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Additional Information

Market:	ASX / AIM
Sector:	General Mining
EPIC:	THR
Latest Price:	0.03 (8.33% )
52-week High:	0.04
52-week Low:	0.02
Market Cap:	5.78M

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Thor Mining Full Thor Mining profile here

Thor Mining (ASX: THR, AIM: THR) is a minerals exploration and development company focused on gold and base metals exploration, as well as progressing towards development of the Molyhil Tungsten and Molybdenum Project in the Northern Territory of Australia.

Thor Mining set to advance gold, tungsten, molybdenum projects in months ahead

Monday, June 27, 2011

Thor Mining PLC (AIM, ASX: THR, THRO) has updated its operations at its gold, tungsten and molybdenum projects following the recent distribution by Western Desert Resources (ASX: WDR) of its shareholding in Thor.

The company is bullish about the advancement of its projects towards development. Commodity prices for Thor projects are now at record levels in the case of gold and tungsten and have substantially recovered in the case of molybdenum.

In the near term Thor will be most active at its Molyhil Tungsten and Molybdenum project, Spring Hill Gold project and Dundas Gold project.

The Molyhil Tungsten and Molybdenum project in the Northern Territory is projected for near-term development and mining. There is strong potential for increased resources from further exploration.

The September quarter program includes an update of feasibility studies, and a drill program scheduled to test size of resource at depth and improve confidence level in the ore body.

The Spring Hill Gold project in the Northern Territory hosts an Indicated Resource of 274,000 ounces (oz) within 3.64 million tonnes (Mt) at 2.34 grams per tonne (g/t) gold.

On January 21 Thor announced the acquisition of an 80% interest in the project from Western Desert Resources. The consideration for the 25% stake in the project was A$1,250,000 plus the issue to Western Desert of 10 million Thor ordinary shares.

The acquisition brings the promise of significantly more mineralisation at depth. A potential Callie style deposit would be a company maker, a concept that has not yet been tested at Spring Hill. There is significant potential for exploration upside from current open-pit and future underground mining.

The September quarter program includes extensional resource drilling and the December quarter program includes metallurgical test work and deep target drilling.

The Dundas Gold project in Western Australia is located in strike extension of the prolific Norseman greenstone belt which hosts new discoveries including 5Moz Tropicana gold deposit. Systematic drill testing is programmed over 2011-2012.

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