Thor Mining Plc (AIM, ASX: THR, OTCQB: THORF) has commenced diamond drilling at the Molyhil tungsten-molybdenum Project, in the Northern Territory, Australia.
Project highlights:
▪ 1000m diamond program has commenced at Molyhil tungsten-molybdenum-copper Project, NT.
▪ Drilling to test a newly identified magnetic target adjacent to the Molyhil magnetite skarn, host to the tungsten-molybdenum-copper mineralisation.
▪ Thor Mining awarded A$110,000from the Northern Territory Government as part of the Resourcing the Territory, Geophysics and Drilling Collaborations (GDC) programme.
“We are excited to be starting this exploration drilling programme 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,” Managing Director, Nicole Galloway Warland, said.
“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 270m from surface and the location underneath the current pit design has the potential to be a game changer for the Project.”
Project Background
The Molyhil deposit is located 220 kilometres north-east of Alice Springs (320 km by road) within the prospective polymetallic province of the Proterozoic Eastern Arunta Block, in the Northern Territory.
In April 2021 a revised Mineral Resource estimate was completed comprising Measured, Indicated, and Inferred Mineral Resources, totalling 4.4 million tonnes at 0.27% WO3 (Tungsten trioxide), 0.10% Mo (Molybdenum), and 0.05% Cu (Copper) using a 0.07% WO3 cut-off.
Diamond Drilling Programme
The 1000m diamond drilling programm3, comprising two to three drillholes, is designed to test potential extensions to the known Molyhil tungsten-molybdenum-copper mineralisation, defined by a large magnetic target interpreted in recent 3D geological modelling.
The 3D geological modelling of the Molyhil deposit identified two prominent structures – Yacht Club fault and South Offset fault. Based on the geological timing of these faults, they appear to have had a significant impact on mineralisation, such as offsetting the Yacht Club mineralisation from the Southern Lode, hence creating targets for potential extensions.
Modelling of the South Offset Fault, relative to the magnetics, strongly implies an offset of the magnetic material (interpreted to be magnetite skarn) host to the tungsten- molybdenum-copper mineralisation, south of the South Offset fault.
Previous drilling in this area, to the south of the South Offset Fault, did not target the magnetic body. The drilling was designed to drill down dip of the Southern Lode without a fault offset. No mineralisation or magnetic material was intersected in this drilling.
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