Thor Mining has announced the commencement of the aircore drilling campaign designed to test for additional tungsten mineralisation within a six kilometre radius of its existing Molyhil tungsten deposit in the Northern Territory.
The 50-hole drill program, announced earlier this month, was designed to test bedrock through shallow alluvial cover, targeting magnetic anomalies with similar characteristics to Molyhil.
Thor said the key objective of the new drilling programme was to find additional ore sources for its flagship Molyhil project, thereby extending the estimated mine life and reducing costs.
“Exploration adjacent to known deposits (brownfields exploration) historically has a much higher success rate that greenfields exploration, and we are hopeful that this initial test of these localised Molyhil lookalike targets will lead to the discovery of additional deposits, and, subsequently, to a significant increase in the project’s current known mining inventory,” said Executive Chairman Mick Billing.
“The key objective is to extend the current proposed mine life of Molyhil, and hopefully increase the scale of operations to reduce unit production costs.”