Thor Mining PLC GRANTING OF ADDITIONAL EXPLORATION LICENCE AREA (0302K)
04 July 2017 - 4:00PM
UK Regulatory
TIDMTHR
RNS Number : 0302K
Thor Mining PLC
04 July 2017
4 July 2017
THOR MINING PLC
MOLYHIL TUNGSTEN PROJECT
GRANTING OF ADDITIONAL EXPLORATION LICENCE AREA
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."
Enquiries:
Mick Billing +61 (8) 7324 Thor Mining Executive
1935 PLC Chairman
Ray Ridge +61 (8) 7324 Thor Mining CFO/Company
1935 PLC Secretary
Colin Aaronson/ +44 (0) 207 383 Grant Thornton Nominated
Daniel Bush/ 5100 UK LLP Adviser
Richard Tonthat
Elliot Hance +44 (0) 207382 Beaufort Securities Joint Broker
8300 Limited
Nick Emerson +44 (0) 1483 SI Capital Ltd Joint Broker
/ Andy Thacker 413 500
Tim Blythe/ +44 (0) 207 138 Blytheweigh Financial
Camilla Horsfall 3222 PR
Updates on the Company's activities are regularly posted on
Thor's website www.thormining.com, which includes a facility to
register to receive these updates by email, and on the Company's
twitter page @ThorMining.
Competent Person's Report
The information in this report that relates to exploration
results is based on information compiled by Richard Bradey, who
holds a BSc in applied geology and an MSc in natural resource
management and who is a Member of The Australasian Institute of
Mining and Metallurgy. Mr Bradey is an employee of Thor Mining PLC.
He has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Richard Bradey consents to the inclusion in the report
of the matters based on his information in the form and context in
which it appears.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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