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- Thor Mining (THR) intercepts over 45 metres of tungsten-molybdenum-copper mineralisation at the Molyhil Project in the Northern Territory
- Based on this find, a third hole is currently underway to target the extensions of the mineralisation down-plunge
- The drilling program is co-funded by the Geophysics and Drilling Collaborations program under the Resourcing the Territory initiative with Thor granted $110,000
- Shares in Thor are up 13.3 per cent on the market and are trading at 1.7 cents
Thor Mining (THR) has intercepted over 45 metres of tungsten-molybdenum-copper mineralisation at the Molyhil Project in the Northern Territory.
The Molyhil Project lies 220 kilometres northeast of Alice Springs within the highly prospective polymetallic province of the Proterozoic Eastern Arunta Block.
Two diamond holes, 21MHDD001 and 21MHDD02, are nearing completion and a third is currently underway.
The drilling program is co-funded by the Geophysics and Drilling Collaborations program under the Resourcing the Territory initiative with Thor granted $110,000.
Hole 21MHDD002 intercepted over 45 metres of mineralisation within massive magnetite skarn while it is believed hole 21MHDD001 hit the edge of the skarn.
Initial interpretation of the data highlights a potential south-plunging lode extending south, however, this is yet to be determined.
Managing Director Nicole Galloway Warland commented on the mineralisation.
“The tungsten-molybdenum-copper mineralisation is open to the south and the third hole is designed to test this south plunging model,” Ms Warland said.
“The extension of this mineralisation, directly south of the deposit, in a previously untested area, is pivotal to the overall Molyhil project. We look forward to updating shareholders as more information becomes available.”
Shares in Thor were up 13.3 per cent on the market and were trading at 1.7 cents at 10:36 am AEDT.