Thor Mining Awarded Northern Territory Government Drilling Funds

THE DRILL SERGEANT: Thor Mining (ASX: THR) has picked up a Northern Territory Government grant for drilling at the company’s Molyhil project.

Thor Mining was awarded $110,000 from the NT Government as part of its Resourcing the Territory, Geophysics and Drilling Collaborations (GDC) program.

Thor indicated the funds will be used for drill testing of recently identified magnetic targets adjacent to the mineralisation at the Molyhil tungsten-molybdenum deposit.

The Molyhil deposit is located north-east of Alice Springs within the prospective polymetallic province of the Proterozoic Eastern Arunta Block in the NT.

In April this year, Thor released a revised Mineral Resource Estimate comprising Measured, Indicated, and Inferred Mineral Resources, totalling 4.4 million tonnes at 0.27 per cent tungsten, 0.1 per cent molybdenum, and 0.05 per cent copper.

“The successful grant is a strong validation by the Northern Territory Geological Survey of the prospectivity of the magnetic targets identified at Molyhil,” Thor Mining managing director Nicole Galloway Warland said in the company’s ASX announcement.

“We acknowledge and thank the Northern Territory Geological Survey and the NT Government for this positive exploration initiative.

“This is the third successful government grant Thor has received this year, towards co-funding of our upcoming 2021 drilling programs: three grants for three different projects in three different states.

“June will be a busy month with drilling commencing at Alford East project, SA next week, followed shortly thereafter at our USA uranium project and Ragged Range gold project in WA.”