- Thor Mining (THR) begins diamond drilling at the Molyhil tungsten-molybdenum project in the Northern Territory
- The 1000-metre program aims to test for extensions at a newly-identified target which sits adjacent to known tungsten-molybdenum-copper mineralisation
- Drilling is expected to take two to three weeks and is being partially funded by the state government’s Resourcing the Territory, Geophysics and Drilling Collaborations program
- Company shares have ended the day trading steady at 1.6 cents
Thor Mining (THR) has begun a diamond drilling program at the Molyhil tungsten-molybdenum project, which is located in the Northern Territory.
The program comprises 1000 metres of drilling, for two to three holes, and aims to test potential extensions to mineralisation at a newly identified magnetic target. The target sits adjacent to the Molyhil magnetite skarn which hosts the tungsten-molybdenum-copper mineralisation.
Managing Director Nicole Galloway Warland commented on the drilling program.
“We are excited to be starting this exploration drilling program 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,” she said.
“The Molyhil resource is highly magnetic and this newly identified target is interpreted to be an offset of this mineralisation. The depth to target of only 270 metres from surface and the location underneath the current pit design has the potential to be a game changer for the project.”
Diamond drilling is being carried out by Durock Drilling and the program is expected to take approximately two to three weeks with results scheduled to start coming in the next four to five weeks.
As part of the Resourcing the Territory, Geophysics and Drilling Collaborations (GDC) program, the Northern Territory Government awarded the company $110,000 which is being put towards the drilling program.
Company shares ended the day trading steady at 1.6 cents.