Thor Mining has announced a new drill campaign designed to confirm the close proximity of additional tungsten mineralisation within a six kilometre radius of its existing Molyhil tungsten deposit in the Northern Territory.
According to the company, the 50-hole, A$100,000 drill program is designed to test bedrock through shallow alluvial cover, targeting magnetic anomalies with similar characteristic to Molyhil.
Thor’s Executive Chairman Mick Billing said key objective of the new drilling programme is to find additional ore sources for Molyhil project, thereby extending mine life and reducing costs.
He said planned drill targets include Solar Farm, Stock Yard, Think Big and Gap Track areas, all of which are located within 6km of Molyhil.
“Improvements in the APT price combined with renewed interest in the sector leads us to believe that now is the ideal time to test these exciting targets, as we move to the next phase of work at Molyhil with renewed vigour,” Mr Billing stated.
“Exploring adjacent known deposits is a sound and cost effective exploration tactic and this initial test of these Molyhil lookalike targets will hopefully lead to a significant increase in the project’s current known mining inventory.”
The drill programme is expected to commence later this month.