \n 28 July 2022\n \n \n \n \n Thor Mining PLC\n \n \n \n (\"Thor\" or the \"Company\")\n \n \n \n \n \n \n Molyhil Project, Northern Territory\n \n \n Molyhil Extension Drilling Update\n \n \n \n \n The Directors of Thor Mining Plc (\"Thor\") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce the drill results of the diamond drilling program at the 100% owned Molyhil Critical Minerals Project, Northern Territory.\n \n \nProject highlights:\n \n §\n Two of three diamond drillholes completed in late 2021 intercepted disseminated scheelite-molybdenite-chalcopyrite mineralisation hosted in a massive magnetite skarn, validating a newly identified 3D magnetic target. The drilling demonstrates that tungsten-molybdenum-copper skarn mineralisation extends along strike, to the south of the Molyhil Resource.\n \n \n §\n Assay results were lower than visible grade estimates and this resulted in the samples being resubmitted for analysis using two different analytical techniques, with further follow up using the coarse reject material.\n \n \n §\n 21MHDD002: \n \n \n o \n 46m @ 0.06% WO3, 0.05% Mo & 0.04% Cu from 249m,\n \n \n §\n including 11m @ 0.05% WO3, 0.13% Mo & 0.06 % Cu from 272m\n \n \n §\n 21MHDD003:\n \n \n o \n 4m @ 0.13% WO3, 0.08% Mo & 0.06% Cu from 255m\n \n \n §\n Analytical analyses of the tungsten and molybdenum is significantly impacted by the coarse nature of the scheelite crystals in half core, combined with the malleable nature of the molybdenite when pulverised; thus, sample size is critical to the representivity of assay grades.\n \n \n §\n Extrapolation of the 3D model along strike has identified further high-priority drill targets\n \n \n \n \n \n The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the \"JORC Code\") table is set out at the end of this announcement.\n \n \n \nNicole Galloway Warland, Managing Director of Thor Mining, commented:\n \n \n \"Although we were disappointed by the assay results, the presence of a 46m intersection of magnetite skarn and weakly disseminated tungsten-molybdenum-copper mineralisation is very encouraging. Exploring for this style of mineralisation is difficult without the presence of significant amounts of magnetite that can be easily defined in magnetic surveys. Other magnet...