Arafura Resources Limited (ASX:ARU) and partner Thor Mining PLC (ASX:THR) have revealed maiden mineral resource estimates for White Violet and Samarkand tungsten and copper deposits at the Bonya JV project.
Bonya is adjacent to Thor’s Molyhil tungsten and molybdenum mine project, 220 kilometres northeast of Alice Springs in the Northern Territory and east of Arafura’s Nolans project.
The project is held in joint venture between Arafura (60%) and Thor (40%) with Thor acting as manager and each party contributing to the cost according to their equity holding.
The inferred resources at White Violet are 495,000 tonnes, grading 0.22% tungsten trioxide and 0.06% copper, containing 1,090 tonnes of tungsten and 300 tonnes of copper.
At Samarkand, inferred resources are 245,000 tonnes, grading 0.19% tungsten trioxide and 0.13 % copper, containing 465 tonnes of tungsten and 320 tonnes copper.
Arafura managing director Gavin Lockyer said: “We are pleased to deliver the project’s first tungsten resources at White Violet and Samarkand, and feel quietly confident the JV can build further value over time through the discovery and delineation of additional tungsten and/or copper resources.”
“Good first steps”
Thor Mining executive chairman Mick Billing said that while the results were promising, more work was needed.
He said: “These maiden resources are very significant when combined with the mining inventory of the nearby proposed Molyhil development.
“More work is required, to convert these inferred resources to, at least, Indicated classification, along with other technical, environmental and social impact assessments, however we have taken very good first steps.”
Billing said: “The Bonya project hosts additional known tungsten and copper deposits, and some high tenor copper strike extension at Samarkand.
“These will be tested in due course, and we expect that they will further contribute to the life and value of the greater Molyhil project.”
Both deposits are close to the Molyhil project, potentially within economic trucking distance.