The Board of Thor Mining Plc (“Thor” or the “Company”) (AIM, ASX: THR) is pleased to advise that the Company has been granted an additional exploration licence area (“EL31443”) which secures additional ground along strike from the Molyhil tungsten deposit in the Northern Territory.
The application was lodged after the Company received highly encouraging results from a shallow drilling campaign in 2016 that was designed to test for satellite deposits in close proximity to the Company’s existing Molyhil tungsten deposit. The additional exploration licence area secures prospective ground contiguous with the Gap Track prospect to the south of existing tenements (Figure 1).
The new licence area comprises 68 square kilometres of ground highly prospective for further Molyhil style skarn hosted tungsten deposits.
Mr Mick Billing, Executive Chairman, commented:
“The exploration results from the 2016 drilling program provided all the encouragement required to pick up this extra ground. Even moderate exploration success in this new exploration area is likely to have a dramatically positive effect on the Molyhil mine life and economic outcomes.”