Thor Mining PLC (AIM:THR, OTCQB:THORF, ASX:THR) has commenced diamond drilling has commenced at the Molyhil tungsten-molybdenum project, in the Northern Territory of Australia.
The 1,000 metres of drilling will test a newly identified magnetic target adjacent to the Molyhil magnetite skarn, host to already established tungsten-molybdenum-copper mineralisation.
The company was A$110,000 from the Northern Territory Government to help fund the work.
"We are excited to be starting this exploration drilling 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,” said Nicole Galloway Warland, managing director of Thor Mining.:
“The Molyhil resource is highly magnetic (high percentage of magnetite) and this newly identified target is interpreted to be an off-set 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."
Molyhil is located 220 kilometres north-east of Alice Springs, and already boasts a 4.4mln tonne tungsten, molybdenum and copper resource.