Arafura Resources Ltd (ASX:ARU) and Thor Mining PLC (ASX:THR) have received the final follow up assay results from their recent reverse circulation (RC) drill program at the Bonya Tungsten Project in the NT.
The project is held in joint venture between Arafura (60%) and Thor (40%) with Thor acting as manager.
Bonya is adjacent to Thor's Molyhil Tungsten Project which comprises tungsten, copper and vanadium.
Map showing location of Bonya relative to the Molyhil mine project
Tungsten highlights from the White Violet deposit include:
• 27 metres at 0.29% tungsten trioxide from 35 metres including 16 metres at 0.31% copper from 43 metres and 7 metres at 0.2% tungsten trioxide from 67 metres;
• 12 metres at 0.67% tungsten trioxide from 46 metres; 25 metres at 0.39% tungsten trioxide from 63 metres and; 5 metres at 0.1% tungsten trioxide from 96 metres;
Tungsten highlights from Samarkand include:
• 13 metres at 0.48% tungsten trioxide from 19 metres;
• 8 metres at 0.45% tungsten trioxide from 38 metres; and
• 9 metres at 0.74% tungsten trioxide from 64 metres including 2 metres at 0.2% copper from 69 metres.
Copper intersections from Samarkand include:
• 5 metres at 0.36% copper from 9 metres including 2 metres at 0.23% tungsten trioxide;
• 12 metres at 0.77% copper from 22 metres.
Arafura managing director Gavin Lockyer said: “We are pleased with the results of first pass exploration and the joint venture will now focus on planning and executing a subsequent phase of drilling to potentially deliver mineral resources at White Violet and Samarkand.”
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Thor Mining executive chairman Mick Billing said: “It is exciting to have confirmation of very good tungsten results along with exciting copper readings from the White Violet and Samarkand deposits at Bonya.
“These robust, near surface tungsten and copper mineralisation occurrences have significant growth potential and the joint venture will now target near term drilling to both test the extent of the deposits and facilitate reportable mineral resource estimates.
“The proposed Molyhil processing facility is designed to extract copper as well as tungsten and molybdenum so any primary copper at Bonya can potentially be extracted at minimal additional cost.
“In the event that follow up drilling leads to the definition of mineral resource estimates, there is potential to add materially to both the life and financial outcomes at the company’s Molyhil project.”