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The project is held in joint venture between Arafura (60 percent) and Thor (40 (percent) with Thor acting as manager.
Thor Mining (LSE:THR,ASX:THR) and Arafura Resources (ASX:ARU) have announced the final follow up laboratory assay results from the recent Bonya drill program, the results confirm the deposit is high grade.
The project is held in joint venture between Arafura (60 percent) and Thor (40 (percent) with Thor acting as manager.
As quoted from the press release:
Mick Billing, executive chairman of Thor Mining, commented: “It is exciting to have confirmation of very good tungsten results along with exciting copper readings from the White Violet and Samarkand deposits at Bonya.”
“These robust, near surface tungsten and copper mineralisation occurrences have significant growth potential and the joint venture will now target near term drilling to both test the extent of the deposits and facilitate reportable mineral resource estimates.
“The proposed Molyhil processing facility is designed to extract copper as well as tungsten and molybdenum so any primary copper at Bonya can potentially be extracted at minimal additional cost.” “In the event that follow up drilling leads to the definition of mineral resource estimates, there is potential to add materially to both the life and financial outcomes at the Company’s Molyhil project”