- Thor Mining (THR) and Arafura Resources (ARU) have advised that final follow-up assay results from drilling at the Bonya Project have confirmed previous XRF results
- 19 holes were drilled for over 1300 metres at the White Violet and Samarkand prospects
- Both companies are pleased the tungsten deposits have delivered robust results
- They will continue to focus on testing these deposits to extend the nearby Molyhil Project’s mine life
- Thor Mining has gone up 12.5 per cent, with shares trading for 0.9 cents and Arafura Resources is up a slight 1.15 per cent, with shares trading for 8.8 cents
Thor Mining (THR) and Arafura Resources (ARU) have advised that final follow-up assay results from drilling at the Bonya Project have confirmed previous XRF results.
The 1386-metre reverse circulation (RC) drilling program was completed in late November. A total of 11 holes were drilled at the White Violet prospect and a further eight holes at Samarkand.
White Violet returned some highly positive results including 23 metres at 0.58 per cent tungsten trioxide from surface, including 6 metres at 1.7 per cent tungsten trioxide from surface and 3 metres at 1.02 per cent tungsten trioxide from 22 metres, including 1 metre at 2.64 per cent tungsten trioxide from 22 metres.
Highlights from Samarkand include 7 metres 0.28 per cent tungsten trioxide from 43 metres, and 9 metres at 1.1 per cent copper from 45 metres, plus 2 metres at 2.17 per cent tungsten trioxide and 0.78 per cent copper from 78 metres.
“Assays from this latest drilling campaign confirms the potential at both White Violet and Samarkand to host tungsten mineral resources,” Arafura Resources Managing Director Gavin Lockyer said.
“The Bonya tungsten deposits are delivering robust results which, we believe can add significantly to the economic life and commercial outcomes of the nearby proposed Molyhil project,” Executive Chairman Mick Billing said.
The Molyhil Tungsten-Molybdenum Project is Thor’s 100 per cent-owned project which sits adjacent to the Bonya Project.
Bonya is held in a joint venture between Arafura, who holds 60 per cent, and Thor, who holds 40 per cent.
The companies have said that while the Bonya Project hosts further tungsten and copper deposits, the initial focus is on the White Violet and Samarkand deposits as well as the Bonya copper deposit.
Thor Mining has gone up 12.5 per cent, with shares trading for 0.9 cents each at 11:44 am AEDT and Arafura Resources is up a slight 1.15 per cent, with shares trading for 8.8 cents each at 3:57 pm AEDT.