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Arafura Resources Ltd

Arafura Resources posts high-grade tungsten and copper results from drilling and XRF analysis at Bonya project

The results are preliminary and subject to confirmation in laboratory work, expected to be complete within four weeks.

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Thor Mining holds a 40% interest in deposits of tungsten, copper and vanadium at Bonya

Arafura Resources Limited (ASX:ARU) has delineated tungsten grades of up to 0.61% as well as high-grade copper in drill samples from the Samarkand prospect at its Bonya Tungsten Project in the Northern Territory, using portable X-ray fluorescence (XRF) determination.

The drilling program comprised 2,184 metres of by reverse circulation drilling on the Samarkand, Jericho, White Violet and Tashkent deposits, as well as about 200 metres of trench sampling across each of the Marrakesh and Tashkent deposits.

Bonya is 60% owned by Arafura and is held in a joint venture with Thor Mining PLC (ASX:THR), with both parties contributing to the cost of the program in proportion to their project equity.

READ: Arafura Resources chairman buys 150,000 shares on-market

Thor’s chairman Mick Billing said: “More very good XRF tungsten results along with exciting copper readings from the Samarkand deposit at Bonya.

“The proposed Moyhil processing facility is designed to extract copper as well as tungsten and molybdenum, so any primary copper at Bonya can be extracted at minimal additional cost.

“We look forward to the full laboratory assays from this drill program, along with results from the costean sampling from Marrakech and Tashkent, all expected during May.”

READ: Arafura Resources interim drill results from Bonya better than expected

Tungsten highlights from the Samarkand drilling include:

  • 15 metres at 0.44% tungsten from 19 metres;

  • 8 metres at 0.36% from 38 metres; and

  • 11 metres at 0.61% tungsten from 64 metres, including 2 metres at 0.21% copper from 69 metres.

Notable copper assays include:

  • 5 metres at 0.51% copper from 9 metres, including 2 metres at 0.22% tungsten;

  • 12 metres at 0.69% from 22 metres; and

  • 6 metres at 0.97% from 38 metres.

Quick facts: Arafura Resources Ltd

Price: $0.09

Market: ASX
Market Cap: $89.67 m
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